中信建投证券表示，特斯拉人形机器人商务沟通量乐观，国产人形机器人出货积极，行业来自于政策、 新品、订单、供应链等多方面的催化不断。Q4我们全面看多人形机器人板块行情，是交易特斯拉第三 代Optimus变化和量产预期的重要窗口期，无惧审厂延后等边际扰动。同时国产链条预计Q4来自于资本 运作、订单出货、场景落地等消息将不断释放。 机器人ETF（562500）是全市场唯一规模超两百亿的机器人主题ETF，成分股覆盖人形机器人、工业机 器人、服务机器人等多个细分领域，帮助投资者一键布局机器人上中下游产业链。场外联接（华夏中证 机器人ETF发起式联接A：018344；华夏中证机器人ETF发起式联接C：018345）。 今日截至10点37分，机器人ETF（562500）上涨0.84%，盘面呈现"V"形走势，从水下震荡上行，强势拉 红实现红盘再向上。持仓股方面，信邦智能领涨10.11%，天智航、南网科技涨幅超6%，固高科技、海 目星涨幅超5%。流动性方面，成交金额超6.30亿元，市场交投活跃；机器人ETF上个交易日获资金净 流入高达8.68亿元，远超市场其他机器人主题ETF，拉长时间线看，近10个交易日共有8个交易日获资 金 ...

昨天（9月28日），由市委市级机关工委、市科技局共同主办的2025年度苏州市大院大所党建联建· 赋能具身智能机器人产业活动在苏州国际路演中心举行。市委常委、市委统战部部长、市委秘书长王飏 出席活动。 活动吸引了苏州大院大所党建联建单位、具身智能机器人企业、平台机构、技术经理人、创业项目 和金融机构代表等百余人参会。各方齐聚一堂，共同推动党建与科技创新深度融合，进一步促进大院大 所精准服务企业、赋能产业发展，为加快培育新质生产力注入新动能。 活动中聘任了首批"海棠先锋·技术经理人"，为大院大所党建联建新成员单位举行了授牌仪式，还 进行了项目路演与银企对接。 据悉，自2022年5月大院大所党建联建启动以来，共组织大院大所常态化开展800余场党建共建活 动，成员单位由35家增加到66家，有效促进了创新要素的充分流动和高效配置。 ...

Core Insights - The event held in Mianyang, Sichuan, focused on "disruptive technologies and future industrial development," featuring discussions on cutting-edge fields such as embodied intelligent robots, nuclear medicine, and materials science [1] - The "Disruptive Technology Industrialization Index Report (2025)" was released, aiming to scientifically assess the transition of disruptive technologies from laboratory to application, providing strategic insights for future industrial trends and resource allocation [1] Disruptive Technology Industrialization Index (DTII) - The DTII was created to quantify the complex process of transforming disruptive technologies from ideas to products and industries, filling a gap in decision-making support for governments, markets, and enterprises [2] - The index features a unique "Five Forces" evaluation framework, which includes: 1. Technological Innovation Power 2. Industrial Development Power 3. Ecological Support Power 4. Future Growth Power 5. Market Transformation Power [2][3] Key Findings - The report identifies three critical findings regarding the core mechanisms and driving forces of disruptive technology industrialization [4] - A significant breakthrough is the revelation of the decisive role of the "R&D market" in early industrialization stages, particularly for technologies like high-temperature superconductors and controlled nuclear fusion, which often lack mature commercial products [4] - The report emphasizes that regions like Beijing, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area serve as irreplaceable "innovation sources," creating a self-accelerating effect through the synergy of technological innovation, industrial development, and ecological support [4] Future Developments - The DTII will continue to evolve by integrating real-time data and AI analysis, enhancing dynamic monitoring and predictive capabilities, and expanding its coverage to strengthen international comparisons [5] - The goal is to transform the index from an assessment tool into a strategic navigation platform, acting as a "barometer" and "catalyst" for deep integration of technological and industrial innovation, contributing to the construction of a strong technological nation [5]

格隆汇9月26日丨富维股份(600742.SH)在互动平台表示，富维股份深耕汽车零部件研发与制造领域三十 多年，发展机器人领域业务有广泛的研发基础及制造优势，这是一次基于自身优势、布局新兴领域、规 划路径清晰的战略延伸。第一是战略协同与优势转化，富维股份可以把丰富的车规级零部件制造经验应 用于机器人领域，具备很好的技术及工艺优势；第二是充分考虑布局新质生产力，机器人（尤其是具身 智能机器人）为中国制造业的前沿重点领域，在此进行战略布局以抓住产业变革机遇，持续推动公司可 持续增长；第三是开发合作与场景落地，目前富维股份已在机器人领域与行业伙伴联合创立实验室，充 分研讨机器人业务及开发场景应用，实现从研发到应用的闭环。欢迎持续关注富维股份在机器人业务的 发展。 ...

