今日早盘，A股市场窄幅震荡，昨日领涨的煤炭板块出现调整，机器人等科技题材则局部复苏，带动创 业板指相对强势。截至午间休市，上证指数报3879.52点，涨0.04%；深证成指、创业板指分别上涨 0.35%和0.76%。 人形机器人概念早盘掀涨停潮，海昌新材、固高科技、华伍股份收获20%幅度涨停。有色金属板块持续 升温，铜、铝个股早盘强势，洛阳钼业刷新历史新高，西部矿业、江西铜业等跟涨。上期所沪铜期货主 力合约早盘涨超2%，盘中触及91400元/吨创历史新高；沪铝主力合约涨超1%，创2022年3月以来新高。 机器人概念爆发 贝恩公司近日发布的《未来已来，智驱新程——全球人形机器人产业趋势洞察》报告预计，到2035年， 全球人形机器人年销量有望达到600万台，市场规模突破1200亿美元；在乐观场景下，销量甚至或超过 1000万台，市场规模达到2600亿美元。 多股"20cm"涨停 早盘，机器人概念掀涨停潮。截至午盘，海昌新材、固高科技、华伍股份收获20%幅度涨停，恒而达、 德马科技、江苏雷利等涨超10%，四川金顶、骏亚科技等同样涨停。 港股机器人概念股也多数走强。截至午盘，三花智控涨超9%、极智嘉-W涨超5%、越疆 ...

Group 1 - The unexpected decline of 32,000 jobs in the US ADP employment data for November marks the largest drop since March 2023, leading to a surge in expectations for a Federal Reserve interest rate cut [2] - Following the employment data release, stock index futures rose sharply, while US Treasury yields fell across the board, and the US dollar index dropped below its 50-day moving average, reaching a one-month low [2] - The Russell 2000 index experienced a significant rebound, closing up 1.91%, marking its largest single-day gain in two months, while the S&P 500 regional bank ETF rose by 2.08% [2] Group 2 - The technology sector showed mixed results, with Microsoft shares down 2.5%, resulting in a market cap loss of approximately $75 billion, while Tesla shares surged 4% due to reports of potential support for the robotics industry [3] - The Philadelphia Semiconductor Index rose by 1.83%, with notable gains in TSMC ADR and AMD, indicating a recovery in chip stocks [3] - Commodity markets also reacted positively, with copper prices hitting a new historical high, and gold and silver prices rising, reflecting increased risk appetite [3] Group 3 - The bond market fully priced in a December interest rate cut, with the 10-year Treasury yield falling to 4.06% and the 2-year yield to 3.49%, indicating a steepening yield curve [4] - The US dollar index decreased by 0.51%, leading to a strengthening of non-US currencies, with the offshore yuan appreciating for the third consecutive day [4] - European markets showed mixed performance, with the STOXX600 index slightly up, while major indices like DAX30 and CAC40 experienced minor fluctuations, reflecting a narrow trading range [4]

在投资端，首程控股通过旗下管理的基金进行了系统布局。其参与管理的北京机器人产业发展投资基金 已投资了包括宇树科技、银河通用、术锐机器人等在内的20余家行业领先企业。这种覆盖本体、零部件 及创新应用的组合式投资，使首程控股能够深度嵌入产业创新网络，提前锁定未来行业放量时的增长红 利。 然而，资本赋能仅是第一步。机器人产业，尤其是前沿的具身智能领域，面临的最大挑战往往是如何从 实验室走向真实的商业场景。 首程控股的独特价值与核心竞争力，在其应用端的实践中得到了充分体现。这一实践清晰分为ToB与 ToC两大路径，直指产业化的核心痛点。 据媒体报道，美国商务部长正积极与行业领袖会面，政府考虑在明年发布关于机器人技术的专项行政命 令，交通部也计划成立相应的工作组。 这意味着机器人产业正从早期的技术探索阶段，迈入一个由"政策扶持"与"商业落地"双轮驱动的新加速 周期。在这一全球性的产业趋势浪潮下，一些早已进行前瞻性生态布局的企业价值开始凸显，首程控股 正是其中值得关注的代表之一。 具体来看，公司并未选择成为单一的机器人制造商，而是致力于打造一个"资本+场景+产业链"的一体 化服务平台。这一战略通过"投资"与"运营"双引擎 ...

