Hi, I'm Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. business schools. Investment Style: Spotting high-potential winners before they break out, focusing on asymmetric opportunities (with at least upside potential of 3-5X outweighing the downside risk). By leveraging market inefficienci ...

Core Viewpoint - U.S. stock futures are trending higher as investors anticipate potential interest rate cuts from the Federal Reserve, driven by optimism surrounding a dovish monetary policy shift and recent corporate news [1][3]. Premarket Activity and Index Futures - All three major U.S. stock index futures are showing positive movement, with S&P 500 futures up approximately 0.3% to 0.4%, Nasdaq 100 futures gaining around 0.4% to 0.5%, and Dow Jones Industrial Average futures advancing by roughly 0.2% to 0.3% [2]. - The S&P 500 is poised to extend a three-day surge of 3.5% [2]. Economic Data Releases - Key economic reports being released include the Federal Reserve's Beige Book, weekly jobless claims, durable goods orders, the second estimate for 3Q GDP, and new home sales for October [5]. - The Chicago Business Barometer and EIA Weekly Petroleum Status Report are also on the agenda, which will be crucial for assessing the U.S. economy's health [5]. Earnings Reports - Deere & Co. is set to release earnings, while Li Auto reported a net loss of RMB624.4 million (US$87.7 million) and a decrease in revenues [6]. - Best Buy and Noah Holdings Limited are also reporting earnings, with Noah highlighting solid overseas growth [6]. Major Stock News and Developments - Alphabet (GOOGL) shares are up approximately 1.9%, nearing a $4 trillion valuation, driven by potential collaboration with Meta Platforms [8]. - Nvidia (NVDA) is under pressure, with a 2.6% loss due to competition concerns from Google's AI chips [9]. - Dell Technologies (DELL) shares rose nearly 5% after raising its full-year guidance, targeting $25 billion in AI server shipments for fiscal year 2026 [10]. - HP Inc. plans to cut 4,000 to 6,000 jobs, leading to a more than 5% drop in its stock [11]. - Urban Outfitters (URBN) shares surged 17% following strong sales performance [11]. Other Corporate Developments - Workday (WDAY) raised its annual forecast but saw a 5.5% drop in shares, while Autodesk (ADSK) raised its sales outlook, leading to a 7% rise [12]. - Agilent Technologies Inc. and Keysight Technologies Inc. reported strong earnings, with shares rising 2.3% and 10% respectively [13]. - Advanced Micro Devices (AMD) dropped 4.15% due to concerns over Google's TPU advancements [14]. - Amazon (AMZN) plans to invest $15 billion in data centers and up to $50 billion to expand AI capabilities for U.S. government clients [15].

SEOUL, South Korea, Nov. 26, 2025 (GLOBE NEWSWIRE) -- RLWRLD, a robotics AI company building systems that enable robots to understand and interact with the physical world, today announced a strategic alliance with Microsoft to advance the research, development, and commercialization of industrial robotics AI technologies. As part of this strategic partnership, RLWRLD will collaborate with Microsoft across several key areas, including the use of Microsoft Azure’s cloud infrastructure, research engagement wit ...

Core Insights - The China Securities Regulatory Commission (CSRC) has recently approved the first batch of ETFs focused on robotics, following the approval of 16 hard technology products, indicating a strong policy push towards the hard tech sector [2][3] - The newly proposed ETFs will track the "CSI Innovation and Entrepreneurship Robotics Index," which includes 40 companies from the Sci-Tech Innovation Board and the Growth Enterprise Market that are involved in robotics [2][3] Fund and Product Overview - Seven fund companies, including Huaxia Fund and E Fund, have collectively submitted applications for the first batch of innovation and entrepreneurship robotics ETFs [2] - The CSI Innovation and Entrepreneurship Robotics Index emphasizes "hard technology" attributes, with constituent stocks concentrated in semiconductor, AI algorithms, and precision manufacturing sectors [3] Policy and Strategic Support - The "14th Five-Year Plan" and "15th Five-Year Plan" emphasize the importance of key core technology breakthroughs, including AI and robotics, to guide capital towards these sectors [3][4] - Local governments are also providing support, such as subsidies for integrated circuit development and rewards for high-quality AI products, creating a collaborative support framework [4] Market Dynamics and Growth Potential - The robotics sector is experiencing a development window due to technological breakthroughs and accelerated commercialization, with companies like Tesla and JD.com making significant investments [5] - The rapid growth of AI technology is providing strong momentum for the robotics industry, with AI application processing volumes increasing by 5-10 times compared to last year [5] Institutional Outlook - Fund companies are optimistic about the long-term development opportunities in the hard technology sector, despite recent market fluctuations [6] - The robotics industry is seen as having a "golden triangle" of strong policy support, technological breakthroughs, and valuation potential, suggesting a new growth phase is on the horizon [6]

