2、英伟达创始人兼CEO黄仁勋出席第三届链博会开幕式并致辞。他表示，中国的开源AI是推动全球进 步的催化剂，下一波浪潮是机器人。目前，中国有数百个模拟数字孪生的研究项目，很多机器人是通过 英伟达的Omniverse训练出来的。下一波能够理解物理世界，并且执行任务的AI将在10年内出现，它将 彻底改变现有的工厂模式。 今日关注 1、7月16日，第三届中国国际供应链促进博览会在京开幕。国务院副总理何立峰致辞强调，中国是全球 产业链供应链的重要环节，一直以实际行动保障全球产业链供应链稳定运行。中国将坚持分工协作、开 放包容，做全球产业链供应链互利共赢的推动者，促进全球产业链供应链数字化、智能化、绿色化转型 升级。 宏观经济 1、7月16日，国务院总理李强主持召开国务院常务会议，研究做强国内大循环重点政策举措落实工作； 听取规范新能源汽车产业竞争秩序情况的汇报；听取关于2024年度中央预算执行和其他财政收支审计查 出问题初步整改情况的汇报；审议通过《国务院关于修改 <中华人民共和国外国人入境出境管理条例> 的决定（草案）》。 2、7月16日，商务部发布关于做好境外投资者以分配利润直接投资税收抵免政策落实工作的通知。通 ...

中金研究 目前国内化工产品价格指数、利润率及行业估值均处于偏低水平。全球化工品需求仍然较弱，但是国内化工行业资本开支持续下降，海外落后产能加 快退出，以及政策多次强调"反内卷"等，我们预计行业供给有望逐步迎来积极变化。 行业资本开支继续下降，海外落后产能加快退出。 2024年和1Q25石化化工上市公司资本开支同比分别下降18.3%/18.5%。海外落后产能加快退出，2023 年-2024年10月期间欧洲包括芳烃、烯烃及聚合物等相关化工品产能合计退出1,100万吨。2025年以来西湖化学、道达尔、SABIC、英力士及日本化工企业 相继宣布将关闭位于欧洲和日本等基地的产能，我们认为海外化工产能的退出，有助于缓解相关化工品全球供需的矛盾。 点击小程序查看报告原文 行业下行周期持续约3年时间，行业利润率处于低位。 2025年初至今中国化工产品价格指数下降6.4%，目前处于2012年以来的15.6%分位。2H22以来行业 下行周期已经持续约3年时间，2025年1-5月化学原料及制品利润总额/营业收入比值为4.10%，处于2017年以来低位。1Q25石化化工上市公司毛利率和净利 率分别为15.83%/5.07%，也是处于 ...

【钛媒体综合】7月16日消息，英伟达创始人兼首席执行官黄仁勋出席第三届中国国际供应链促进博览 会开幕式并参加相关活动，这也是黄仁勋今年年内第三次来华。以下是黄仁勋发言速览： 1.中国有超过150万名开发者在NVIDIA平台上开发，将他们的创新变为现实。由中国孕育并开源共享的 DeepSeek、Alibaba、Tencent Hunyuan、MiniMax、Baidu Ernie Bot等世界级大模型，正在推动全球AI快 速发展。 2.中国的开源AI是推动全球进步的催化剂, 让各国和各行业都有机会参与这一AI革命。开源同样是保障 AI安全的关键，有助于推动国际社会在技术标准、性能基准和安全防护措施方面的协作。 3.今天AI也是我们的基础设施，就像电和过去的互联网一样，AI也在重塑供应链，彻底改变我们的生产 与物流方式。中国的供应链是个奇迹。 4.中国已有数百个项目运用NVIDIA Omniverse模拟数字孪生，用于设计和优化工厂和仓储。而机器人在 NVIDIA Omniverse虚拟世界中进行训练，以便能够在物理世界中与人类安全协作。 5.AI的下一波浪潮将是机器人系统，它具备推理与执行能力，并且能够理解物理 ...

