Investment Rating - The report maintains an "Overweight" rating for the humanoid robot industry [4] Core Views - The humanoid robot industry is experiencing significant advancements both in terms of product development and policy support, indicating a new phase of commercialization [14] - Major companies and startups are increasingly investing in humanoid robotics, with notable developments in technology and funding [14] - The establishment of innovation centers and investment funds in regions like Hubei is expected to enhance the industry's growth and innovation capabilities [12][13] Industry Developments - On June 3, PepsiCo launched its first humanoid robot, "Pepsi Blue Treasure," marking a milestone in brand intelligence upgrade [1] - Galaxy General introduced an end-to-end navigation model, TrackVLA, which enhances the capabilities of humanoid robots [1] - HeShan Technology has developed a tactile simulation model, leading the evolution of tactile technology in robotics [1] - Figure released a video showcasing its robot sorting packages, demonstrating advanced operational capabilities [2] - YuanSheng Technology completed a new funding round to advance its tactile technology for robots [2] - Benmo Technology raised several hundred million RMB in funding to enhance its flexible motor design and production capabilities [2] - Zhongke Wireless Semiconductor launched a GaN-based ASIC driver chip for robotic joints, tailored for various high-power applications [3] Company Initiatives - Yijiahe established a new intelligent technology company focusing on robotics [8] - Zhongkong Technology is actively investing in the humanoid robot sector and plans to launch new products [8] - Zhaofeng Co. and Kepler Robotics formed a strategic partnership to accelerate the industrialization of humanoid robots [8] - Kede CNC is focusing on motion control technology and core component manufacturing for humanoid robots [9] - Longxi Co. is in the early stages of developing supporting products for humanoid robots [9] - Lingyi Intelligent Manufacturing and Shanghai Zhiyuan have formed a strategic partnership to develop industrial humanoid robots [9] - Fule New Materials launched its second-generation tactile sensing products, focusing on electronic skin systems [10] - Jingu Co. is increasing R&D efforts in robotics and related fields [10] - iFlytek's super brain platform covers 90% of domestic intelligent robot manufacturers, enhancing human-robot interaction capabilities [11] Policy Support - Hubei Province is accelerating the high-quality development of the humanoid robot industry, establishing a significant innovation center [12] - A 5 billion RMB investment fund for the humanoid robot industry was established in Hubei to support venture investments [12] - Guangdong plans to establish an AI and robotics industry alliance to enhance industry integration and technological advancements [13]

Investment Rating - The report maintains an "Overweight" rating for the humanoid robot industry [4] Core Views - The humanoid robot industry is experiencing significant advancements both in terms of product development and policy support, indicating a new phase of commercialization [14] - Major companies and startups are increasingly investing in humanoid robotics, with notable developments in technology and funding [14] - The establishment of innovation centers and investment funds in regions like Hubei is expected to enhance the industry's growth and innovation capabilities [12][13] Industry Developments - On June 3, PepsiCo launched its first humanoid robot, "Pepsi Blue Treasure," marking a milestone in the commercialization of humanoid robots [1] - Galaxy General introduced an end-to-end navigation model, TrackVLA, which enhances the capabilities of humanoid robots [1] - HeShan Technology has developed a tactile simulation model, leading the evolution of tactile technology in robotics [1] - Figure released a video showcasing its robot sorting packages, demonstrating advanced operational capabilities [2] - YuanSheng Technology completed a new round of financing to advance its tactile technology for robots [2] - Benmo Technology raised several hundred million RMB in funding to enhance its flexible motor design and production capabilities [2] - ZhongKe Wireless Semiconductor launched a GaN-based ASIC driver chip for robotic joints, aimed at various robotic applications [3] Company Developments - Yijiahe established a new intelligent technology company focused on robotics [8] - Zhongkong Technology is actively investing in the humanoid robot sector and plans to launch new products [8] - Zhaofeng Co. and Kepler Robotics have formed a strategic partnership to accelerate the industrialization of humanoid robots [8] - Kede CNC is focusing on motion control technology and core component manufacturing for humanoid robots [9] - Longxi Co. is in the early stages of developing supporting products for humanoid robots [9] - Lingyi Intelligent Manufacturing and Shanghai Zhiyuan have formed a strategic partnership to develop industrial humanoid robots [9] - Fule New Materials launched its second-generation tactile sensing products, focusing on electronic skin systems [10] - Jingu Co. is increasing its R&D efforts in robotics and related fields [10] - iFlytek's super brain platform covers 90% of domestic intelligent robot manufacturers, enhancing human-robot interaction capabilities [11] Policy Developments - Hubei Province is accelerating the high-quality development of the humanoid robot industry, establishing a significant innovation center [12] - A 5 billion RMB investment fund for humanoid robotics has been established in Hubei to support industry growth [12] - Guangdong plans to establish an AI and robotics industry alliance to enhance industry integration and technological advancements [13]

