近日，创业板上市公司东土科技在投资者交流中提到，关于收购高威科的事项，目前交易正在推进中。 据悉，业绩承诺、标的公司的资产审计等细节将在后续报告书中进行披露。 此次收购可以追溯至今年10月底，彼时东土科技公告称拟以"发行股份+支付现金"的方式收购高威科 100%股份，股票于11月3日复牌。这场涉及工业互联网核心技术与渠道网络的并购，不仅关乎两家企业 的命运，更折射出中国制造业向智能化转型的深层逻辑。 东土科技作为工业互联网底层技术领域的"技术派"，近年来正面临业绩增长瓶颈。2025年前三季度，公 司营收5.01亿元，同比下降11.72%；归母净利润亏损1.48亿元，经营性现金流净流出2.09亿元。在此背 景下，收购高威科成为东土科技突破增长天花板的关键一跃。 东土科技的核心优势在于工业操作系统、控制芯片等底层技术，其鸿道工业操作系统已获国际国内权威 验证，但缺乏下沉市场的销售网络。高威科则手握覆盖全国的渠道资源，却受制于上游品牌定价权。二 者结合后，东土科技可借助高威科的渠道快速推广自主可控的工业软件，替代国外产品；高威科则能依 托东土的技术升级服务能力，提升客户粘性与毛利率。 标的公司高威科此前曾三次冲击I ...

Core Viewpoint - Dongtu Technology (300353) currently does not have direct quantum communication products, but its real-time operating system has potential adaptability for future quantum communication needs due to its microsecond-level real-time response and high reliability [1] Company Summary - Dongtu Technology's Hongdao Industrial Operating System is one of the few domestic real-time systems certified for the highest level of functional safety, featuring microsecond-level real-time scheduling and high reliability [1] - The company acknowledges that quantum communication technologies, such as quantum key distribution and quantum teleportation, have stringent requirements for system response and synchronization precision, which align well with the capabilities of its operating system [1] Industry Summary - The quantum communication field may generate future demand that could leverage the capabilities of real-time operating systems like those offered by Dongtu Technology, indicating a potential market opportunity [1]

Core Viewpoint - Dongtu Technology (300353.SZ) currently does not have direct quantum communication products, but its real-time operating system may have potential value in the quantum communication field due to its capabilities [1] Group 1: Company Overview - Dongtu Technology's Hongdao industrial operating system is one of the few domestic real-time systems certified for the highest level of functional safety [1] - The system features microsecond-level real-time scheduling and high reliability, which aligns with the stringent requirements of quantum communication technologies [1] Group 2: Industry Insights - Quantum communication technologies, such as quantum key distribution and quantum teleportation, demand strict microsecond-level real-time response and multi-node synchronization accuracy [1] - The potential future demand in the quantum communication sector may create opportunities for Dongtu Technology's operating system to adapt and meet these needs [1]

Core Viewpoint - The company currently does not have direct quantum communication products but sees potential alignment with its real-time operating system capabilities in the future if demand arises in the quantum communication field [2]. Company Summary - The company, Dongtu Technology (300353.SZ), responded to an investor inquiry regarding its involvement in quantum communication technologies [2]. - The company's Hongdao industrial operating system is one of the few domestic real-time systems certified for the highest level of functional safety, featuring microsecond-level real-time scheduling and high reliability [2]. - The company acknowledges that quantum communication technologies, such as quantum key distribution and quantum teleportation, have stringent requirements for system response and synchronization, which align well with the capabilities of its operating system [2].

Core Viewpoint - The company currently does not have direct quantum communication products but sees potential compatibility with its real-time operating system in the future if demand arises in the quantum communication field [1]. Group 1: Company Positioning - The company has stated that it does not currently offer direct quantum communication products [1]. - The company's Hongdao industrial operating system is one of the few domestic real-time systems certified for the highest level of functional safety, featuring microsecond-level real-time scheduling and high reliability [1]. Group 2: Technical Insights - Quantum communication technologies, such as quantum key distribution and quantum teleportation, require stringent microsecond-level real-time response and multi-node synchronization precision [1]. - The company's real-time operating system capabilities align well with the demanding requirements of quantum communication systems, indicating potential future adaptability [1].

