Core Insights - The "Specialized, Refined, Characteristic, and Innovative" enterprises in Beijing are experiencing accelerated growth, with the specialized board attracting 668 companies as of June 30, 2023, and 157 new companies joining in the first half of the year [1][4]. Group 1: Specialized Board Development - The specialized board has become a hub for high-tech industries, with nearly 90% of companies in fields such as new generation information technology, artificial intelligence, and biomedicine [4]. - The number of "Specialized, Refined, Characteristic, and Innovative" small giant enterprises has surpassed 100, indicating an increase in the board's value [4]. Group 2: Company Growth and Performance - Yunsheng Intelligent, a key player in the drone inspection sector, reported explosive growth, with first-quarter revenue exceeding the total revenue of the previous year [3]. - Jin Smith Technology, which specializes in indoor fitness equipment, achieved a revenue of 750 million yuan last year, with 80% of sales coming from overseas markets [9]. Group 3: Financing and Support Mechanisms - The specialized board has facilitated over 15 billion yuan in cumulative financing for its listed companies, with over 3 billion yuan raised in equity financing in the first half of 2023 [11][12]. - Companies listed on the specialized board can receive up to 300,000 yuan in one-time rewards for private equity financing, a pioneering initiative in Beijing [12].

Core Insights - The fitness equipment industry is undergoing a transformation from "mechanical tools" to "smart health managers," driven by the integration of technology and fitness [1] - The Chinese smart fitness market is projected to reach a scale of 82 billion yuan by 2025, indicating a surge in user demand for scientific and efficient exercise [1] Group 1: Product Innovation - The launch of the Shuhua V10+ AI Running Master, which incorporates advanced AI technology and innovative design, aims to provide users with an unprecedented running experience [1][3] - The V10+ features the new FlexAir dynamic running platform, allowing users to switch between five different running surface modes, enhancing the running experience beyond traditional limitations [3] Group 2: AI Integration - The V10+ is equipped with the SRC patented running posture monitoring system, utilizing AI algorithms to monitor users' running data in real-time, helping to adjust running posture and reduce the risk of injuries [5] - The "AI Fitness Assistant" customizes exercise plans based on users' physical conditions, habits, and goals, promoting more scientific and efficient workouts [5] Group 3: Quality and Design - The V10+ boasts high-performance commercial motors and a dual-layer waxed running board, which doubles its lifespan and reduces joint pressure through an intelligent suspension system [7] - The integration of Siemens Sinamics V20 inverter provides millisecond response speeds for smooth speed adjustments, enhancing user comfort [7] Group 4: Industry Impact - The introduction of the V10+ represents a significant breakthrough for Shuhua Sports in the AI fitness sector, accelerating the industry's shift towards smarter and more user-friendly equipment [9] - Shuhua Sports is committed to continuous technological innovation, aiming to offer high-quality, intelligent fitness products that contribute to healthier lifestyles [9]

点此解锁研报全文及推荐详情 2、机器人轻量化｜机器人"瘦身革命"爆发！材料减重冲锋，核心部件轻量化跟进，这些公司共 同撬动千亿市场 轻量化技术已成为推动机器人行业发展的重要趋势，通过材料创新和核心部件的轻量化设计，机 器人的性能和应用边界得到了显著提升和拓展。轻量化技术的普及将为机器人行业带来更高效、 灵活、节能的解决方案，满足各行业对机器人的需求。建议关注相关标的 ...... 研报观点： ①下游业态变化，商业类健身场馆需求所有收缩，长期趋势向好...... ②中国制造比较优势突出，健身训练器材出口市场规模充足...... ③AI赋能产品，龙头品牌竞争优势有望扩张…… 研报金选 金选导读 1、寒冬or机遇？健身场馆缩水13%VS出口狂飙至458亿，龙头公司开始通过AI破局了 2、机器人"瘦身革命"爆发！材料减重冲锋，核心部件轻量化跟进，这些公司共同撬动千亿市场 1、体育产业｜寒冬or机遇？健身场馆缩水13%VS出口狂飙至458亿，龙头公司开始通过AI破局 了 下游渠道经营业态变化催化行业洗牌，智能化浪潮有望进一步扩张头部品牌竞争优势。推荐 具备较强品牌、渠道及生产制造基础，有望受益智能化浪潮下产业集中度提升 ...

报告导读： 下游渠道经营业态变化催化行业洗牌，智能化浪潮有望进一步扩张头部品牌竞 争优势。 投资建议： 推荐具备较强品牌、渠道及生产制造基础，有望受益智能化浪潮下产业集中度提升的头部品 牌。 报告来源 以上内容节选自国泰海通证券已发布的证券研究报告。 扫码关注 星标不迷路 报告名称：AI风起，健身器材产业智能化加速——健身器材行业首次覆盖报告 报告日期：2025.07.02 报告作者： 刘佳昆 （分析师），登记编号： S 0880524040004 王文杰 ( 分析师 ) ，登记编号：S 0880525040070 毛宇翔 ( 分析师 ) ，登记编号：S 0880524080013 国泰海通证券研究所官方公众号 海量研报 | 热门活动 | 视听 内容 下游业态变化，商业类健身场馆需求所有收缩，长期趋势向好。 各类健身场馆、工作室等是器材最主要的 需求市场。自 2023 年以来尽管疫情已然得到有效控制，但国内各种线下健身场馆仍然呈现数量萎缩的态 势。根据 2023 中国健身行业数据报告， 2023 年我国广义健身场馆数量为 11.7 万家，相比 2022 年下 跌了 13% ，各类健身场馆中健身工作室下跌的幅度 ...

