Core Insights - The company has established a joint venture, Dongguan Lingzhi Innovation Robot Technology Co., Ltd., with Zhiyuan, holding an 80% stake [2] - The joint venture will focus on the research, production assembly, and iterative optimization of industrial embodiment robot products, leveraging Zhiyuan's robot series for secondary development [2] - The company emphasizes the development of humanoid/embodiment robot business and aims to become a top 3 global manufacturer of embodiment intelligent hardware through a "three-in-one" strategy [2] Company Strategy - The joint venture will also explore new materials development, sensor design and iteration, battery and charging/swapping technology, and cooling solutions [2] - The company plans to establish a dedicated data collection center and build data assets to support its operations [2] - The long-term strategy includes a comprehensive layout across the entire industry chain of embodiment intelligent robots [2]

Core Viewpoint - The robotics sector is experiencing fluctuations, with the Guozheng Robotics Industry Index down by 2.6%. However, there is significant investment interest, as evidenced by a net subscription of 52 million units in the E Fund Robotics ETF (159530) [1] Company Developments - Lingyi Intelligent Manufacturing has established a joint venture with Zhiyuan to create Dongguan Lingzhi Innovation Robotics Technology Co., Ltd. This joint venture will focus on the R&D, production assembly, and iterative optimization of industrial embodiment robots [1] - The joint venture will also explore new materials development, sensor design and iteration, battery and charging technology, and cooling solutions, while planning to build a dedicated data collection center to construct data assets [1] Industry Outlook - Dongwu Securities predicts that humanoid robots will become the best carriers for AI, potentially ushering in a decade-long industrial cycle. By 2025, small-scale mass production of robots is expected to commence, with accelerated iteration and expansion of components, leading to a significant industry chain explosion by 2026 [1] - The Guozheng Robotics Industry Index focuses on humanoid robots and core components, with related stocks accounting for nearly 80% of the index weight. The "humanoid content" is the highest in the ETF tracking index [1] - The E Fund Robotics ETF (159530) has surpassed 12 billion yuan in scale, ranking first among products tracking this index, providing investors with a streamlined way to invest in the humanoid robotics industry chain [1]

Market Review - The Sci-Tech Innovation Artificial Intelligence ETF (589010) closed at 1.441 CNY, up 0.63%, showing a steady upward trend with a total trading volume of approximately 8.87 billion CNY, indicating active buying and good liquidity [1] - Among the constituent stocks, 26 rose while 4 fell, with notable gains from companies like Obsidian Technology, Fudan Microelectronics, and Cambricon, each increasing by 3%, highlighting strong performance in computing and AI chip sectors [1] - The Robot ETF (562500) rose by 2.38% to 1.033 CNY, maintaining a strong rebound trend with a trading volume of 14.97 billion CNY, reflecting active market participation [1] - In the Robot ETF, 69 out of 73 constituent stocks increased, with significant gains from companies such as Nanjing South Network Technology and Jiangsu Leili, each rising over 5% [1] Key Developments - Lingyi Technology announced the establishment of a joint venture, Dongguan Lingzhi Innovation Robot Technology Co., with a focus on the research, production, and optimization of industrial robots, holding an 80% stake [1] - Meta Platforms Inc. is investing over 1.5 billion USD in a new 1 GW data center to support its AI initiatives, with total capital expenditures for the year projected to reach 72 billion USD, including AI-related infrastructure projects [2] - The Hong Kong Monetary Authority and Hong Kong Cyberport Management Company announced the second phase of the Generative AI sandbox, inviting 27 use cases from 20 banks and 14 tech partners out of over 60 proposals [2] Institutional Insights - Dongwu Securities predicts that humanoid robots will become the best carriers for AI, potentially entering a significant industrial cycle over the next decade, with small-scale production expected to commence by 2025 and an acceleration of the overall industry chain by 2026 [2]