Group 1 - The core viewpoint of the article highlights the resilience of the robotics industry, supported by strong export performance and favorable domestic conditions [1] - From 2025 onwards, the mechanical and automation equipment industry is expected to show good export performance, particularly in intermediate and capital goods, with a contribution of 0.75 percentage points to China's export growth from machinery and transport equipment [1] - The export growth rate for the machinery equipment industry is anticipated to remain resilient, despite a slight slowdown in global export expansion, with China's export share expected to continue its upward trend [1] Group 2 - The robotics industry ETF (159551) tracks the robotics index (H30590), which focuses on companies involved in the research, manufacturing, and application of robotics, covering the entire industry chain from core components to system integration [1] - Positive signals are emerging in the domestic capacity cycle, with improved cash flow for enterprises and ongoing policy support, laying a foundation for manufacturing investment [1] - Equipment renewal policies are expected to continue supporting industry demand, contributing to the overall growth of the robotics sector [1]

Core Viewpoint - The robot concept stocks have seen significant gains, driven by the U.S. government's push to accelerate the development of the robotics industry [1] Group 1: Stock Performance - Dechang Motor Holdings (00179) increased by 6.47%, trading at 30.62 HKD [1] - Sanhua Intelligent Control (002050) rose by 6.16%, trading at 34.46 HKD [1] - UBTECH (09880) saw a 3.39% increase, trading at 113 HKD [1] - Yuejiang (02432) grew by 3.29%, trading at 40.2 HKD [1] Group 2: Government Initiatives - The Trump administration is actively promoting the development of the robotics industry, with Commerce Secretary Howard Lutnick meeting with CEOs in the sector [1] - The government is considering issuing an executive order on robotics next year [1] - The U.S. Department of Transportation is preparing to announce a robotics working group, potentially to be established by the end of the year [1] Group 3: Market Outlook - Citigroup's latest report predicts that global humanoid robot production will enter an exponential growth phase by 2026, expected to at least double compared to 2025 [1] - The growth path for various segments of the industry is clear, with high-value core components and rigid demand in the upstream [1] - Orders and mass production progress for complete machine enterprises are accelerating, indicating a transition from technology validation to large-scale production, presenting high long-term investment value [1]

智通财经APP获悉，机器人概念股涨幅居前，截至发稿，德昌电机控股(00179)涨6.47%，报30.62港元； 三花智控(02050)涨6.16%，报34.46港元；优必选(09880)涨3.39%，报113港元；越疆(02432)涨3.29%，报 40.2港元。 消息面上，据报道，特朗普政府力推机器人产业发展。据三位知情且匿名透露细节的人士透露，美国商 务部长霍华德·卢特尼克一直在与机器人行业的CEO会面，并全力以赴加速行业发展。据两位知情人士 透露，政府正在考虑明年发布关于机器人的行政命令。据一位熟悉规划的人士透露，美国交通部也正准 备宣布机器人工作组，可能在年底前成立。该部门发言人未回应置评请求。 花旗最新研报表示，2026年全球人形机器人产量将进入指数级增长阶段，预计至少较2025年翻倍。产业 链各环节增长路径明确，上游核心部件单机价值量高、需求刚性，整机企业订单与量产进度加速，行业 正从技术验证迈向规模量产，具备高确定性的长期投资价值。 ...

美东时间3日周三，媒体报道称，美国商务部长卢特尼克近期频繁会见机器人行业的CEO，在"全力支 持"（all in）该行业加快发展，还称特朗普政府正考虑明年发布一项关于机器人的行政命令。此消息意 味着，继人工智能（AI）之后，机器人产业正成为美国与全球其他大经济体竞争的下一个主要战场。 受此影响，美股iRobot收盘大涨近74%，特斯拉涨近4.1%，Richtech Robotics （RR）涨18.5%，Serve Robotics（SERV）涨18.2%，WeRide（WRD）涨5.2%，Teradyne（TER）涨2.7%。 据国际机器人联合会估计，截至2023年，中国工厂内拥有180万台工业机器人，是美国的四倍。中国、 日本、澳大利亚、德国和新加坡均制定了国家机器人计划。 招商证券表示，特斯拉OptimusGen3预期明年一季度发布，方案将陆续锁定，12月T（特斯拉）有望开 始向供应商下单，并给出明年供货指引。 无框力矩电机：信质集团、信捷电气、伟创电气 丝杠：恒立液压、嵘泰股份、五洲新春、北特科技 结构件：永茂泰、旭升集团 轻量化：肇民科技、恒勃股份 灵巧手：鸣志电器、德昌电机控股、浙江荣泰 充电模组 ...