2025 年 07 月 03 日 英派斯(002899.SZ) 联手李未可进军 AI 眼镜赛道， 开辟第二成长曲线 携手李未可布局 AI 眼镜，开辟业务新增长点 2024 年 10 月，英派斯发布公告，公司拟向杭州李未可科技有限公司 投资 1000 万元，专项用于其 Chat 系列 AI 眼镜及 S 系列 AR 眼镜等 产品的迭代升级。同时，双方计划共同设立合资公司，股权结构为英 派斯持股 40%、李未可科技持股 25%，该合资公司将专注于智能运动 装备的研发、生产及销售业务。此次合作旨在以 AI 智能眼镜为切入 点，打造骑行、健身等垂直场景的智能运动装备产品系列，为 C 端消 费者提供全新的产品形态和商业模式，创造公司的第二增长曲线。 AI 眼镜领航，开拓运动健康新蓝海 AI 眼镜市场成长潜力显著。根据 IDC 预测，2025 年全球智能眼镜出 货量将达 1205 万台，同比增长 18.3%。随着 Meta 等科技巨头加速布 局运动场景 AI 眼镜，推出适配骑行、滑雪等场景的创新产品，运动 健康监测和户外交互正逐渐成为 AI 眼镜的核心应用场景，这为专业 运动品牌创造了新的发展机遇。在此背景下，国内健身器材 ...

Group 1 - Company Shuhua Sports (605299) showcased its high-end commercial fitness products at the Elevate Global Fitness Expo in London, aiming to expand its presence in the European market [1] - The Elevate Expo is a leading event in the fitness, sports, rehabilitation, and health sectors, featuring over 200 top global exhibitors and attracting thousands of industry attendees [1] - Shuhua's team engaged in intensive business discussions with several European fitness chain brands, regional agents, and professional distributors, laying the groundwork for a stable sales and service network in Europe [1] Group 2 - Shuhua Sports displayed flagship commercial fitness products, including the notable 88 and 89 strength series, as well as the star product 9100 cardio series, which attracted significant attention from professional attendees [3] - The 9100 cardio series includes high-end commercial treadmills, ellipticals, and exercise bikes, demonstrating exceptional stability, durability, and support based on experience from major events like the Beijing Winter Olympics and Hangzhou Asian Games [7] - The 88 series was developed in collaboration with world champions, focusing on providing precise movement trajectories and ergonomic resistance curves for a professional training experience [7] Group 3 - Shuhua's international business has seen rapid growth, with global sales ranking among the industry's top, covering over 110 countries and regions [9] - The participation in the Elevate Expo is part of Shuhua's strategy to accelerate its global expansion, promoting the vision of "Becoming Shuhua of the World" and integrating simple, scientific, and efficient exercise experiences into the lives of people worldwide [9]

Core Insights - The sports industry is reshaping the consumption ecosystem and becoming a key engine for activating the domestic economy through a multi-format integration approach [1] - The "sports+" model is driving collaborative development across various sectors such as culture, tourism, and manufacturing, showcasing strong growth momentum [1] Group 1: Event Economy - The event economy is emerging as a "traffic password" for consumption upgrades, with a 14.2% year-on-year increase in sales of sports entertainment products in Q1 2025, significantly outpacing the growth of total retail sales of consumer goods [3] - In March 2025, 32 marathons were held nationwide, attracting over 420,000 participants, with the Wuxi Marathon generating 505 million yuan in surrounding industry benefits and the Wuhan Marathon drawing 70,000 out-of-town runners, leading to nearly 300 million yuan in total consumption [3] - The deep integration of events with urban tourism is creating a new trend of "traveling with events," as seen in the Wuhan Marathon, which linked over 20 cherry blossom viewing spots, resulting in a more than fivefold increase in ticket bookings for scenic spots and a 364% surge in hotel bookings near the event [3] Group 2: Manufacturing and Consumption - The dual approach of manufacturing and consumption is constructing a full-chain ecosystem in the sports industry, with Ningjin, Shandong, being the largest commercial fitness equipment production base, holding over 70% of the domestic market share and exporting to over 170 countries [3] - The transformation of Beijing Shougang Park is a model of urban renewal, incorporating new sports projects and attracting a daily foot traffic of over 1,000, thus revitalizing existing assets and creating new consumption spaces [3] Group 3: Technological Empowerment and Policy Innovation - Technological advancements and policy innovations are injecting new momentum into industry upgrades, with the Shanghai sports consumption resource integration platform addressing traditional event resource fragmentation by connecting event resources with financial services and commercial support [5] - The popularity of smart fitness equipment and VR sports training is enhancing the exercise experience, with 540 million people in China regularly exercising and a 57% increase in per capita sports spending compared to pre-pandemic levels, where smart equipment consumption accounts for 28% [5] - The sports industry has been included in the national strategic layout, with the "14th Five-Year Plan for Sports Development" aiming for a total industry scale of 5 trillion yuan by 2025, contributing 2% to GDP [5] Group 4: Economic and Social Impact - The synchronization of the sports industry with urban renewal, technological innovation, and consumption upgrades is not only releasing economic momentum but also fulfilling the public's aspiration for a better life [6] - Sports are transitioning from a "niche hobby" to a "national lifestyle," injecting lasting vitality into high-quality economic development [6]

