智通财经APP获悉，国泰海通发布研报称，全球首个人形机器人半马比赛在北京成功举行。重点关注机 器人整机厂商及机器人核心零部件供应商，包括：1）执行器和电机。2）驱控；3）减速器；4）丝杠 类；5）丝杠设备；6）传感器。 国泰海通主要观点如下： 全球首个人形机器人半马比赛在北京成功举行，天工Ultra夺冠。 4月19日，全球首个人形机器人半马比赛在北京亦庄成功举行，涵盖20支人形机器人队伍参赛，包括清 华大学、北京理工大学等高校及北京人形创新中心等研究机构和企业的机器人。参赛机器人包括天工 Ultra、夸父机器人、宇树科技G1、神农、轩辕、众擎PM01、幻幻机器人等。天工Ultra以约2小时40分 钟的成绩夺冠。天工Ultra身高约1.8米、体重约55公斤，参赛过程中天工Ultra的配速为7—8千米/时。 本次人形机器人比赛是一次很好的公众认知与市场教育，对人形机器人的技术验证和行业标准建立有积 极意义。比赛过程中通过约21km的长距离奔跑，面临复杂地形（如坡道、碎石、沙地）和极端天气 （如大风、低温）挑战，对人形机器人的运动控制算法、关节抗冲击性、续航能力及环境感知技术进行 了全面压力测试。 同时赛事中也暴露 ...

Investment Rating - The report does not explicitly provide an investment rating for the securities industry or the specific company being analyzed [1]. Core Insights - The company has initiated a digital transformation since 2021, focusing on building a data foundation to enhance digital capabilities, resulting in the launch of 28 significant applications to improve customer engagement and service quality [18][20]. - The company plans to increase its proprietary investment scale in response to regulatory encouragement for long-term capital market participation, aiming to enhance overall capital efficiency [18][19]. - The asset management division is strategically positioned to leverage its public fund license and is focusing on passive equity products, particularly in the index investment space, to meet diverse client needs [20][21]. - The company is expanding its international business by following the needs of local enterprises, particularly in the "Belt and Road" regions, and aims to integrate domestic and international client services [22][23]. - The asset-backed securities (ABS) business has seen significant growth, with a total issuance of 173 ABS products amounting to 1,391.13 billion, indicating a strong market position [24]. Summary by Sections 01 Research Overview - The research was conducted on February 26, 2025, focusing on the securities industry and involved multiple financial institutions [1][13]. 02 Detailed Research Institutions - The research involved seven fund management companies and one other financial company, with a significant representation from fund management firms [14][16]. 04 Main Content Information - The company is actively enhancing its AI capabilities to improve investment advisory services and customer interactions, aiming for a comprehensive digital transformation [18]. - The company is committed to expanding its asset management capabilities, particularly in passive investment products, to cater to varying risk appetites among clients [21]. - The company has established a strong presence in the ABS market, with a focus on innovative products in response to national policy directions [24].