Core Insights - Shenzhen has cultivated a large number of high-quality listed companies over the past 45 years, which are seen as the "power source" and "ballast" of the national economy [1] - The story of YingShi Innovation, which became the global leader in panoramic cameras, exemplifies the rapid growth and innovation characteristic of Shenzhen companies [2] - Shenzhen's listed companies have shown resilience and vitality, with a significant increase in the number of A-share listed companies [2] Group 1: Company Growth and Market Position - YingShi Innovation achieved a global market share of over 50% in the panoramic camera sector, with more than 70% of its revenue coming from overseas markets [2] - Bawei Storage has seen its revenue and net profit grow approximately threefold and fivefold, respectively, from 2020 to 2024 [3] - Shenzhen's listed companies are projected to have a combined overseas business revenue of 11.4 trillion yuan in 2024, reflecting a year-on-year growth of 15.9% [3] Group 2: Industry Leadership and Innovation - Shenzhen is recognized as the "first city of new energy vehicles" in China, with BYD achieving a milestone of producing its 13 millionth vehicle [5] - The city is also leading in the low-altitude economy, with over 2,300 companies in this sector and significant advancements in eVTOL technology [6] - In the field of embodied intelligence, Shenzhen has the largest number of robot companies in the country, with 74,032 enterprises in the robotics industry [6] Group 3: Financial Sector and Capital Support - The financial sector in Shenzhen is growing, with a projected value added of 471.05 billion yuan in 2024, accounting for approximately 12.8% of GDP [7] - Shenzhen's capital market has supported 11 companies in going public in 2024, raising 9.392 billion yuan, leading the nation in both the number of IPOs and fundraising [8] - The concept of "patient capital" has been emphasized in Shenzhen's government reports, highlighting the importance of long-term investment in supporting emerging industries [9] Group 4: Economic Performance - Shenzhen's GDP is projected to reach 3.68 trillion yuan in 2024, with a year-on-year growth of 5.8% [10] - The city achieved a GDP of 1.83 trillion yuan in the first half of 2025, reflecting a growth of 5.1% [10]

大海波涛之上，海燕高声鸣叫，似闪电般矫健飞翔，经风雨弥坚，战狂澜愈勇。 作为最活跃的经济细胞，上市公司是国民经济的"动力源"和"压舱石"。同时，上市公司信息披露透明完 备，也是观察城市发展轨迹的绝佳窗口。 今天是深圳经济特区45岁生日。45年来，深圳培育了一大批优质上市公司，他们敢闯敢试敢创，像翱翔 在海天之间的海燕，搏击风浪，走在时代前列。 ● 本报记者 彭勇 黄灵灵 齐金钊 张韵 压力之下逆势而上 今年4月，一款中国全景相机在美国纽约热销，有人凌晨三点开始排队，只为抢购影石创新的新品，这 让很多美国消费者改变了中国制造"低价内卷"的刻板印象。 影石创新创立于2015年。彼时，全球全景相机市场被日本理光、美国GoPro等巨头垄断。影石创新"硬 磕"AI影像处理、防抖算法等技术，迅速逆袭成全景相机全球销冠。 产品全球市占率第一、年均毛利率超50%、海外市场贡献超70%的营收……短短十年，影石创新用高速 成长演绎出新时代的"深圳速度"。"如果不是在深圳，这一切可能不会发生。"影石创新创始人兼董事长 刘靖康说，公司做智能硬件创新，离不开深圳超强的产业链和人才链。 今年6月，影石创新登陆科创板，目前市值突破1100 ...

Group 1 - The 2025 World Robot Conference is held in Beijing from August 8 to 12, with the theme "Making Robots Smarter and Bodies More Intelligent" [1] - Over 200 domestic and international robot companies showcased more than 1,500 exhibits, with a record 50 humanoid robot manufacturers participating [1] - The exhibition area exceeded 50,000 square meters for the first time, featuring over 100 new products including humanoid robots, quadruped robots, rescue robots, and collaborative robots [1] Group 2 - More than 20 Shenzhen robot companies presented cutting-edge achievements related to industrial operations, commercial services, and home companionship [2] - Shenzhen Leju's 5G-A humanoid robot "Kua Fu" demonstrated various tasks including outdoor delivery and industrial handling at the event [2] - Shenzhen Luming Robotics introduced LUS2, the world's first full-size humanoid robot capable of "1-second ejection," targeting the research and education market [2]

