今年6月，市场监管总局专门印发《关于推进实施跨区域质量强链联动项目的通知》，部署开展实 施跨区域质量强链联动项目。项目启动实施以来，各项目牵头省（区、市）市场监管部门主动担当作 为，协调有关地方市场监管部门"一链一策"共同研究制定跨区域联动方案，建立关键共性质量问题攻关 清单，细化重点举措、任务分工、进度安排。 记者从市场监管总局了解到，近日，市场监管总局在湖北省武汉市召开的全国质量强链经验交流现 场推进会上正式发布首批21个跨区域质量强链联动项目，27个省（区、市）市场监管部门参与，旨在创 新区域质量合作互助机制，推进产业链供应链跨区域分工协作，加强质量支撑，提升产业链韧性和安全 水平，助力破解"内卷式"竞争。 据了解，本次发布的21个跨区域质量强链联动项目既包括机器人、脑机接口、低空经济、商业航天 等新兴和未来产业链，也涉及纺织服装、工程机械、煤化工等传统产业链。其中，光伏、锂电池等产业 链面临较大的"内卷式"竞争压力，联动项目行动方案提出发挥质量支撑和标准引领作用，通过区域合作 营造共创共享共赢的产业新生态；家庭装饰装修材料、羽绒生产加工、富硒等产业链事关民生福祉和提 振消费，联动项目行动方案提出质量分 ...

据证券之星公开数据整理，近期亿嘉和（603666）发布2025年中报。截至本报告期末，公司营业总收入 2.68亿元，同比上升88.8%，归母净利润-1978.74万元，同比上升76.73%。按单季度数据看，第二季度营 业总收入1.4亿元，同比上升37.95%，第二季度归母净利润-2730.36万元，同比上升46.01%。本报告期亿 嘉和公司应收账款体量较大，当期应收账款占最新年报营业总收入比达118.54%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率40.42%，同比减1.79%，净利率-7.35%，同比增 88.12%，销售费用、管理费用、财务费用总计7348.17万元，三费占营收比27.44%，同比减57.93%，每 股净资产10.36元，同比减6.67%，每股经营性现金流-0.09元，同比减157.33%，每股收益-0.1元，同比 增77.14% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 1.42亿 | 2.68 亿 | 88.80% | | 归母净利润（元） | -8503.41万 | -1 ...

8月26日主力资金净流出2514.60万元，占流通市值0.36%。近五日主力资金净流入7481.28万元，占流通 市值1.06%。 风险提示：股市有风险，投资需谨慎。 根据公司披露的2025年半年报，上半年实现营业收入5.81亿元，同比增长0.28%；归属上市公司股东的 净利润7849.57万元，同比增长10.87%。其中覆合类产品营收1.62亿元，同比增长133.81%。 东港股份8月26日股价报13.45元，较前一交易日下跌0.30元，跌幅2.18%。当日成交量为276714手，成 交额3.75亿元。 东港股份主营业务包括票据印刷、覆合类产品、技术服务等。公司研发的机器人产品已覆盖政务、工 会、办公、教育等多个领域。 ...

8月26日晚间，中科创达（300496）发布2025年半年报。公司上半年实现营业收入32.99亿元，同比增长 37.44%；归属于上市公司股东的净利润为1.58亿元，同比增长51.84%。 从营收区域分布来看，国内外市场呈现差异化增长态势。其中，来自于中国的营业收入17.42亿元，较 上年增长12.96%；来自于欧美、日本等海外国家或地区的营业收入15.58亿元，较上年增长81.41%。 中科创达是一家领先的智能操作系统及端侧智能产品和技术提供商，以智能操作系统技术为核心，聚焦 端侧人工智能产品和应用领域，为产业界提供"IP+服务+解决方案"的三位一体的软件产品和方案。 整车系统方面，通过端侧AI算力筑基实现整车系统智能飞跃。2025年4月在上海车展2025上，公司发布 面向中央计算的AI原生整车操作系统——滴水OS1.0Evo，标志着公司推动整车操作系统迈入全面AI化 新时代。 滴水OS1.0Evo通过深度融合AI大模型技术，赋予汽车自主交互决策能力，实现从出行工具到智能伙伴 的质变；在中央计算层面，系统采用舱驾融合+ZCU虚拟化平台支持多域融合与算力高效调度，为整车 智能化奠定技术底座；在全球化布局中，公 ...