Core Viewpoint - Jinli Permanent Magnet is experiencing significant growth in its performance, with a projected net profit increase of 151% to 180% year-on-year for the first half of 2025, indicating a strong recovery after a brief adjustment period in 2023-2024 [1][2]. Financial Performance - The company expects a net profit of 300 million to 335 million yuan for the first half of 2025, compared to a net profit of 29.1 million yuan in 2024, which represents a decrease of 48.37% [2]. - In Q1 2025, Jinli Permanent Magnet reported a revenue of 1.754 billion yuan, a year-on-year increase of 14.19%, and a net profit of 161 million yuan, up 57.85% [2][5]. - The projected non-net profit for the first half of 2025 is between 230 million and 265 million yuan, reflecting a substantial growth of 576% to 679% [1][2]. Research and Development - Over the five years from 2020 to 2024, the company invested a total of 1.275 billion yuan in R&D, reinforcing its core technological advantages [1][5]. - The annual R&D investments were 103 million yuan, 160 million yuan, 337 million yuan, 354 million yuan, and 321 million yuan respectively [5]. Market Position and Applications - Jinli Permanent Magnet specializes in high-performance neodymium-iron-boron permanent magnetic materials, which are widely used in sectors such as new energy vehicles, wind power generation, and industrial robotics [2][3]. - The company has established long-term partnerships with leading enterprises in various fields, including being a primary supplier for Tesla and collaborating with Huawei on humanoid robot servo motors [4][5]. Production Capacity and Expansion - As of the end of 2024, the company had a production capacity of 38,000 tons per year for high-performance rare earth permanent magnetic materials [5]. - A new project to build a green manufacturing facility with an annual capacity of 20,000 tons is underway, aiming to reach a total capacity of 60,000 tons by 2027 [5]. - The utilization rate of newly built production capacity exceeded 90% in Q1 2025, with significant increases in production and sales volumes compared to the previous year [5]. Asset Growth - The total assets of Jinli Permanent Magnet increased from 3.52 billion yuan in 2020 to 12.3 billion yuan in 2024, marking a growth of 249.43% [5]. - As of the end of Q1 2025, the total assets reached 13.78 billion yuan, representing an 18.79% year-on-year increase and setting a new historical high [5].

长江商报消息 ●长江商报记者 潘瑞冬 汽车零部件供应商伯特利（603596.SH）拟投资新兴领域。 7月15日晚间，伯特利披露对外投资公告，其拟出资1.98亿元参与投资合伙企业，持股比例为99%，资 金将主要投向人形机器人、汽车智能化、出行新技术、低空经济等领域的高成长性的未上市企业股权。 长江商报记者梳理发现，自2018年上市以来，伯特利围绕汽车零部件主业多次参与对外产业投资，拓展 业务能力。从业绩表现来看，2019年至2024年的6个年度，伯特利归母净利润持续增长，上市至今累赚 约46.7亿元。 1.98亿加码新兴领域 伯特利拟通过对外投资加码人形机器人、汽车智能化等产业赛道。 2022年，伯特利子公司出资5850万元与吉利控股共同成立台州双利汽车智能底盘系统有限公司，伯特利 持股65%，专注于智能底盘线控制动产品的研发与生产。 对于此次对外投资，伯特利表示是基于战略发展规划和业务协同需要，一方面有利于提升公司的资金使 用效率；另一方面，有利于拓展公司业务能力，增强市场竞争力与长期盈利能力。 净利润连续6年增长 根据最新公告，伯特利拟与金鼎私募共同投资设立共青城伯金创业投资合伙企业（有限合伙）。金鼎私 募 ...

