1月7日，工业和信息化部等8部门印发《"人工智能+制造"专项行动实施意见》（下称《意见》），加快 推进人工智能技术在制造业融合应用，打造新质生产力，全方位、深层次、高水平赋能新型工业化。其 中提到，到2027年，我国人工智能关键核心技术实现安全可靠供给，产业规模和赋能水平稳居世界前 列。推动3~5个通用大模型在制造业深度应用，形成特色化、全覆盖的行业大模型，打造100个工业领 域高质量数据集，推广500个典型应用场景。 《意见》要求，推动重点领域智能化升级。加强人工智能与信息通信网络协同，推动人工智能与工业互 联网平台融合赋能，研发面向工业互联网等基础设施的数据集、大模型、智能体，推进人工智能技术在 基础设施规划、建设、运营、维护等环节深入应用。深化人工智能技术在绿色制造领域融合应用，针对 能源和碳排放管理、资源循环利用等场景需求，研发推广智能化绿色化协同解决方案。打造一批面向行 业的应用安全解决方案，加快安全大模型、智能体等落地应用，构建安全运行体系，提升工业领域安全 水平。 《意见》还提出，加速智能终端升级。支持端侧模型、开发应用工具链等技术突破，培育智能手机、电 脑、平板、智能家居等人工智能终端。聚焦工 ...

Core Viewpoint - Tianqi Co., Ltd. has shown fluctuations in stock performance, with a recent increase in share price despite a year-to-date decline, indicating potential volatility and investor interest in the company [1]. Group 1: Stock Performance - On January 8, Tianqi's stock rose by 3.68%, reaching 22.53 CNY per share, with a trading volume of 4.23 billion CNY and a turnover rate of 5.31%, resulting in a total market capitalization of 90.62 billion CNY [1]. - Year-to-date, Tianqi's stock price has decreased by 0.40%, with a 3.84% drop over the last five trading days, but has increased by 37.80% over the last 20 days and 40.90% over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on January 6, where it recorded a net buy of -39.48 million CNY, with total buy transactions of 194 million CNY, accounting for 8.63% of total trading volume [1]. Group 2: Company Overview - Tianqi Automation Engineering Co., Ltd. is located in Wuxi, Jiangsu Province, established on November 18, 1997, and listed on June 29, 2004. The company specializes in automated conveyor systems, automated storage systems, and related software, as well as wind turbine development and recycling of scrapped vehicles [2]. - The company's revenue composition includes 62.73% from automotive intelligent equipment, 14.54% from heavy machinery, 11.02% from lithium battery recycling, 4.87% from recycling equipment, 4.83% from bulk material conveying equipment, and 2.02% from other sources [2]. - As of September 30, the number of shareholders in Tianqi was 56,300, a decrease of 7.72% from the previous period, with an average of 6,294 circulating shares per person, an increase of 8.36% [2]. Group 3: Financial Performance - For the period from January to September 2025, Tianqi reported a revenue of 1.964 billion CNY, a year-on-year decrease of 5.86%, while the net profit attributable to shareholders was 67.20 million CNY, reflecting a significant year-on-year increase of 215.81% [2]. - Since its A-share listing, Tianqi has distributed a total of 182 million CNY in dividends, with 11.85 million CNY distributed over the past three years [3]. - As of September 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 4.7125 million shares, an increase of 1.8935 million shares from the previous period [3].

