Core Insights - The 10th Huawei Connect Conference 2025 was held in Shanghai, focusing on "Elevating Industry Intelligence" and showcasing Huawei's new generation of digital infrastructure, development tools, and industry solutions [1] - Poisson Software, a key partner in the industrial software sector, presented its high-end manufacturing solutions in collaboration with Huawei Cloud, highlighting its R&D capabilities and achievements [3] Group 1: Event Highlights - The conference featured a high-end roundtable forum on "AI in R&D Design Industrial Software," attracting industry leaders and experts to discuss the integration of AI and industrial software [4] - Poisson Software's PLM product line president introduced the new IntePLM product lifecycle management system based on Huawei Cloud iDME, aimed at standardizing R&D data processes across various industries [6] Group 2: Product and Solutions - Poisson Software's exhibition showcased its integrated high-end manufacturing solutions across 12 major industries, addressing pain points in industrial software through interactive displays and expert discussions [8] - The exhibition attracted significant attention from industry leaders and participants, facilitating discussions on core needs in simulation within the industrial software sector [10] Group 3: Future Directions - Poisson Software aims to continue its collaboration with Huawei Cloud to accelerate the arrival of a new industrial cognitive revolution through more open architectures and intelligent engines [10]

Group 1 - The global military expenditure is entering an upward cycle due to intensified geopolitical conflicts, which is expected to drive the military trade market expansion and lead to a revaluation of the sector [10] - The 2025 World Robot Conference will be held from August 8 to 12 in Beijing, showcasing over 1,500 exhibits from more than 200 domestic and international robot companies, with nearly double the number of new products launched compared to last year [12] - The humanoid robot market in China is projected to reach nearly 38 billion yuan by 2030, with significant investments from international groups like LG Electronics in companies like Zhiyuan Robotics [13] Group 2 - The AI+ industrial software segment in China is expected to grow at a compound annual growth rate of 41.4% from 2024 to 2028, significantly outpacing the 19.3% growth rate of core industrial software during the same period [26] - The introduction of solid-state batteries in electric vehicles is highlighted by SAIC's confirmation that the new MG4 will be the world's first mass-produced electric vehicle equipped with semi-solid-state batteries [28] - The global mobile and PC gaming market is anticipated to exceed $120 billion by 2028, indicating a recovery in growth momentum [30]

Core Insights - Yushu Technology has initiated the listing guidance process, aiming to become the first publicly listed company in the field of embodied intelligence, with a market share of over 69% in the quadruped robot segment [1] - The company's valuation has surpassed 10 billion yuan, attracting strategic investments from key players in the industry, including Hexagon Software Technology and Zhongji Xuchuang [1][3] Group 1: Company Overview - Yushu Technology is recognized as a leading player in the quadruped robot market, with significant sales volume and a focus on embodied intelligence [1] - The company has a diverse shareholder structure with 39 shareholders, where the founder Wang Xingxing holds a combined 34.76% stake [1] Group 2: Strategic Partnerships - Hexagon Software Technology holds a 1.5287% direct stake in Yushu Technology and has expressed intentions to integrate its sensor technology into Yushu's robotic applications [2] - Initial investments from Hexagon during Yushu's B-round financing highlight the strategic partnership aimed at enhancing innovation in robotics [2] Group 3: Indirect Investments - Zhongji Xuchuang has indirect exposure to Yushu Technology through its investments in funds that hold shares in Yushu, totaling approximately 0.04679% [3] - Zhongji Xuchuang is a leading manufacturer in the optical module sector, with a focus on high-end optical communication products, indicating a strategic interest in the robotics and AI sectors [3] Group 4: Financial Performance - Zhongji Xuchuang reported a significant revenue increase, achieving 23.862 billion yuan in 2024, a 122.64% year-on-year growth, and a net profit of 5.171 billion yuan, up 137.93% [4] - The company anticipates continued growth in the first half of the year, projecting a net profit between 3.6 billion to 4.4 billion yuan, reflecting a year-on-year increase of 52.64% to 86.57% [4]

