Summary of Conference Call Records Industry Overview - **Industry**: High-speed optical modules and humanoid robots - **Key Players**: Nvidia, NewEase, Shijia Photon, Songyan Power, Xinjie Electric, and others High-speed Optical Modules - Nvidia has open-sourced multiple code reasoning models, which are expected to accelerate the development of high-speed optical modules. The company has successfully launched the latest 800G/1.6T optical module products based on single-wave 200G optical devices [1] - The optical module industry is entering a period of technological iteration and demand restructuring. The 800G remains the mainstream product, while the mass production cycle for 1.6T is longer than expected. Short-term, CPO is unlikely to replace pluggable solutions, and the passive device market is undergoing a value reassessment [2] - Shijia Photon’s CWDMAWG and LANWDMAWG components are widely used in global mainstream optical module companies, holding a major position in the supply of components for 100G to 800G high-speed optical modules. Products for 400G, 800G, and 1.6T MT-FA are in various stages of application and customer validation [2] - NewEase has successfully developed the latest 800G/1.6T optical module products, with a product portfolio that includes VCSEL/EML, silicon photonics, and thin-film lithium niobate technology solutions [2] Humanoid Robots - Songyan Power has launched a new generation of humanoid robots with a female appearance, featuring multi-modal embodied interaction and high degrees of freedom (32 DOF). The robot supports customizable settings and interfaces, allowing for personalized makeup [3] - The global humanoid robot industry is projected to reach $32.4 billion by 2029. The production rhythm of Tesla's humanoid robot, Optimus, is becoming clearer, and the continuous layout by major players (Nvidia, Huawei, etc.) is expected to accelerate the industry's deployment [3] - Xinjie Electric is actively developing components for humanoid robots, including hollow-wound motors and frame-less torque motors, and is planning production lines for these technologies [4] - Shuanglin Co. has engaged with a leading domestic new energy vehicle company to develop a reverse planetary roller screw project for humanoid robots, with the first batch of samples delivered in April 2025 [4] Market Trends - The market has seen a reduction in trading volume compared to the previous trading day, with a decrease in the number of stocks with a trading volume exceeding 1 billion. The sectors of chips, robots, and Huawei concepts have seen a decline in the number of stocks [9] - The market is experiencing a mixed trend, with over 4,000 stocks declining. However, bank stocks have shown strength, and the ST sector remains active [9] Company News - Huina Technology is undergoing a change in its controlling shareholder, with stock resuming trading next week [14] - Longsys Technology has signed contracts worth over 5 billion yuan for lithium iron phosphate cathode materials [14] - Furi Electronics is providing ODM/JDM services for Huawei's smart devices [14] - Xinhongye has established a subsidiary focused on developing cables for humanoid robots and low-altitude aircraft [14] Conclusion - The high-speed optical module and humanoid robot industries are poised for significant growth, driven by technological advancements and increasing demand. Companies are actively developing new products and forming strategic partnerships to capitalize on these trends.

