在政策加持、技术迭代等利好因素共振下，人形机器人产业发展迅速，尤其是 2025 年更是被看作 人形机器人量产元年。今年以来，机器人重要概念指数大涨，以中证机器人指数为例，今年已取得了 41.80% 涨幅，高于同期大盘宽基指数的表现。 （数据来源： wind ，统计区间： 2025.1.1-2025.9.24 ） 庞大的增长潜力不仅吸引了资金争相涌入，也吸引了众多机构布局。中银基金顺应市场，抓住机遇， 旗下的产品 中银中证机器人指数基金 （ A 类： 025553 C 类： 025552 ）重磅发行，旨在为投资 者解锁机器人产业投资、一键布局机器人赛道提供高效便捷的工具，共享科技发展带来的星辰大海。 在 AI 技术深度赋能的当下， "AI+ 机器人 " 作为新质生产力的前沿赛道，正展现出政策支持、科技 革新和全球巨头竞相布局的三重共振效应，在产业起步阶段积蓄磅礴的发展势能。 政策层面， 2023 年 11 月工信部印发《人形机器人创新发展指导意见》，在顶层设计勾勒出从技术 研发到场景落地的清晰蓝图，为行业锚定了战略方向。科技革新方面，多模态大语言模型的成熟应用 标志着人形机器人 " 智能大脑 " 实现关键跃迁， ...

Group 1 - The humanoid robot industry is experiencing rapid growth, with 2025 being viewed as the year of mass production, supported by favorable policies and technological advancements [1][2] - The China Securities Robot Index has increased by 41.80% this year, outperforming the broader market index [1] - The launch of the Bank of China’s index fund aims to provide investors with efficient tools to invest in the robot industry [1][2] Group 2 - The Ministry of Industry and Information Technology issued the "Guiding Opinions on the Innovative Development of Humanoid Robots," outlining a clear blueprint for the industry [2] - The maturity of multimodal large language models has significantly enhanced the decision-making capabilities of humanoid robots [2] - Major global industry players have entered the humanoid robot sector since 2022, driving substantial progress and restructuring the global supply chain [2] Group 3 - As of September 25, 2025, the China Securities Robot Index consists of 73 constituent stocks, with an average free float market capitalization of 13.25 billion [3] - The constituent stocks are primarily concentrated in the industrial and information technology sectors, reflecting the "hard technology" characteristics of the robot industry [3] - The index has shown high elasticity, achieving a return of 106.90% since its base date of December 31, 2010 [3] Group 4 - The index fund closely tracks the China Securities Robot Index, which includes securities from system solution providers, digital workshops, automation equipment manufacturers, and other robot-related companies [2][3] - The index is constructed by selecting the top 100 securities based on average daily market capitalization over the past year, ensuring liquidity and highlighting the robot theme [2]

智通财经APP讯，天机控股(01520)公布，于2025年9月26日，公司与沙乌地阿拉伯王国(沙特)工业和矿 产部(沙特工业和矿产部)签订了战略合作意向书，据此，双方就沙特工业智慧化升级领域达成深度合 作，制定工业数位化转型的培训和宣传计划，针对沙特在先进技术及工业创新领域相关的产业挑战提出 解决方案，加强工业生产效率、产品品质和竞争力以及工业城市基础设施方面的合作，发展工业供应 链，吸引工业投资和相关技术，促进产业融合，共同搭建面向全球的智慧制造超级复合体，协助中国的 机器人公司落地沙特。 沙特工业和矿产部旨在透过沙特智慧制造项目培育先进制造业和创新，以提高工业知识和沙地的全球竞 争力，增强其经济复杂性，改善当前的供应链状况，提高生产力，本地化新的先进制造业部门，增加制 造业出口，引入有吸引力的高技能工作，并创造在相关全球制造业指数中实现跨越式发展的机会。 合作意向书及合作框架协议内的合作是公司在 Web3 领域的重要里程碑，亦是从消费级 IP 向工业级 IP 的拓展，旨在借助创新商业模式，拓展业务领域，提升公司综合竞争力，有望为公司带来新的业务增长 点，对公司未来发展产生积极影响。 为了推进与沙特工业和矿 ...