-13% -8% -3% 2% 7% 12% 17% 22% 27% 32% 37% 2024-06 2024-08 2024-11 2025-01 2025-03 2025-06 机械设备 沪深300 证券研究报告：机械设备|行业周报 发布时间：2025-06-10 行业投资评级 强于大市|维持 | 行业基本情况 | | | | --- | --- | --- | | 收盘点位 | | 1640.22 | | 52 | 周最高 | 1803.12 | | 52 | 周最低 | 1122.98 | 行业相对指数表现 资料来源：聚源，中邮证券研究所 研究所 分析师:刘卓 SAC 登记编号:S1340522110001 Email:liuzhuo@cnpsec.com 分析师:傅昌鑫 SAC 登记编号:S1340524070004 Email:fuchangxin@cnpsec.com 近期研究报告 《 分 析 仪 器 进 口 数 据 梳 理 》 - 2025.04.27 人形机器人行业周度报告 （2025.06.02-2025.06.08） Figure 机器人展示物流环境良好适应性，泛化能 力突破有望加速实际 ...

证券研究报告：机械设备|行业周报 发布时间：2025-06-10 行业投资评级 强于大市|维持 | 行业基本情况 | | | | --- | --- | --- | | 收盘点位 | | 1640.22 | | 52 | 周最高 | 1803.12 | | 52 | 周最低 | 1122.98 | 行业相对指数表现 -13% -8% -3% 2% 7% 12% 17% 22% 27% 32% 37% 2024-06 2024-08 2024-11 2025-01 2025-03 2025-06 机械设备 沪深300 资料来源：聚源，中邮证券研究所 研究所 分析师:刘卓 SAC 登记编号:S1340522110001 Email:liuzhuo@cnpsec.com 分析师:傅昌鑫 SAC 登记编号:S1340524070004 Email:fuchangxin@cnpsec.com 近期研究报告 《 分 析 仪 器 进 口 数 据 梳 理 》 - 2025.04.27 人形机器人行业周度报告 （2025.06.02-2025.06.08） Figure 机器人展示物流环境良好适应性，泛化能 力突破有望加速实际 ...

证 券 研 究 报 告 人形机器人行业周报（20250602-20250608） 特斯拉核心人物离职，Figure 发布 60min 物 推荐（维持） 流分拣视频 邮箱：suqianye@hcyjs.com 执业编号：S0360523050001 证券分析师：黄麟 邮箱：huanglin1@hcyjs.com 执业编号：S0360522080001 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 301 | 0.04 | | 总市值(亿元) | 49,118.76 | 4.89 | | 流通市值(亿元) | 42,830.18 | 5.37 | 相对指数表现 行业研究 电力设备及新能源 2025 年 06 月 09 日 华创证券研究所 证券分析师：苏千叶 | % | 1M | 6M | 12M | | --- | --- | --- | --- | | 绝对表现 | 1.5% | -8.4% | 7.6% | | 相对表现 | -0.2% | -5.9% | -0.3% | -13% 1% 15% 28% 24/06 24/08 24/11 25/01 2 ...

Group 1: Company Overview - White Elephant is facing a market crisis due to consumer confusion over its "Duoban" product line, which has led to a rapid rise in online discussions and scrutiny [1] - The company has stated that the "Duoban" products are larger versions of their existing offerings, and they plan to adjust the packaging to prevent further misunderstandings [1] Group 2: Market Competition - The instant noodle market is experiencing intensified competition, with major player Kang Shifu reporting a revenue decline of 1.3% in 2024, totaling 28.414 billion yuan [2] - Factors contributing to the stagnation of the instant noodle market include the rise of food delivery services, urbanization slowdown, and increased health awareness among consumers [2] - White Elephant is struggling with significant price discrepancies between online and offline sales channels, leading to poor performance in offline markets [3][4] Group 3: Strategic Response - In response to market pressures, White Elephant is focusing on maintaining competitive pricing to capture market share, which has resulted in some distributors selling at a loss [3][4] - The registration of the "Duoban" trademark is seen as a strategy to protect marketing interests in a highly competitive environment [4]

1、 RoBoLeague世界机器人足球联赛将于6月28日在北京亦庄开赛 近日，备受瞩目的RoBoLeague世界机器人足球联赛正式宣布将于6月28日在北京亦庄拉开帷幕。本届赛事 为人工智能AI赛，所有参赛机器人将通过AI策略自主进行比赛，展现了人工智能与机器人技术的深度融 合。本次赛事以"加速进化"人形机器人加速T1作为标准平台，面向全国招募参赛队伍。RoBoLeague世界 机器人足球联赛不仅是机器人技术的竞技场，更是人工智能领域的一次重要实践。通过比赛，各参赛队伍 将展示其在机器人自主决策、运动控制和团队协作等方面的技术实力，推动人形机器人技术的快速发展。 2、 海康机器人IPO历经2年再度中止，上市前景面临多重考验 据深交所披露信息显示，杭州海康机器人股份有限公司（以下简称"海康机器人"）的创业板IPO进程近日 已被按下"暂停键"，正式进入中止状态。据悉，此次中止的核心原因在于企业提交的IPO申请文件中财务 资料已超过规定有效期。海康机器人的上市之路自2023年3月7日获深交所受理以来，已历经2年多时间。 期间，公司经历了多轮监管问询与财务资料补充，包括2023年5月、8月的两轮问询，以及2024年1 ...