恒生指数截至午市涨0.93% 截至午市收市，恒生指数上涨0.93%，报23079.88点，上涨212.14点；恒生科技指数上涨1.91%，报 5279.28点；国企指数上涨0.81%，报8376.23点。 21世纪经济报道记者孙迟悦香港报道 5月12日早盘，港股三大指数集体高开，恒生指数报23183.81点，上涨1.38%；恒生科指上涨2.15%，国 企指数上涨1.45%。 上周五，美股先升后回调，市场观望中美经贸高层会谈的结果，投资气氛谨慎，港股三大指数收市升跌 不一。 据新华社报道，当地时间5月10日至11日，中美经贸中方牵头人、国务院副总理何立峰与美方牵头人、 美国财政部长贝森特和贸易代表格里尔在瑞士日内瓦举行中美经贸高层会谈。双方围绕落实1月17日中 美元首通话重要共识进行了坦诚、深入、具有建设性的沟通，达成一系列重要共识，会谈取得实质性进 展。 星展银行研究部中国香港股票分析师应毓华对21世纪经济报道记者表示，中美经贸高层会谈使得风险偏 好边际改善。同时，一揽子金融政策传递了政策制定者"稳市场"以及"稳预期"的明确信息，夯实投资者 对资本市场的信心，也有利于市场的流动性。 今日，宁德时代公布招股详情 ...

市场早间高开高走，创业板指一度涨超2%，随后涨幅有所回落。军工板块再度爆发，昆船智能、航天 南湖、成飞集成、天箭科技等超20股涨停。机器人概念反复活跃，拓斯达、中超控股、泰尔股份、锋龙 股份等多股封板。下跌方面，创新药概念走低，迈威生物、百济神州跌超9%。个股涨多跌少，沪深京 三市近3500股飘红，上午半天成交8624亿。午间收盘沪指涨0.37%，深成指涨1.06%，创业板涨1.72%。 ...

Core Viewpoint - Xiangxin Technology (002965) has become the most researched stock by institutions, with 171 institutions participating in the recent survey, indicating strong market interest and potential growth opportunities in various sectors [1][4]. Industry Insights - The automotive sector is expected to see increased penetration of new energy vehicles as smart driving technology becomes more widely adopted [2]. - The household energy storage market is growing rapidly, driven by policy support and technological advancements [3]. - In the field of intelligent robotics, industrial robots are experiencing continuous growth, while service robots are seeing increased penetration in medical and household cleaning applications [3]. - The demand for computing power servers is being driven by AI needs, with a gradual improvement in the domestic chip ecosystem and a growing demand for high-performance servers [3]. - The low-altitude economy is witnessing the implementation of eVTOL logistics and urban transportation pilots, with increasing applications for drone logistics and urban transport [3]. Company Developments - Xiangxin Technology is focusing on multiple sectors including new energy vehicles, photovoltaic energy storage, intelligent robotics, low-altitude economy, and computing power servers, while also exploring new fields and businesses [3]. - The company has signed a cooperation agreement with the Guangdong Academy of Sciences to establish a technology innovation center for developing intelligent humanoid robot solutions [3]. - Xiangxin Technology is recognized as a leading stock in the humanoid robot concept associated with Huawei, showing significant stock performance with a maximum increase of over 62% from a low of 36.35 CNY to a high of 58.92 CNY [4]. Institutional Research Activity - In the past week, over 520 stocks were researched by institutions, with Xiangxin Technology leading the way [1]. - Other companies such as Tiannai Technology and Rongbai Technology also received significant institutional attention, indicating a broader interest in solid-state battery technology and related sectors [6][8].

Core Viewpoint - The article analyzes the salary distribution of chairpersons in the robotics industry, highlighting the correlation between their compensation and company performance based on the 2024 annual reports of 65 listed robotics companies [2][21]. Salary Overview - The average annual salary of the 65 chairpersons is 1.6825 million yuan, with a significant range where top executives earn over 7.51 million yuan [5][4]. - The top five highest-paid chairpersons include: - Zheng Hongmeng from Industrial Fulian: 7.5121 million yuan, with revenue of 609.135 billion yuan and net profit of 23.216 billion yuan [6]. - Gao Lufeng from Ninebot: 7.5029 million yuan, with a revenue growth of 38.87% and net profit growth of 81.29% [6]. - Zhu Xingming from Huichuan Technology: 3.9015 million yuan, despite a net profit decline of 9.62% [6]. - Liu Qingfeng from iFlytek: 3.9 million yuan, with a net profit growth of 59.35% [6]. - Xu Li from SenseTime: 3.588 million yuan, with a net profit loss of 4.307 billion yuan [6]. Salary Distribution by Performance - Chairpersons of profitable companies (45 in total) have an average salary of 1.8708 million yuan, while those from loss-making companies (20 in total) average 1.2585 million yuan [11][12]. - Notably, some loss-making companies still pay high salaries, such as: - Hanchuan Intelligent: 2.5222 million yuan despite a loss of 1.103 billion yuan [12]. - Yuntian Lifa: 2.2051 million yuan with a loss of 579 million yuan [12]. Industry Salary Comparison - The average salary for chairpersons in the service robotics and AI sector is 2.54 million yuan, significantly higher than other categories [16]. - In the industrial robotics parts sector, the average salary is 1.5075 million yuan, with notable performers like Sanhua Intelligent Control earning 3.314 million yuan [17]. - The average salary in the industrial robotics complete machine sector is 1.293 million yuan [18]. - The average salary in the special robotics sector is 1.1287 million yuan, with the highest being 2.166 million yuan from Zhongxin Heavy Industry [19]. Long-term Value Creation - The article emphasizes the need for companies to align high executive salaries with long-term value creation and improve transparency in salary disclosures to address market concerns [21].

