香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 OneRobotics (Shenzhen) Co., Ltd. 臥 安 機 器 人（ 深 圳 ）股 份 有 限 公 司 該投資原因及裨益 本公告乃由臥安機器人（深圳）股份有限公司（「本公司」），連同其附屬公司統稱（「本 集團」）自願刊發，以知會本公司股東及潛在投資者有關本公司之最新業務計劃及發 展情況。 戰略性投資目標公司 本公司董事會（「董事會」）欣然宣佈，本集團已透過向慧靈科技（深圳）股份有限公司 （「目標公司」）原有股東購買股權及以注資的方式，以總代價人民幣240.56百萬元購 買目標公司經擴大後股本權益的21.00%股權（「投資事項」）。 目標公司為一間根據中國法律註冊成立之股份有限公司，成立於2015年，為國家級 專精特新「小巨人」高科技企業，是國內領先的具身智能機器手和物理智能體解決方 案提供商。目標公司構建了涵蓋機器手、機械臂等硬件產品，及末端精準感知、自 動化輔助算法、真機強化學習框架 ...

Financial Data and Key Metrics Changes - In 2025, total revenue grew approximately 48% year-over-year to CNY 1.150 billion, with a non-GAAP operating profit of CNY 14 million, a significant improvement from a non-GAAP operating loss of CNY 232 million in 2024 [12][13] - The company recorded a GAAP operating loss of CNY 179 million for the year, an improvement from a loss of CNY 437 million in 2024 [12] - Cash and cash equivalents at year-end were $215 million [13] Business Line Data and Key Metrics Changes - Internet business revenue increased 19% year-over-year to CNY 615 million, with adjusted operating profit of approximately CNY 115 million [13][14] - AI and other segments saw revenue growth of 85% year-over-year to CNY 535 million, accounting for 46.5% of total revenue [14][15] - Robotics revenue grew 31% year-over-year, with Q4 robotics revenue reaching about CNY 60 million, up 94% year-over-year [3][15] Market Data and Key Metrics Changes - The internet business generated approximately CNY 460,000 in adjusted operating profit per working day, providing stable cash flow for investments [14] - The robotics segment accounted for 27% of the AI and other segments' revenue and 13% of total revenue in 2025 [15] - The company is focusing on overseas markets for its robotic arm business, which is expected to maintain steady contributions [15] Company Strategy and Development Direction - The company aims to combine digital coworkers through AI agents and physical coworkers through service robots, supported by operating cash flow and disciplined financial management [10] - A strategic focus on core strengths in voice robotics and AI integration is expected to enhance product experience and drive growth [3][9] - The company is positioning its EasyClaw product as a technical framework that can generate a multi-product ecosystem [51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining profitability in 2026, emphasizing disciplined growth and operational efficiency [66][70] - The company is focused on leveraging existing profits and cash flow to support new business development without large-scale proactive investments [70] - Management highlighted the importance of user experience and the need to adapt to changing market demands in the AI and robotics sectors [22][30] Other Important Information - The company has entered into framework agreements with established mobility brands for its smart wheelchair product, expected to begin shipments in Q2 2026 [6][10] - The smart wheelchair market is projected to grow significantly, with the company aiming to capture a share of this expanding market [61] Q&A Session All Questions and Answers Question: What core workflows has the company accumulated in promoting AI agents? - Management discussed the unique features of their AI agents and the importance of targeting user demands to develop uncommon skills, emphasizing their differentiation strategy in the competitive landscape [21][22] Question: What is management's view on the sustainable economic value in the industry? - Management believes that economic value will be concentrated across various layers, including public cloud platforms and user-centric applications, with a focus on 2B user scenarios [26][29] Question: Can management share metrics related to EasyCloud products? - Management highlighted that usage volume is a core measurement indicator for agent products, noting increased token usage since the Spring Festival [36][37] Question: What are the initial monetization methods for EasyCloud? - Management indicated that EasyCloud's revenue model is based on user calls and point consumption, emphasizing a natural commercialization approach without subsidies [43][45] Question: How does the company view synergies in its global expansion? - Management stated that a breakthrough in a single product is essential for building an ecosystem, with EasyClaw positioned as a key product to generate multi-product synergies [49][51] Question: Is the company confident in maintaining profitability in 2026? - Management confirmed that maintaining a reasonable profit pace while advancing business development is a core internal goal, with a focus on disciplined investment [66][70] Question: How will the company further promote the value of its internet business? - Management emphasized the importance of continuous development and transparency in disclosures to guide market understanding of the company's long-term value [76][77]