Group 1: Market Overview - The domestic market indices showed positive performance with the Shanghai Composite Index closing at 3510, up by 0.48% on the day and 1.40% for the week [1] - The overseas markets also experienced mixed results, with the Dow Jones Index closing at 44458, up by 0.49% on the day and 2.30% for the week [2] Group 2: Key Recommendations - The report from Ping An Securities highlights the ongoing "anti-involution" market phase, indicating that the current market is still in the expectation catalysis stage, with significant gains observed in sectors like photovoltaic, steel, and cement, averaging 3%-8% during the period from July 2-7 [3][10] - The report suggests focusing on industries with lower capacity utilization and higher profit pressure, particularly in the photovoltaic sector, construction materials, and certain light industry sectors [10] Group 3: Fund Performance - As of the end of June 2025, the total number of fund advisory combinations on the Tian Tian Fund APP reached 446, an increase of 5 from the previous month, indicating a growing interest in fund management [4][11] - The performance of various fund types showed that military, smart manufacturing, healthcare, consumer, and dividend strategies outperformed their benchmarks, while new energy, technology, and gold strategies lagged [12] Group 4: Industry Insights - The report emphasizes the importance of government policies in addressing "involution" competition, with recent meetings highlighting the need for industry self-regulation and quality improvement [7][8] - Historical comparisons indicate that the current "anti-involution" measures differ from previous supply-side reforms, focusing more on market-driven approaches rather than administrative measures [8][9] Group 5: New Stock Overview - Upcoming IPOs include Shanda Electric Power with an issue price of 14.66 and a subscription limit of 1 million shares, and Jiyuan Group with an issue price of 10.88 and a subscription limit of 1.2 million shares [15]

Group 1 - The China Securities Industrial Internet Theme Index (931495) decreased by 0.91% as of June 19, 2025, with mixed performance among constituent stocks [1] - Notable gainers included Northern Huachuang (002371) up 1.84%, China Software (600536) up 1.22%, and Qiming Star (002439) up 1.00%, while Newland (000997) led the decline [1] - In May, the national industrial added value for large-scale enterprises grew by 5.8% year-on-year, with the equipment manufacturing sector seeing a 9% increase, contributing 54.3% to industrial production [1] Group 2 - The trend indicates that foreign industrial software giants are acquiring AI companies, significantly enhancing the intelligence level of domestic industrial software products [2] - The national government is accelerating the deployment of AI + industrial software initiatives, supporting pilot development of AI + CAE and AI + EDC products [2] - As of May 30, 2025, the top ten weighted stocks in the China Securities Industrial Internet Theme Index accounted for 47.11% of the index, including BYD (002594) and Northern Huachuang (002371) [2]

Core Viewpoint - The "Yujia Mountain Initiative" launched by alumni of Huazhong University of Science and Technology aims to address the challenges faced by China's industrial software sector, particularly in the context of AI integration and the need for self-sufficiency in key technologies [1][4]. Group 1: Industrial Software Market Overview - In 2023, China's industrial software market reached approximately 241.4 billion RMB, reflecting a year-on-year growth of 12.3% [4]. - The software business revenue in Wuhan exceeded 350 billion RMB, growing by 16.7%, with industrial software revenue increasing by 51.7% [4]. - The number of newly registered software companies surpassed 43,000, marking a 56.8% increase [4]. Group 2: Challenges and Gaps - China's industrial software market only accounts for 6.7% of the global market share, indicating a significant gap compared to international standards [4]. - Domestic industrial software lacks core technologies and has a strong dependency on foreign solutions for CAD, CAE, and CAM software [5]. - There is a deficiency in standards and specifications for software development, which affects the scalability and configurability of domestic products [5]. Group 3: AI Integration and Future Trends - The integration of AI into industrial software is seen as a key trend, with government support for pilot projects in AI-enhanced industrial software [5][6]. - The application of industrial software is shifting towards cloud and device-based models, moving from internal enterprise deployment to external solutions [6]. - The automotive industry exemplifies this trend, with 70% of innovations stemming from automotive electronics, and 60% of those innovations being software-related [6]. Group 4: Collaborative Efforts and Initiatives - The "Yujia Mountain Initiative" aims to unite resources and intelligence from alumni to tackle the "bottleneck" challenges in industrial software [6]. - The initiative seeks to create a conducive environment for technological innovation, supported by the Ministry of Industry and Information Technology and local governments [6].

Group 1 - The event "Mergers and Acquisitions, Moving Towards New Directions" was successfully held in Beijing, focusing on the opportunities and practical frontiers of current M&A policies [1] - The China Securities Regulatory Commission has revised the "Management Measures for Major Asset Restructuring of Listed Companies," introducing several new initiatives to support companies in expanding and strengthening through mergers and acquisitions [1] - The event attracted numerous industry experts and representatives from listed companies to discuss new trends in M&A and explore the vast potential of the capital market [1] Group 2 - Kang Pan, Executive General Manager of the M&A Group at China International Capital Corporation, shared insights on the recent M&A market situation and opportunities, predicting an increase in industrial M&A activity and the injection of quality assets into traditional listed companies [1] - Two national-level specialized "little giant" enterprises presented their technological breakthroughs and development in their respective fields, highlighting their contributions to the industry [2] - Participants expressed a deeper understanding of M&A policies and identified potential collaboration opportunities through discussions during the event [2]