Group 1 - The company has established Beijing Dongtu Semiconductor Technology Co., Ltd. with a registered capital of 10 million yuan, holding 70% of the shares [1] - The semiconductor equipment sector is a strategic entry point for the company's intelligent controllers and solutions, achieving breakthroughs in this field [1] - The company has formed deep collaborations with leading enterprises for the domestic replacement of semiconductor equipment control systems, delivering hundreds of customized intelligent industrial control devices [1] Group 2 - The establishment of Beijing Dongtu Semiconductor Technology Co., Ltd. aims to enhance the core team's motivation and improve the efficiency of market expansion in the semiconductor equipment sector [2] - The company plans to accelerate the iteration and upgrade of core technologies in semiconductor equipment control through refined operations and market-oriented incentive mechanisms [2] - This initiative is expected to lay the foundation for scaling up the company's emerging business [2]

Core Viewpoint - The company has established a joint venture, Beijing Dongtu Semiconductor Technology Co., Ltd., to enhance its presence in the semiconductor equipment sector and drive commercialization of its intelligent control solutions [1][2] Group 1: Joint Venture Establishment - The company, along with Beijing Litu Technology Co., Ltd. and Beijing Daoxin Zhihui Information Consulting Center (Limited Partnership), has invested to set up Beijing Dongtu Semiconductor Technology Co., Ltd. with a registered capital of 10 million yuan [1] - The company holds a 70% stake in the new venture, contributing 7.5 million yuan, while Litu Technology and Daoxin Zhihui hold 5% and 25% respectively [1] Group 2: Strategic Importance - The semiconductor equipment sector is identified as a strategic entry point for the company's intelligent controllers and solutions, marking a breakthrough in high-end equipment manufacturing [1] - The company has established deep collaborations with leading enterprises in 2024, focusing on domestic replacement of semiconductor equipment control systems [1] Group 3: Commercialization Progress - The company has delivered hundreds of customized intelligent industrial control devices, covering key processes such as semiconductor etching and cleaning [1] - A comprehensive domestic solution has been developed, including the Hongdao industrial operating system, industrial network, controller hardware, and MaVIEW software, indicating a shift from product validation to commercial implementation [1]

Investment Rating - The report maintains a positive outlook on the humanoid robot industry, emphasizing the importance of software development for commercialization [3][4]. Core Insights - The report identifies that the hardware maturity of humanoid robots is currently higher than that of software, with software being the key to commercialization. It highlights the need for advancements in algorithms, data, and control systems to drive the industry forward [3][5][6]. Summary by Sections 1. Algorithms: The Core of Embodied Intelligence - The algorithm framework is divided into two levels: the upper "brain" focuses on task-level planning and decision-making, while the lower "cerebellum" handles real-time motion planning and joint control [3][11][18]. - The report discusses the evolution of control algorithms, noting a shift from traditional methods to modern approaches like reinforcement learning (RL) and imitation learning (IL) [3][19][29]. - The VLA (Vision-Language-Action) model is highlighted as a significant advancement in upper-level control, enabling robots to understand and execute tasks through natural language processing [3][36][40]. 2. Data: The Foundation of Algorithm Learning - Data quality and diversity are crucial for algorithm performance, with sources categorized into real data, synthetic data, and web data. Real data is the most accurate but least abundant [3][74][76]. - The report emphasizes the importance of remote operation and motion capture technologies for collecting high-quality real data [3][79]. 3. Control Systems: The Foundation of Embodied Intelligence - The control system is described as the "brain" of humanoid robots, consisting of hardware (SoC chips, CPUs, GPUs, NPUs) and software components [3][3][3]. - The report notes that the industry lacks a unified consensus on the structure of the "brain" and "cerebellum" in humanoid robots, which are essential for executing complex algorithms and tasks [3][3][3]. 4. Investment Opportunities - The report identifies several key companies in the humanoid robot industry worth monitoring, including: - Controller segment: Tianzhun Technology, Zhiwei Intelligent, Desay SV [4][4]. - Motion control technology: Huichuan Technology, Xinjie Electric, Leisai Intelligent, Gokong Technology, Tosida [4][4]. - Chip manufacturers: Rockchip, Horizon Robotics [4][4]. - Data collection equipment: Lingyun Optical, Aofei Entertainment [4][4].