Core Viewpoint - The humanoid robot industry is experiencing accelerated commercialization in China, with leading companies securing significant orders and government support driving growth [1] Group 1: Industry Developments - The domestic humanoid robot commercialization is advancing rapidly, with major companies like UBTECH and ZhiYuan receiving large orders, including UBTECH's order amounting to nearly 400 million yuan and ZhiPing's collaboration with HuiZhi for an order worth nearly 500 million yuan [1] - In the overseas market, Figure has completed a $1 billion financing round, and Tesla's Optimus 3 has shown significant improvements in grip precision and operational flexibility [1] - Government initiatives are increasing, with Guangzhou set to release policies to promote the development of the embodied intelligent robot industry, and Henan province accelerating high-end chip research and development [1] Group 2: Standards and Support - The introduction of the new standard "Humanoid Robot Dataset Standard" and the "Pujiang X" platform will provide unified guidelines for data collection and sharing in the humanoid robot sector [1] - The combination of policy support and technological advancements is expected to propel humanoid robot industry chain companies into a rapid growth phase [1] Group 3: Investment Opportunities - The Robot Industry ETF (159551) tracks the Robot Index (H30590), focusing on companies related to industrial automation and service robots, selecting outstanding listed companies in robot technology research, development, and application [1] - The index has a growth-oriented style, emphasizing technological innovation and market potential [1]

今日截至9点55分，机器人板块受压回调，机器人ETF（562500）下跌1.81%，盘初低开后震荡下 探，但前虽然跌落五日均线但仍行走于十日均线之上，中长期趋势依旧向好，回调或为低位买入机遇。 持仓股方面，成分股普遍回撤，夏厦精密领跌5.13%，云天励飞下跌4.65%，江苏雷利、伟创电气、天 准科技等跌幅超3%。流动性方面，盘中成交金额达5.65亿元，市场交投火爆，量能持续释放。规模方 面，机器人ETF单日狂揽5.55亿元，远超同类可比基金，近5个交易日共"吸金"超16亿元，资金汹涌而至 助力份额、规模联袂突破前高：机器人ETF最新份额达198.03亿，最新规模达218.90亿元，均遥遥领先 市场其他机器人主题ETF。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 消息方面，9月25日，宇树科技创始人王兴兴在第四届数贸会上表示，在可预见的未来几年，智能 机器人将会遵 ...

每经AI快讯，有投资者在投资者互动平台提问：公司做的脑机接口碳纤灵巧手，是不是也可以用于人 形机器人？有没有机器人业务拓展具体时间表？ 达瑞电子（300976.SZ）9月25日在投资者互动平台表示，维斯德为脑机客户送样的碳纤智能仿生腿、灵 巧手部件，实现轻量化需求，与机器人领域的应用具有技术适配性。良好的技术适配性，加上并购整合 后，维斯德将获得公司在资金实力、大客户资源、大客户服务能力、规模化生产、严格的质量控制体 系、自动化解决方案以及供应链管理等方面的全方位资源协同，为未来共建材料技术平台向人形机器 人、具身智能机器人等高要求领域的拓展奠定基础。敬请注意风险，理性投资。 （文章来源：每日经济新闻） ...