Market Overview - The Hong Kong stock market opened lower on January 8, with the Hang Seng Index down 0.59% at 26,302.78 points, the Hang Seng Tech Index down 0.44% at 5,713.53 points, the National Enterprises Index down 0.43% at 9,099.63 points, and the Red Chip Index down 0.14% at 4,109.34 points [1] - Major tech stocks mostly declined, with Alibaba down 1.58%, Tencent down 0.96%, JD.com down 0.79%, Xiaomi down 0.42%, Meituan down 0.77%, and Bilibili down 0.47% [1] - New stocks listed today included Zhihui, which rose over 3%, Tianshu Zhixin, which surged over 31%, and Jingfeng Medical-B, which increased over 36% [1] Company News - Xinyi International (00732.HK) reported a cumulative net operating revenue of approximately HKD 16.534 billion for 2025, a year-on-year decrease of about 7.3% [2] - China Overseas Development (00688.HK) announced a cumulative contract property sales amount of approximately RMB 251.231 billion for 2025, down 19.1% year-on-year [2] - Greentown China (03900.HK) reported a total contract sales amount of approximately RMB 251.9 billion for 2025, a decrease of 9% year-on-year [2] - China Overseas Hongyang Group (00081.HK) achieved a contract sales amount of RMB 2.57 billion for December 2025, down 43.9% year-on-year [3] - Qinhuangdao Port Co., Ltd. (03369.HK) reported a total throughput of 433 million tons for the year ending December 31, 2025, an increase of 4.48% year-on-year [4] - Lijun Pharmaceutical (01513.HK) announced that the injection of Laconchita monoclonal antibody has been included in the priority review and approval process [5] - Kinko Service (09666.HK) received acceptance from independent shareholders for 218.6 million shares without interests [6] - CICC (03908.HK) plans to issue no more than HKD 3 billion in perpetual subordinated bonds [7] - Agricultural Bank of China (01288.HK) saw Ping An Life increase its stake in its H-shares [8] - Aoyou Group (03383.HK) reported a total pre-sale amount of approximately RMB 8.57 billion as of December 31, 2025 [9] - CIMC Group (02039.HK) stated that the sale of property projects will reduce the group's net profit attributable to shareholders by approximately RMB 1.08 billion for 2025 [10] Stock Buybacks - Xiaomi Group-W (01810.HK) repurchased 3.9 million shares for HKD 149 million at prices between HKD 38.12 and HKD 38.2 [11] - Tencent Holdings (00700.HK) repurchased 1.023 million shares for HKD 636 million at prices between HKD 615.5 and HKD 628 [11] - Geely Automobile (00175.HK) repurchased 3.388 million shares for HKD 59.156 million at prices between HKD 17.38 and HKD 17.65 [12] Institutional Insights - Zheshang International noted that the fundamentals of the Hong Kong stock market remain weak, with a decline in the funding environment, while policy focus is on new productivity and expanding domestic demand [14] - Goldman Sachs maintains an "overweight" rating on Chinese A-shares and H-shares, citing attractive risk-reward ratios amid low profit growth and valuation levels [14] - FSMOne indicated that the valuation recovery of the Hang Seng Index has largely been achieved, with future performance dependent on corporate profit recovery [15] - Huatai Securities highlighted three investment opportunities under new industrialization: high-end manufacturing going global, strengthening domestic supply chains, and forward-looking investments in emerging industries [15]

Core Insights - The modernization of industry is identified as the most crucial foundation and core of a modern industrial system, with a focus on strengthening the real economy and promoting technological innovation and digital transformation across various regions [1] Group 1: Industrial Development and Innovation - The Ministry of Industry and Information Technology (MIIT) has been advancing new industrialization since the 14th Five-Year Plan, enhancing the overall strength, quality, efficiency, innovation, competitiveness, and risk resistance of the industry [1] - Significant achievements have been made in various sectors, including integrated circuits, biomedicine, and AI-driven manufacturing, with a focus on creating a modern industrial system centered around advanced manufacturing [2] - The number of specialized and innovative small and medium-sized enterprises has increased from less than 40,000 to over 140,000 during the 14th Five-Year Plan, while "little giant" enterprises have grown from over 5,000 to 17,600 [3] Group 2: Industrial Clusters and Ecosystems - Industrial clusters are essential for high-quality development and transformation of manufacturing enterprises, with efforts to create specialized parks and ecosystems to enhance resource allocation and innovation collaboration [4] - The Hunan Medical Device Industrial Park serves as a successful example of rapid growth in the medical device sector, achieving explosive growth in just four years by attracting various upstream and downstream enterprises [4] Group 3: Digital Transformation - Traditional industries such as steel and machinery are accelerating their digital transformation, with companies like Shandong Haihua Group leveraging AI to enhance operational efficiency and safety [7] - The MIIT is implementing a digital transformation action plan for the manufacturing sector, establishing 62 digital transformation promotion centers and over 230 exemplary smart factories [9] - The next steps include further advancing the construction of a modern industrial system centered on advanced manufacturing and promoting industrial upgrades [9]

中国工业互联网研究院党委书记田川表示，工业互联网与大模型、智能体等人工智能融合发展，将进一 步加快产业模式和企业组织形态变革，催生新产品、新服务、新应用。例如，以多模态大模型、工业智 能体为驱动的软硬件加速融入工业互联网体系，工业智能助手、智能边缘一体机、工业智能传感设备、 人形机器人等加速研制，交互、理解、决策能力实现突破。 华泰证券认为，新型工业化下关注三类投资机会：其一，中高端制造业出海，即优势产业高端化、品牌 化和全球化布局，核心指标是比较优势和市占率；其二，产业链补链强链，即新兴产业的进口替代，核 心指标是国产率；其三，新兴和未来产业的前瞻布局，即符合新型工业化主攻方向对应的数字化、智能 化要求，核心指标是渗透率。建议关注新型工业化下电子、机械、软件、汽车、服务器、医疗器械、化 工、稀土等领域的战术机遇。 相关概念股： 1月4日，苏州市召开新型工业化推进会议暨"AI+制造"创新发展大会。市委书记范波在会上作出多项部 署。他强调，要推动科技创新和产业创新深度融合，因地制宜发展新质生产力，持续深化"1030"产业体 系建设，加快构建以先进制造业为骨干的现代化产业体系。要抢抓人工智能时代机遇，发挥国家新一 ...