智通财经9月27日讯（记者 黄路 沈娇娇）进入机器人展区，灵活游走的四足机器狗、声音甜美"机器人女友"根据观众点播唱歌互动、由多个机器人组合成了 一个专业的摇滚乐队、各种颜色的人形机器人在忙碌的工作……9月23日至27日，第25届工博会在国家会展中心（上海）举行。 （图源：智通财经记者拍摄） 作为中国工博会旗下以"机器人"为主题的专业展，机器人展（RS）历经十余年发展，已成为全球规模最大、行业影响力最广泛的国际顶尖盛会，被业界誉 为中国机器人产业发展的风向标。今年的机器人展以"具身智能・智领未来"为主题，创新特设人形机器人与电子制造设备两大特色展区，集中呈现全球机器 人领域的突破性技术与标杆应用成果。 W 六展联动 精彩不断 r TV 地點7 龍貓利用 CIIF 2026 启动GoCll 2026年10月12日~16日 国家会属中心（上海） www.cii-expo.com ( CWME&WIF - & 成都国际工业博览会 Company home internet manny ha A MILE BEA _c 手庫臨時工食病英含 = b 2012 - 11:56 ( 88) 2020-07-27 - 1 - ...

Core Insights - The 11th China Robot Summit Forum and the 8th CEO Roundtable successfully took place as a key event of the 25th China International Industry Fair, focusing on the theme "AI + Robots: Unlocking New Opportunities in Diverse Scenarios" [1] - The forum aimed to analyze the bottlenecks in the development of the robotics industry, share innovations in robot technology, and discuss the integration of AI and robotics to expand application boundaries [1] - The event is positioned to support the high-quality development of China's robotics industry by identifying opportunities in diverse scenarios and accelerating the formation of new productive forces [1]

Core Insights - The "AI + Robotics Investment Promotion Conference" was held in Hangzhou, focusing on the integration of AI and robotics, aiming to attract quality capital and innovative projects to the West Lake area [1][3] - West Lake District is leveraging its strong educational resources and innovation ecosystem to establish itself as a hub for robotics technology and industry [3][7] Group 1: Economic and Industrial Development - In 2024, the GDP of West Lake District reached 233.15 billion yuan, with a significant contribution from the digital economy, which exceeded 71 billion yuan, accounting for over 30% of the GDP [3][7] - The district has implemented comprehensive support policies covering investment, research and development, technological transformation, and talent incentives to facilitate the rapid establishment and production of robotics companies [7] Group 2: Event Highlights - The event featured presentations from five high-quality companies in the fields of medical robots, intelligent inspection robots, brain-controlled rehabilitation robots, care robots, and surgical robots, showcasing promising development prospects [4] - A keynote speech by the CTO of Shanghai United Imaging Healthcare highlighted the evolution of AI in surgical robots, emphasizing the transition from assistance to decision-making capabilities [5] Group 3: Government and Policy Support - The West Lake District is actively integrating into national and provincial AI development strategies, with initiatives like the establishment of the "Zhijiang Robot Industry Service Port," which is the first humanoid robot pilot base in the Yangtze River Delta, with a total investment of approximately 300 million yuan [3][7] - The district aims to create a favorable business environment through the launch of the first national enterprise service AI platform, "Xiaofu," to attract global entrepreneurs for mutual development [3]

Core Viewpoint - The company maintains a "buy" rating, highlighting its leadership in the digital repair sector and the potential for significant growth in its AI and robotics solutions, projecting net profits of 804 million, 1.013 billion, and 1.246 billion yuan from 2025 to 2027, with corresponding EPS of 1.20, 1.51, and 1.86 yuan per share [1] Group 1 - The company has achieved a dual championship in North America, ranking first in both TPMS sensors and diagnostic tools, showcasing its product performance, price competitiveness, and brand recognition [1][2] - The global automotive market has over 1.4 billion vehicles, with 60% of vehicles in Europe and the U.S. being over 7 years old, leading to a sustained demand for TPMS replacements due to regulatory requirements [3] - The company reported a significant revenue increase of 56.83% year-on-year in the first half of 2025 for its TPMS series products, achieving sales of 516 million yuan, indicating strong growth momentum [3] Group 2 - The company is supporting the largest electric bus charging hub project in Cape Town, South Africa, which represents a significant step in public transport electrification in Africa [4] - The project aims to deploy 120 electric buses by December 2025, highlighting the potential of emerging markets for the company's growth [4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is a global leader in digital maintenance, with its intelligent source business becoming a high-growth second development curve. The AI + robotics integrated solutions are expected to create a third development curve for the company [4] - The company has achieved significant recognition in North America, ranking first in both TPMS sensors and diagnostic tools, solidifying its leadership position in the digital maintenance sector [5] - The company is expected to see strong revenue growth, with projected net profits for 2025-2027 at 804 million, 1.013 billion, and 1.246 billion yuan, respectively [4] Financial Summary - The total revenue for 2023 is 3.251 billion yuan, with a year-on-year growth of 43.5%. The revenue is projected to reach 4.801 billion yuan in 2025, reflecting a growth rate of 22.1% [8] - The net profit for 2023 is 179 million yuan, with a significant year-on-year increase of 75.7%. The net profit is expected to grow to 804 million yuan in 2025, representing a growth of 25.5% [8] - The company's gross margin is projected to improve slightly from 54.7% in 2023 to 55.9% in 2027 [8] Market Opportunities - The global automotive market has over 1.4 billion vehicles, with a significant portion in the U.S. and Europe requiring TPMS installations due to regulatory mandates. The global TPMS market is expected to exceed 5 billion USD by 2025 [6] - The company is also involved in supporting the largest electric bus charging hub in Cape Town, South Africa, indicating potential growth in emerging markets [7]

