Market Performance - On January 5, the A-share market experienced a strong opening, with the Shanghai Composite Index rising by 1.38% to reclaim the 4000-point mark, marking a 12-day consecutive increase, the longest since March 1992 [1] - The Shenzhen Component Index increased by 2.24%, the ChiNext Index by 2.85%, and the Northbound 50 Index by 1.80%, with total market turnover reaching 25,672 billion yuan, an increase of 5,015 billion yuan from the previous trading day [1] Fund Issuance - In the first week of January 2026, a total of 84 new funds were launched in the market, with 52 debuting on the first trading day [3] - In 2025, a record 1,549 funds were established, raising a total of 12,041.39 billion yuan, with stock funds accounting for 54.29% of the total number and 35.26% of the total raised amount [3] Investment Outlook - Huatai Securities predicts a stable and sustainable "slow bull" market in 2026, focusing on technology innovation and shareholder return strategies to meet diverse investor needs [4] - According to Hualong Securities, the overall performance of listed companies is expected to improve, supported by proactive fiscal policies and a resilient global economy, with market valuations remaining reasonable and potential for expansion [5]

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Hoosun Technology Group Co., Ltd. 琥崧科技集團股份有限公司 (the "Company") (A joint stock company incorporated in the People's ...

其中，中国工程院院士、国家制造强国建设战略咨询委员会主任周济分享了我国智能制造发展两个阶段的"路线图"。他预计到 2035年，中国智能制造技术和应用水平将走在世界前列。 "当前，我们正处于以人工智能技术为标志的第四次工业革命起点，智能制造2.0将推动形成新的工业高潮，重塑技术体系、生产 模式与产业形态。"周济强调，未来十年是中国制造业从"数字化转型"到"智能化升级"的关键期，将分两个阶段推进，第一阶段 是数字化转型，第二阶段是智能化升级。 被誉为"大疆教父"的固高科技董事长, XbotPark机器人基地发起人、香港科技大学电子与计算机工程学系教授李泽湘在会上指 出，从产业基础维度点明湾区优势：凭借全球最完整的供应链与年轻的创业生态，粤港澳大湾区正从"制造工厂"跃升为"创新源 头"。 12月12日至14日，以"智联世界，湾区新篇"为主题的2025年粤港澳大湾区人工智能与机器人产业大会暨广东省人工智能与机器 人技能大赛（简称：XAIR大会）在广州举行。 作为粤港澳大湾区规格最高的人工智能和机器人产业盛会，今年的XAIR大会汇聚超600家代表性企业，参会总人数突破万人， 不仅是一场展示大湾区"赛博实力"的产业全景秀 ...

Core Insights - The 2025 World Intelligent Manufacturing Conference opened in Nanjing, focusing on "Digital Intelligence Driving New Quality Leadership" [1] - The conference announced the first batch of 15 leading intelligent factories in China, including XCMG and Nanjing Steel, as part of a national initiative to promote digital transformation and intelligent manufacturing [1][2] - The event featured a market exhibition covering 55,000 square meters, showcasing innovations from 456 companies across 21 countries, emphasizing international collaboration in intelligent manufacturing [2][3] Group 1: Intelligent Factories - The 15 leading intelligent factories span key industries such as equipment manufacturing, raw materials, electronic information, and consumer goods, demonstrating the breadth and depth of China's intelligent manufacturing [2] - XCMG has improved global customization capabilities through AI-driven R&D and manufacturing, reducing order delivery cycles by 55% [2] - Nanjing Steel achieved a 98.5% on-time delivery rate for customized special steel production using digital twin technology and AI, with a 50% reduction in new product development cycles compared to traditional methods [2] Group 2: Conference Highlights - The conference included the appointment ceremony for the new National Intelligent Manufacturing Committee and the release of several key documents, including the 2025 Intelligent Manufacturing Blue Book and the top ten technological advancements in global intelligent manufacturing [2][3] - The event aims to support the development of a modern industrial system and strengthen the real economy, aligning with national strategies for high-end, intelligent, and green manufacturing [3] - The conference has been held annually since 2016, establishing itself as a high-end platform for global cooperation and showcasing the achievements of Jiangsu's manufacturing sector [3]

