野村发报告指，小鹏汽车(XPEV.N)于1月8日举行年度首场新产品发布会，推出四款新车及改款车型， 并同步上线限时促销活动。会上，集团重申2026年深耕实体AI领域的业务战略，重点发布四款车型， 包括全新P7+（涵盖增程式电动车及纯电动车版本）、全新G7（以增程式电动车版本为主），以及 G6/G92026款纯电动车。暂维持集团美股目标价30美元及"买入"评级。 本文源自：金融界AI电报 ...

本文是由投资/产品专员而非分析师撰写的文章汇编。 它不构成研究报告，也不应被解释为研究报告，也不旨在提供 专业、投资或任何其他类型的建议或推荐。 CSIWM 个股点评 2026 年 1 月 8 日 安川电机 本文内容由 Kylie Kwok (郭凯欣) 提供 6506 JP 中信证券财富管理(香港) 产品及投资方案部 日本科技行业 电话：(852) 2237 9250 / 电邮：wminvestmentsolutions@citics.com.hk 拉开序幕 摘要 中信证券财富管理与中信里昂研究观点一致。根据中信里昂研究在 2026 年 1 月 5 日发布的题为《Let's get it started》的报告，中信里昂预计安川电机将以乐观的叙事基调拉开财报季序幕。分析指出，公司在实体 AI 领域的定 位给出积极解读，并表示市场一致预期似乎过于保守，可能未充分反映当前汇率环境。 安川电机预计将于 2026 年 1 月 9 日（周五）收市后发布 2026 财年三季度业绩并举行业绩说明会。分析指出，公司 的运动控制与机器人业务的环比增长将弥补系统工程业务的疲软。 随着三季度财报的发布，分析预计公司管理层将再次上调 ...

（原标题：KOTRA发布全球战略 供应链、AI与韩流消费成2026年三大增长关键） 据韩国《Dailian》17日报道，大韩贸易投资振兴公社（KOTRA）日前在首尔举办全球市场战略说明会，为韩国企业指明未来核心发展方向。 面对全球贸易保护主义抬头与经济安全议题升温的复杂环境，KOTRA认为应聚焦三大趋势：一是以"友岸外包"为核心的全球供应链重组。部 分国家正积极推动半导体、电池等关键产业供应链向本土及友好国家转移，为韩国企业提供深度融入国际核心产业链的战略机遇。二是从软件迈 向"实体AI"的技术竞争。全球人工智能投资重点正转向人形机器人、自动驾驶等与物理世界交互的"实体AI"。三是韩流驱动的K-消费品全球扩 张。韩流已进化为全球共享的"K-生活方式"，直接带动化妆品、食品、医药品等消费品的出口增长，多品类年出口额已突破百亿美元，成为稳定 的出口增长支柱。 KOTRA强调，企业需主动适应供应链重构趋势，同时把握以"全球南方"为代表的新兴市场以及AI、消费品两大增长领域，构建多元化竞争 力。 ...

中证报中证网讯（记者 王鹤静）展望2026年的AI产业趋势，朱雀基金公募投资部投资副总监、基金经 理陈飞日前发表观点称，AI依旧是资本密集、人才密集、数据密集型的实业，能否形成应用、数据与 模型之间的飞轮效应，是每家AI企业成功的关键。AI将催生更多人机交互范式的创新，进而带动产品 与应用侧的全面革新，AI正大幅提升决策与执行的能力值。随着多模态模型的迭代，AI从最初偏被动 的文本、图片交互，逐步升级为能够识别人类所处的真实世界。AI感知与改变真实世界的能力正在大 幅提升。 基于以上产业趋势，陈飞重点关注以下三大方向： 第一个重点关注的方向是国内科技大厂。陈飞认为，当前AI领域的竞争已不再是单点竞争，而是系统 性竞争，可以概括为科技大厂的"极致协同设计能力"。具体而言，这些AI企业能够对底层芯片、系统、 软件以及上层模型与应用进行同步优化，通过打通产业链上下游，实现性能的巨大飞跃与成本的大幅降 低。海外企业之所以能厚积薄发，核心得益于其一体化打通的AI全栈能力。国内头部部分科技大厂， 同样具备覆盖全产业链上下游的强大AI全栈能力。 第三个重点方向是实体AI，典型的代表是机器人等新型硬件载体的创新。陈飞表示，当 ...