Core Insights - RoboSense reported a revenue of 455 million yuan for Q2 2025, marking a year-on-year increase of 24.4% and a quarter-on-quarter increase of 38.9% [1] - The sales volume of robotic products reached 34,400 units, showing a significant year-on-year growth of 631.9% [1] - The company's gross profit margin improved from 12.3% in Q1 2024 to 27.7% in Q2 2025, reflecting a continuous increase for six consecutive quarters [1] - Following the earnings report, RoboSense's stock price surged over 8% at the opening of the Hong Kong stock market on August 22 [1]

Group 1: Monetary Policy and Market Trends - The second quarter monetary policy report emphasizes a focus on domestic demand, with a shift towards supporting technology innovation and consumption [3] - The bond market is expected to remain volatile in the short term due to cautious monetary policy and a relatively active fiscal policy [3][4] Group 2: Company Performance and Industry Insights - Today International's H1 2025 revenue decreased by 14.36% to 1.412 billion yuan, with a net profit decline of 22.53% [6][7] - The company signed new orders worth 2.14 billion yuan, a year-on-year increase of 101.2%, driven by the renewable energy sector [7] - Wei Long's H1 2025 revenue increased by 18.5% to 3.483 billion yuan, with a net profit growth of 18% [10][11] - The company’s gross margin decreased to 47.2% due to rising raw material costs, but internal cost reduction measures helped maintain profitability [13] - Shenhuo Co. reported a 12.1% increase in revenue to 20.43 billion yuan in H1 2025, despite a 16.6% decline in net profit [15][16] - The company’s aluminum production increased by 16.2% to 871,000 tons, benefiting from lower alumina prices [16] - Yanghe Co. experienced a significant revenue drop of 35.32% to 14.796 billion yuan in H1 2025, attributed to industry-wide challenges [19][20] - The company’s sales expenses increased, impacting profitability, with a net profit margin of 18.84% [21] - Dongfang Cable's H1 2025 revenue grew by 9.0% to 4.432 billion yuan, but net profit fell by 26.6% [23][24] - The company has a record high backlog of orders, indicating strong future revenue potential [25] - Weilon Co. announced a stock incentive plan to boost long-term growth, with a target revenue increase of 11%-14% from 2025 to 2027 [28][29] - Haichuang Pharmaceutical's first product, Deuteroenzalutamide, has been commercialized, contributing 13.07 million yuan in revenue in Q2 2025 [32][33]

2025 年 08 月 19 日 公司研究 评级：买入(首次覆盖) | 研究所： | | | | --- | --- | --- | | 证券分析师： | | 刘熹 S0350523040001 | | | | liux10@ghzq.com.cn | | 联系人 | ： | 谭宸 S0350124070009 | | | | tanc@ghzq.com.cn | [Table_Title] 2025H1 新增订单同比翻倍，看好智慧物流产业 景气向上 ——今天国际（300532）2025 年半年报点评 最近一年走势 | 相对沪深 | 300 | 表现 | | | 2025/08/18 | | --- | --- | --- | --- | --- | --- | | 表现 | | | 1M | 3M | 12M | | 今天国际 | | | 5.4% | 13.7% | 60.3% | | 沪深 300 | | | 4.5% | 9.0% | 26.7% | | 市场数据 | 2025/08/18 | | --- | --- | | 当前价格（元） | 12.92 | | 周价格区间（元） 52 | 9.09 ...

Core Insights - The company specializes in providing automated logistics system solutions, with the highest revenue contribution from system integration solutions at 65.88% and robot products at 19.91% [3] Financial Performance - In 2016, the company achieved a net profit attributable to shareholders of 0.55 million yuan, which increased to 2.76 million yuan by 2024, marking a cumulative growth of 405.91% over nine years [3] - The company has not reported a loss in any year since its listing, with net profit growth occurring in 6 out of 9 years, representing 66.67% of the time [3] - Revenue grew from 930 million yuan in 2020 to 2.367 billion yuan in 2024, although a decline was noted in 2024 after high growth in 2021 and 2022 [3] - Net profit rose from 60 million yuan in 2020 to 276 million yuan in 2024, with significant improvement in profitability in 2022, followed by a decline in 2024 [4] Market Valuation - Since its listing, the company's market value has increased by 1.91 times, peaking at 9.736 billion yuan on November 28, 2016, with a corresponding stock price of 115.9 yuan [6] - As of August 15, the stock price was 12.68 yuan, resulting in a market value of 5.748 billion yuan, reflecting a decrease of 3.987 billion yuan from its peak, equating to a 40.96% market value evaporation [6]