近日，工信息部印发《工业互联网和人工智能融合赋能行动方案》，旨在深化"人工智能+"在工业领域 的落地，推动工业互联网与人工智能深度融合，为发展新质生产力、推进新型工业化提供支撑。《行动 方案》提出，到2028年，我国工业互联网与人工智能融合赋能水平显著提升，推动不少于50000家企业 实施新型工业网络改造升级。 据悉，新型工业化强调以信息化带动工业化，以工业化促进信息化，追求科技含量高、经济效益好、资 源消耗低、环境污染少的发展模式。特定区域内的优势产业，比如无人机、船舶、汽车等，往往具备技 术先进、经济效益好等特征，是实现新型工业化的关键引擎。 开年以来，苏州市、无锡市、漳州市、商丘市等多地围绕新型工业化议题紧锣密鼓地部署新一轮工作。 在谋划新型工业化路线图的过程中，不同地方的侧重点有所不同，其中，优势产业、人工智能和场景建 设三个关键词广受关注。 1月4日，苏州市召开新型工业化推进会议暨"AI+制造"创新发展大会。市委书记范波在会上作出多项部 署。他强调，要推动科技创新和产业创新深度融合，因地制宜发展新质生产力，持续深化"1030"产业体 系建设，加快构建以先进制造业为骨干的现代化产业体系。要抢抓人工智能 ...

Core Insights - The Ministry of Industry and Information Technology has issued an action plan aimed at significantly enhancing the integration of industrial internet and artificial intelligence by 2028, targeting the transformation of at least 50,000 enterprises and the creation of high-quality data sets in 20 key industries [1][2] Group 1: Action Plan Objectives - The action plan focuses on deepening the application of artificial intelligence and industrial internet, promoting new industrialization, and supporting the construction of a manufacturing powerhouse and a network power [1] - Key initiatives include upgrading foundational infrastructure, ensuring data model interoperability, renewing application models, and fostering an integrated industrial ecosystem [1] Group 2: Specific Measures - The plan outlines measures such as accelerating the development of products like 5G programmable logic controllers, AI routers, and industrial computing network switches [1] - It emphasizes strengthening the supply of industrial intelligent computing power and promoting the integration of industrial internet with computing centers [1] - The plan also supports the transition of industrial internet solution providers to intelligent solution providers [1] Group 3: Supportive Policies - The action plan encourages local governments to enhance policy guidance and develop supporting measures tailored to local conditions [2] - It advocates for the establishment of special funds and the exploration of diversified funding mechanisms for key technology product development [2] - The plan includes optimizing academic and professional training for new roles such as industrial internet engineers and artificial intelligence trainers [2]

Core Viewpoint - The integration of artificial intelligence (AI) with the real economy is set to profoundly change the production models and economic forms in the manufacturing industry, as outlined in the "AI + Manufacturing" action plan issued by multiple government departments [1]. Group 1: Goals and Objectives - By 2027, China aims to achieve secure and reliable supply of key AI technologies, maintaining a leading position in industry scale and empowerment levels globally [1]. - The plan includes the deep application of 3 to 5 general large models in manufacturing, the creation of 100 high-quality industrial data sets, and the promotion of 500 typical application scenarios [1]. - The initiative seeks to cultivate 2 to 3 globally influential ecosystem-leading enterprises and a number of specialized small and medium-sized enterprises, while establishing 1,000 benchmark enterprises [1]. Group 2: Key Industries and Applications - Key industries targeted for AI empowerment in new industrialization include raw materials, equipment manufacturing, consumer goods, electronic information, software, and information technology services [2]. - The plan encourages leading enterprises and state-owned enterprises to explore new models and applications of AI in manufacturing, alongside implementing digital empowerment initiatives for small and medium-sized enterprises [2]. Group 3: Implementation Strategies - The action plan emphasizes strengthening AI computing power supply, promoting the development of intelligent chips, and supporting breakthroughs in key technologies such as high-end training chips and AI servers [2]. - It outlines the need for an integrated mechanism for data collaboration, model training, application development, and security assurance through the "model-number resonance" initiative [2]. - The plan also focuses on upgrading intelligent equipment and terminals, fostering new business forms like humanoid robots, and enhancing the integration of AI with industrial software [2]. Group 4: International Cooperation and Funding - The initiative promotes high-level international cooperation, encouraging the export of advantageous industries and participation in AI discussions within multilateral cooperation frameworks [3]. - It proposes the establishment of a collaborative work mechanism involving departments, central and local governments, and industry to guide enterprises in differentiated development and prevent internal competition [3]. - The plan aims to leverage existing funding channels to support AI-related technology research and application tasks, utilizing the national AI industry investment fund to attract more social capital [3].