A股再现实际控制人离婚案。5月8日晚间，珠城科技公告称，公司近日收到控股股东、实际控制人张建 春和施乐芬的通知，经双方协商一致，已解除婚姻关系。张建春拟将其直接持有的公司876.75万股股票 分割过户给施乐芬。5月8日，珠城科技收盘价为43.49元/股，876.75万股对应市值约为3.8亿元。 因涉及到机器人相关概念，今年，珠城科技股价从27元/股左右一度上涨至最高的55.29元/股。《每日经 济新闻》记者注意到，控股股东持股仍处于限售期。而珠城科技创立时，施乐芬的哥哥，也就是张建 春"大舅哥"出了不少力。 今年股价迎来一波上涨 珠城科技公告称，公司近日收到控股股东、实际控制人张建春和施乐芬的通知，经双方协商一致，已解 除婚姻关系，并就离婚财产分割事宜作出相关安排。张建春拟将其直接持有的公司876.75万股股票分割 过户给施乐芬。本次权益变动后，公司控股股东、实际控制人仍为张建春、施乐芬、张建道、施士乐， 公司控制权未发生变化。不过，珠城科技的实际控制权稳定是依靠上述控股股东签订的《一致行动协 议》。在权益变动之后，上述股东的持股比例将变为，张建春、施乐芬、张建道、施士乐分别持股 12.82%（间接持股2.3 ...

Core Viewpoint - Despite experiencing three losses in four years, the stock price of Saimo Intelligent (300466) has reached a recent high due to the "robot concept" and expectations of restructuring [1][2] Group 1: Company Overview - Saimo Intelligent was originally a private enterprise in Jiangsu, but control was transferred to Luoyang Guohong Investment Group over four years ago, making the Luoyang State-owned Assets Supervision and Administration Commission the actual controller [2] - The company primarily provides digital, automated, and intelligent industrial solutions for factories [2] Group 2: Financial Performance - In 2024, Saimo Intelligent reported a revenue of 551 million yuan, a year-on-year decrease of 33.99%, and a net profit attributable to the parent company of -86.6174 million yuan, marking the third loss in four years [2] - The net profits for the years 2021 to 2024 were -0.95248 million yuan, 2.12201 million yuan, -4.55094 million yuan, and -86.6174 million yuan respectively [2] - In the first quarter of 2025, the net profit attributable to the parent company was -11.0809 million yuan [2] Group 3: Stock Performance - Since April 9, the stock price of Saimo Intelligent has increased from a low of 6.87 yuan per share to a peak of 13.77 yuan per share, representing a maximum increase of over 100% [2] Group 4: Strategic Direction - The controlling shareholder plans to transform Saimo Intelligent into a new capital operation platform for high-end manufacturing in Luoyang, aiming to enhance the company's core competitiveness through quality asset introduction [1] - The company aims to leverage its advantages in smart manufacturing and industrial internet to facilitate the transformation and upgrading of traditional industries in Luoyang [1] - Saimo Intelligent has developed various industrial robot products and aims to integrate robot technology with application scenarios to enhance service capabilities [3] - The company has set a goal to reduce losses and achieve profitability by 2025, focusing on expanding its advantageous products and optimizing internal management processes [3]

