昨日（11月25日），A股三大指数集体收涨，科技板块持续回暖，机器人、电子赛道纷纷走强。 热门指数中，中证机器人指数昨日收涨0.35%，成分股中，博杰股份涨停，瑞松科技、晶品特装、瀚川 智能涨幅靠前。 数据显示，紧密跟踪该指数的机器人ETF（159770）昨日成交额达2.78亿元，换手率2.84%，全天交投 活跃，成交额居深市同标的产品第一。该ETF昨日获1650万份申购。 资金流向上，数据显示，截至11月24日，机器人ETF（159770）近20个交易日中，有19日获资金净流 入，累计"吸金"超13亿元。区间净流入天数及累计净流入额均居深市同标的产品首位。 此外，电子板块同样表现亮眼。电子ETF（159997）紧密跟踪的中证电子指数昨日收涨1.96%，成分股 中，沪电股份涨停，东山精密、深南电路、恒玄科技涨幅靠前。 数据显示，电子ETF（159997）昨日成交额超3200万元，全天获净申购达400万份。资金流向方面，截 至11月24日，该ETF已连续两日获资金净流入。 机器人ETF（159770）紧密跟踪中证机器人指数，行业配置包括制造业与信息传输、软件和信息技术服 务业等，重仓股含汇川技术、科大讯飞、石头 ...

11月24日，市场探底回升，三大指数集体收红。 热门ETF方面，截至11月24日收盘，机器人ETF（159770）成交额达2.58亿元。成分股方面，宏英智 能、东杰智能、瑞松科技涨幅领先。 资金流向来看，Wind数据显示，截至11月21日，该ETF连续27个交易日获资金净流入，累计"吸金"超19 亿元。 此外，截至11月24日收盘，科创综指ETF天弘（589860）成交额近2400万元。成分股方面，金橙子、光 云科技、品高股份等涨幅领先。 科创综指ETF天弘（589860）紧密跟踪科创综指，该指数于定位于科创板市场综合指数，对科创板的市 值覆盖度约为97%，成分股覆盖小市值硬科技企业，具有极强的表征性和突出的成长属性。前十大权重 股包括寒武纪-U、海光信息、中芯国际等科技龙头。 消息面来看，据智通财经，智元远征A2完成全球首次人形机器人百公里跨省行走，获吉尼斯世界纪录 认证。 此外，长盈精密11月19日在互动平台表示，第四季度海外人形机器人新订单仍在加速增长，公司正在积 极扩产。 中信建投表示，机器人板块四季度以来持续回调，当前部分优质个股已进入底部可配置区间。产业趋势 处于0-1兑现前夕，进度并未低预期。国 ...

Group 1: Market Performance - On November 20, A-shares' three major indices opened high but closed lower, with the robotics concept experiencing a pullback, as the CSI Robotics Index fell by 0.97% [1] - The chip sector also saw a decline, with the CSI Chip Industry Index dropping by 1.27% on the same day [1] Group 2: ETF Insights - The Robotics ETF (159770) saw a net subscription of 19.5 million units throughout the day, making it the highest in trading volume among similar products in the Shenzhen market [1] - As of November 19, the Robotics ETF (159770) had a total scale exceeding 9.7 billion, making it the largest among its peers in the Shenzhen market [1] - The Robotics ETF achieved a cumulative net inflow of 1.794 billion from October 16 to November 19, marking it as the top performer among similar ETFs in the Shenzhen market [2] Group 3: Company Developments - Zhiyuan Robotics has developed three major product series supported by its "One Body Three Intelligence" technology system, which integrates motion intelligence, interaction intelligence, and operational intelligence [2] - Zhiyuan's self-developed robot operating system, "Lingqu OS," is set to be officially open-sourced by the end of this year [2] Group 4: Industry Trends - GlobalFoundries announced the acquisition of Advanced Micro Foundry in Singapore, which will make it the largest pure silicon photonics chip foundry globally based on revenue [3] - The outlook for 2026 suggests a shift in valuation drivers from liquidity to profit, with expectations for AI to empower economic transformation and a diverse range of applications emerging in the AI industry [3] - The humanoid robot sector is currently under dual pressure of valuation and sentiment, with indications that the window for confirming the bottom and starting a rebound is approaching [3]

此外，科创综指昨日（11月19日）收跌1.13%，紧密跟踪该指数的科创综指ETF天弘（589860）全天成 交额超2300万元，换手率7.55%，全天交投活跃，收盘时溢折率0.14%。成分股中，腾景科技、英方软 件等股涨幅靠前。 11月19日，市场窄幅震荡，沪指、创业板指均收红。热门赛道中，机器人概念继续回调。中证机器人指 数收跌0.93%，成分股中，宏英智能、东杰智能、华东数控、伟创电气等股涨幅靠前。 ETF方面，紧密跟踪中证机器人指数的机器人ETF（159770）昨日（11月19日）全天成交额3.21亿元， 居深市同标的产品首位。截至11月18日收盘，该ETF最新规模为98.11亿元，为深市同标的第一。 Wind数据显示，该ETF昨日（11月19日）获净申购3450万份。资金流向方面，Wind数据显示，截至11 月18日，该ETF已连续24个交易日获资金净流入，累计"吸金"超17.5亿元。 此外，据中国新闻网，宇树科技CEO王兴兴近日在2025人工智能+大会主论坛上表示，下一个十年，AI 技术将赋予机器人真正"理解世界"的能力。如果说过去十年是机器人行业的萌芽与探索，下一个十年将 是生长与绽放。 中信建投 ...