图为参展商通过直播推介产品。中新社记者 陈楚红 摄 图为一机器人产品展位吸引参会人员参观咨询。中新社记者 陈楚红 摄 图为泡芙潮玩产业联盟展示的潮玩。中新社记者 陈楚红 摄 8月15日，2025中国（广州）跨境电商交易会在广州市广交会展馆A区举办。本次交易会以"外贸新动能· 数字新未来"为主题，吸引了1000多家优质供应链企业，42家跨境电商平台参展。图为展会现场人流如 织。中新社记者 陈楚红 摄 图为亚马逊全球开店展位吸引参会人员咨询。中新社记者 陈楚红 摄 ...

Core Viewpoint - The narrative of AI entrepreneurship is undergoing a fundamental shift in 2024, moving from a focus on technology spectacle and capital frenzy to the practical application of AI in various industries, with a new wave of "AI-native" companies emerging that leverage large models as foundational elements for their businesses [1][2]. Group 1: Characteristics of Emerging AI Companies - These AI startups, despite their diverse business models, share a commonality in building their digital foundations on Baidu Smart Cloud, indicating a growing industry consensus among leading AI companies [2]. - The business logic of these companies is entirely based on the capabilities of large models, positioning AI as the core driver of their products rather than a mere add-on [4]. - They focus on specific vertical scenarios instead of attempting to create universal models, aiming for an exceptional user experience [4]. - The cycle from product validation (MVP) to commercialization has been significantly shortened, making rapid iteration essential for survival in a competitive market [4]. Group 2: Redefining the Role of Cloud Providers - In the AI-native era, the role of cloud providers is being re-evaluated; startups now seek partners who can deeply engage in their growth rather than just provide computing power and storage [5]. - The classic "impossible triangle" of technology depth, iteration speed, and cost control presents a core contradiction in AI entrepreneurship, serving as a test for the value of cloud platforms [5][6]. - Startups must build deep technical barriers in specific verticals, necessitating a stable, open, and full-stack AI infrastructure to focus on core business scenarios and algorithm innovation [5][6]. Group 3: Baidu Smart Cloud's Value Proposition - Baidu Smart Cloud aims to help AI startups navigate the "impossible triangle" by offering a comprehensive solution that includes full-stack technology, efficient toolchains, and a lean cost philosophy [7]. - The "AI Investment Acceleration Plan" launched by Baidu Smart Cloud provides extensive support for promising AI startups, including substantial computing subsidies and dedicated financing channels [9][10]. - The plan has already helped 20 AI startups secure over 100 million in funding, demonstrating Baidu Smart Cloud's commitment to providing not just technology but a validated growth methodology [10]. Group 4: Growth Pathways for AI Startups - Baidu Smart Cloud outlines a "three-step leap" growth path for AI startups: 1. Product validation phase (MVP) focuses on rapid idea testing with support for initial costs and technical barriers [11]. 2. Scene validation phase (PMF) involves deepening into 1-2 vertical scenarios to create benchmark cases with the help of industry model libraries [11]. 3. Ecosystem expansion phase (Scale-up) connects startups with broader channels and resources to facilitate rapid scaling [11][12]. Group 5: Case Studies of AI Startups - The seven companies analyzed reflect how Baidu Smart Cloud transforms abstract technology and resources into commercial momentum across different industries [13]. - Companies like XinYingSuiXing and Kotoko are leveraging AI to enhance emotional engagement in social gaming, supported by Baidu Smart Cloud's low-latency AI capabilities [14][15]. - LiWeiKe and LingShengKeJi are integrating AI into hardware and embodied intelligence, utilizing Baidu Smart Cloud's multi-modal solutions for real-time applications [16]. - FilmAction and VAST are revolutionizing content production with AI, achieving significant efficiency gains through Baidu Smart Cloud's high-performance infrastructure [17]. - ShuXinKeJi is reconstructing brand DTC platforms with a comprehensive collaboration with Baidu Smart Cloud, enhancing its AI capabilities across various business functions [18]. Group 6: Ecosystem Selection in AI Entrepreneurship - AI startups are increasingly choosing cloud providers based on the ecosystem they offer rather than just individual technologies, emphasizing the importance of a supportive environment for growth [19][20]. - The ideal ecosystem must include a solid technical foundation, a clear growth path, and an open resource system to help startups effectively control costs and amplify value [20].