Core Insights - The end of the visual dividend has led to a simultaneous downward shift in both the supply and payment curves, resulting in a decline in cloud computing SaaS valuations. The narrative around AI has transitioned from "model innovation" in the Internet+ era to "factor monetization," creating space for a "value reassessment" in the 14th Five-Year Plan [1][2] Group 1: AI Industry Transformations - During the 14th Five-Year Plan, the AI industry has undergone five significant qualitative changes, establishing a foundation for "factorization." These changes include a shift from "technology" to "factors," driven by global and domestic transformations alongside the fourth industrial revolution [2] - Key qualitative changes in the AI industry include: 1) Technological transformation with the end of visual dividends and the emergence of the Transformer architecture as a unified engine for AIGC, establishing a foundation for general intelligence [2] 2) Computational transformation with domestic AI chips gradually closing the efficiency gap with foreign counterparts, and a shift in data center forms from IDC to AIDC [2] 3) Data transformation with public data becoming a tradable fiscal element, filling the gap left by land revenue [2] 4) Policy transformation with AI being integrated into social governance, elevating its role from an "industrial tool" to a "transformation engine" [2] 5) Market transformation with a decline in cloud computing SaaS valuations and a shift in AI narratives towards "factor monetization" [2] Group 2: Future Outlook and Investment Opportunities - The 15th Five-Year Plan is expected to see AI factorization manifest through "price discovery, scale trading, and cross-border output," with Agents as the core vehicle [3] - Key aspects of this outlook include: 1) Product dimension changes where interaction paradigms shift to CUI, and Agents evolve from "passive execution" to "autonomous collaboration," marking the first market-based price discovery for factors [3] 2) Supply dimension with a complete domestic closed-loop system for Agents, enabling the definition of "Agent instruction sets" and achieving factor pricing power [3] 3) Demand-side expansion into global southern markets, with a significant population and a projected 9.2% annual growth rate in the digital economy [3] 4) Expansion of five key scenarios over the next five years, with a shift from "project-based" to "subscription-based" consumption frequency [3] Group 3: Investment Recommendations - Investment in the AI industry can follow four main lines: 1) Computational infrastructure, including domestic AI chips, AI servers, intelligent computing centers, and green computing facilities [4] 2) AI Agents and MaaS services, covering vertical industry software, low-code platforms, and system integrators [4] 3) Intelligent terminals and embodied intelligent robots, including smart connected vehicles, AI smartphones/PCs, AR/VR, and the associated industry chain [4] 4) AI and green low-carbon initiatives, involving smart grids, industrial energy conservation, carbon management software, and system integration [4]

编号：20250925 | 投资者关系活动 | □特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | ☑ | 其他（重庆辖区投资者网上集体接待日活动） | | 参与单位名称及 | 线上投资者 | | 人员姓名 | | | 时间 | 2025 年 9 月 25 日 15:00-17:00 | | 地点 | 全景网"投资者关系互动平台"（http://ir.p5w.net） | | 上市公司接待人 | 财务负责人郑海江先生、董事会秘书冉华周先生、证券事务代 | | 员姓名 | 表林键先生 | | 问 | 1、公司的经营状况如何，为何股价跌成这样？ | | | 答：公司目前生产经营稳定。公司聚焦智能化矿山主业，积极 | | | 孵化矿山巡检机器人业务以打造新的利润增长点，通过持续提 | | | 升经营业绩夯实价值基础，适时采取积极的股东回报措施以提 | | | 升公司投资价值。 | | 问 投资者关系活动 | 2、今年 A 股市场机器人产业受到资本欢迎，市场前景广阔， | | | 国家也大力支持发展 ...

Group 1: Company Overview and Business Model - The company adopts a "medical care, health education, and research" integrated model for its health and wellness business, focusing on standardization and replicable light asset management [2] - Current operational projects include Shanghai Fengxian Jinhai Yuxin Nursing Home, Jiangsu Suqian Yuxin Sihong Health Center, and Zhejiang Wenzhou Longgang Medical and Health Education Research Demonstration Park [2][3] Group 2: Operational Capacity and Performance - The Shanghai Fengxian Jinhai Yuxin Nursing Home has approximately 310 approved beds, while the Jiangsu Suqian Yuxin Sihong Health Center has 220 beds, and the Zhejiang Wenzhou Longgang facility has 610 beds (350 for elderly care and 260 for nursing) [3] - The occupancy rate of the Shanghai Fengxian Jinhai Yuxin Nursing Home has reached over 95% since its operation began in October 2021, while the Zhejiang facility has achieved over 60% occupancy after one and a half years of operation [4] Group 3: Pricing Structure - The pricing for nursing institutions includes bed fees, nursing fees, meal fees, and value-added service fees, with the average monthly cost in Shanghai ranging from 4,000 to 8,000 RMB [5] Group 4: Technological Innovations - In April 2025, the company established a strategic partnership with Jinshi Robotics and Shanghai University to develop smart rehabilitation robots and enhance digital and intelligent services in elderly care [6] - The company is currently in the technology research and development phase, focusing on integrating smart technology into elderly care services [7] Group 5: Impact of Smart Technology - The introduction of smart devices aims to enhance service quality and reduce management costs in elderly care settings [8]