Core Insights - Huayan Robotics will showcase its latest innovations at the International Robot Exhibition (iREX) 2025, focusing on human-robot collaboration to address global manufacturing challenges and societal issues [1][6] Product Highlights - The S50 Heavy Payload Robot will be introduced, featuring a 50 kg payload, 2,000 mm reach, and palletizing speeds of up to 13 cycles/min, aimed at logistics, warehousing, and food & beverage sectors [3] - The Elfin High-Speed Cobot will also be launched, offering 1.5 times faster motion for applications like sorting and loading, enhancing agility and operational consistency [3] - An intelligent automated welding solution based on the E10-Pro cobot will be presented, featuring drag-teaching, real-time seam tracking, and automatic deviation correction for various industries [4] - A high-precision vision inspection system, co-developed with KEYENCE, will be showcased, capable of capturing multi-dimensional data in 0.2 seconds for quality control [5] Company Commitment - CEO Guangneng Wang will engage with global experts at iREX 2025, emphasizing the company's commitment to international collaboration and the development of a smarter manufacturing ecosystem [6] - Huayan Robotics is trusted by partners in over 40 countries, focusing on cobot solutions that enhance efficiency, flexibility, and streamline operations for global manufacturers [8]

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission of Hong Kong take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Suzhou Dongshan Precision Manufacturing Co., Ltd. 蘇州東山精密製造股份有限公司 (the "Company") (A joint stock compan ...

Core Insights - The "Futian District Enterprise Collaboration Exhibition Area" has become a popular attraction during the 27th High-Tech Fair, showcasing a micro-innovation ecosystem that integrates technology, scenarios, data, and enterprises in real-time [1][2] Group 1: Exhibition Highlights - 27 pioneering companies presented over 100 innovative products in the exhibition area, focusing on cutting-edge fields such as AI, computing power, intelligent manufacturing, and data elements [2] - Notable products included an AI emotional companion toy by Beike Ruisheng, which features a self-developed lightweight voice model for multi-dimensional interaction, and SOON AI business cards by Kaijia Technology, enabling real-time translation in 145 languages [2][3] Group 2: Technological Integration - The exhibition showcased a comprehensive integration of capabilities from semiconductor to intelligent manufacturing, with companies like Hongxin Yu and Jinbai Ze demonstrating their one-stop solutions [3] - Various sectors presented innovative solutions, such as data assetization and public data intelligent analysis by companies like Runda Medical and Qingyan Technology, highlighting a complete link from underlying technology to application innovation [3] Group 3: Ecosystem Development - Futian is promoting the flow of innovative elements across parks, aiming to create a city-level innovation ecosystem through collaborative efforts among three major parks [3] - The collaborative display has evolved into an ecological resonance, forming a multi-layered linkage structure of technology research and development, application incubation, and industrial support [3]