Summary of Conference Call Records Industry Overview - **Industry**: Optical Modules and Humanoid Robots - **Key Players**: Nvidia, Shijia Photon, Xinyi Technology, Songyan Power, Xin Yi Sheng, Xinjie Electric, and others Key Points on Optical Modules - Nvidia has open-sourced multiple code reasoning models, which are expected to accelerate the development of high-speed optical modules. The company has successfully launched the latest 800G/1.6T optical module products based on single-wave 200G optical devices [1] - The optical module industry is entering a phase of technological selection and demand restructuring. The 800G remains the mainstream product, while the 1.6T production cycle is longer than expected. CPO is unlikely to replace pluggable solutions in the short term, and the passive device market is undergoing a value reassessment [2] - Shijia Photon’s CWDMAWG and LANWDMAWG components are widely used in major global optical module companies, holding a significant position in the supply of components for 100G to 800G high-speed optical modules. Products for 400G, 800G, and 1.6T MT-FA are in various stages of application and customer validation [2] - New Yi Sheng has launched the latest 800G/1.6T optical module products based on single-wave 200G optical devices, with a product portfolio that includes VCSEL/EML, silicon photonics, and thin-film lithium niobate technology solutions [2] Key Points on Humanoid Robots - Songyan Power has released a new generation of humanoid robots with a female appearance, featuring multi-modal embodied interaction, high degrees of freedom (32 DOF), and near-human facial expressions. The company has already surpassed 1,000 units in orders for its N2 robot [3] - The global humanoid robot industry is expected to reach a scale of $32.4 billion by 2029. Institutions predict that Tesla's humanoid robot, Optimus, will gradually clarify its mass production rhythm, alongside continuous layouts from major players like Nvidia, Huawei, and others, indicating a potential acceleration in the humanoid robot industry [3] - Xinjie Electric is actively developing components for humanoid robots, including hollow cup motors and frameless torque motors, and is planning production lines for these technologies. The company has successfully developed a ball screw product for humanoid robot dexterous hands and is in the process of customer validation [4] Additional Insights - The optical module industry is experiencing a return to a 2-3 year iteration rhythm for industry chain upgrades, and the secondary market should rationally view technological evolution and performance realization [2] - The humanoid robot sector is seen as a significant opportunity for industrial upgrades, with expectations for explosive growth starting in 2025 [3] - The market has shown a mixed performance, with a decrease in the number of stocks exceeding 1 billion in trading volume, particularly in the chip and robot sectors [9] Conclusion - The optical module and humanoid robot industries are poised for significant growth driven by technological advancements and increasing demand. Key players are actively innovating and expanding their product offerings, indicating a robust market outlook.

Group 1 - The core viewpoint of the article highlights the rapid advancements in robotics and AI technology, emphasizing the competitive landscape in these sectors [1][2] - Songyan Power has launched a new generation of female bionic robot, Xiaono, featuring multimodal interaction, high degrees of freedom, and near-human facial expressions, indicating a trend towards personalization in robotics [1] - Lenovo has introduced the world's first enterprise super-intelligent agent, LeXiang, marking a significant milestone in AI-driven enterprise innovation and signaling a shift towards smarter and more efficient business operations [2] Group 2 - In the legal domain, Innoscience has achieved a victory in its patent lawsuit against Infineon, with the Supreme People's Court confirming the jurisdiction of the Suzhou Intermediate People's Court, underscoring the importance of intellectual property protection in fostering technological innovation [3] - The ruling emphasizes that companies must focus not only on R&D and innovation but also on the strategic management of intellectual property to create a conducive environment for sustainable industry development [3]

Group 1: Economic Indicators - In April 2025, the national consumer price index (CPI) decreased by 0.1% year-on-year, with urban prices remaining stable and rural prices declining by 0.3% [1] - The industrial producer price index (PPI) fell by 2.7% year-on-year in April 2025, with a month-on-month decrease of 0.4% [2] Group 2: Technology and Innovation - Songyan Power introduced a new generation of female bionic robot named "Xiao Nuo," featuring high degrees of freedom and near-human facial expressions, with over 1,000 units already pre-ordered [3] - China's first intelligent inspection robot for freight railways has been deployed, achieving over 98% accuracy in fault identification and 100% recognition of common faults [5] Group 3: Corporate Strategies - Alibaba's core strategic directions are focused on "e-commerce and cloud + AI," with plans to integrate AI into all business segments over the next three to five years [4] - Apple is expected to launch its first foldable iPhone in the second half of 2026, with key components already sent for testing [6][7] Group 4: Automotive Market Trends - The price reduction in new cars has been relatively moderate in 2025, with a focus on enhancing the cost-performance ratio rather than significant price cuts [8] Group 5: Scientific Advancements - Chinese scientists have achieved high-resolution imaging of targets 1.36 kilometers away using active optical intensity interference technology, improving resolution by approximately 14 times compared to traditional methods [9] Group 6: International Trade Relations - China's stance on maintaining international economic and trade order remains firm, emphasizing the need for mutual respect and equal negotiation in resolving trade disputes with the U.S. [10]