Market Overview - Major indices experienced declines: ChiNext Index (-3.49%), Shanghai Composite Index (-3.63%), Shenzhen Component Index (-3.76%), STAR Market 50 (-4.31%), and North Exchange 50 (-5.48%) [1] - TMT sector led the decline with SW LED (-7.14%), SW Printed Circuit Board (-6.61%), and SW Communication Terminal and Accessories (-6.59%) [1] Domestic News - A strategic cooperation agreement was signed between Chipview and the National Virtual Reality Innovation Center, focusing on smart zoom lenses, holographic optical waveguides, and AI/AR glasses development [1] - Naxin Micro, a leading domestic analog chip company, announced a price adjustment for some products to ensure product quality stability and supply continuity [1] - DJI filed a lawsuit against Yingshi in Shenzhen regarding six patent disputes related to high-tech areas such as drone flight control and image processing [1] - Chasing Technology showcased its first 3LCOS 4K projector, INNIX D2, featuring 3400 CVIA lumens brightness and native 4K resolution [1] Overseas News - According to TrendForce, despite expected NAND Flash price increases, the average storage capacity of smartphones is projected to grow by 4.8% by the end of 2026, with 256 GB becoming the new standard [2] - Micron anticipates a significant increase in demand for automotive memory as car manufacturers begin mass production of AI autonomous vehicles, with future vehicles requiring over 300GB of RAM [2] - Upstage, a South Korean AI startup, is negotiating a major acquisition plan with AMD to purchase 10,000 AI chips [2] - LG Innotek plans to invest heavily in new physical AI businesses such as autonomous driving and robotics, while also doubling the production capacity of existing semiconductor substrates [2] AI News - MiniMax upgraded its Coding Plan to a Token Plan, introducing a unified subscription plan supporting multimodal models [3] - Baidu launched DuMate, the first enterprise-level full version of OpenClaw in China, enabling natural language interaction and supporting native operations of office software [3] - WeChat introduced the WeChat ClawBot plugin, allowing users to connect to OpenClaw for chat-based remote control [3] - Zhipu AI launched the GLM-Claw intelligent agent, designed to assist users with various tasks and improve work and life efficiency [3] Industry Tracking - The Tianyuan constellation was officially launched by Wuxi Xinglian, planning to build one high-orbit satellite and 216 low-orbit satellites to create a closed-loop full industry chain [4] - A Chinese research team demonstrated "full-stack" logic operations on silicon-based quantum computing chips, marking a significant advancement in quantum technology [4] - Guohua Intelligent launched a series of products at a spring conference, focusing on embodied perception and motion control for industrial and service applications [4] - POSCO announced a collaboration with Sila to develop new material structures that integrate carbon nanomaterials to enhance battery life [4] Annual Reports - ChipMotion reported a total revenue of 524 million yuan for 2025, a year-on-year increase of 29.48%, with a net profit of 303 million yuan, up 36.56% [6] - Huaqin Technology achieved a total revenue of 171.437 billion yuan, a 56.02% increase, with a net profit of 4.054 billion yuan, up 38.55% [6] - Glodon reported a total revenue of 6.097 billion yuan, a decrease of 2.28%, but a net profit increase of 61.77% to 405 million yuan [6] - Rihua Optoelectronics achieved a total revenue of 667 million yuan, a 14.46% increase, with a net profit of 105 million yuan, up 54.94% [6]

Core Viewpoint - Realman Tech Month is not just a product showcase but a practical action initiative aimed at demonstrating the full-stack technology capabilities of Realman, including joint modules, robotic arms, remote operation networks, and data engines, over a month-long period [1][3]. Group 1: Company Overview - Realman is positioned as a system-level infrastructure platform company for the embodied intelligence era, focusing on the integration of hardware, data, and remote operation networks [3]. - The company has achieved an annual production capacity of over 100,000 integrated joint modules and an average Mean Time Between Failures (MTBF) of 50,000 hours for robotic arms, certified by CR L3 [3]. - Realman has served over 8,000 enterprise users globally, with over 90% of operational robots in China utilizing Realman's joint modules, robotic arms, or ODM products [3]. Group 2: Product Launch and Promotions - The month of March will feature four themed weeks focusing on the core capabilities of hardware, data, and remote operation networks, with new product launches and limited-time promotions [5]. - The first week will highlight high-power density joint modules, including the WHJ and WHG series, with a focus on the technology behind the 50,000-hour MTBF [6][8]. - The second week will focus on ultra-lightweight humanoid robotic arms (RM, RML, RX series), emphasizing flexibility and precision in various operational scenarios [9][11]. - The third week will introduce the GLN remote operation network solution, enabling global service capabilities for robotic operations and supporting high-quality data for model iterations [13][15]. - The fourth week will showcase Realman's comprehensive delivery capabilities and customer value realization, highlighting real customer case studies [16]. Group 3: Customer Engagement and Community - During Realman Tech Month, the company will release a series of customer case studies titled "Realman and TA's Friends," focusing on practical experiences of industry partners in implementing technological innovations [17][18]. - Realman aims to be a supportive partner for innovators, leveraging its foundational capabilities to help realize intelligent dreams [18].

