在2025年全球机器人产业加速渗透实体经济的浪潮中，首程控股凭借一季报的亮眼表现与张建伟院士的 加盟，再次成为资本市场关注的焦点。 一季度，首程控股净利润达2.13亿港元，同比增长80.5%。首程控股董事会办公室总经理康雨在业绩交 流会上表示，公司正处于历史上最好的发展阶段，管理层对公司未来充满信心。 这家从传统停车运营商蜕变为科技生态构建者的企业，正通过"资本+场景+产业链"的闭环逻辑，在机 器人领域书写着独特的投资叙事。管理层在交流会上表示，公司已投资近20家机器人企业，整体账面回 报率超过3倍，部分项目估值增长超过10倍，同时，机器人相关业务目前已经产生实际收入。预计明年 将有3家被投机器人企业实现上市，助力公司实现投资成果的进一步兑现。 首程控股价值属性与成长属性的双重共振，叠加院士级技术权威的赋能，为投资者提供了兼具确定性与 成长性的标的。 一、价值与成长的交响：传统业务稳如磐石，机器人业务蓄势待发 聚焦到业务层面，从一季报中可以看到，首程控股以停车和园区管理在内的资产运营业务经营稳健，持 续夯实公司基本盘。 截至2025年3月31日，首程控股管理的停车场已覆盖西安咸阳机场、广州白云机场、北京大兴机 ...

Core Viewpoint - The company, Shoucheng Holdings, reported a significant increase in shareholder profit and revenue for Q1 2025, indicating strong growth in its core business areas and a positive outlook for future performance [1][4]. Financial Performance - Shareholder profit reached HKD 213 million, a year-on-year increase of 80.5% [1]. - Revenue amounted to HKD 352 million, showing a year-on-year growth [1]. Business Strategy - The company operates in the smart infrastructure sector, focusing on asset operation and financing, including REITs and robotics, to drive sustainable growth [1]. - Management emphasized the deep synergy among four business segments, showcasing significant cross-empowerment effects in financial data [1]. Investment and Robotics - The company has invested in nearly 20 robotics firms, with an overall return rate exceeding 3 times, and some projects seeing valuation increases of over 10 times [2][8]. - Three invested robotics companies are expected to go public next year, further enhancing the company's investment returns [2]. Dividend Policy - The company announced a special dividend distribution plan totaling HKD 888 million, with multiple dividend payments scheduled throughout the year [6]. - The company maintains a high dividend payout ratio, reflecting its commitment to returning value to shareholders [6]. Business Growth Areas - The parking and park management sectors have shown robust growth, with a 40% revenue increase last year and an expected 30% growth this year [5]. - The company is innovating in parking asset management by transforming traditional revenue models into a mixed revenue system [5]. Robotics Ecosystem - The company has established a comprehensive ecosystem in the robotics sector, investing in various projects across humanoid, industrial, and medical robotics [7][10]. - The company aims to create a representative "industry ETF" in the robotics field by continuing to invest in approximately 20 robotics companies annually [8]. Future Outlook - The company is confident in maintaining a strong growth trajectory, supported by its dual business structure of stable core operations and innovative robotics contributions [9]. - Specific vertical applications for robotics are expected to scale in the next two years, focusing on high-value scenarios such as power inspection and medical assistance [11].