11月17日，A股继续弱势震荡，中证机器人指数逆市收涨0.3%。跟踪该指数的ETF中，机器人ETF （159770）昨日平收，全天获净申购1500万份。 值得一提的是，机器人ETF（159770）自10月16日以来持续获资金净流入，截至11月14日的22个交易日 里累计已"吸金"超17.4亿元。 与此同时，该ETF的份额也不断增长，截至11月14日流通份额为98.04亿份，创上市以来新高。 此外，科创综指ETF天弘（589860）交投依旧保持活跃，11月17日换手率超10%，近一周日均换手率达 9.27%。 机器人ETF（159770，场外C类014881）紧密跟踪中证机器人指数，从机器人产业链的维度看，标的指 数覆盖了硬件和软件的核心领域：核心零部件、算法控制模块、电机电池模块。 科创综指ETF天弘（589860）紧密跟踪科创综指，该指数于定位于科创板市场综合指数，成分股覆盖小 市值硬科技企业，具有极强的表征性和突出的成长属性。前十大权重股包括寒武纪-U、海光信息、中 芯国际等科技龙头。 消息面上，宇树科技完成IPO辅导。11月15日，中国证监会官网显示，宇树科技IPO上市辅导工作完 成。公告显示，宇树科技 ...

Market Performance - The market experienced a significant rally on November 13, with major indices closing higher; the Shanghai Composite Index reached a ten-year high, while the ChiNext Index rose over 2% [1] - By the end of the trading day, the Shanghai Composite Index increased by 0.73%, the Shenzhen Component Index rose by 1.78%, and the ChiNext Index gained 2.55% [1] ETF Highlights - The Robot ETF (159770) tracking the CSI Robot Index closed up by 0.74% with a trading volume of 228 million yuan on November 13 [1] - The Robot ETF (159770) saw a net subscription of 18 million units on November 12, bringing its total scale to 9.797 billion yuan [1] - The Robot ETF has experienced continuous net inflows for 20 consecutive trading days, accumulating over 1.68 billion yuan [1] Chip Sector Insights - The Chip ETF Tianhong (159310) tracking the chip industry index rebounded with a nearly 2% increase [2] - The Chip ETF has seen significant capital inflow, with net inflows for four consecutive trading days, totaling over 10 million yuan [2] - The chip industry is expected to see a 37.62% year-on-year growth in net profit attributable to shareholders in the first half of 2025, driven by policy support and surging demand [2] Robotics Industry Developments - The global first batch of cyber store clerks began operations in Shenzhen on November 11, indicating advancements in AI and robotics [3] - Michael Spence, a Nobel laureate, noted that the AI development gap between China and the U.S. is narrowing, with both countries accelerating their advancements [3] - The humanoid robot industry is progressing rapidly, with companies like Tesla, Xiaopeng, and Leju Intelligent releasing new humanoid robots [4] - The humanoid robot supply chain is categorized into three main segments: "brain—body—whole machine integration," with the core value concentrated in the midstream components [3]

Market Overview - On November 11, the market experienced fluctuations with the three major indices opening high but closing lower. The Shanghai Composite Index fell by 0.39%, the Shenzhen Component Index decreased by 1.03%, and the ChiNext Index dropped by 1.4%. The total trading volume in the Shanghai and Shenzhen markets was less than 2 trillion yuan, a decrease of 180.9 billion yuan compared to the previous trading day [1] ETF Performance - The Robot ETF (159770) closed down by 0.78% with a net subscription of 37.5 million shares and a trading volume exceeding 235 million yuan. This ETF has seen continuous capital inflow for 18 consecutive trading days, accumulating over 1.5 billion yuan in net inflow [2] - Over the past 60 trading days, the Robot ETF has recorded net inflows on 43 days, totaling nearly 3 billion yuan [2] Industry Developments - A recent announcement from "Zhiyuan Shuangwei" indicated that Upwei New Materials will launch a full-size robot standing 1.88 meters tall. Additionally, a patent for a "robotic finger, robotic hand, and humanoid robot" applied by Yushu Technology Co., Ltd. has been authorized [2] - Dongwu Securities believes that the wave of embodied intelligence positions humanoid robots as the best carrier for AI, potentially ushering in a decade-long industrial cycle. By 2025, small-scale production of robots is expected to commence, with accelerated iteration and expansion of components, leading to a significant industry explosion by 2026 [2] - CITIC Construction Investment Securities noted that the supply chain for core components of humanoid robots is developing in a coordinated manner, with different segments progressing at varying paces. The overall industry chain is transitioning from technology research and development to large-scale manufacturing and ecosystem construction [2]

