后面是国产芯片，其实这个方向短期我们是寄予一定期望的，毕竟从易中天的海外链到中微虹的国产 链，这个方向是不是有细分走出来值得关注，至于机器人，今天受到节中传闻的利空影响表现偏弱，不 过调整过后仍有一次回流机会，到时候视回流力度决定高度空间，剩下的题材中，也就军工和AI智能 体有看点，军工跟委国的消息有关系，但是强度很一般，AI智能体则是跟春晚有关系，但是得先走出 持续性才行，毕竟之前也干过一波流的事。 在A股只有做对题材才好赚钱，明天到底哪个题材机会最大呢？首先商业航天是我们节前就反复提示 的，今天16家涨停，强度仅次于脑机接口，只要你运气不是很差，大概率都能从容获利，就算你今天没 走的，也别担心，后面还会给你机会，这个方向依然承载着短线资金的赚钱效应，近期如有调整仍可以 考虑上车，而脑机接口今天很明显是量化平铺，27家涨停，启动就是高潮，当然也不是说脑机就不可能 走出来，最起码得像之前的商业航天那样能扛得住分歧才行，正常明天是前排晋级后排分歧的走法，明 天走完如果仍然继续跟踪的话我们会在明晚的视频中予以提醒，请大家及时点赞关注，方便后续跟踪观 察。 说完题材我们再来聊聊大盘，今天上证走出12连阳，这已经是创 ...

Group 1 - The company, Dianguang Media, is actively promoting the integration of "culture + technology + tourism" [1] - The company plans to explore the low-altitude economy and the integration of robotics with cultural tourism [1] - The company aims to enhance the experience and operation of scenic spots through technological empowerment [1]

Market Performance - The Shanghai Composite Index closed with a slight increase of 0.13% during the last week of 2025, while the ChiNext Index and the STAR 50 Index experienced declines of 1.25% and 0.12% respectively [2] - The Satellite Industry ETF (159218.SZ) surged by 8.74%, leading the ETF performance, while the Robot 50 ETF (159559.SZ) and Automotive Parts ETF (562700.SH) rose by 5.32% and 4.36% respectively [2][6] Fund Flows - Overall, stock ETFs saw a net outflow of 3.9 billion yuan, while bond ETFs experienced a significant net inflow of 25.099 billion yuan, indicating a preference for holding bonds into the new year [2][9] - The Short-term Bond ETF (511360.SH) attracted 5.137 billion yuan, while the major broad-based index ETFs like the Shanghai 50 ETF and CSI 300 ETF faced substantial outflows of 3.068 billion yuan and 2.304 billion yuan respectively [4][9] Sector Highlights - The commercial aerospace sector is expected to enter a period of rapid growth over the next two years, driven by technological advancements and increasing demand for launch services and satellite networking [6] - The introduction of local regulations promoting the embodied intelligence robot industry and significant investments in robotics are contributing to the strong performance of the robotics sector, with the Robot 50 ETF and Robot ETF Fund rising by 5.32% and 3.67% respectively [6] ETF Size Changes - The Short-term Bond ETF's size increased by 5.158 billion yuan, reaching 70.223 billion yuan, marking its second time surpassing the 70 billion yuan threshold [11] - Conversely, the Gold ETF (518880.SH) saw a decrease of 3.62%, with its size shrinking by 3.205 billion yuan to 93.985 billion yuan [11] Top Performing ETFs - The top gaining ETFs for the week included the Short-term Bond ETF (511360.SH) with an increase of 5.158 billion yuan, followed by the Non-ferrous Metals ETF and the Sci-Tech Bond ETF with inflows of 3.348 billion yuan and 2.811 billion yuan respectively [12] - In contrast, the top losing ETFs included the CSI 300 ETF with a decrease of 4.807 billion yuan, and the Shanghai 50 ETF with a drop of 3.927 billion yuan [13]

格隆汇1月5日丨彩讯股份(300634.SZ)公布，公司拟与专业投资机构深圳成电大为私募股权基金管理合 伙企业（有限合伙）（简称"成电大为"）的子公司电科策源技术发展（北京）有限公司（下简称"电科 策源"）、公司董事兼总经理白琳先生、董事张斌先生及其他有限合伙人共同认购常州市成电明德创业 投资合伙企业（有限合伙）（简称"合伙企业"、"投资基金"）基金份额，并签署《常州市成电明德创业 投资合伙企业（有限合伙）合伙协议》。该投资基金拟定向投资于某机器人公司。公司作为有限合伙人 之一，拟使用自有资金认缴出资1,000万元，认缴出资比例为9.2593%。 ...