Financial Data and Key Metrics Changes - In Q3 2025, Cheetah Mobile reported a total revenue of RMB 287 million, representing a 50% year-over-year increase, driven by a 151% growth in AI and other segments, which now account for 50% of total revenue compared to 30% in the same period last year [7][3] - The company achieved an operating profit of RMB 4 million, marking its first quarterly operating profit in six years, with a non-GAAP operating profit of RMB 50 million, compared to an operating loss of RMB 60 million in the same period last year [7][3] - Gross profit increased by 64% year-over-year, with gross margin improving to 75%, up from 68% in the year-over-year quarter [7] Business Line Data and Key Metrics Changes - The AI and other segments grew 151% year-over-year, contributing significantly to the overall revenue growth, while the internet business remained stable with a 6% year-over-year revenue increase [7][3] - The AI robotic business contributed about 15% of total revenue, growing approximately 100% year-over-year and 40% quarter-over-quarter [3][6] - The internet business delivered an adjusted operating profit of approximately RMB 21 million, up 55% year-over-year, while the adjusted operating loss for AI and other segments narrowed by 82% year-over-year [7] Market Data and Key Metrics Changes - The contract backlog for voice-enabled wheel robots in China increased by 32% from the previous quarter and has since doubled, indicating sustained demand [3][6] - The company noted strong demand for its voice-enabled robots, which are becoming more reliable and cost-effective for large-scale deployment [6] Company Strategy and Development Direction - Cheetah Mobile is focusing on building new growth engines through AI initiatives, particularly in AI robots and AI tools, which are seen as having enormous market potential [3][6] - The company aims to prioritize operating profit growth over revenue growth, particularly in its internet business, while managing costs and expenses in AI and other segments [7] - The strategy includes leveraging third-party and open-source models to enhance robot experiences and accelerate product updates [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's turnaround, highlighting that 2025 has been a solid year with strong growth momentum [3] - The CEO emphasized the importance of disciplined execution, improved operational efficiency, and the potential of AI technologies to drive future growth [7] - The company is optimistic about the long-term potential of its AI robot business and AI-native tools, indicating a shift beyond the turnaround phase [6][7] Other Important Information - Cheetah Mobile holds minority investments in several companies within the AI space, which could enhance organic growth opportunities in the future [3] - The company maintains a strong financial position with cash and cash equivalents of about $224 million and long-term investments of $107 million as of September 30, 2025 [7] Q&A Session Summary - The Q&A session included questions from various analysts, but specific details of the questions and answers were not provided in the transcript [15][16][18][20][22][24][26][28][30][32]

当有人询问小米机器人是否还在招人以及是否限制学历时，卢泽宇表示，机械、电子、控制、仿真（专业）都在招，主 要看项目经历，学历并非硬性限制，但需匹配相关经验。 小米机器人团队迎来重要人才加盟。 11月26日，智通财经获悉，前特斯拉Optimus（"擎天柱"）灵巧手团队成员卢泽宇正式入职小米，担任小米机器人灵巧 手负责人。 卢泽宇本人日前在个人社交平台发布动态确认了入职消息，还明确表示将带领团队加速灵巧手技术的"路径收敛与工程 化落地"，同时公开招募"志同道合的优秀同学"，吸引机器人领域技术人才加入。 据卢泽宇自述，加入小米之前，他在特斯拉Optimus灵巧手团队工作了两年多，读博期间也一直从事相关领域的研究。 他特别强调，在社交平台上网友可以问他任何问题，"只要不涉密都可以，一起探讨机器人相关的前沿技术。" 智通财经注意到，在其账号的互动评论区，卢泽宇围绕灵巧手技术、小米招聘及行业方向等内容参与了网友问答。对于 小米何时发布机器人，卢泽宇称公司一直在做，只是没有对外宣布。 招聘平台显示，小米机器人团队目前正在大力扩张，与"机器人"相关的在招职位超200个，其中与"灵巧手"相关的在招 职位有12个，涵盖机器人灵巧 ...

