Group 1 - The recent performance of artificial intelligence and humanoid robot concept stocks in the Hong Kong market has been notably active, indicating a significant increase in market sentiment driven by industry development dividends [1] - Companies listed in Hong Kong related to humanoid robots and intelligent manufacturing, such as MINIMAX-WP (0100.HK), UBTECH (9880.HK), and Kingsoft Cloud (3809.HK), have seen their stock prices rise, reflecting a reassessment of the growth potential and commercial value of the AI and robotics sectors [1] - Nobikang AI Technology (Chengdu) Co., Ltd., which was listed on December 23, 2025, experienced a remarkable debut with its stock price opening at HKD 319.8 and increasing by over 300%, showcasing strong market interest in quality AI stocks [1] Group 2 - The Chinese government has emphasized accelerating the commercialization of high-end manufacturing, artificial intelligence, and intelligent robotics, incorporating the robotics industry into key development directions and implementing supportive measures such as industrial funds and tax incentives [3] - The Hong Kong government is committed to establishing itself as an international innovation and technology center, supported by initiatives like the HKD 3 billion "Frontier Technology Research Support Program" and the AI Supercomputing Center's upgrade to 3000 PFLOPS, creating a comprehensive support system from research to industrialization [3] Group 3 - Baohui Capital has played a crucial role in promoting industry development, successfully assisting UBTECH (9880.HK) in its listing on the Hong Kong Stock Exchange, which has become a focal point in the global capital market [5] - Following its listing, UBTECH has further raised funds through placement to invest in core R&D and capacity expansion, solidifying its leading position in China's humanoid robot industry, with production capacity increasing to 300 units per month and expected annual deliveries surpassing 500 units in 2025 [5] - The outlook for the Hong Kong market is positive, with expectations that it will serve as a core platform for corporate financing and become a regional hub for global capital, technology, and enterprises due to its status as an international financial center and a well-developed innovation ecosystem [5]

在机器人学习如何"做人"这件事上，数据是核心要素——但它们大多诞生于实验室或特定"数据工厂"， 由专业团队设置模拟场景、反复演练、录制。然而，一千个家庭就有一千张不同的餐桌，饮食习惯不 同、物品摆放各异，甚至还随时可能有一只猫突然跳上来。 如何让具身智能更接近"人"？上海人工智能企业"穹彻智能"推出"口袋机采（RoboPocket）方案"——仅 由智能手机、App和轻巧机械手，即可实现轻量化、可控且高质量的数据采集。这意味着，在家庭、办 公室等各种真实场景，普通人也能成为机器人的"训练导师"。 "过去，具身智能数据采集大多通过雇佣专职的数采人员在数采工厂中完成，现在我们想让每个人能在 自己家里为具身智能采集有价值的数据。"穹彻智能研究科学家吕峻在接受本报记者采访时说，"这意味 着，数据采集从有限的物理空间，走向全社会。" 回顾自动驾驶的发展，当系统从实验室走向真实道路，数据也从少量、受控的采集，转向在真实场景中 的规模化沉淀，推动模型能力的快速演进。"具身智能与其他人工智能领域不同，没有现成的、海量 的、能给机器人学习的行为数据，我们需要找到一个方式记录人类世界千奇百怪的各种行为，来训练具 身智能的大模型。" ...

以铜为镜，可正衣冠；以史为镜，可知兴替。 信息科技以惊人的速度发展，并在每次科技变革中，都会涌现出耀眼的独角兽企业。如今的生成式AI时代，OpenAI无疑是全球最耀眼的大模型独角兽，国 内也涌现出无数大模型企业，仅完成备案的生成式AI的数量就达748个。 图片来自智谱官网 其中，MiniMax、智谱AI、百川智能、零一万物、月之暗面与阶跃星辰这六家大模型初创企业，有大模型"六小虎"之称，受到资本青睐。 一方面，月之暗面近期获得了一笔5亿美元的融资。MiniMax与智谱AI则通过赴港上市，共筹得超91亿港元，显示出受到资本追逐。 另一方面，人工智能历经70年发展，从神经网络到深度学习，到如今进入生成式AI时代，各界纷纷顺势而为，加速向智能化升级。由此，驱动全球人工智 能市场呈现快速发展态势。随着AI大模型快速发展，人工智能迎来前所未有的发展机遇，市场潜力巨大。 还有，无论是To C端还是To B端，均展现出强劲的发展态势。就C端个人用户而言，正深刻重塑信息获取方式，通过豆包、DeepSeek、Kimi等大模型的自然 交互获取信息，大有取代传统搜索引擎的态势，成为用户获取信息新入口。 面向企业的B端市场，特别是在 ...

