科技创新和供给优化是破解养老服务领域人力短缺、提升服务效率和质量的核心动力，也是推动养老服 务体系从"传统照料型"向"智慧提质型"升级的战略支撑。 在品牌化建设方面，《若干措施》鼓励养老服务经营主体擦亮品牌、打响品牌，从品牌塑造、品牌保 护、品牌推广上给予全方位引导支持，为培育养老服务领域知名品牌、壮大龙头企业提供清晰政策路 径。 在促进养老服务市场化供需对接方面，《若干措施》提出，优化养老服务和适老化产品供给，引导养老 服务机构通过连锁化运营发展社区支持的居家养老，支持各地、电商平台、大型商超等，拓展和强化养 老服务产品供需对接、服务示范、行业指导、资源链接等功能，促进线上线下养老服务消费更便利、更 适配。 此外，《若干措施》还大力支持科技赋能养老服务，提出推动大数据、人工智能、北斗技术运用到老年 人健康监测和个性化服务等场景，鼓励养老服务机器人产业发展，支持智能设备开发企业嵌入养老机构 试点试用，为养老服务智能化发展、改善老年人服务体验指明方向；加快推动具身智能技术、新兴材料 技术、基因技术、康复辅具等产品研发，积极探索脑机接口、外骨骼机器人、肌肉外甲等技术，为身体 功能退化的老年人提供科技支撑。 民政部 ...

1月13日，民政部等八部门印发《关于培育养老服务经营主体促进银发经济发展的若干措施》（下称 《若干措施》），从品牌化建设、供需平台搭建、发展环境优化等方面，结合我国养老服务、银发经济 发展实际，提出五方面14项具体举措。 截至2024年末，我国60周岁及以上老年人口规模已突破3.1亿人。加快构建契合我国国情的养老服务体 系，聚力发展银发经济，既是积极应对人口老龄化挑战、切实增进老年人福祉的必然之举，亦是培育经 济增长新动能、深挖内需市场潜力的关键抓手。 对于维护养老服务经营主体权益，《若干措施》强调，规范行政监管，推动各地民政部门会同有关部门 合理确定对养老服务机构的行政检查频次、方式和范围，推行"双随机、一公开"监管，最大限度减少对 正常经营的干扰，坚决杜绝"乱收费、乱检查、乱执法、乱罚款"等行为。 科技创新和供给优化是破解养老服务领域人力短缺、提升服务效率和质量的核心动力，也是推动养老服 务体系从"传统照料型"向"智慧提质型"升级的战略支撑。《若干措施》明确，将推动大数据、人工智 能、北斗技术运用到老年人健康监测和个性化服务等场景，鼓励养老服务机器人产业发展，支持智能设 备开发企业嵌入养老机构试点试用，为 ...

6 一、宏观经济组： 事件 1： 分析师：刘笑瑜 1 月 9 日早 9 点半国家统计局公布 12 月中国物价数据。 证书编号：S1080525070001 电话：0755-23838239 邮箱：liuxiaoyu@fcsc.com 证券研究报告 点评报告 2026 年 1 月 12 日 晨会纪要 核[心Ta观bl点e_：Summary] 第一创业证券研究所 1 月 9 日晚 9 点半美国劳工统计局公布 12 月劳动力市场数据 评论 2： 评论 1： 中国 12 月 CPI 同比为 0.8%，预期为 0.8%，前值 11 月为 0.7%；核心 CPI 同比为 1.2%，，前值为 1.2%。12 月 CPI 环比为 0.2%，前值为-0.1%；核心 CPI 环比同样 为 0.2%，前值为-0.1%。由于 CPI 的回升，核心 CPI 与 CPI 之间同比差距缩小至 0.4%。 12 月食品环比为 0.3%，前值为 0.5%，而去年同期是-0.6%。其中，鲜果环比上涨 2.6%，鲜菜上涨 0.8%，水产品上涨 0.2%；而猪肉下跌 1.7%，蛋类持平。 12 月非食品环比为 0.1%，前值为-0.2%。其中，其它 ...

宇树CES展台，机器人在表演 作为一个传播学者，我很关注当前哪些叙事在公共AI讨论中占据主导地位，以及这些叙事如何引领了公众对AI技术能力、风险和收益的理解。我发现， CES 2026上的AI叙事，可以归结为两大主题——"AI is physical"、"AI is personal"。 人工智能一向不仅仅是数据、芯片和代码的集合，同样也是我们用来描述它的隐喻与叙事的产物。我们如何呈现这项技术，将决定公众想象中的AI模 样，也影响人们如何设计、使用 AI，以及它对社会的实际影响。 CES作为全球规模最大、影响力最广的消费技术产业盛会之一，长期被视作全球科技领域的年度风向标，近年更成为展示人工智能最新发展的聚焦点。 CES 2026上，从三星的The First Look到联想的"Smarter AI for All"，从家用机器人到智能眼镜，各类AI产品与服务无不强调与人类的互动。然而，技术的 展示不仅是功能和创新的呈现，更是叙事的建构：展览、活动、新品发布与品牌宣传等共同塑造了公众对AI的认知与期待。 黄仁勋与GR00T N1模型驱动的Blue机器人 AI is physical (人工智能是物理的) CE ...

节后机构调研个股有110多只，熵基科技调研机构数最多。熵基科技有132家机构调研，其中包括38家基 金公司、8家证券公司、21家私募、13家保险公司等。公司在调研中透露，熵云脑机依托熵基科技领先 的多模态视觉分析等技术，在智能脑机技术方面有一定探索，将聚焦于养老、医疗、教育领域，助力产 业智能化升级。另外，公司脑机原型机按计划正常推进。前期工作重点在于市场营销与品牌推广，预计 短期内不会对整体营收产生重大影响。公司看好脑机业务的市场潜力，但该业务对公司未来营收、业绩 贡献存在不确定性。超捷股份获超100家机构调研。从市场表现来看，近一周机构调研股平均上涨近 8%，普利特、成都先导、利欧股份、博瑞传播等个股均涨逾30%。 ...

