Group 1 - The core viewpoint of the article is that Haosen Intelligent (688529.SH) is focusing its humanoid robot research and development primarily at its Dalian base, specifically at the Humanoid Robot Intelligent Manufacturing Innovation Center [1] - The company plans to dynamically adjust the division of labor and functions across different locations based on overall business layout and resource allocation needs, aiming for optimal resource configuration [1]

Core Viewpoint - The article highlights an upcoming live event focused on embodied intelligence technology, featuring expert Dr. Hu, who will discuss the VLA algorithm and RDT model, providing insights into their principles, applications, and development trends [1][2]. Group 1: Live Event Details - The live session is scheduled for August 21, 2025, at 19:00, hosted on the RoboTalk video platform [2]. - Participants will have the opportunity to engage in a multi-round lottery during the live stream, with chances to win various prizes [1]. Group 2: Key Highlights of the Live Session - Comprehensive interpretation of six categories of VA algorithms, focusing on understanding the content and advantages of different solutions [2]. - Full-chain analysis of the RDT model, covering architecture, dataset, training details, and inference effects [2]. - Sharing of practical replication experiences based on the EA200 platform, including algorithm replication and optimization strategies [2]. - Recommendations for quickly establishing an experimental environment for embodied intelligence [2].

Investment Rating - The report assigns an "Increase Holding" rating for the industry, indicating a potential growth of over 15% relative to the CSI 300 index within the next 12 months [10]. Core Insights - The report highlights that Zhiyuan Robotics has a significant advantage in the humanoid robot sector, with accelerated scene implementation and suggests focusing on investment opportunities within the related industrial chain and the growth potential brought by technological iterations [5][3]. - The live broadcast of the "Expedition A2" robot's 24-hour autonomous operation in high-temperature conditions showcases Zhiyuan's technological confidence and adaptability, which is expected to enhance brand recognition and market share [5][2]. - Zhiyuan Robotics has made notable achievements in product layout and commercialization, with the mass production of the 1000th general-purpose humanoid robot scheduled for January 2025, marking a significant milestone in the industry [5][2]. - The company has secured substantial contracts, including a multi-million yuan collaboration with Fulian Precision and a project worth over 70 million yuan with China Mobile (Hangzhou) Information Technology Co., demonstrating its market competitiveness and ability to drive commercialization [5][2]. Summary by Sections Investment Recommendations - The report recommends focusing on robot manufacturers and core component suppliers within the Zhiyuan Robotics industrial chain, with specific attention to companies like Wolong Electric Drive, Obsidian Technology, Lens Technology, Junpu Intelligent, Ningbo Huaxiang, Zhongdali De, and Fulian Precision [5][3]. Technological and Ecological Development - Zhiyuan Robotics has released the world's first embodied world model EVAC and evaluation benchmark EWMBench, which are expected to break technical barriers and accelerate the industry's technological advancement [5][2]. - The company adopts a "Huawei ecological strategy" to expand its network through joint ventures, investments, and partnerships, effectively integrating high-quality resources across various fields to support long-term technological innovation and market expansion [5][2].

Core Insights - The article emphasizes that embodied intelligence is becoming the core battlefield of the next technological competition, representing a significant step in integrating digital intelligence into the physical world [2][5] - It highlights the rapid advancements in this field over recent months, showcasing various milestones such as robots performing at events and challenges, while questioning the distance to true cross-scenario implementation [2][5] - The article discusses the need to overcome core bottlenecks, particularly generalization capabilities, to enable robots to operate effectively in dynamic environments and create sustainable commercial value [2][5] Event Overview - The 2025 Inclusion·Bund Conference will take place from September 10 to 13, 2025, in Shanghai, focusing on embodied intelligence [3] - A forum titled "Embodied Intelligence: From Generalization to Action, Reshaping the Future of Industries" will be held on September 11, featuring various discussions and presentations from industry leaders and experts [3][4] Forum Agenda - The forum will include keynote speeches, thematic presentations, and roundtable discussions, addressing the technological innovations needed for robots to achieve true generalization and actionable capabilities [5][9] - Notable speakers include experts from Tsinghua University, NVIDIA, and various robotics companies, discussing topics such as efficient data simulation, the next steps for embodied intelligence, and commercialization pathways [8][9][12][13][15][19]