Core Insights - The article emphasizes the importance of continuous improvement and innovation within the company, highlighting how small changes can lead to significant benefits in efficiency, cost reduction, and customer satisfaction [1] Group 1: Problem Identification and Improvement Opportunities - The company identifies bottlenecks in production and service processes as critical points that affect efficiency and customer experience, viewing each bottleneck as a valuable opportunity for improvement [2] - In early 2024, the company addressed a persistent issue with the smart blackboard's key malfunction rate, which had been around 0.2% for two months, by forming a QC team that successfully reduced the malfunction rate to 0.1% over three months [2] Group 2: Extending Improvement to Supply Chain Collaboration - The company recognizes that many bottlenecks arise from interactions with partners, prompting a shift from internal improvements to end-to-end value stream enhancements, thereby fostering a collaborative quality improvement ecosystem [2] - The company has assisted in establishing nearly 200 QC teams among its suppliers, which not only resolves its own issues but also enhances the overall quality levels of its partners, improving supply chain stability and agility [2] Group 3: Achievements and Cultural Development - Over the past three years, the company has seen significant results from its QC activities, including the creation of over 400 standardized documents, optimization of more than 80 processes, and the development of over 60 replicable best practice cases, contributing to sustained improvements in quality and efficiency [3] - The company has established a QC management system to systematically promote QC activities, ensuring the achievement of quality, cost reduction, and efficiency goals, while fostering a strong culture of continuous improvement among employees [3] - The company organizes internal competitions to showcase QC improvement results, which has cultivated a culture of quality innovation and transformed employees from passive task receivers to proactive value creators [3]

今日A股股指集体震荡回调，创业板指跌1.96%，盘面上，医疗服务、CRO概念、医药商业板块纷纷上 涨，科技赛道涨跌不一，截至收盘，沪市规模最大的人工智能AIETF（515070）跌2.92%，其持仓股用 友网络、中科星图涨幅超6%，合合信息、科大讯飞、三七互娱表现较好，恒玄科技、复旦微电、光迅 科技等股领跌。 财信证券认为，AI医疗产业正迎来黄金发展期。医学影像AI辅助诊断、智能手术机器人、药物研发AI 平台等创新成果加速落地，产业链上下游协同发力，形成从算法研发、数据服务到产品应用的完整生 态。未来，随着人工智能技术的持续发展和群众医疗健康需求持续提升，AI医疗领域有望进一步扩 容。 人工智能AIETF（515070）跟踪CS人工智能主题指数（930713），成分股选取为人工智能提供技术、 基础资源以及应用端个股，聚集人工智能产业链上中游，俗称"机器人"大脑"缔造者"，万物互联"地 基"。前十大权重股包括中际旭创、新易盛、寒武纪-U、中科曙光、科大讯飞、豪威集团、海康威视、 澜起科技、金山办公、紫光股份等国内科技龙头。 （文章来源：每日经济新闻） 消息方面，特斯拉CEO马斯克在访谈中表示，三年内机器人外科医 ...

Core Viewpoint - DeepSeek remains focused on AGI research without significant commercialization efforts, supported by substantial funding from its parent company, Huanfang Quantitative [2][35][41]. Group 1: Financial Performance of Huanfang Quantitative - Huanfang Quantitative earned approximately 50 billion RMB last year, indicating strong financial health [4][10]. - The average return rate for Huanfang Quantitative's funds in 2025 is projected to be over 55%, significantly outperforming the average return of 30.5% for quantitative funds in China [6][8]. - Huanfang Quantitative manages over 70 billion RMB in assets, contributing to its impressive profitability [9]. Group 2: DeepSeek's Research and Development - DeepSeek has maintained a steady output of high-level research papers, with the latest R1 paper showing a stable list of contributors [3][52]. - The development costs for DeepSeek's V3 and R1 models were relatively low, at 5.576 million USD and 294,000 USD respectively, allowing for extensive research funding from Huanfang Quantitative [15][16]. - With the substantial income from Huanfang Quantitative, DeepSeek can afford to develop numerous models without financial constraints [16][59]. Group 3: Competitive Landscape and Positioning - Unlike other major players like OpenAI, DeepSeek has not engaged in aggressive monetization strategies, focusing instead on pure AGI research [25][26]. - DeepSeek's approach contrasts with the commercialization efforts of competitors, allowing it to maintain a unique position in the AI landscape [24][49]. - The company benefits from a stable and committed research team, with minimal turnover, which is crucial in the competitive AI sector [51][57]. Group 4: Market Impact and Investor Sentiment - DeepSeek's technical papers have become valuable resources for investors, influencing stock prices of related companies in the semiconductor industry [60][66]. - The release of new models and technical reports has led to significant stock price movements, demonstrating the market's responsiveness to DeepSeek's advancements [70][72]. - Investors have found opportunities in the insights provided by DeepSeek, treating its research as a guide for investment decisions [61][72].