Market Review - The Sci-Tech Innovation Artificial Intelligence ETF (589010) closed at 1.441 CNY, up 0.63%, showing a steady upward trend with a total trading volume of approximately 8.87 billion CNY, indicating active buying and good liquidity [1] - Among the constituent stocks, 26 increased while 4 decreased, with notable gains from companies like Obsidian Technology, Fudan Microelectronics, and Cambricon, each rising by 3%, highlighting strong performance in computing and AI chip sectors [1] - The Robot ETF (562500) rose by 2.38% to 1.033 CNY, continuing its strong rebound with a trading volume of 14.97 billion CNY, reflecting active market participation [1] - In the Robot ETF, 69 out of 73 constituent stocks increased, with significant gains from companies such as Southern Network Technology and Jiangsu Leili, each rising over 5% [1] Hot News - Lingyi Technology announced the establishment of Dongguan Lingzhi Innovation Robot Technology Co., with an 80% stake, focusing on the R&D and production of industrial robots and planning to expand into new materials, sensors, and battery technologies [2] - Meta Platforms Inc. is investing over 1.5 billion USD in a new 1 GW data center to support its AI initiatives, with total capital expenditures for the year expected to reach 72 billion USD, including AI-related infrastructure [2] - The Hong Kong Monetary Authority and Hong Kong Cyberport announced the second phase of the Generative AI sandbox, inviting 27 use cases from 20 banks and 14 tech partners out of over 60 proposals [2] Institutional Views - Dongwu Securities predicts that humanoid robots will become the best carriers for AI, potentially entering a significant industrial cycle over the next decade, with small-scale production expected to begin by 2025 and rapid industry chain expansion anticipated by 2026 [3] Popular ETFs - The Robot ETF (562500) is the only ETF in the market with a scale exceeding 20 billion CNY, offering the best liquidity and comprehensive coverage of the Chinese robot industry [4] - The Sci-Tech Innovation Artificial Intelligence ETF (589010) is described as the "brain" of robotics, capturing the "singularity moment" in the AI industry with a 20% price fluctuation range and flexibility in small and mid-cap stocks [4]

消息方面，领益智造在互动平台表示，公司与智元合资成立了东莞领智创新机器人科技有限公司，公司 持股比例占80%。合资公司主要聚焦工业具身机器人产品研发、生产组装与迭代优化，基于智元机器人 系列本体方案二次开发。 （文章来源：每日经济新闻） 东方证券表示，内需求上升，人形机器人厂商持续提升技术为量产做准备。我们看到国内人形机器人快 速发展，优必选、智元、宇树等多家龙头公司获得亿元级别订单，天太机器人获得万台机人形机器人订 单，智元预期26年机器人出货量达数万台。此外，国内厂商也在大模型方面持续投入。我们认为国内机 器人厂商持续投入硬件和软件，有望在明年量产阶段实现正向循环。 今日截至13点18分，机器人ETF（562500）午后震荡走强，现报1.022元，涨1.29%。盘中重回红盘上 方，呈现"震荡上扬"形态，短线重心上移。成分股中，上涨61只、下跌9只，南网科技、中大力德、鸣 志电器涨幅超过4%；跌幅较大的弘讯科技、海得控制、信邦智能等跌幅有限，结构性分化明显。从盘 面特征看，机器人ETF（562500）早盘在昨日收盘价附近企稳，随后震荡抬升并持续向上试探，重心稳 步上移；成交持续放量显示换手充分。 机器人ET ...

Core Viewpoint - The company Lingyi Zhi Zao (002600) has established a joint venture with Zhi Yuan to focus on the development and production of industrial embodied robots, indicating a strategic move towards enhancing its capabilities in robotics technology [1] Group 1: Joint Venture Details - The joint venture, named Dongguan Lingzhi Innovation Robot Technology Co., Ltd., is 80% owned by Lingyi Zhi Zao [1] - The primary focus of the joint venture will be on the research and development, production assembly, and iterative optimization of industrial embodied robot products [1] Group 2: Future Development Plans - The joint venture plans to engage in secondary development based on the Zhi Yuan robot series [1] - Long-term plans include expanding into new materials development, sensor design and iteration, battery and charging/swapping technology, and cooling solutions [1] - The company will also establish a dedicated data collection center to build data assets [1]

Group 1 - The company has established a joint venture, Dongguan Lingzhi Innovation Robot Technology Co., Ltd., with Zhiyuan, holding an 80% stake [1] - The joint venture will focus on the research and development, production assembly, and iterative optimization of industrial embodied robot products, based on the secondary development of Zhiyuan's robot series [1] - The long-term strategy includes simultaneous development in new materials, sensor design and iteration, battery and charging/swapping technology, and cooling solutions, along with the establishment of a dedicated data collection center and the construction of data assets [1]

