智通财经APP获悉，东海证券发布研报称，叉车下游应用广泛，周期性特征较弱，与制造业景气程度关 联度较高。未来制造业复苏和仓储物流量的增长，对国内叉车需求呈现积极作用。同时，国内企业正加 速全球化布局，建立海外本土产能与售后服务体系，全球市场渗透率逐步提升。另外，国内叉车龙头正 积极布局智能物流与物流机器人领域，将重塑物流行业竞争格局。 2025年11月25日，杭叉集团在阿联酋迪拜隆重举行杭叉中东公司开业典礼。杭叉中东公司位于阿联酋迪 拜核心区域，依托其国际物流与商业枢纽地位，可高效辐射周边主要市场。公司配套专业仓储设施，业 务涵盖叉车与工业车辆整机及配件的销售、服务、租赁与维修等全流程板块。依托完善的备件储备体系 和快速响应机制，能够显著缩短交付周期，全面提升售后保障能力，为中东区域客户提供更高效、更及 时、更可靠的综合解决方案。中东地区对物流装备的需求正快速攀升，市场展现出强劲的发展潜力。 11月叉车销量内销大增 2025年11月叉车内销增长超两成，呈现持续增长态势，得益于国内叉车需求回升。从国内宏观数据看， 叉车需求与制造业和仓储物流景气度相关，从物流数据看，2025年10月社会物流总额同比+5.1%，保 ...

"智能物流装备是一个黄金赛道，发展空间潜力大。"诺力公司董事长丁毅认为，当前市场对物流系统柔 性化、智能化需求不断增长，"我们将紧抓机遇，通过技术突破、模式创新、生态协同不断提升竞争 力。" 坚持创新驱动，从移动机器人硬件到物流管理、数字化平台等智能软件均实现自主研发；推动业务模式 升级，从一次性设备销售转变为提供涵盖规划、集成、运维的全生命周期服务和解决方案；推进绿色智 能转型，通过叉车"油换电"等举措助力客户降本增效、低碳运营……创立25年来，诺力公司逐步成长为 全球智能物流装备领域龙头企业，八成以上产品出口海外。"未来，企业将重点聚焦AGV与具身智能机 器人技术攻关，持续加大在人工智能、数字化等前沿领域的研发投入，力争早日建成先进的智慧物流创 新中心。"丁毅表示。 举升、对接、落料，一下能抬起4吨重的卷料……走进位于浙江湖州市长兴县的诺力智能装备股份有限 公司生产车间，机器人产品正进行出厂前的测试。 "这是专门为铜箔行业定制的非标产品。"诺力公司资深工程师白海涛说，这款重载全向卷料搬运机器人 实现了窄巷道环境下重载AGV全向移动、毫米级对接、动态称重等关键技术的突破。 技术创新，源自场景需求。"我们生产 ...

Core Insights - The engineering machinery industry is expected to maintain steady growth in 2025, driven by domestic infrastructure investment and overseas market expansion, achieving a high-quality development pattern of "stable growth, structural optimization, and improved efficiency" [10] - The report maintains a "leading the market" rating for the engineering machinery sector, highlighting the potential of intelligent logistics and mining machinery as key investment areas [10] Industry Performance Overview - The engineering machinery industry index has outperformed major market indices, with a year-to-date increase of 33.14% as of December 21, 2025, significantly surpassing the Shanghai Composite Index and Shenzhen Component Index [9][14] - The revenue and net profit of the engineering machinery industry grew by 10.84% and 19.72% year-on-year, respectively, in the first three quarters of 2025, indicating a recovery in operational performance [21][23] Intelligent Logistics Equipment - The demand from e-commerce has driven rapid transformation in the logistics market, with the logistics total amount reaching 263.2 trillion yuan in the first three quarters of 2025, a year-on-year increase of 5.4% [38][49] - Policies at both national and local levels are establishing a supportive framework for the development of intelligent logistics, focusing on technology empowerment, equipment upgrades, and scenario innovation [10][55] Mining Machinery and Tunnel Engineering Equipment - The "14th Five-Year Plan" emphasizes the development of deep-earth economy, with mining machinery showing significant work hour differentiation, particularly for non-road dump trucks [10][19] - The demand for intelligent mining equipment is accelerating due to stringent policies related to carbon neutrality and safety regulations, driving the production of advanced machinery [10][21] Investment Recommendations - The report suggests focusing on companies involved in intelligent logistics equipment such as Anhui Heli and Hangcha Group, as well as traditional earth-moving machinery like SANY Heavy Industry and Zoomlion [10][7] - The mining machinery sector is highlighted for its growth potential, particularly in non-road dump trucks and tunnel boring machines, with companies like Tiedao Heavy Industry and Wuxin Tunnel Equipment recommended for investment [10][7]