《意见》提出，到2027年，我国人工智能关键核心技术实现安全可靠供给，产业规模和赋能水平稳居世 界前列。推动3至5个通用大模型在制造业深度应用，形成特色化、全覆盖的行业大模型，打造100个工 业领域高质量数据集，推广500个典型应用场景。培育2至3家具有全球影响力的生态主导型企业和一批 专精特新中小企业，打造一批"懂智能、熟行业"的赋能应用服务商，选树1000家标杆企业。建成全球领 先的开源开放生态，安全治理能力全面提升，为人工智能发展贡献中国方案。 人工智能加速与实体经济融合，将深刻改变制造业生产模式和经济形态。1月7日，工信部等八部门联合 印发《"人工智能+制造"专项行动实施意见》(以下简称《意见》)。此次专项行动旨在贯彻落实《国务 院关于深入实施"人工智能+"行动的意见》，加快推进人工智能技术在制造业融合应用，打造新质生产 力，全方位、深层次、高水平赋能新型工业化。 在产品突破与主体培育方面，《意见》明确推动智能装备迭代和智能终端升级，将加快人工智能与工业 母机、工业机器人、智能网联汽车等融合，培育人形机器人等新业态；打造软件和智能体新业态，推动 人工智能与工业软件深度融合，构建智能体分类分级管理体系。 ...

Group 1: Artificial Intelligence and Manufacturing - The Ministry of Industry and Information Technology and seven other departments issued the "Implementation Opinions on the Special Action of 'Artificial Intelligence + Manufacturing'" aiming for key AI technologies to achieve reliable supply by 2027, with the industry scale and empowerment level remaining at the forefront globally [1] - The plan includes promoting the development of intelligent chips, supporting breakthroughs in high-end training chips, edge inference chips, AI servers, high-speed interconnects, and intelligent cloud operating systems [1] - It emphasizes the innovation of model training and inference methods, developing high-performance algorithm models suitable for the real-time, reliability, and safety characteristics of the manufacturing industry [1] Group 2: Central Bank and Gold Reserves - The People's Bank of China has increased its gold reserves for the 14th consecutive month, holding 74.15 million ounces as of December 2025, an increase of 30,000 ounces from the previous month [3] - Analysts suggest that the continuous increase in gold reserves is driven by changes in the global political and economic landscape, indicating a rising necessity to optimize international reserve structures [3] Group 3: Monetary Policy - The People's Bank of China announced a buyout reverse repurchase operation of 1.1 trillion yuan, set to take place on January 8, 2026, with a term of three months [4] - Experts predict that the central bank may conduct another six-month buyout reverse repurchase operation this month, indicating a potential continuous injection of medium-term liquidity into the market for the eighth consecutive month [4] Group 4: Investment in Agricultural Bank - Ping An Life announced an increase in its stake in Agricultural Bank of China H-shares to 20% as of December 30, 2025, triggering disclosure requirements under Hong Kong market rules [5] Group 5: Automotive Industry - Xiaomi plans to launch four new car models next year, including two range-extended SUVs, with the first models expected to be released in the first half of the year [7] Group 6: Trade Investigations - The Ministry of Commerce has initiated an anti-dumping investigation into imported dichlorodihydrosilane from Japan, responding to domestic industry applications [8] Group 7: Battery Industry Regulation - A meeting was held by multiple departments to discuss the regulation of the power and energy storage battery industry, focusing on controlling production capacity, managing price wars, and protecting patents [9] Group 8: Market Opportunities - The Ministry of Industry and Information Technology has issued an action plan to enhance the integration of industrial internet and artificial intelligence, aiming to support the upgrade of at least 50,000 enterprises by 2028 [11] - The market is currently focused on AI hardware sectors such as optical modules and PCBs, with a recommendation for investments in AI application companies showing marginal improvements in their third-quarter performance [11]