Core Viewpoint - The article discusses the collaboration between Ningbo Dongfang University of Technology and prestigious institutions like Shanghai Jiao Tong University and University of Science and Technology of China to recruit doctoral students in the field of robotics, emphasizing a dual mentorship model and a focus on cutting-edge research in robotics and AI [1][2]. Group 1: Program Structure - The program allows students to register at either Shanghai Jiao Tong University or University of Science and Technology of China for the first year, followed by research work at Dongfang University under dual supervision [1]. - Graduates will receive a doctoral degree and diploma from either Shanghai Jiao Tong University or University of Science and Technology of China [1]. Group 2: Research Focus and Support - The research areas include robotics, control, and AI, with specific topics such as contact-rich manipulation, embodied intelligence, agile robot control, and robot learning [2]. - The lab provides ample research funding, administrative support, and encourages a balanced lifestyle for students, promoting physical health and long-term career development [2]. Group 3: Community and Networking - The article highlights the establishment of a community called "Embodied Intelligence Knowledge Planet," which serves as a platform for technical exchange, job opportunities, and academic discussions in the field of embodied intelligence [3][5]. - The community aims to grow to nearly 10,000 members within two years and offers resources such as technical routes, project solutions, and job postings from leading companies in the robotics sector [5][19]. Group 4: Educational Resources - The community has compiled a comprehensive list of over 30 technical routes and resources for newcomers and experienced researchers, covering various aspects of embodied intelligence and robotics [18][22]. - It includes summaries of open-source projects, datasets, and research papers relevant to the field, facilitating easier access to information for members [32][25].

Market Review - The AI and robotics sectors continued their upward trend, achieving a "three consecutive days" increase, with the Huaxia AI ETF (589010) closing up 0.98% and reaching a peak intraday increase of 2.62% [1] - Key holdings included Chipone Technology leading with a 13.39% increase, followed by CloudWalk Technology at 4.79%, and both Daotong Technology and Yuntian Lifeng rising over 3% [1] - The Robotics ETF (562500) closed up 0.71%, experiencing significant volatility with an intraday peak fluctuation of 3.67% [1] - Notable performers included Hechuan Technology leading with a 14.50% increase, followed by Fengli Intelligent at 13.30%, Huachen Equipment at 11.11%, and Xiasha Precision hitting a 10% limit-up [1] - Total trading volume reached 2.022 billion yuan, indicating robust market activity and sustained liquidity [1] - The latest scale of the Robotics ETF reached 17.35 billion yuan, setting a new record and significantly surpassing comparable funds [1] Hot News - DeepSeek announced the upgrade of its online model to version 3.1, featuring a longer context window and readiness for testing [2] - Yuzhu Technology teased a new humanoid robot with a height of 1.8 meters and 31 degrees of freedom, suggesting agility and elegance [2] - Shanghai's implementation plan for accelerating "AI + manufacturing" aims to promote intelligent applications in 3,000 manufacturing enterprises over three years, establish 10 industry benchmark models, and develop around 10 "AI + manufacturing" demonstration factories [2] Institutional Views - Guojin Securities expressed optimism regarding the domestic advantages in the integration of AI with software and hardware, particularly in consumer and overseas markets, as evidenced by the preliminary validation from Meitu and Kuaishou's ARR [3] - The firm also anticipates positive growth in the second half of the year, with expected increases in revenue contributions from AI applications in enterprise service software and manufacturing information systems [3] Popular ETFs - The Robotics ETF (562500) is noted as the only fund exceeding 10 billion yuan in scale, offering the best liquidity and comprehensive coverage of the Chinese robotics industry [4] - The Huaxia AI ETF (589010) is characterized as the "brain" of robotics, with a 20% fluctuation limit and small to mid-cap elasticity, aimed at capturing pivotal moments in the AI industry [4]