Core Viewpoint - The company anticipates significant growth in net profit for the year 2025, driven by advancements in AI technology and its applications in various sectors [1][5]. Group 1: Performance Forecast - The company expects a net profit attributable to shareholders of 900 million to 930 million yuan for 2025, representing an increase of 259 million to 289 million yuan compared to the previous year, with a year-on-year growth of 40.42% to 45.10% [1][3]. - The projected net profit, excluding non-recurring gains and losses, is estimated to be between 870 million and 900 million yuan, reflecting an increase of 329 million to 359 million yuan from the previous year, with a growth rate of 60.88% to 66.43% [1][4]. Group 2: Previous Year Performance - In the previous year, the net profit attributable to shareholders was 640.93 million yuan [3]. - The net profit, excluding non-recurring gains and losses, was 540.77 million yuan [4]. Group 3: Reasons for Performance Change - The company has embraced AI comprehensively, utilizing smart vehicle diagnostic terminals and intelligent energy hubs to provide services globally, which has driven rapid growth in performance [5]. - In the AI + diagnostic field, the company has deepened its application of AI multimodal voice models and AI agents, leading to high customer recognition and rapid growth, particularly in TPMS products [5]. - In the AI + charging sector, the company has enhanced its end-to-end system capabilities, solidifying its "smart energy charging model" and delivering projects to top global clients across various industries [5][6].

Core Viewpoint - The company, Daotong Technology, anticipates a significant increase in net profit for the year 2025, driven by its strategic embrace of AI technologies and innovative product offerings [3][4]. Financial Performance - The company expects a net profit attributable to shareholders of 900 million to 930 million yuan for 2025, representing an increase of 259 million to 289 million yuan compared to the previous year's profit of 640.93 million yuan, which translates to a year-on-year growth of 40.42% to 45.10% [3]. - After excluding non-recurring gains and losses, the projected net profit is expected to be between 870 million and 900 million yuan, an increase of 329 million to 359 million yuan from the previous year's 540.77 million yuan, indicating a year-on-year growth rate of 60.88% to 66.43% [3]. Business Strategy and Growth Drivers - The growth in performance is primarily attributed to the company's comprehensive adoption of AI strategies, focusing on smart vehicle diagnostic terminals and intelligent energy hubs to provide intelligent services to global customers [4]. - In the AI + diagnostics sector, the company is deepening its application of AI multimodal voice models and AI agents, with new products featuring AI characteristics receiving high recognition from customers. The TPMS product line continues to experience rapid growth, significantly contributing to the performance increase [4]. - In the AI + charging sector, the company is enhancing its end-to-end system capabilities, covering power modules, liquid-cooled ultra-fast charging equipment, and intelligent operation and AI inspection, solidifying its "smart energy charging model" and related applications. Successful project deliveries have been made to top global clients across various industries, including energy, transportation, parking, and hospitality, leading to an increase in business scale and market share [4]. - The company is also promoting AI-driven digital transformation and organizational capability building, which has continuously optimized operational efficiency and provided a solid foundation for performance growth [4].

（原标题：道通科技预计2025年扣非净利润8.7亿元至9亿元? 同比增长60.88%至66.43%） 1月9日晚间，道通科技(688208)发布2025年度业绩预告，公司预计2025年年度实现归属于母公司所有者的净利润为9亿元至9.3亿元，与上年同期相 比，将增加2.59亿元至2.89亿元，同比增长40.42%至45.10%；预计2025年年度实现归属于母公司所有者的扣除非经常性损益的净利润为8.7亿元至9 亿元，与上年同期相比，将增加3.29亿元至3.59亿元，同比增长60.88%至66.43%。 道通科技表示，公司业绩增长主要包括两方面的原因。一方面，公司全面拥抱AI，以数智车辆诊断终端、智慧能源中枢为业务入口，持续为全球 客户提供智能化服务，驱动了业绩的快速增长，并积极探索在具身智能集群领域行业大模型的商业化应用。 具体来看，在AI+诊断领域，道通科技持续深化AI多模态语音大模型和AI Agents应用，具备AI特性的新品获得客户高度认可，实现了业绩的快速 增长，其中TPMS产品持续保持高速增长。在AI+充电领域，道通科技持续深化从功率模块、液冷超充设备到智能运维及AI巡检的端到端系统能 力，夯实"数智 ...

Core Viewpoint - The company, Daotong Technology (688208.SH), expects to achieve a net profit attributable to shareholders of 900 million to 930 million yuan for the year 2025, representing a year-on-year growth of 40.42% to 45.10% [1] Group 1 - The company is fully embracing AI, utilizing smart vehicle diagnostic terminals and intelligent energy hubs as business entry points [1] - The rapid growth in performance is driven by the continuous provision of intelligent services to global customers [1] - The company is actively exploring the commercialization of industry large models in the field of embodied intelligent clusters [1]

Core Viewpoint - Daotong Technology (688208.SH) expects a net profit attributable to shareholders of 900 million to 930 million yuan for the year 2025, representing a year-on-year growth of 40.42% to 45.10% [1] Group 1 - The company is fully embracing AI, utilizing smart vehicle diagnostic terminals and intelligent energy hubs as business entry points [1] - The continuous provision of intelligent services to global customers has driven rapid growth in performance [1] - The company is actively exploring the commercialization of industry large models in the field of embodied intelligent clusters [1]