Market Overview - The three major indices showed a strong upward trend on September 29, with the Shenzhen Component Index and the ChiNext Index both rising over 2% [1] - The lithium battery sector experienced a surge, with over 10 stocks hitting the daily limit up, including Wanrun New Energy and Yicheng New Energy [1] Fund Flow Analysis - The net outflow of main funds in the Shanghai and Shenzhen markets was 3.385 billion yuan for the day [1] - Among 11 industries, non-bank financial and computer sectors saw the highest net inflows, amounting to 5.099 billion yuan and 1.256 billion yuan respectively [1] - Other sectors with net inflows exceeding 300 million yuan included power equipment, home appliances, automobiles, and steel [1] Individual Stock Performance - Five stocks received net inflows exceeding 1 billion yuan, with Lingyi Zhi Zao leading at 3.454 billion yuan [3] - Dongguan Lingzhi Innovation Robot Technology Co., Ltd. was established in partnership with Zhiyuan, focusing on industrial robot product development [1] - Dongfang Caifu followed with a net inflow of 2.981 billion yuan, benefiting from the surge in brokerage stocks [2] Net Outflow Rankings - The electronic industry had the highest net outflow, totaling 2.612 billion yuan, followed by communication, defense, and pharmaceutical sectors, each exceeding 1 billion yuan [1] - Leading stocks with significant net outflows included Xian Dao Intelligent and Woer Nuclear Materials, both exceeding 1 billion yuan [4][5] Tail-End Fund Flow - At the end of the trading day, the main funds saw a net inflow of 237 million yuan, with the computer, automotive, non-ferrous metals, electronics, and machinery sectors attracting over 100 million yuan each [6] - Individual stocks with notable tail-end inflows included Sanhua Intelligent Control and Beifang Huachuang, each exceeding 100 million yuan [7] Summary of Key Stocks - The top five stocks with net inflows included: - Lingyi Zhi Zao: 3.454 billion yuan - Dongfang Caifu: 2.981 billion yuan - Shanzi Gaoke: 1.419 billion yuan - Zhinanzhen: 1.207 billion yuan - Yihua Zhikong: 1.040 billion yuan [3] - Conversely, the top five stocks with net outflows included: - Xian Dao Intelligent: 1.531 billion yuan - Woer Nuclear Materials: 1.027 billion yuan - He Er Tai: 0.953 billion yuan - Haiguang Information: 0.596 billion yuan - Zhongji Xuchuang: 0.438 billion yuan [5][9]

Group 1 - The company has established a joint venture with Zhiyuan Robotics, named Dongguan Lingzhi Innovation Robotics Technology Co., Ltd, focusing on the development, production assembly, and iterative optimization of industrial embodied robot products [2] - The joint venture will leverage Zhiyuan Robotics' core solutions for secondary development and will also explore new materials development, sensor design and iteration, battery and charging/swapping technology, and cooling solutions in the long term [2] - The company plans to set up a dedicated data collection center and build data assets as part of its strategic initiatives in the robotics sector [2]

Core Insights - The company has established a joint venture with Zhiyuan to focus on the research, production, and optimization of industrial embodied robots [1] - The company aims to enhance its capabilities in new materials, sensor design, battery technology, and data asset construction [1][4] - The company has launched a "trinity" development strategy for its robotics business, emphasizing core component R&D, comprehensive hardware services, and application scenario development [3][5] Company Developments - The company has accelerated its ecosystem cooperation, forming strategic partnerships with various tech firms to enhance its robotics capabilities [4] - The company has developed a strong core technology capability in the robotics field, offering a wide range of products from core components to complete hardware ODM services [4] - The company has received multiple invention patents for its self-developed cycloidal pinwheel reducer in China, the US, and Japan [4] Strategic Goals - The company is working towards becoming one of the top three manufacturers of embodied intelligent hardware globally [5] - The company plans to create a "technical training school" for embodied robots to enhance its closed-loop capability in technology and scene definition [4][5] - The company is focused on integrating its data accumulation and intelligent manufacturing advantages to drive innovation in the robotics industry [4]