基金管理人：鹏华基金管理有限公司 基金托管人：国投证券股份有限公司 [重要提示] 1、鹏华国证机器人产业交易型开放式指数证券投资基金（以下简称"本基金"）的募集及其基金份额的 发售已获中国证监会证监许可〔2025〕982号文注册。中国证监会对本基金的注册并不代表中国证监会 对本基金的风险和收益作出实质性判断、推荐或者保证。 2、本基金是交易型开放式，股票型基金。 3、本基金管理人为鹏华基金管理有限公司，基金托管人为国投证券股份有限公司，登记机构为中国证 券登记结算有限责任公司。 4、本基金募集期为2025年07月21日至2025年08月01日，通过网上现金认购、网下现金认购2种认购方式 公开发售。本基金目前暂不开通网下股票认购，若后续开通网下股票认购，基金管理人届时将另行公 告。基金管理人可根据募集情况适当延长或缩短本基金的募集期限并予以公告。 5、网上现金认购是指投资人通过基金管理人指定的具有基金销售业务资格的深圳证券交易所会员用深 圳证券交易所网上系统以现金进行的认购，网下现金认购是指投资人通过基金管理人及其指定的发售代 理机构以现金进行的认购。 6、本基金募集对象为符合法律法规规定的可投资于证券投资基金 ...

湖北荆楚人形机器人有限公司法定代表人、华中科技大学机械科学与工程学院教授赵兴炜介绍，"荆 楚"机器人已实现产业化，产品应用场景遍布工业生产、文旅、应急消防、巡检、仓储等10多个领域。 后续，将持续深化技术研发，拓展更多高价值应用场景，助力产业向高端化转型。 当天，人形机器人整机新品"光子"、人形机器人驱动关节模组新品正式发布。据悉，"光子"机器人已实 现展厅讲解、商超导览、前台接待、商业表演等场景落地，未来将向政务、工业、养老等领域拓展。 (完) 中新社北京7月16日电 2025湖北省人形机器人产业链对接会16日在于北京举行的第三届中国国际供应链 促进博览会期间(下称"链博会")举办。湖北人形机器人领域科研成果、人形机器人新产品发布亮相。 本次对接会以"链动创新前沿，赋能新质未来"为主题，展现湖北人形机器人产业发展优势与潜力，推动 产业链上下游精准对接。 湖北省贸促会主任胡中海表示，该省深化智能制造、智慧医疗、应急救援、特种作业、家庭服务等多元 应用场景赋能，推动人形机器人示范应用。 数据显示，武汉已集聚50余家人形机器人相关重点企业，涵盖整机研制及"大脑""小脑""肢体"等全环 节。该市今年出台举措，力争到 ...

7月16日，30多摄氏度的天气里，英伟达首席执行官黄仁勋忙着在北京"赶场"：上午一身唐装亮相链博 会，用中文向观众问好；下午又穿回皮衣，顶着太阳满头汗地在前门接受采访。一天的工作结束后，黄 仁勋还透露，会直接从北京飞回家，因为"很想念小狗们"。 这已经是黄仁勋今年第三次到访中国。不过，这次有些特殊，这是他首次在中国官方重大活动中正式亮 相，首次尝试用中文演讲，首次公开穿唐装。 而这次中国行的信号也十分明确，一整天的行程下来，黄仁勋可谓充分释放了对国内全产业链的友好态 度：中国的AI发展情况和高新产业，黄仁勋赞了；明星产品和话题企业，黄仁勋见了；同样搞AI芯片 的国产厂商，黄仁勋也提了。 当然，他带来的远不止姿态，还有H20芯片重返中国市场、将推出 RTXpro的消息。黄仁勋直言不讳地 表达了英伟达的"野心"：希望未来有更先进的芯片进入中国，英伟达始终保持在华的发展势头，希望英 伟达的增长才刚刚开始，而不是结束。 7月16日，在北京前门的一条老胡同里，穿着标志性黑皮衣走进媒体"包围圈"的黄仁勋显然没想到，这 场采访不得不比原定计划提前近半小时开始。然而，刚开始半小时左右，不少媒体的设备就因高温过 热"罢工"，黄 ...