Core Insights - The robot rental market is experiencing a significant surge in demand, with some companies reporting order increases of over 70% after the Spring Festival, and rental schedules booked until May [2][3][4] Group 1: Market Dynamics - The 2026 Spring Festival showcased robots prominently, leading to a notable increase in rental inquiries and orders, indicating a strong market response [3] - Companies like Qingdao Qinyang Intelligent Technology Co., which entered the rental market in 2025, are capitalizing on this demand, with orders expected to peak around holidays and events [3][4] Group 2: Pricing Trends - The rental prices for robots have stabilized, with daily rental rates now ranging from 3,000 to 4,000 yuan, compared to over 10,000 yuan earlier in 2025 [5] - The decrease in rental prices is attributed to increased supply from manufacturers and a normalization of customer excitement after the initial surge [5] Group 3: Application and Service Evolution - The robot rental market is shifting from merely providing equipment to offering integrated solutions, including operational services [6][9] - Robots are being utilized in diverse applications beyond entertainment, such as educational settings, where they serve as teaching aids and engage in programming training [9]

Core Insights - The article highlights the integration of advanced robotics technology with cultural heritage in Lanzhou, Gansu, during the Spring Festival, attracting a significant number of young visitors [1][3]. Group 1: Project Overview - The mobile robot-themed amusement park, created by the Gansu Humanoid Robot Innovation Center in collaboration with local universities and institutions, opened on February 13 and will remain operational until April 30 [1][9]. - The project features a 400-square-meter modular experience space that connects historical landmarks along the Hexi Corridor with modern technology through immersive experiences [3][9]. Group 2: Immersive Experience Zones - The park includes five immersive experience zones, allowing visitors to engage in interactive tasks that blend historical scenarios with robotics, such as controlling robots to simulate ancient transportation and military battles [3][5]. - Specific activities include operating humanoid robots to transport goods at the Yellow River ancient ferry, simulating battles with VR technology, and using robotic arms for wall painting restoration [3][4][7]. Group 3: Educational Impact - The initiative aims to transform theoretical knowledge into practical applications, providing local students with exposure to cutting-edge technology and fostering a deeper understanding of the integration of advanced technology and rich cultural heritage [4][9]. - Feedback from families indicates that the hands-on experiences are more effective for learning than traditional textbook methods, enhancing children's interest in science and culture [7][8]. Group 4: Future Developments - The project is the first of ten planned application scenarios by the center, with future plans to establish a comprehensive facility for science education, technology research, and data collection in the region [9].

Core Idea - The 2026 Shandong Robot Spring Festival Gala emphasizes the integration of technology and culture, showcasing a variety of performances that highlight the capabilities of robots while celebrating traditional Chinese art forms [3][4][6]. Group 1: Event Overview - The gala features 2,500 drones creating dynamic light displays, symbolizing innovation and future potential [3]. - The event includes 19 diverse performances, such as dance, fashion shows, and situational dramas, merging technological aesthetics with artistic expression [3][4]. Group 2: Technological Integration - The opening performance utilizes 20 robotic arms and 26 dual-arm robots to create a powerful drumming sequence, blending traditional Chinese musical elements with modern technology [3][4]. - The gala introduces a "humanoid robot host + full-scene technology interaction" model, enhancing audience engagement through algorithm-generated New Year blessings [4][6]. Group 3: Cultural Significance - The event intertwines traditional and modern themes, showcasing how technology can revitalize cultural heritage, such as through martial arts and traditional storytelling [6][8]. - Performances like the AI apprentice competing with traditional artists aim to attract younger audiences to classical arts, demonstrating the potential for cultural innovation [8]. Group 4: Narrative Structure - The gala follows a three-part structure: "Cultural Roots - Technological Breakthrough - Future Aspirations," creating a dialogue between tradition, modernity, and future possibilities [6][8]. - The closing performance, featuring a dance between humans and robots, encapsulates the evolution of technology and culture, reinforcing their interconnectedness [8].

Core Viewpoint - The company, specializing in special robotic products, indicates that its technology is primarily designed for extreme operational environments and does not currently extend to applications in space stations or commercial satellites [2]. Group 1 - The company's special robotic products are aimed at high-temperature, high-risk, explosion-proof, and narrow space environments [2]. - The company confirms that its robotics can be applied in the aerospace sector but does not involve space station or commercial satellite applications at this time [2].

Group 1 - The company is currently utilizing automation equipment, such as robotic arms and Automated Guided Vehicles (AGVs), in inspection and testing scenarios [2] - These automated devices are employed for sample transfer, positioning, loading and unloading, and some standardized testing processes [2] - The implementation of these technologies has effectively improved operational efficiency and process consistency [2]

Core Viewpoint - The company, JianKe Intelligent (300823), is focused on the research, design, production, and sales of intelligent mid-to-high-end CNC rebar processing robots and supporting software, providing comprehensive solutions for intelligent rebar processing factories to meet customer automation needs [1] Group 1: Product and Technology - The company's products include various intelligent CNC rebar processing robots and related software [1] - The company has not yet developed its own robotic arms or reducers, relying instead on externally sourced components for some products [1] - The company plans to increase its investment in technological innovation to launch more intelligent rebar processing robot products suitable for smart construction [1] Group 2: Market Position and Strategy - The company aims to help clients improve work efficiency through automation and unmanned transportation capabilities [1] - The overall strategy includes providing integrated solutions for intelligent rebar processing factories to fulfill the growing demand for automation in the industry [1]