机器人概念+人民币贬值受益+智能物流+注册制次新股+新股与次新股 1、根据公司招股说明书：公司自成立以来专注于电动叉车等机动工业车辆的技术研发与产品创新。在 机动工业车辆现有生产技术的基础上，结合行业发展趋势和国内外市场需求，公司以绿色化、数字化、 智能化作为发展方向，充分利用多年技术积累，采用独创的"正向研发" 模式，以客户需求为导向，从 产品外形、功能设计出发，不断开发适应市场需求的产品、工艺与技术，历经多年积淀研发出小金刚、 油改电叉车、搬马机器人等多款具有里程碑意义的产品。公司积极发展和布局移动搬运机器人业务， 2020 年推出具备自动化程度高、灵活性强、安全性好等优势的搬马机器人系列产品，有效减少无效搬 运，降低移动搬运机器人应用门槛。 2、根据2024年年报，公司海外营收占比为51.63%，受益于人民币贬值。 来源：新浪证券-红岸工作室 12月22日，中力股份涨0.33%，成交额3727.45万元，换手率1.96%，总市值148.01亿元。 异动分析 主力没有控盘，筹码分布非常分散，主力成交额840.26万，占总成交额的4.19%。 技术面：筹码平均交易成本为38.98元 3、2025年1月8日互 ...

来源：新浪证券-红岸工作室 12月19日，中力股份涨0.55%，成交额2813.61万元，换手率1.48%，总市值147.53亿元。 异动分析 机器人概念+人民币贬值受益+智能物流+注册制次新股+新股与次新股 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 今日主力净流入67.79万，占比0.02%，行业排名10/35，该股当前无连续增减仓现象，主力趋势不明 显；所属行业主力净流入2486.98万，当前无连续增减仓现象，主力趋势不明显。 区间今日近3日近5日近10日近20日主力净流入67.79万126.33万-256.51万-1012.89万-855.40万 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额856.24万，占总成交额的4.65%。 1、根据公司招股说明书：公司自成立以来专注于电动叉车等机动工业车辆的技术研发与产品创新。在 机动工业车辆现有生产技术的基础上，结合行业发展趋势和国内外市场需求，公司以绿色化、数字化、 智能化作为发展方向，充分利用多年技术积累，采用独创的"正向研发" 模式，以客户需求为导向，从 产品外形、功能设计出发，不断开发适应市场需 ...

与此同时，井松智能的自研技术使得其解决方案具备深度融合的定制化能力。公司的智能叉取机器人并 非单一设备，而是以自研AI为"大脑"的、深度理解仓储流程的整体解决方案。数据显示，该方案可帮助 客户提升物流效率70%—140%，节省人工成本最高达70%，并提升仓储空间利用率3—6倍，能够进一步 推高解决方案的附加值与毛利率。 据井松智能在互动平台表示，公司正在积极进行产品化转型，公司主力产品正在由过去的长周期项目交 付到目前的项目+产品交付双轮驱动。相比之下，标准化FMR及其他智能化产品的毛利显著高于项目交 付类产品。依据公司未来三年的战略规划，公司将加大提升标准化产品的销售占比，使标准化产品业务 收入稳步提升。 与传统叉车巨头相比，井松智能选择了不一样的发展路径：通过全栈自研，特别是自主开发垂类AI模 型及控制系统，实现了核心软硬件的深度耦合与高度集成。该路径的关键突破在于，自研使公司摆脱了 对高价外部技术解决方案的依赖，同时也直接降低了产品的整体成本。 在产品层面，井松智能研发的XGEN ROBOT解决方案，创新性地实现了激光SLAM导航与视觉导航的 深度融合，大幅提升了机器人在复杂动态环境中的感知与决策能力。 ...

