Investment Rating - The report maintains a "Buy" rating for the mechanical industry [1] Core Viewpoints - The report highlights the positive development trend of the liquid cooling industry, driven by the increasing power consumption of chips and the need for efficient cooling solutions [8][9] - The human-shaped robot sector is expected to see significant breakthroughs in 2025, with mass production leading to a more practical application of robots in various industries [7] - The report emphasizes the importance of government policies, such as the "Artificial Intelligence +" initiative, in fostering the growth of intelligent products and technologies [5] Summary by Relevant Sections Human-Shaped Robots - Recent corporate changes in companies like Wujie Wisdom indicate a growing focus on the development of companion robots for healthcare [4] - NVIDIA has launched the Jetson AGX Thor platform for robotics applications, which is now available globally [4] - The patent granted to Yushu Technology for a human-shaped robot foot design showcases innovation aimed at enhancing durability and responsiveness [4] Liquid Cooling - A significant project by China Telecom utilizing immersion liquid cooling technology has been completed, demonstrating a 30% reduction in energy consumption compared to traditional cooling systems [8] - The increasing power demands from high-performance chips necessitate a shift from air cooling to liquid cooling solutions, with government mandates pushing for lower energy usage in new data centers [8] - The report suggests that companies like Invid and Highlan will benefit from advancements in liquid cooling technologies [9] Machine Tools & Cutting Tools - Japan's machine tool orders showed a 4% year-on-year increase in July 2025, indicating a recovery in demand [10] - China's metal cutting machine tool production increased by 13.9% year-on-year in the first seven months of 2025, reflecting a positive trend in the industry [10] - The report recommends focusing on companies like Kede CNC and Haitan Precision for potential investment opportunities in this sector [10] Engineering Machinery - The commencement of major infrastructure projects, such as the Yarlung Zangbo River hydropower project, is expected to drive demand for engineering machinery [15] - Excavator sales in July 2025 increased by 25.2% year-on-year, with domestic sales up by 17.2% [16] - The report suggests investing in leading companies like Zoomlion and SANY Heavy Industry as they are poised to benefit from the recovery in demand [16] Semiconductor Equipment - The report notes that the implementation of reciprocal tariffs will accelerate the domestic substitution of key semiconductor equipment [19] - The emphasis on domestic production capabilities is highlighted by the significant capital injection into the semiconductor industry through the third phase of the National Integrated Circuit Fund [20] - Companies like Zhongke Feimeng and Fuchuang Precision are recommended for investment due to their roles in the semiconductor equipment sector [20] New Energy Equipment - The establishment of a sodium-ion battery production facility in Yunnan reflects the growing investment in new energy technologies [21] - Companies like XWANDA are advancing in solid-state battery technology, which is expected to revolutionize energy storage solutions [23] - The report highlights the potential for equipment manufacturers to benefit from the shift towards solid-state battery production [23] Low Altitude Economy - The report discusses the rapid development of the low-altitude economy, with significant investments in infrastructure and technology [24] - The establishment of a low-altitude safety laboratory in Hefei indicates a commitment to developing this emerging sector [25] - Companies like EHang Intelligent and others involved in low-altitude technologies are recommended for investment as the market expands [26]

Core Insights - Hangzhou Donghong Technology Co., Ltd. and Hangzhou Yundong Technology Co., Ltd. signed a "robotics business cooperation agreement" to jointly develop and sell quadruped robots for emergency and firefighting scenarios, leveraging each other's technological strengths [2][3] - The collaboration aims to integrate embodied intelligence with artificial intelligence, enhancing the adaptability and stability of robots in complex environments [2] - Prior to the agreement, both companies collaborated on a live broadcast project that showcased a robotic dog's perspective, attracting 100,000 online viewers and setting a benchmark for the application of robots in media and tourism [2][3] Company Collaboration - The partnership will focus on the joint development of remote-controlled robotic products, specifically incorporating Donghong's BlackEye Vision system into Yundong's robotic dog series [2] - Both companies expressed optimism about the potential for their collaboration to create industry benchmark projects and accelerate the commercialization of embodied intelligence [3] - The integration of Donghong's long-distance remote control technology is expected to open new application spaces within the robotics industry [2][3] Industry Impact - The collaboration is anticipated to significantly enhance the application value of robots in complex scenarios such as emergency response, firefighting, and inspection [3] - The partnership is not only about product development but also about exploring practical applications within the industry, potentially leading to a more complete industrial ecosystem [3]

当虹科技官微介绍，此次签约，标志着双方将结合云深处科技在具身智能机器人领域的技术优势和当虹 科技在机器人超远距离远程操控的技术优势，不仅联合研发和销售针对应急、消防等场景的四足机器 人，同时联合推出远程操控系列机器人产品——云深处科技部分系列机器狗产品，在特定行业应用方案 内将标配使用当虹科技BlackEye Vision超远距离远程操控系统。 封面图片来源：视觉中国-VCG211443149939 每经杭州8月29日电（记者叶晓丹）科创板上市公司当虹科技和"杭州六小龙"之一的云深处科技签署"机 器人业务合作协议"，双方开启"具身智能+人工智能"融合发展合作。 ...

Core Insights - Yunshen Technology and Danghong Technology signed a "robotics business cooperation agreement" to jointly develop and sell quadruped robots for emergency and firefighting scenarios [1] - The collaboration will also introduce a series of remote-controlled robotic products, with Yunshen Technology's specific series of robotic dogs equipped with Danghong Technology's BlackEye Vision ultra-long-distance remote control system for specific industry applications [1]

8月21日，杭州西湖边，一只灵巧的机器狗在北山街穿梭。它不时停下来打量西湖夏荷，甚至与路 过的小朋友打招呼。过往的游客纷纷驻足拍照，好奇地发问："机器狗也能自己逛西湖？" 从应急救援到工业巡检，从巡逻检查到媒体报道，机器人正在成为人体的延伸。"那些人类难以抵 达，或需冒生命危险、付出巨大成本的任务，都有望通过BlackEye Vision超远距离远程操控系统来帮我 们实现。"当虹科技相关负责人说。 事实上，这只机器狗并非独自行动，它的"主人"——操控机器狗的工作人员，正在1300多公里外的 山西文博会现场。这是由山西广播电视台及旗下的新闻综合服务客户端黄河plus、杭州企业当虹科技和 云深处科技联合打造的传媒业界首次跨越千里的机器狗视角实时直播。 同时，其强大的多模态处理能力可将视频、音频、激光雷达点云、控制信令、文本信息同步传输， 意味着后端工作人员可以通过三维空间数据感知地形起伏、障碍物距离，获得接近真实的"临场感"，从 而实现更加精准的远程控制。 "远程直播成功，还拓展了文旅与传媒领域的应用场景。"在当虹科技相关负责人看来，机器人可以 代替记者到平时难以抵达的特殊新闻现场，比如火灾、地震现场等，这些现场 ...