0:00 网友：机器人公司CEO太危险 飞踢给CEO王兴兴吓出表情包 ， ...

Investment Rating - The report maintains a positive outlook on the North Exchange, suggesting a "overweight" rating for the industry, indicating an expected increase in performance exceeding the market benchmark by more than 10% over the next 6-12 months [31]. Core Insights - The North Exchange market is experiencing a short-term consolidation, but the expectation of favorable policies continues to strengthen. Key policies in sectors such as automotive digital transformation and commercial aerospace are anticipated to provide opportunities for high-end manufacturing companies listed on the North Exchange [3][25]. - The technology sector is highlighted as a leading driver of structural opportunities, with companies focusing on new productivity areas such as AI, commercial aerospace, and robotics showing significant growth potential [26]. - The North Exchange's valuation remains lower than that of the Sci-Tech Innovation Board, presenting a favorable cost-performance ratio for investors [27]. Summary by Sections Market Overview - The average daily trading volume of all A-shares on the North Exchange reached 19.42 billion yuan, a decrease of 2.8% week-on-week. The North Exchange 50 index fell by 1.55%, with an average turnover rate of 2.7% [7][15]. - The top five gainers for the week included Hengdongguang (878.2%), Tianming Technology (65.8%), and Lifan Holdings (29.9%), while the top five losers included *ST Guandao (-61.3%) and Hongyu Packaging (-32.0%) [15][17]. Key News and Policies - The Ministry of Finance emphasizes the need to enhance the effectiveness and precision of fiscal macro-control to support domestic demand expansion [2][22]. - The automotive industry is set for a digital transformation, with a goal to improve the maturity level of intelligent manufacturing capabilities by 2027 [20]. Core Driving Factors - The report identifies a strong expectation of policy dividends and the potential for incremental capital inflow into the market, particularly with the introduction of the North Exchange 50 ETF and other key policies [25]. - The technology sector is expected to lead the market, with companies like Tianli Composite and Tianming Technology showing significant stock price increases due to their focus on advanced technologies [26]. Investment Recommendations and Strategies - Institutional investors are advised to adopt a "steady layout, dual-line advancement" strategy, focusing on policy-driven technology growth sectors and selecting companies with high R&D investment and strong technological barriers [28]. - The report highlights the value of new share offerings, noting an average first-day increase of 368% for new stocks in 2025, with an expected increase in supply in 2026 [28].

Market Overview - A-shares opened positively with the Shanghai Composite Index closing at 4023.42 points, up 1.38%, while the Shenzhen Index rose 2.24% and the ChiNext Index increased by 2.85% [1][7] - A total of 4185 stocks rose, with 107 hitting the daily limit, while 1168 stocks fell, including 9 that hit the lower limit [1][7] - The total trading volume reached 2.57 trillion yuan, an increase of 501.5 billion yuan or 25% from the previous trading day, indicating a significant surge in trading activity [1][8] Sector Performance - The brain-computer interface sector was notably active, surging by 13.70%, followed by the hyperbaric chamber sector with a 7.01% increase and the insurance sector rising by 6.72% [3][10] - The brain-computer interface sector saw 28 stocks hit the daily limit, with the stock BeiYikang (920119) on the Beijing Stock Exchange rising by 29.98% [3][10] Key Companies and Innovations - Elon Musk's Neuralink is set to begin large-scale production of brain-computer interface devices in 2026, which has significantly influenced market sentiment [3][10] - Neuralink's latest valuation stands at 9 billion USD, having raised 650 million USD in its E-round funding, with investors including Founder Fund, Google Ventures, and ARK Invest [5][12] - The commercial space sector remains active, with a 1.81% increase, continuing to set new highs [5][12] Notable Stocks - Zhejiang Shibao, a leading stock in the L3 sector, saw a peak limit increase but closed with a 5.73% rise [14][15] - BlueFocus, influenced by Meta's acquisition of Agent company Manus, achieved a two-day limit increase with a total rise of over 54% in three days, reaching a market capitalization of 49.617 billion yuan [15]