坚持政策支持与改革创新并举。 五是财政收支增速较低，部分基层"三保"压力较大。 2025年是很不平凡的一年。全国上下坚定不移贯彻新发展理念，推动高质量发展，实施更加积极有为的 宏观政策，顺利完成了经济社会发展主要目标。特别是在外部压力下，我国经济顶压前行、向新向优发 展。前三季度GDP增长5.2%，较去年同期加快0.4个百分点，全年经济增速预计达到5%左右、经济总量 预计达到140万亿元，这样的成绩来之不易。同时，物价、就业总体平稳，外汇储备稳定在3.3万亿美元 以上，人民币汇率保持基本稳定。 产业结构也在持续优化，新质生产力稳步成长。人工智能、生物医药、机器人等新兴产业蓬勃发展，位 居国际前列。"两新"政策成效显著，2025年1~11月消费品以旧换新带动相关销售额超2.5万亿元，其中 汽车换新超1120万辆，家电换新超1.2亿台。设备更新改造投资增长12.2%，拉动整体投资增长1.8个百 分点。外贸结构持续升级，机电产品出口占比已超60%。企业效益也有所改善，2025年1~10月规上工业 企业利润增长1.9%。 可以说，2025年经济运行稳中有进，实现了发展目标，"十四五"圆满收官，为"十五五"开局打下坚实 ...

人民财讯1月13日电，江苏省人民政府印发江苏省"人工智能＋"行动方案的通知，充分发挥江苏产业、 数据、场景、人才等优势，加快人工智能技术创新，强化算力、算法、数据等高效供给，推动人工智能 赋能千行百业、进入千商万店和千家万户。到2027年，率先实现人工智能广泛深度融合，新一代智能终 端、智能体等应用普及率70%以上，产业规模快速增长。到2030年，新一代智能终端、智能体等应用普 及率90%以上，形成一批国内领先的大模型，打造一批规模化商业化应用场景，人工智能产业规模超万 亿元，智能经济成为全省经济发展的重要增长极。到2035年，建成国内领先的"人工智能＋"创新策源 地、产业新高地和融合应用先导区，全面步入智能经济和智能社会发展新阶段。 ...

（文章来源：第一财经） 江苏省政府发布关于印发江苏省"人工智能＋"行动方案的通知。其中提到，到2027年，率先实现人工智 能广泛深度融合，新一代智能终端、智能体等应用普及率70%以上，产业规模快速增长。到2030年，新 一代智能终端、智能体等应用普及率90%以上，形成一批国内领先的大模型，打造一批规模化商业化应 用场景，人工智能产业规模超万亿元，智能经济成为全省经济发展的重要增长极。到2035年，建成国内 领先的"人工智能＋"创新策源地、产业新高地和融合应用先导区，全面步入智能经济和智能社会发展新 阶段。 ...

Core Insights - The company, UBTECH Robotics, has initiated mass production and delivery of its Walker S2 humanoid robots, achieving nearly 1.4 billion yuan in orders for the year [1] - UBTECH has launched the world's first collaborative training with multiple humanoid robots across various scenarios and tasks, partnering with several leading industry enterprises [1] - The company has developed a pioneering hot-swappable autonomous battery replacement system for humanoid robots, enabling 24/7 operational capabilities [1] Group 1 - Humanoid robots are seen as the ultimate embodiment of intelligent technology, crucial for upgrading manufacturing and building new productive forces [2] - UBTECH emphasizes quality as the "conscience of the enterprise," establishing a high-standard quality management system covering R&D, materials, production, and sales [2] - The company has achieved ISO certifications in quality, environmental, and occupational health and safety management systems, ensuring comprehensive product reliability [2] Group 2 - As of June 2025, UBTECH has been granted 2,790 patents and has actively participated in the formulation of approximately 40 standards in the fields of intelligent robotics and artificial intelligence [2] - The company's advancements reflect the maturity of Chinese humanoid robot technology, facilitating the transition from "laboratory" to "production line" [3] - UBTECH aims to continue driving industry upgrades through innovation, integrating intelligent robots into various sectors and contributing to the high-quality development of the global humanoid robotics industry [3]