1、美国11月ADP就业人数意外减少3.2万人，远低于预期的增加15万人，显示劳动力市场走弱，进一步 强化市场对美联储降息的预期。 2、特朗普称美特使Witkoff与普京的会晤"相当不错"，白宫官员表示美 俄举行了一次"深入且富有成效的会谈"，双方就乌克兰问题等交换意见。 3、美国财长贝森特提议新 规，要求区域联储主席在任命前需在辖区内居住至少三年，旨在阻止"纽约派"主导货币政策，引发市场 对美联储治理 结构调整的关注。 4、Meta出手挖角苹果设计高管Alan Dye及其副手，后者曾主导 iPhone、Apple Watch等核心产品设计，硅谷科技巨头人才竞争加剧。 5、美光科技宣布因 AI芯片需求 激增，停止向消费者销售存储产品，全面转向AI时代先进 存储芯片研发，专注于 数据中心等高毛利市 场。 6、OpenAI将收购AI模型训练工具初创公司Neptune，后者为大语言模型训练提供底层支持，交易 细节未披露，此举旨在强化AI基础设施能力。 7、波罗的海干散货指数（BDI）涨9.42%，创近两年来 新高，主要受海岬型船运价飙升推动，过去一个月累计上涨46%，反映全球 大宗商品运输需求回暖。 8、AI融资市 ...

Core Viewpoint - The rise of the robotics industry is attracting significant investment from industrial capital, particularly in the automotive parts sector, with companies like Jinfei Kaida exploring opportunities in the robotics supply chain [1][2]. Group 1: Company Developments - Jinfei Kaida has expressed its long-term vision to advance in the robotics sector while maintaining its core business, planning to integrate R&D teams through its subsidiary, Zhilaong Technology [1][3]. - The establishment of Zhilaong Technology, a wholly-owned subsidiary of Jinfei Kaida, marks the company's official entry into the robotics industry, focusing on areas such as industrial robot manufacturing and sales [2]. - Jinfei Kaida has transferred four patents related to robotics to Zhilaong Technology, which will facilitate the company's strategic positioning in the emerging robotics market [2][3]. Group 2: Industry Context - The automotive parts industry is increasingly intersecting with the robotics sector, as evidenced by Jinfei Kaida's initiatives to explore this synergy despite its primary focus on aluminum alloy wheels [1]. - The parent company, Jinfei Holding Group, has been involved in the robotics field since at least 2017, indicating a long-term strategic interest in this area [3]. - Jinfei Kaida's collaboration with leading two-wheeler manufacturers and the development of magnesium-aluminum alloy wheels are part of its broader strategy to enhance its product offerings and ensure sustainable growth [3].

今日截至13点46分，机器人ETF（562500）下跌0.74%，盘中呈现震荡整固态势，当前价格处于日内相 对低位。持仓股方面虽整体跌多涨少，但扫地机器人展现出极强的韧性，科沃斯强势领涨5.11%，石头 科技大涨4.64%，华东数控、天准科技等个股逆势飘红。流动性方面，盘中成交额已达4.56亿元，维持 高位量能释放。值得注意的是，机器人ETF昨日已获资金净流入超1.8亿元。 开源证券表示，国产人形机器人发展具备完整的供应链体系，同时过去1-2年，国内企业积累了大量融 资，若相关支持政策落地，储备资金将加速投入实际应用；叠加宇树、智元等头部企业引领的资本化浪 潮持续推进，产业有望进入加速发展阶段。 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）。 消息方面，领益智造今日披露，已完成超5000 台人形（具身）机器人硬件/整机组装服务，涵盖整机/灵 巧手组装，关节模组，头、腰、脑、臂 ...