赋予机器人 人形 外观，一度是其从执行工具升级为具身智能的关键标识。 20 25 年 前三 季度全球 具身 智能机器人 赛道迎 来新品 爆 发期 。在这波产品浪潮中，一个显著特征引起了机器人大讲堂的关注： 据行业研究机构的不完全统 计， 企业采用轮式底盘搭配人形半身设计的产品数量达到45款，在总计55款新品中占比超过80% 。这一数据反映出当前人形机器人产业在技术路线选择上的集 体倾向。 轮式人形机器人的大规模涌现， 究竟是技术发展受阻后的退而求其次？是商业化压力下的权宜之计？还是具身智能演进过程中的必经阶段？ ▍ 轮 式人形 机器人的产业化逻辑 轮式方案在当前阶段展现出多重优势。技术层面，轮式移动平台的 控制算法相对成熟 ，企业可以将研发重心放在操作臂、感知系统和智能决策等核心模块上， 加快产品迭代速度。成本效益方面，轮式底盘的 制造和维护成本显著低于双足系统 ，有助于产品的规模化推广。在实际应用中，轮式平台在平坦环境下表现出 色—— 移动平稳、速度快、续航时间长、承载能力强 ， 这些特性恰好契合了当前大部分工业和商业场景的需求。 从产业发展的角度看， 轮式人形机器人的大规模出现代表了产业在技术可行性与商业 ...

机器人前瞻（公众号：robot_pro） 作者 | 许丽思 编辑 | 漠影 机器人前瞻11月26日报道，近日，前特斯拉Optimus灵巧手团队成员卢泽宇在个人社交平台上宣布，其已加入小米机器人团队，负责灵巧手，希望能和更多 志同道合的优秀同学一起加速灵巧手技术路径收敛和工程化落地。在PhD期间，卢泽宇就一直从事相关领域的研究。 在卢泽宇的个人主页，自我介绍为小米机器人灵巧手负责人。他在评论区还提到，正在招机械，电子，本体控制，仿真，系统整合等相关岗位。 最近，小米密集发布具身智能领域相关动态： 11月21日，小米发布具身大模型MiMo-Embodied并全面开源。据了解，该模型同步支持具身智能三大核心任务（可供性推理、任务规划、空间理解）与自 动驾驶三大关键任务（环境感知、状态预测、驾驶规划），形成全场景智能支撑。 11月12日，前DeepSeek研究员罗福莉发文宣布加入小米："智能终将从语言迈向物理世界。我正在Xiaomi MiMo，和一群富有创造力、才华横溢且真诚热爱 的研究员，致力于构建这样的未来，全力奔赴我们心目中的AGI。" 10月，北京小米机器人技术有限公司为"第三代人形机器人CyberOne"完 ...

11月26日，前特斯拉Optimus灵巧手团队成员卢泽宇已加入小米机器人团队，负责灵巧手，他在个人社交平台上表示，希望能和更多志同道合的优秀 同学一起加速灵巧手技术路径收敛和工程化落地。 在卢泽宇的个人社交平台上，其自我介绍为小米机器人灵巧手负责人。 ...

Core Insights - The Greater Bay Area (GBA) is emerging as a global hub for smart manufacturing, driven by its unique cultural heritage and technological advancements [3][5][10] - The region boasts significant production capabilities, contributing to 40% of global smartphones, 70% of consumer drones, and 25% of China's electric vehicles [7][15] - A robust ecosystem of nearly 100,000 smart technology companies, including industry giants like Huawei and BYD, supports a complete industrial chain from R&D to manufacturing [7][11] Industry Strengths - The GBA is characterized by seamless collaboration among upstream and downstream enterprises, enhancing the development of the smart industry [8][11] - Major technological breakthroughs are being achieved in various fields, including life sciences and integrated circuits, with rapid transformation of innovative ideas into market-ready products [8][10] - The region is home to nine trillion-level industrial clusters and 77,000 high-tech enterprises, indicating a strong foundation for future growth [7][15] Innovation and Collaboration - The GBA is set to become a global leader in innovation, with the "Shenzhen-Hong Kong-Guangzhou" innovation cluster projected to rank first globally by 2025 [10][11] - National key laboratories and top-tier research resources from Hong Kong and Macau are enhancing the region's innovation capabilities [11][15] - The GBA's collaborative model, combining Hong Kong's financial resources, Macau's market access, and the manufacturing strength of the Pearl River Delta, positions it as a "meeting hall" for global smart industry [15][19] Upcoming Events - The Global Intelligent Machinery and Electronic Products Expo (AIE) will take place from December 4 to 6, 2025, in Macau and Zhuhai, featuring over 1,200 technology companies and thousands of buyers [17][19] - The expo will showcase cutting-edge technologies and facilitate business matching opportunities, highlighting the GBA's role in the global smart manufacturing landscape [17][19]