Group 1 - The 2025 China International Industrial Fair (CIIF) opened on the 23rd, showcasing numerous new technologies and products, transforming the exhibition space into a market [1][3] - The fair attracted nearly 3,000 exhibitors from 28 countries and regions, featuring around 300 global debuts and nearly 200 Chinese premieres, with a focus on 392 "five extremes" exhibits [3][4] - The Ministry of Industry and Information Technology plans to enhance the overall effectiveness of the industrial technology innovation system during the 14th Five-Year Plan period, promoting deep integration of technological and industrial innovation [3][4] Group 2 - The "AI + Robotics" sector is highlighted as a key area of interest, with major international and domestic companies showcasing their latest innovations at the fair [4][5] - ABB launched the OmniCoreTM EyeMotion vision system and online automatic path planning technology globally, along with the IRB 6750S robot in China [4][5] - The density of industrial robots in China reached 470 units per 10,000 employees, second only to Singapore and South Korea, with expectations to exceed 500 units by 2025 [5][7] Group 3 - The global first heavy-duty industrial robot with a rated load of ≥5000 kg was showcased by Chai Fu Robotics, capable of lifting a car, demonstrating its versatility in various extreme conditions [6] - The demand for industrial robots is increasing, particularly driven by the rapid development of the domestic new energy vehicle sector [7] - JAKA Robotics launched the JAKA EVO industrial embodiment intelligent platform, which enhances efficiency from task development to actual operation in industrial settings [9] Group 4 - The CIIF featured significant national exhibits, including the C919 large passenger aircraft and the 300 MW F-class heavy-duty gas turbine, showcasing China's capabilities in high-end equipment manufacturing [11] - The "AI + Industrial Mother Machine" display area featured the μAI intelligent machine tool, which can autonomously plan and optimize production paths, improving efficiency by 40% to 60% [11][12] - A new pilot platform for high-end CNC machine tools was established, aiming to transition the first domestically produced high-end CNC machine from laboratory to real-world conditions [12]

Group 1 - The total market value of Nvidia approaches $4.5 trillion following a significant investment commitment of up to $100 billion from Nvidia to OpenAI, marking Nvidia's largest investment to date [15][16] - The stock price of Nvidia surged nearly 4%, reaching a historical high due to the positive news surrounding the partnership with OpenAI [15] - OpenAI is reportedly seeking to lease rather than purchase Nvidia's AI chips as part of their collaboration [16] Group 2 - The Shanghai Green捷 company is under investigation for allegedly concealing food safety information, with relevant personnel being controlled by law enforcement [5][6] - The company has publicly apologized to affected students and parents and is cooperating with authorities [6] - The incident involved the discovery of insects in shrimp delivered to a school, leading to a cover-up regarding the true nature of the issue [5] Group 3 - BOSS Zhipin has banned 2,000 accounts as part of a crackdown on inappropriate job postings and sexual harassment in recruitment [3] - The platform has initiated a reporting mechanism for companies involved in serious violations, ensuring accountability [3] Group 4 - McDonald's China plans to invest over 400 million yuan in talent training and development over the next three years, focusing on upgrading its Hamburger University [17] - The initiative aims to incorporate AI tools and personalized learning paths to enhance training for nearly 10,000 trainees [17] Group 5 - Xiaomi's new series, the Xiaomi 17, is fully compatible with the 100W PPS universal charging protocol, marking a significant update in their product line [8] - The company emphasizes the "epic update" of the Xiaomi 17 series, showcasing advancements in charging technology [8]