Core Viewpoint - The collaboration between Shopee and Dematech aims to innovate and implement smart logistics solutions to enhance sorting efficiency in response to the growing order volume and user experience demands in the fast-developing logistics sector [2][4]. Group 1: Collaboration and Partnership - Shopee and Dematech have established a deep partnership to address logistics pain points, with Dematech providing customized sorting solutions that ensure efficient and stable operations during peak order periods [2][4]. - The signing of an annual framework cooperation agreement marks a significant milestone in their relationship, highlighting mutual trust and Dematech's enhanced role in supporting Shopee's cross-regional logistics development [4][6]. Group 2: Technology and Solutions - Dematech's intelligent sorting system has been implemented in Shopee's sorting centers in Singapore and Brazil, achieving scalable applications across various business scenarios [4][6]. - The intelligent sorting system and digital management platform developed by Dematech offer flexible and efficient solutions, ensuring quick and accurate sorting processes, especially during peak order times [6][8]. Group 3: Future Outlook - Dematech plans to continue supporting Shopee's logistics network with innovative technologies and professional services, positioning smart sorting equipment and automation solutions as core elements for improving efficiency and ensuring fulfillment [8].

Core Viewpoint - The new generation cargo spacecraft "Light Boat" has completed several key technology validations and is set for its maiden flight next year, designed specifically for the Chinese space station to enhance cargo transportation efficiency and reliability [1][6]. Group 1: Technical Features - The "Light Boat" spacecraft weighs approximately 5 tons and features a cargo hold with a four-layer shelf layout, accommodating 40 standard cargo slots with a total loading volume of 9 cubic meters and an overall cargo hold volume of 27 cubic meters [3][4]. - It includes an intelligent cargo management system that allows astronauts to quickly locate and manage items through voice interaction, significantly improving delivery efficiency and reducing on-orbit workload [3][4]. - The spacecraft is equipped with a modular "space refrigerator" with individual cold chain boxes of 60 liters, which can be combined for a maximum total volume of 300 liters, allowing for precise temperature control and stable preservation during transport [3][4]. Group 2: Economic and Operational Aspects - The "Light Boat" employs an integrated single-cabin design that enhances space utilization and allows compatibility with various rocket types for rapid launches [4]. - The current transportation cost is approximately 100,000 yuan per kilogram, with expectations for further reductions through mass production and deepened commercial cooperation [4]. - The spacecraft features both "door-to-door delivery" and "pick-up" capabilities, enabling it to carry waste from the space station back to Earth for atmospheric destruction, thus achieving a closed-loop transportation system [4][6]. Group 3: Strategic Importance - The addition of the "Light Boat" as a backup for cargo transportation will significantly enhance the safety and reliability of material supply to the Chinese space station [6]. - The development unit has previously achieved success with projects like the Beidou navigation satellite and dark matter particle detection satellite, marking a new breakthrough in modular spacecraft and rapid response technology [6].

Core Insights - DeMa Technology has won a framework contract with Shopee to build an intelligent express sorting network, addressing the increasing demands for sorting efficiency due to the rapid growth in logistics and order volume [1] Company Summary - DeMa Technology is collaborating with Shopee, a leading e-commerce platform in Southeast Asia and Brazil, to innovate and implement smart logistics solutions [1] - The intelligent sorting system developed by DeMa Technology has been deployed in Shopee's sorting centers in Singapore, Brazil, and Indonesia, demonstrating scalable applications across various business scenarios [1] Industry Summary - The logistics industry is experiencing rapid development, with a growing emphasis on enhancing sorting efficiency to improve user experience [1] - Shopee is expanding its operations in multiple Southeast Asian markets, including Singapore, Vietnam, the Philippines, Indonesia, Thailand, and Malaysia, as well as continuing its rapid growth in Brazil [1]

Group 1 - The core viewpoint of the news is that Qingdao Huasheng Intelligent Equipment Co., Ltd. has received acceptance for its IPO on the Beijing Stock Exchange, with a planned fundraising of approximately 400 million yuan for automation equipment manufacturing, marketing network construction, and working capital supplementation [2] - The company was established in 2019 with a registered capital of 5,000 yuan, focusing on the research, design, production, sales, and service of intelligent logistics systems centered around automated three-dimensional warehouses [2] - The actual controller of the company, Wang Junshi, holds a combined voting rights proportion of 50.09% through various holdings in related entities [2] Group 2 - Wang Junshi has extensive experience in the industry, having held various managerial positions in companies such as Soft Control Co., Ltd. and Kegao Intelligent before becoming the chairman of Huasheng Intelligent [4] - The company's revenue for the years 2022 to 2024 is projected to be 331 million yuan, 634 million yuan, and 730 million yuan, with net profits of 37.05 million yuan, 65.87 million yuan, and 82.87 million yuan respectively [4] - The gross profit margins for the main business during the same period are 29.33%, 24.28%, and 24.92%, indicating a downward trend [4] - The sales revenue from the top five customers accounts for significant proportions, with the largest customer, Soft Control Co., Ltd. and its affiliates, contributing 38.28% in the first year of the reporting period [4]