Core Insights - The commercialization narrative of humanoid robots is being driven by record-high order amounts, with a recent procurement project by UBTECH Robotics reaching 90.51 million yuan, setting a new global record for single orders in the humanoid robot sector [2][8] - The entry of state-owned enterprises as buyers is shaping the landscape of humanoid robot procurement, indicating a strategic investment approach rather than a focus on short-term financial returns [3][4] Group 1: Market Dynamics - The buyer for the record-setting order, Miyi (Shanghai) Automotive Technology Co., is a state-owned enterprise involved in automotive export trade, highlighting the trend of state-owned entities participating in the humanoid robot market [3][4] - The involvement of state-owned enterprises is seen as a way to leverage large-scale application scenarios for testing and iterating humanoid robots, which can catalyze the maturity and cost reduction of the domestic robot supply chain [4][8] Group 2: Industry Developments - UBTECH has previously engaged with multiple automotive companies, including a contract with Dongfeng Liuzhou Motor for 20 humanoid robots for key positions in automotive assembly [5][7] - The Shenzhen robotics industry is experiencing a surge, with the total output value of its robotics industry projected to exceed 200 billion yuan by 2024, indicating a robust market environment [6][8] Group 3: Challenges and Opportunities - Despite the excitement surrounding large orders, the actual economic benefits of these orders may still be limited, as the industry is in a nascent stage where the usability and return on investment of these robots remain uncertain [6][7] - UBTECH's recent advancements include the Walker S2 robot, which features a pioneering "hot-swappable autonomous battery replacement system," aimed at addressing continuous operation needs in industrial settings [6][7] - The company faces challenges in balancing high-cost strategic orders with competitive pricing, as its humanoid robots have historically been priced significantly higher than competitors, which could impact its market position [7][8]

Core Viewpoint - UBTECH Robotics, known as the "first humanoid robot stock," has secured a significant contract worth 90.51 million yuan for robot equipment procurement from Miyi (Shanghai) Automotive Technology Co., Ltd. [3] Group 1: Contract and Market Position - UBTECH has won a procurement project for humanoid robots from Miyi Automotive, with a project amount of 90.51 million yuan [3] - The company aims to produce approximately 1,000 humanoid robots this year, focusing on real-world applications to gather more data [3] Group 2: Product Development and Innovation - The new generation industrial humanoid robot, Walker S2, has achieved a breakthrough with its autonomous battery swapping capability, allowing it to change batteries in 3 minutes without human intervention [6] - This technology enhances continuous operation and reduces maintenance costs, thereby improving overall production efficiency [6] - In the education and research sector, UBTECH has received orders for over 100 units of its Tian Gong Xing Zhe humanoid robots, with expectations to deliver more than 300 units this year [6] Group 3: Strategic Partnerships and Expansion - UBTECH has partnered with the Beijing Humanoid Robot Innovation Center to launch a full-size research and education humanoid robot, aimed at universities and research institutions [6]

Group 1 - The first ocean-level intelligent comprehensive scientific research vessel "Tongji" has been delivered, designed and built in China, featuring a 2000-ton capacity and multiple functionalities including marine geological, chemical, and biological research [1] - UBTECH's Tian Gong Walker robots have received over 100 orders, with expectations to deliver more than 300 units this year, indicating strong demand in the education and research sectors [2] - The first green hydrogen EPC project in Central Asia has successfully produced hydrogen, marking a significant breakthrough in large-scale industrial green hydrogen production [3] - The first phase of China's initial gravitational wave detection experiment has been completed, achieving its first light observation, which is a key step in the field of gravitational wave detection [4]

Group 1 - The core viewpoint of the report highlights the commercialization progress of humanoid robots driven by technological upgrades and product iterations, exemplified by the launch of exoskeleton robots in the Taishan scenic area and the signing of a small-scale humanoid robot procurement contract by UBTECH [1][3][4] Group 2 - The Taishan scenic area has introduced exoskeleton robots for visitors, allowing them to rent the device for 80 yuan for three hours, which assists in walking and monitors health conditions, featuring emergency call and tour guide functions [3] - The exoskeleton robot weighs 1.2 kg, made of carbon fiber, can withstand a pulling force of 200 kg, and has an 8-hour battery life, saving users 30% to 50% of their physical effort [3] - UBTECH has signed a global first small-scale procurement contract for humanoid robots, involving the Walker S1 and Walker C models, aimed at applications in automotive manufacturing and commercial reception [3] - The contract signifies a substantial step towards the commercialization of humanoid robots in industrial manufacturing scenarios [3] - Apple has restructured its robotics team, moving it under the hardware engineering division, which may enhance the integration of hardware and software in robot development [4]