Summary of China Industrials Update Industry Overview - **Industry**: China Industrials - **Current Cycle**: The industry is in an upcycle driven by industrial upgrades and replacement cycles [6][4][3] Key Long-term Drivers - **AI Technology**: Diffusion of AI technology into intelligent manufacturing and equipment [6][4] - **Advanced Equipment Localization**: Focus on localizing advanced equipment production [6][4] - **Global Expansion**: Companies are increasingly going global [6][4] Robotics Sector - **Booming Era**: The robotics sector is entering a new booming era, with significant growth expected [6][4] - **Market Growth**: The robot industry in China is projected to double by 2028, with drones, mobile robots, and collaborative robots (cobots) leading the growth [57][66] - **Localization**: High localization rates are expected, with the ranking from high to low being drones, service robots, mobile robots, cobots, and traditional industrial robots [72][66] Subsector Insights - **Automation and Robotics**: - **Outperforming Stocks**: Inovance, Geekplus, Han's Laser, Shuanghuan, Hongfa, and Neway Valve are recommended as outperformers [6][4] - **Market Performance**: The automation market is in a mild recovery stage, with flat sales year-on-year in 9M25 compared to a decline in 2024 [26][32] - **Future Outlook**: Positive outlook for 2026-27 recovery driven by replacement demand and AI applications [27][32] - **Construction Machinery**: - **Growth Factors**: Domestic and overseas growth supported by large-scale infrastructure projects and electrification [142][138] - **Sales Performance**: Heavy-duty truck sales increased by 22% year-on-year in 10M25, but a decline is anticipated in 2026 due to front-loaded demand [143][144] - **Lithium Battery Equipment**: - **Demand Growth**: Expected growth of 54% in 2025, driven by capacity expansions and the first major replacement cycle starting in 2025 [174][181] - **Market Dynamics**: Global demand for lithium battery equipment is projected to grow at approximately 30% in 2026-27 [176][181] - **Solar Equipment**: - **Cyclical Low**: The solar equipment sector is expected to remain at a cyclical low in 2026 due to global overcapacity and single-digit growth in installations [182][186] - **Shift to Semi Equipment**: Companies are diversifying into non-solar lineups to mitigate downturns in solar demand [183][186] Financial Metrics - **Return on Equity (ROE)**: Mixed trends across subsectors, with improvements expected in automation and lithium battery equipment, while solar equipment shows erosion [19][21] - **Price-to-Earnings (P/E) Multiples**: Most subsector valuations are above the five-year median, particularly in automation and solar equipment [13][12] Conclusion - **Investment Opportunities**: The China Industrials sector presents various investment opportunities, particularly in automation, robotics, and lithium battery equipment, while caution is advised in solar equipment due to expected downturns [6][4][182]

Core Insights - Guiyang is focusing on intelligent manufacturing as a key driver for high-quality economic development, contributing 31.1% to economic growth in 2024 with an average annual increase of 7.5% in value-added output of above-scale industries [1][10]. Group 1: Industrial Development in Guanshanhu District - The new energy vehicle industry cluster in Guanshanhu has become a benchmark for intelligent manufacturing, with over 20 supporting enterprises established since Geely Auto's settlement in 2018, aiming for an annual output value of 20 billion yuan by 2025 [2]. - Guiyang Shanju Battery Co., Ltd. operates an automated production line producing one battery pack every 2 minutes, achieving an output value of 800 million yuan in the first half of 2025 [4]. - The Intelligent Manufacturing Industrial Park has attracted 21 enterprises with a total investment of 1.35 billion yuan, focusing on high-end equipment like robots and semiconductors [5]. Group 2: Industrial Transformation in Qingzhen City - Qingzhen City is revitalizing traditional industries through aluminum-based new materials and green manufacturing, with a modern factory producing aluminum at a rate of 9 tons per hour [6]. - The aluminum processing industry in Qingzhen saw an output value exceeding 26.5 billion yuan in 2024, marking a year-on-year increase of 38.29% and accounting for 75.08% of Guiyang's total [7]. - Guizhou Zhenghe Tianzhu Technology Co., Ltd. is recognized as a national "Green Factory," producing 1.2 million tons of pre-mixed powder materials annually from solid industrial waste [9]. Group 3: Overall Economic Impact - Guiyang's industrial added value surpassed 100 billion yuan in 2023, with total output value exceeding 400 billion yuan, ranking 27th among 101 innovative cities in China [10].

Core Insights - Aichuang Intelligent Technology Co., Ltd. has been established in Ma'anshan with a registered capital of 30 million RMB [1] Company Overview - The legal representative of the company is Peng Cuiqing [1] - The company operates in various sectors including technology services, development, consulting, and transfer [1] - It is involved in the manufacturing of hydraulic power machinery and components, general equipment, and intelligent instruments [1] Business Scope - The business scope includes technology promotion, equipment rental (excluding licensed rental services), and property management [1] - The company is also engaged in research and development of mechanical equipment and systems [1]