格隆汇1月28日｜华鑫证券研报指出，飞荣达盈利显著上行，液冷与具身智能加速导入。预计2025年全 年归母净利润为3.6-4.2亿元，同比增长57.23%-83.43%。公司在消费电子、通讯等核心应用领域的市场 份额提升，并在前沿领域如服务器液冷散热、具身机器人等取得阶段性成果，新能源汽车领域定点项目 订单逐步释放，综合竞争力和盈利水平有所上升。公司液冷业务放量在即，技术储备领先；切入具身智 能核心环节，协同布局灵巧手。目前，公司具身智能相关产品已通过多家核心客户认证，部分项目进入 送样、测试及小批量供货阶段。给予"买入"投资评级。 ...

2026年1月20日，上海国际具身智能产业博览会（CIEI 2026）新闻发布会在京召开。中国机电一体化技术应用协会会长曲道奎、中国国际贸易促进委员会上 海市分会副会长顾春霆、上海市国际展览（集团）有限公司总裁徐佳等领导及多方代表出席活动。发布会由中国机电一体化技术应用协会常务副会长王继宏 主持。 曲道奎在致辞中提到，2025年全球具身智能市场规模达到195.25亿元，我国已在具身智能领域构建起完整的产业生态，为产业高质量发展奠定了坚实基础。 目前亟需高水平的平台实现资源聚合、技术碰撞、供需对接。CIEI 2026除了硬核的技术、产品展示，将更注重展会的产业价值赋能，积极响应产业发展需 求，助力具身智能产业高质量发展。 顾春霆致辞表示，上海市贸促会作为中国国际贸易促进委员会最早设立的地方分会，将充分发挥七十年积累的丰富经贸资源与广泛网络，上海市国展集团将 全力投入全产业链会展组织能力，与中国机电一体化技术应用协会一起，共同为具身智能产业打造全方位、多层次、宽领域的国际展示与合作平台。 上海市国际展览（集团）有限公司副总裁蒋岚对项目情况进行深度披露，详细介绍了CIEI 2026组织架构、行业背景、展会概况及亮点 ...

Group 1 - The core viewpoint is that a genuine bull market in China is yet to begin, with signs of a recovery in the profit fundamentals [2] - The current market environment suggests that opportunities may arise from the easing of liquidity constraints, particularly in the Hong Kong stock market, which may see a rebound after a period of stagnation [2] - The focus for growth investments is shifting from technology-driven sectors to those benefiting from overseas expansion, with cyclical manufacturing sectors (such as non-ferrous metals, machinery, and chemicals) expected to become the mid-term mainline [2] Group 2 - The overall industry selection framework remains centered around resources, new productive forces, and overseas expansion, with resource stocks transitioning from cyclical to dividend attributes due to supply constraints and global geopolitical tensions [3] - The Chinese manufacturing sector's globalization is seen as a key driver for market capitalization growth, as it translates competitive advantages into pricing power and improved profit margins [3] Group 3 - Tactical analysis indicates that recent communications between the US and China suggest a stabilization of short-term risks, with a weak dollar and overseas interest rate cuts favoring China's monetary easing [5] - The market adjustment is viewed as an opportunity, with expectations that A/H share indices may reach new highs, supported by positive developments in the Chinese economy [5] Group 4 - The bull market is characterized by high turnover rates followed by periods of consolidation, with potential shifts in market style and sector leadership [7] - Financial sector allocations are expected to shift from banks to non-bank financials, as the latter may exhibit greater earnings elasticity in a rising bull market [7] Group 5 - The market is experiencing increased short-term speculation, with a continuation of a hot-spot rotation pattern, although the overall positive trend remains intact [10] - The focus on policy expectations is anticipated to lead to new investment opportunities, particularly as the upcoming political meetings may enhance market risk appetite [11] Group 6 - Investment opportunities are identified in sectors benefiting from the "anti-involution" trend, domestic consumption, and technological self-sufficiency, with a particular emphasis on AI, robotics, and semiconductor industries [12]

Core Insights - The integration of industrial internet and artificial intelligence (AI) is crucial for advancing new industrialization, providing methodologies and pathways for manufacturing transformation and upgrade [1][2][3] - Data is recognized as a vital asset in the digital transformation of industrial enterprises, with many companies beginning to explore data utilization despite concerns over sharing core data [2][3] Group 1: Industrial Internet and AI - Industrial internet serves as an important methodology for new industrialization, emphasizing the combination of technological and industrial revolutions [2] - The rapid development of AI has gained significant attention in the industry, with many traditional industrial internet platforms integrating AI for smart analysis and decision-making [2][3] - The goal is to develop "small, fast, light, and precise" products that align with the scene-based needs of enterprises [2] Group 2: Data Utilization and Concerns - Many industrial enterprises are exploring data "mining," but there are barriers due to reluctance in sharing core data, often limited to closed short chains [2][3] - To alleviate concerns, it is essential to establish a clear data rights framework and demonstrate the value of data flow to enterprises [3] - The development of technologies such as "data destruction after use" and trusted data spaces is being researched to ensure data security and prevent unauthorized duplication [3]

Core Viewpoint - The furniture and autonomous driving industries are experiencing significant growth in production, financing, and recruitment, leading to a highly competitive job market where skilled professionals are in high demand [1]. Group 1: Industry Trends - The industry is focusing on practical technologies, with companies competing to secure talent with relevant skills [1]. - The job market is described as "highly competitive," making it difficult for candidates to secure positions despite the availability of openings [1]. Group 2: Recommended Learning Communities - "Smart Driving Frontier" is a comprehensive media platform dedicated to the autonomous driving sector, providing technical insights and industry news [1]. - "Computer Vision Research Institute" focuses on AI research and practical applications, sharing the latest algorithms and project experiences [3]. - "Visual Language Navigation" aims to create a professional platform for navigation technologies, sharing technical insights and industry news [5]. - "Embodied Intelligence Research Lab" emphasizes core areas such as reinforcement learning and multi-agent collaboration, providing research updates and practical case studies [6]. - "Embodied Intelligence Heart" is the largest community for embodied intelligence, covering various technical directions and encouraging collaboration among developers [7]. - "arXiv Daily Academic Express" offers daily updates on academic papers across multiple fields, including AI and robotics, facilitating quick access to relevant research [8]. - "Autonomous Driving Heart" is a community for developers in the autonomous driving field, focusing on various technical aspects and job opportunities [10].