Core Viewpoint - SoftBank Group has reached a final agreement to acquire ABB's robotics business for $5.375 billion (approximately 38.45 billion RMB), marking a significant move in the global industrial automation and robotics sector [2][4]. Group 1: Acquisition Details - The acquisition has received approval from SoftBank's board but is pending regulatory approvals from the EU, China, and the US, with completion expected in mid to late next year [4]. - ABB's robotics business, part of the "big four" in industrial robotics, has over 50 years of technological experience and a global customer base, with projected revenues of $2.3 billion in 2024 and approximately 7,000 employees [4]. Group 2: Strategic Intent - This acquisition is part of SoftBank's broader strategy to achieve "Super Artificial Intelligence (ASI)" by 2035, integrating a comprehensive layout of "computing power base - hardware carrier - scenario landing - ecological collaboration" [2][14]. - SoftBank's ambition in robotics dates back over a decade, starting with the acquisition of French company Aldebaran for about $100 million in 2014, leading to the development of the humanoid robot Pepper [8]. Group 3: Integration and Future Plans - Post-acquisition, SoftBank plans to integrate ABB's advanced technologies with its existing robotics ecosystem, enhancing capabilities in key sectors such as automotive manufacturing, electronics assembly, and logistics warehousing [15]. - A dedicated technology integration team will focus on several initiatives, including connecting ABB's robot control software with SoftBank's AI platform for Pepper and integrating AutoStore's automation systems with ABB's industrial robots [15][17]. - The integration aims to significantly improve production efficiency, reduce automation deployment costs for manufacturing clients, and accelerate the global implementation of Industry 4.0 [16]. Group 4: Shift in Robotics Strategy - This acquisition signifies a fundamental shift in SoftBank's robotics strategy, moving from a focus on humanoid robots to solidifying its foundation in industrial robotics, transitioning from showcasing technology to practical industrial applications [17].

Core Viewpoint - SoftBank's stock price surged by 13% following the announcement of its plan to acquire ABB Group's robotics business for approximately $5.4 billion, boosting market expectations for profit growth in its artificial intelligence sector [1][1][1] Company Summary - SoftBank has agreed to acquire the industrial robotics division of Swiss industrial group ABB for about $5.4 billion, which has led to a significant increase in its stock price, marking the largest gain since August 8 [1][1][1] - The acquisition is expected to enhance investor optimism regarding SoftBank's investments in robotics and its profit opportunities in the industrial AI sector [1][1][1] Industry Summary - The acquisition is likely to elevate market expectations for growth in Japan's entire industrial robotics industry, benefiting domestic manufacturers such as Yaskawa Electric [1][1][1] - The move into the "physical AI" sector is seen as a step towards what is being referred to as the next industrial revolution [1][1][1]

Group 1 - Nvidia and Samsung are investing in AI robotics startup Skild AI to strengthen their presence in the emerging consumer robotics industry [1][2] - Nvidia is investing $25 million (approximately 180 million RMB) while Samsung is investing $10 million [1] - This investment is part of Skild's Series B funding round, which is led by SoftBank Group with an investment of $100 million, valuing the company at approximately $4.5 billion [1] Group 2 - The robotics sector is becoming a significant area for growth among global tech companies, with major players like Apple, Meta, Amazon, and Google making substantial investments [1] - Nvidia is promoting the concept of "physical AI," which refers to AI systems capable of operating in the physical world, such as robots and autonomous vehicles [1] - Samsung's investment in Skild allows the company to stay informed about the startup and its talent without making a major investment commitment [2]

Investment Rating - Industry Rating: Outperform the Market (Maintain Rating) [4] Core Insights - The 2025 COMPUTEX will focus on "AI Next," showcasing the latest advancements in artificial intelligence and its applications across various sectors, including AI & Robotics, Next-Gen Tech, and Future Mobility [2][10] - The report highlights the rapid growth of the global large language model (LLM) market for robots, with a projected compound annual growth rate (CAGR) of 48.2% from 2025 to 2028, potentially exceeding $100 billion by 2028 [3][22] - The AR/MR market is expected to see significant growth, with VR/MR shipments projected to reach 40.1 million units by 2030, reflecting a CAGR of approximately 33% [3][28] - The report emphasizes the importance of the Internet of Vehicles (IoV) in creating smart transportation ecosystems, although challenges such as high infrastructure costs and the need for cross-industry collaboration remain [4][38] Summary by Sections 1. Transition from Connecting AI to AI Next - The 2025 COMPUTEX will gather around 1,400 leading tech companies to showcase innovations in AI and robotics, next-gen technologies, and future mobility [2][10] 2. Focus Areas of AI Next 2.1. Physical AI and Robotics - The integration of AI and robotics is becoming a global focus, with a shift towards commercial and household applications, indicating accelerated product deployment [3][22] 2.2. Next-Gen Technology - The VR/MR market is expected to recover and grow, with significant improvements in hardware technology leading to increased user immersion and lower costs [3][28] 2.3. Future Mobility - The IoV is central to developing smart traffic ecosystems, with technologies enabling vehicle-to-vehicle, vehicle-to-infrastructure, and vehicle-to-pedestrian communication [4][38] 3. COMPUTEX Keynote Focus - Major companies like NVIDIA, Foxconn, Qualcomm, Arm, and NXP will present their visions for AI development and its impact on various industries [4][43][44][45][46] 4. Suggested Focus Areas - The report suggests monitoring companies involved in SoC solutions, ASICs, semiconductor storage, and various electronic components, highlighting potential investment opportunities in these sectors [4][47]