Core Viewpoint - The article emphasizes the strategic partnership between SF Express and Kales, highlighting the importance of human capital in investment decisions and the potential for technological advancements in the logistics industry through robotics [12][22]. Group 1: Company Overview - Kales Technology Group has submitted a listing application to the Hong Kong Stock Exchange, positioning itself as a leading player in China's logistics robotics sector and a representative of comprehensive in-house logistics robot solutions [2][13]. - SF Express holds approximately 14.1% of Kales' shares, making it the largest external institutional shareholder, while Kales' founders control over 40% of the voting rights, establishing them as the core decision-makers [2][13]. Group 2: Strategic Importance of Kales - SF Express is focused on improving efficiency and reducing costs in logistics, which are determined by internal processes such as warehousing, handling, and sorting, rather than just the final delivery [15][17]. - Kales specializes in enhancing core logistics operations through increased storage density, flexible handling, and high-intensity sorting, thereby transforming logistics infrastructure rather than merely manufacturing robots [16][19]. Group 3: Partnership Dynamics - SF Express recognizes the need for a strong technological partner like Kales, rather than attempting to develop a large-scale technology division independently [18][20]. - Kales has demonstrated its capabilities through successful implementations within SF Express and other major clients, showcasing its market-validated technology and integration of hardware and software into a complete intelligent logistics system [19][20]. Group 4: Founders' Background - The founders of Kales, Gu Chunguang and Yang Yan, possess impressive academic and professional backgrounds, including degrees from Tsinghua University and MIT, as well as experience in strategic consulting and large enterprises, making them well-equipped to drive technological innovation [21][22]. - SF Express's choice to partner with Kales reflects a commitment to a team capable of creating sustained value and driving significant industry transformation through robotics [22].

Market Overview - The A-share market welcomed the first trading day of 2026 with a significant rise, with the Shanghai Composite Index achieving a 12-day consecutive increase, closing at 4023.42 points, up 1.38% [2][3] - The Shenzhen Component Index rose by 2.24% to 13828.63 points, while the ChiNext Index increased by 2.85% to 3294.55 points, indicating a strong bullish trend across the market [2][3] - Total trading volume in the Shanghai and Shenzhen markets reached 25.675 trillion yuan, a substantial increase of 501.6 billion yuan compared to the previous trading day [2][3] Sector Performance - The insurance sector led the market gains, supported by strong premium performance and favorable market conditions, continuing its upward trend since December [3] - In contrast, the banking sector experienced a decline, while the securities sector began to show strength later in the day, highlighting the divergence in performance among different financial sectors [3] Emerging Trends - A new hotspot emerged in the market with the brain-computer interface concept, spurred by comments from Elon Musk, leading to over thirty related stocks hitting the daily limit [4] - However, the stocks within this concept are mixed, primarily driven by speculation, and will likely undergo a selection process in the future [5] Key Stocks - Major contributors to the index rise included leading liquor stocks, with Kweichow Moutai increasing by 3.24% and Wuliangye by 1.85%, which helped stabilize the index at high levels [5] - Conversely, the "three barrels of oil" sector saw significant declines, particularly PetroChina, which fell by 3.27%, influenced by changes in the Venezuelan oil supply situation [5] International Impact - The situation in Venezuela is expected to have profound effects on international oil supply, potentially leading to lower oil prices, which could impact the energy market and related sectors [6] - The Hang Seng Index did not maintain its upward trend from the first trading day, experiencing fluctuations but ultimately closing strong [6]

Core Insights - Company has received a significant order from a North American electric vehicle manufacturer, with a project lifecycle of approximately 8 years and a total sales amount of about 7.8 billion yuan, expected to start mass production by the end of 2026 [1] - The company has established itself as a core supplier in the Tesla supply chain and is expanding its global footprint with production bases in Mexico and Thailand [2] - A control change is planned, with the Guangzhou Industrial Investment Holding Group set to become the new controlling shareholder, acquiring approximately 27% of the company's shares [3] Group 1 - The company will supply powertrains, body parts, subframes, and battery boxes to the North American client, enhancing its market share and competitive advantage [1] - The production for the new project will take place in the company's facilities in China and Mexico, indicating a focus on localizing supply chains [1] - The total sales amount mentioned is an estimated figure, and actual procurement quantities will be determined by future orders [1] Group 2 - The Mexican production base is set to begin operations in June 2025, covering the entire production chain from raw material procurement to finished product manufacturing [2] - The company is also expanding into the energy storage and robotics sectors, with significant revenue growth in its energy storage business, achieving approximately 300 million yuan in revenue in the first half of 2025 [2] - The Thai production base is expected to start operations in the second half of 2026, focusing on serving the Southeast Asian electric vehicle and high-end manufacturing industries [2] Group 3 - The planned control change involves the current controlling shareholder transferring 5% of shares to the Guangzhou Industrial Investment Holding Group, which will lead to a shift in the company's actual controller to the Guangzhou municipal government [3] - This change in control may impact the company's strategic direction and operational management moving forward [3]