Group 1 - The core viewpoint of the articles highlights the increasing demand for automation and artificial intelligence solutions in gas stations, as demonstrated by the recent event where companies presented their technological solutions to meet the needs of PetroChina's Chengdu sales branch [1][2] - PetroChina's Chengdu sales branch has identified significant digital transformation needs across its 275 gas stations and 257 convenience stores, specifically mentioning requirements for unmanned refueling and on-site inspections [1] - Chengdu companies are developing tailored solutions for gas station automation, such as inventory management robots and AI systems, to enhance operational efficiency and reduce costs [1] Group 2 - The Secretary-General of the Sichuan Artificial Intelligence Industry Association suggests that Chengdu enterprises can explore practical applications of new technologies in various scenarios, including unmanned refueling and retail [2] - The Chengdu Science and Technology Bureau emphasizes that the "Innovation Tianfu·Intelligent Gathering in Rongcheng" series of activities will accelerate the exploration of market opportunities across different sectors [2]

Group 1 - The core viewpoint of the article emphasizes that humanoid robots are transitioning from laboratory settings to real-life applications, showcasing China's advancements in artificial intelligence and robotics [1] - The recent events, including the World Artificial Intelligence Conference, Robot Conference, and the Humanoid Robot Games, highlight China's innovative achievements and its role in facilitating global technological exchange [1] - China advocates for open cooperation in technology to foster innovation and progress, expressing willingness to enhance collaboration with other countries to empower global development [1]

1. Report Industry Investment Rating - Not explicitly mentioned in the report 2. Core Views of the Report - In July 2025, the national economy showed steady progress with new driving forces growing. Industrial production increased rapidly, consumption grew steadily, and investment maintained potential despite a slight slowdown [2][14] - The combined policies of anti - involution and expanding domestic demand continued to boost high - quality economic growth. Anti - involution policies aimed to optimize supply, and policies like consumer credit subsidies expanded domestic demand [4][15] - Humanoid robots moved towards scenario - based applications with improved autonomy. The first humanoid robot games and the World Robot Conference demonstrated their development [4][16] - In the context of increasing anti - involution efforts on the supply side, it's necessary to focus on whether the demand side can resonate with the supply side. Industries such as photovoltaics, lithium batteries, and new energy vehicles, as well as the AI industry, are recommended for attention [4][16] 3. Summary by Relevant Catalogs 3.1 Core Views - In July 2025, the national economy had positive performance. Industrial added value increased by 5.7% year - on - year, equipment and high - tech manufacturing grew significantly, and the output of 3D printing equipment, industrial robots, and new energy vehicles increased by 24.2%, 24.0%, and 17.1% respectively. Social consumer goods retail总额 was 387.8 billion yuan, with some categories showing strong growth. 1 - 7 months' fixed - asset investment increased by 1.6% year - on - year, and investment in some industries grew rapidly [2][14] - Anti - involution policies included industry associations' resistance to malicious competition and the central bank's focus on price stability. The consumer credit subsidy policy covered a wide range of consumption areas, promoting economic growth [4][15] - Humanoid robots achieved improvements in flexibility and scenario - based applications, and the high国产化率 at the World Robot Conference indicated enhanced autonomy [4][16] - Investment suggestions included focusing on emerging industries' anti - involution progress and the development of the AI industry, especially domestic AI's performance and application scenarios [4][16] 3.2 North Exchange Market Performance - The North Exchange 50 Index rose 2.40% from August 11th to 15th. Its annual increase was 42.25%, second only to the Wind Micro - cap Stock Index. The index had high volatility. Electronics and computers led the gains this week, while beauty care and national defense and military industries declined. GEBICA and Haineng Technology led the individual stock gains [17][21][28] 3.3 North Exchange 50 Activity Increase - The trading volume of the North Exchange 50 in the week of August 11th - 15th was 128 billion yuan, an increase from the previous week. However, due to a larger increase in the trading volume of the Wind All - A Index, its trading volume ratio decreased to 1.22% [33] 3.4 North Exchange 50 P/E Ratio Valuation at a Relatively High Level - On August 15th, the median P/E ratio (TTM) of the North Exchange 50 was 64 times, higher than the 29 - times median of the Wind All - A Index [34]

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