1·[Table_Main] 行业研究|工业 证券研究报告 工业行业周报、月报 2025 年 05 月 08 日 [Table_Invest] 推荐|维持 [Table_Title] 奇瑞墨甲批量交付，外骨骼机器人表现 重点公司公告显示，金力永磁拟 1-2 亿元回购股份；悦安新材羰基铁 粉产品已应用于磁流变减震器领域；龙磁科技高端模压电感已通过某 知名半导体客户认证并开始小批量供货。 周观点 亮眼 ——人形机器人产业周报 [Table_Summary] 报告要点： 周度行情回顾 2025 年 4 月 28 日至 4 月 30 日，人形机器人概念指数上涨 4.22%， 相较沪深 300 指数跑赢 4.65pct；年初至今累计涨跌幅来看，人形机 器人概念指数上涨 34.41%，相较沪深 300 指数跑赢 35.72pct。 周度热点回顾 政策端，习近平总书记考察上海时强调要加快建设全球科技创新高地， 发挥人工智能在科技创新中的策源功能，智元机器人联合创始人 &CTO 彭志辉参与交流；河南省领导会见科大讯飞董事长，表示将支 持科大讯飞在人形机器人等领域深化合作，加速产业转型；湖北省政 府要求科学务实推进包括人形机器 ...

盘面上，国防军工、通信设备、铜缆高速连接、消费电子等板块涨幅居前，种业、黄金、PEEK材料、休闲食品等板块跌幅居前。 数据显示，国防军工获得逾76亿元主力资金净流入，通信、机械设备均获得超60亿元净流入，电力设备、电子、汽车也均获得超40亿元净流入，纺织服饰 则连续8日获得净流入。基础化工主力资金净流出逾10亿元，房地产、交通运输、钢铁、美容护理也都净流出超亿元。 展望后市，国泰海通指出，相较于过去，政策预期和展望更为连续和稳定。中国股市风险溢价有望系统性下移，而无风险利率下降与资本市场制度改革将 成为增量入市的关键力量。继续看好中国AH股市，把握做多窗口期。 东兴证券认为，基本面和政策面基本明朗，短期外部因素有所缓解，市场不确定性因素下降，风险偏好有望重回升势。随着行情趋于活跃，投资者可提升 一定仓位，参与结构性行情。大科技板块仍是首选，重点关注机器人、人工智能、智能驾驶等方向；其次是消费方向，重点关注以家电、消费电子、汽车 为代表的政策红利方向。 今日，A股继续稳步上升，创业板指收复2000点大关，上证指数、上证50等则再创阶段性新高。上涨个股远多于下跌个股，市场成交萎缩至1.32万亿元。 | 代码 | ...

Market Overview - The overall market index showed a slight increase in trading volume, with a turnover of approximately 1.5 trillion [1] - The market experienced a high followed by a pullback, indicating a tendency for profit-taking among investors [1] - Sector performance was characterized by rotation, with initial gains in the financial and real estate sectors driven by expectations of interest rate cuts, but these gains could not be sustained [1] Sector Analysis - The military industry sector emerged as the main focus of the day, driven by specific events that catalyzed its rise [2] - The recent increase in military stocks is viewed as a short-term behavior, with a strong foundation for long-term growth due to the need to fulfill 40% of the remaining orders from the previous five-year plan [2] - Despite the positive long-term outlook, many military stocks also experienced a pullback during the overall market decline, indicating volatility [2] Investment Opportunities - The robotics technology sector attracted significant capital flow, particularly in the afternoon, indicating investor interest [1] - Chemical stocks, exemplified by Hongbaoli, received attention due to their strong capital gathering attributes, leading to localized profit-making effects [1] - The military sector's potential for growth is supported by international dynamics, such as the Israel-Palestine conflict, and China's advancements in military equipment [2]

一、 超预期 "双降"高开低走，军工化工领涨，题材轮动加速 1. 大盘指数走势及强度 指数表现：三大指数高开低走，尾盘小幅回升。沪指涨 0.8%报3342点，深成指涨0.22%，创业板 指涨0.51%，市场整体维持震荡上行趋势。 成交放量：两市成交额达 1.47万亿，较前一日放量1321亿，显示市场活跃度提升，资金博弈加 剧。 缺口回补：沪指回补 4月7日跳空缺口，短期技术面偏强，但高开低走显示部分资金兑现意愿较强 ， 后续还要看市场资金重新找回主线节奏 。 2. 盘面热点及行业表现 （1） 军工板块爆发（ 今日 最强 板块 ） 催化因素：印巴冲突升级 +国产大飞机C919商业化加速。 核心个股：晨曦航空（ 20cm涨停）、航天长峰、中航成飞等超20股涨停，板块涨停潮，资金介入 较深。 持续性判断：军工股历来受事件驱动，短期仍有惯性冲高动能，但 同时观察到多股午后炸板，更多 应该是量化资金助攻所致，同时部分个股高位放量明显，还 需关注后续资金承接情况。 （2） 化工板块趋势新高（机构主导） 领涨标的：红宝丽（涨停创历史新高）、中毅达（趋势加速）、渝三峡 A（6连板）。 逻辑支撑：涨价预期（钛白粉、化肥） +业 ...