不足900平方千米县域面积，却聚集了2986家健身器材企业，产品占国内商用健身器材70%的份额，并 销至170多个国家和地区， 形成从精密铸造、智能传感到物联网系统的完整产业链，山东省德州市宁津 县，正在全球健身产业版图上书写一段传奇。 在宁津，健身器材产业集群占地面积超500万平方米，从业人员超过4.5万人。目前，宁津县健身器材零 部件本地化率超过95%，一台健身器材从设计研发到生产加工再到包装销售，足不出县就能完成。 健身器材产业的发展，依赖于本地完整的产业链条，更得益于当地企业"数智化"管理水平。很多企业逐 年增加研发投入，凭借科技创新提高生产效率和产品竞争力。 随着智能化、数字化进程不断深入，宁津县健身器材展现了强大的核心竞争力，在研发生产及智能化应 用方面不断突破。智能化生产和智慧化管理，让现代化工厂运行更科学。 海水淡化不仅解决了企业"水从何来"的难题，也延伸出"盐向何用"的发展空间。淡化水有效缓解了用水 紧张，副产物浓盐水也变废为宝，形成了"吃干榨净"的循环利用模式。 数据显示，山东已建成海水淡化工程53处，日产规模达86.7万吨，居全国前列。 以低碳技术打造"绿色心脏"，是当前全球航运业转型和 ...

近期受到"苏超"热度影响，足球相关概念反复活跃。 自5月10日开幕以来， 江苏省城市足球 联赛（"苏超"） 吸引了大批球迷前往观赛，也带动6个主场城市文旅消费总额大幅增长。 以下文章来源于财联社早知道 ，作者财联社VIP 财联社早知道 . 准确、快速、权威、专业 由于原定比赛场地很难满足观赛需要， 日前，江苏多个城市申请更换成更多座位、灯光草 皮等条件更好的比赛场地 。官方数据显示，"苏超"目前已吸引了超过18万名球迷涌入各个 主场城市现场观赛，上座率堪比职业足球联赛。 随着"苏超"的火爆出圈，有网友通过问政四川平台留言呼吁四川举办类似的足球赛事。对 此，四川省体育局答复称，"巴蜀雄起杯"川超联赛将借鉴"苏超"联赛的健康发展经验，完 善赛事体系，强化监管，推动公平竞赛，并动员社会力量参与，促进群众足球与校园足球发 展，助力全民健身。 此外，广东省足协官网发布通知，2025赛季"粤超"计划于7月至10月 期间举行，共将有16支球队参赛，目前处于预报名阶段。 银河证券社服团队指出，自2019年国务院发布《体育强国建设纲要》以来，政策对体育赛 道支持度持续提升，叠加体育消费主力以青年群体为主，共同推动体育产业规模由 ...

Group 1 - Israel launched attacks on multiple targets in Iran, causing global stock indices to decline, with WTI crude oil futures surging nearly 14% and COMEX gold futures rising by 2% [1] - A-shares closed lower, with the Shanghai Composite Index down 0.75%, the Shenzhen Component down 1.10%, and the ChiNext Index down 1.13%. Sectors such as gold, oil, nuclear pollution prevention, and military industry saw significant gains [1] - The 62nd session of the "Digging Gold" competition concluded, with the champion achieving a return of 55.64%, the runner-up 48.48%, and the third place 46.61%. Participants capitalized on opportunities in blockchain, rare earth permanent magnets, and innovative pharmaceuticals [1][3] Group 2 - The competition is currently in a structural market phase, and participants can join a competition group to exchange valuable information and market insights [2] - The champion's successful investments included medical beauty stocks, agricultural chemicals, and rare earth permanent magnets, indicating strong market trend awareness [5] - Participants utilized "Fire Line Quick Review" to identify opportunities in innovative pharmaceuticals and silver sectors, with notable stocks performing well [6][8] Group 3 - The upcoming 63rd session of the competition will allow participants to simulate trading with a virtual capital of 500,000 yuan, with registration from June 14 to June 20 and the competition running from June 16 to June 20 [9] - Weekly cash rewards are available for positive returns, with the first place receiving 688 yuan and subsequent places receiving varying amounts [9][10] - Participants can gain access to "Fire Line Quick Review" for five days upon successful registration, with additional benefits for top performers [12]