Group 1: Core Insights - The 27th China Beijing International Science and Technology Industry Expo showcased over 1,200 cutting-edge technologies and scientific achievements from more than 800 domestic and international enterprises, with over 600 new technology products launched and a total project signing amount exceeding 5.8 billion yuan [2][3] - Innovations in the renewable energy sector included a comprehensive energy system integrating wind, solar, and hydrogen storage, which aims to efficiently utilize clean energy resources [2] - The event highlighted advancements in intelligent robotics, such as the world's first AI+ROBOT orthopedic surgery robot, which reduces surgery time from 2 hours to 30 minutes, and multifunctional AI wall-climbing robots that mitigate high-altitude work risks [2][3] Group 2: Industry Collaboration and Development - The expo served as a platform for international cooperation, featuring major global companies like AstraZeneca and Sanofi, which presented their latest technologies and collaborative achievements [3] - Over 30 trade and investment promotion activities were held, facilitating practical cooperation and exchanges among more than 300 domestic and foreign enterprises [3] - The event also included initiatives aimed at promoting the coordinated development of trade and investment in the Beijing-Tianjin-Hebei region, with various activities designed to enhance technology sharing and market connections in sectors like renewable energy and intelligent manufacturing [3][4]

Group 1 - Huawei and Ubtech signed a comprehensive cooperation agreement focusing on embodied intelligence and humanoid robots, aiming to innovate in product technology development, application scenarios, and industrial systems [2] - The collaboration will leverage Huawei's technological capabilities in Ascend, Kunpeng, Huawei Cloud, and large models, combined with Ubtech's full-stack humanoid robot technology to enhance efficiency and scalability in industrial and household applications [2] - The partnership includes the establishment of an embodied intelligence innovation center and the development of a "humanoid robot + smart factory" demonstration project [2] Group 2 - Ubtech has signed a procurement contract for large-scale humanoid robots, marking the first small-batch humanoid robot procurement contract globally, which will be used in automotive manufacturing and commercial reception [3] - This contract signifies a solid step towards the commercialization of embodied intelligent robots in industrial manufacturing scenarios, particularly in automotive factories [3] - The Shenzhen Robotics Industry Development White Paper projects the total output value of Shenzhen's robot industry to reach 201.2 billion yuan in 2024, reflecting a year-on-year growth of 12.58% [3] Group 3 - Huawei is actively participating in the humanoid robot sector, having previously showcased the Pangu large model 5.0 and the Leju Kuafu humanoid robot, highlighting their potential in various applications [4] - Huawei's investment platform, Hubble Technology, has invested in companies focused on embodied intelligent robots and industrial software, expanding its strategic footprint in AI and high-end manufacturing [4] Group 4 - CITIC Securities predicts that 2025 will be the year of mass production for embodied intelligent robots, marking a significant integration of AI and robotics, which is expected to drive a new industrial revolution [5] - The development of embodied intelligent robots represents a critical point in technology and commercialization, serving as a core driver for global manufacturing upgrades and social governance changes [5] - Huawei's extensive technical expertise and market resources position it to enhance the product technology and market reach of robot companies, accelerating their development and commercialization processes [5]

Core Viewpoint - Huawei and UBTECH Technology have signed a comprehensive cooperation agreement to innovate in the fields of embodied intelligence and humanoid robots, focusing on product technology development, application scenarios, and industrial systems [1][2]. Group 1: Cooperation Agreement - The partnership aims to leverage Huawei's technological capabilities, including Ascend, Kunpeng, Huawei Cloud, and large models, alongside UBTECH's full-stack humanoid robot technology to enhance efficiency and implementation in industrial and household scenarios [1]. - Huawei will support UBTECH in building an embodied intelligence innovation center and develop a "humanoid robot + smart factory" joint demonstration plan [1]. Group 2: Market Developments - UBTECH has signed a procurement contract for large-scale biped humanoid robots, marking the first global small-batch humanoid robot procurement contract, which will be used in automotive manufacturing and commercial reception [2]. - The implementation of this contract signifies a solid step towards the commercialization of embodied intelligent robots in industrial manufacturing scenarios [2]. Group 3: Industry Insights - According to CITIC Securities, 2025 is expected to be the year of mass production for embodied intelligent robots, indicating a deep integration of AI and robotics, which will drive a new industrial revolution [4]. - The development of embodied intelligent robots is seen as a core driver for global manufacturing upgrades and social governance changes, with Huawei positioned as a leading technology company to enhance product technology and market channels for these robots [4].