Core Viewpoint - The robotics sector is experiencing significant investment interest, with major companies and ETFs seeing substantial inflows and positive market movements, driven by advancements in technology and infrastructure investments. Group 1: Market Performance - The three major indices opened higher on November 11, with the China Securities Robotics Index rising by 0.29%, led by stocks such as Nanwang Technology, which increased by over 3% [1] - The Robotics ETF (159770) also saw a rise of 0.19%, with a trading volume exceeding 430 million yuan, indicating strong market interest [2] Group 2: Investment Inflows - The Robotics ETF has experienced continuous capital inflow for 18 consecutive trading days, accumulating over 1.5 billion yuan, making it the top performer in the Shenzhen market [2] - In the last week alone, the ETF attracted over 600 million yuan, with a total of nearly 3 billion yuan in inflows over the past 60 trading days [2] Group 3: Industry Developments - Meta, a major U.S. tech company, announced plans to invest 600 billion dollars in AI data centers and talent recruitment by 2028, highlighting the growing importance of AI and robotics [2] - At the World Internet Conference, advancements in humanoid robots were discussed, with improvements in capabilities such as dancing and performance attributed to global collaborative efforts [2][3] Group 4: Future Outlook - JD.com plans to establish the world's first unmanned delivery station by April next year, emphasizing the potential of robotics to create new job opportunities while alleviating human labor [3] - According to a report by CITIC Securities, the robotics sector is expected to enter a phase of consolidation and value realization after significant adjustments in October, with a focus on high-probability stocks and undervalued performers [3]

Group 1: Robot ETF Performance - The Robot ETF (159770) experienced a 2.04% increase on November 6, followed by a 1.24% decline in early trading on November 7, with a trading volume exceeding 840 million yuan [1] - The ETF has seen continuous net inflows for 16 trading days, accumulating over 1.1 billion yuan, with 319 million yuan in inflows over the first four trading days of the week [1] - As of November 6, the ETF's latest scale reached 9.743 billion yuan, making it the largest in its category in the Shenzhen market, with a total of 9.267 billion shares [1] Group 2: Company Developments - UBTECH won a bid for the "Zigong Data Collection Center for Humanoid Robots" project, with a procurement amount of 159 million yuan for its latest humanoid robot, Walker S2, expected to be delivered in November [2] - The Walker series has secured over 800 million yuan in orders for the year, following a 250 million yuan order in September [2] - XPeng Motors unveiled its next-generation IRON robot, which will utilize solid-state batteries and three Turing AI chips, aiming for mass production of advanced humanoid robots by the end of 2026 [2] - According to Shenwan Hongyuan, domestic robot technology is globally leading, with more new energy vehicle companies rapidly advancing in this sector, enhancing market confidence in domestic products [2]

Group 1 - The Robot ETF (159770) experienced a trading volume of 245 million yuan on November 5, closing down 0.87%, but it was the top performer among similar products in the Shenzhen market [1] - As of November 6, the Robot ETF (159770) saw a price increase of 0.87% with a trading volume exceeding 23 million yuan, indicating positive market sentiment [2] - The Robot ETF (159770) has attracted a net subscription of 70.5 million units on November 5, with a cumulative net inflow of over 1.14 billion yuan over the past 15 trading days, reflecting strong investor interest [2] Group 2 - The latest circulating scale of the Robot ETF (159770) reached 9.517 billion yuan, making it the largest among similar products in the Shenzhen market, with a record circulating share of 9.223 billion units [2] - The index tracked by the Robot ETF covers key areas in the robotics industry, including core components, algorithm control modules, and motor battery modules, indicating a comprehensive approach to the sector [2] - The founder and chairman of Yushu Technology, Wang Xingxing, projected an average growth rate of 50%-100% for individual companies in the domestic intelligent robotics sector, supported by favorable policies [2] Group 3 - Zhaoyi Innovation announced the launch of the GD32F503/505 high-performance series of 32-bit general-purpose microcontrollers, which are expected to be widely used in various applications including industrial automation and humanoid robots [3] - The Chinese robotics industry is expected to continue its growth trajectory due to recovering domestic and international demand, ongoing policy support, and improved product performance, with domestic brands likely to gain market share [3] - Recent advancements in humanoid robotics by companies like Tesla, Figure, and Yushu are driving industry development, with a focus on whole machine manufacturers and core component suppliers [3]