Summary of Key Points from Conference Call Records Industry Overview - The humanoid robot industry is experiencing rapid iteration with a research and development cycle of approximately two months, indicating short-term investment opportunities within the sector [1][3] - The supply chain structure is evolving, with clear opportunities for secondary and tertiary suppliers, particularly in the motor sector, including high-density motors, slope reducers, and tactile sensors [1][3] Company Insights Zhiyuan Technology - Zhiyuan is recognized as the fastest commercializing company in China, adopting a business model similar to Apple's ODM model, which is expected to create investment opportunities in the resource chain by 2025 [1][3] Jack Co., Ltd. - Jack Co. has a unique position in the apparel industry, with equipment covering nearly all workstations, showcasing significant advantages in automation upgrades [1][4] - The company aims to enhance equipment efficiency from 30% to over 50% or even 60%, driven by strong demand for automation in labor-intensive industries, particularly in coastal regions [6][7] - Jack's main revenue is approximately 6 billion, with the template machine market space estimated at 30 to 40 billion, indicating substantial growth potential [8] Hengli Hydraulic - Hengli Hydraulic is currently at a cyclical low but is expected to see accelerated growth in the third quarter, with profit growth projected to exceed 30% [9] - The company is positioned to benefit from increased market share in excavators and aerial work platforms, which are also at cyclical lows [9] Suochen Technology - Suochen Technology is the only private asset in China with a foothold in the physical AI simulation platform, targeting revenue of 30 to 50 million yuan by 2025 and 2026 [2][23] - The company has made strategic acquisitions to enhance its capabilities and expand industry channels, with a projected compound growth rate of 25% [2][26] Market Dynamics - The apparel industry is under pressure due to rising labor costs, leading to a strong demand for automation solutions [7] - The domestic market is expected to gradually recover, with overall performance improving in the second half of the year [11] Technological Trends - The humanoid robot sector is advancing faster than traditional manufacturing and new energy vehicles, primarily due to challenges in "smart brain" development rather than hardware R&D cycles [2] - There are ongoing debates regarding the paths of reinforcement learning and large models in AI development, which could impact the future of humanoid robots [2][16] Investment Recommendations - Focus on core companies within the supply chain and technology iterations in the humanoid robot sector, particularly companies like Hengli Hydraulic and Jack Co. [3][9] - Monitor the developments of Suochen Technology, given its unique market position and growth potential in the physical AI domain [24][29] Conclusion - The humanoid robot industry presents significant investment opportunities driven by rapid technological advancements and evolving supply chains. Companies like Jack Co. and Suochen Technology are positioned for strong growth, while Hengli Hydraulic is expected to rebound from cyclical lows.

Core Viewpoint - The article discusses the recent strategic investment in Shanghai Zhiyuan New Technology Co., Ltd. (Zhiyuan Robot) by Charoen Pokphand Group, highlighting the company's ongoing financing rounds and its strategic direction in the humanoid robot industry [1][2]. Financing Overview - Zhiyuan Robot has completed a total of 11 financing rounds, with the latest investment from Charoen Pokphand Group following previous rounds led by Tencent and JD.com [1][2]. - The company has raised significant amounts in various rounds, including over 600 million yuan in the A++++ round and an estimated 15 billion yuan in the B round [3]. Strategic Acquisition - Zhiyuan Robot acquired a 66.99% stake in the listed company Shuangwei New Materials for approximately 2.1 billion yuan, marking a significant move in its growth strategy [4]. - Following the acquisition, Shuangwei New Materials' market value surged from 3.138 billion yuan to 9.3741 billion yuan, indicating strong market confidence in the acquisition [5]. Business Model and Market Position - The company employs a strategy focused on technology-driven development, order-driven growth, and ecosystem co-construction, positioning itself as a leader in the humanoid robot sector [9][10]. - Zhiyuan Robot aims to achieve approximately 1 billion yuan in revenue for 2024, with expectations of several billion yuan in revenue for the current year [11]. Ecosystem and Collaborations - The company has established various partnerships and joint ventures with over 30 listed companies, enhancing its capabilities in the humanoid robot market [12]. - Recent contracts include a significant order from China Mobile for humanoid biped robots, valued at 78 million yuan [11]. Market Outlook and Challenges - Despite the positive developments, the article notes that the commercialization of humanoid robots remains challenging, with many companies still in the proof-of-concept stage [13]. - The competitive landscape is intensifying, and while Zhiyuan Robot has made significant strides, the long-term sustainability of its business model and technology remains to be seen [13][14].