随着"新质生产力"理念成为中国经济高质量发展的核心驱动力，人工智能产业的发展重心正加速从技术 攻坚向场景落地与产业融合迁移。在这一趋势中，创新奇智(02121)始终坚定聚焦"AI+制造"赛道，深入 渗透工业场景，已推动多项成熟商业化案例落地，逐步构筑起差异化的竞争优势。 在业务层面，"AI+制造"战略聚焦成效显著，相关核心业务收入达5.56亿元，同比增长27%，增速高于 整体营收，印证公司前期战略调整举措切实有效，核心竞争优势进一步巩固。 值得关注的是，公司最新中报业绩展现出强劲向好态势：营收实现稳健增长、亏损幅度大幅收窄、毛利 率攀升至历史新高，多项指标预示其正快速逼近盈利拐点。 高度聚焦的战略定位、扎实的研发创新实力与高效的商业化落地能力，叠加业绩拐点将至的明确信号， 共同表明该公司股价已具备上行潜力，正成为值得市场重点关注的投资标的。 营收重回高增长轨道 盈利拐点渐行渐近 经过2024年的主动战略聚焦与业务调整，创新奇智成功剥离非核心及低效业务，于今年上半年重返高质 量增长轨道，多项财务指标呈现出健康、强劲的发展势头。 上半年，公司实现营业收入6.99亿元(人民币，下同)，同比增长22.3%;期内，经调 ...

"因为制造业的情况，客户相对来说信息化程度要弱一点，所以某种程度上是苦活，但成绩反而非常扎 实。"在2025中期业绩及经营策略沟通会上，创新奇智执行董事、CEO徐辉说。 徐辉口中的"成绩"，指的是此前刚发布的半年报。8月22日，创新奇智发布2025年上半年业绩。公司实 现整体营收6.99亿元，同比增长22.3%；毛利润2.45亿元，同比增长26.7%；毛利率同比提升1.2个百分点 至35.0%，自2023年起已连续5个报告期提升；调整后净亏损收窄至668万元，同比减少82.1%。 做制造业数字化、智能化的"苦"，行业内外所共见，但创新奇智仍交出如此成绩，令人意外。回顾2024 年，创新奇智收入规模出现一定程度收缩，但全年经营现金流、调整后损益、毛利率、制造业收入占比 均大幅改善。 这是公司战略转向、主动优化业务结构的结果。当时，徐辉提到，面对市场不确定性，公司积极主动转 型，去杠杆降风险，聚焦"AI+制造"核心业务，提升软件服务占比，增强直签客户黏性。 这一战略主轴在2025年上半年仍得以贯彻，使业绩进一步改善、收入质量进一步提升：毛利润同比增长 26.7%，增速高于收入；毛利率提升至35%，为近5—6年新高 ...

Core Viewpoint - The partnership between Innovusion (02121.HK) and KUKA Robotics marks a significant step in the integration of AI and manufacturing, focusing on the development of intelligent industrial robot systems driven by the AInnoGC industrial model [1][10]. Company Overview - Innovusion was established in 2018 and is backed by Innovation Works, specializing in enterprise-level AI solutions and "AI + manufacturing" solutions across various sectors including steel metallurgy, semiconductor panels, high-tech, automotive equipment, energy, food and beverage, and new materials [3]. - The company's development strategy is based on a "one model, one body, two wings" approach, leveraging its self-developed AInnoGC industrial model as the technical foundation and AI agents as the driving force in industrial software and robotics [4]. Industry Trends - The integration of AI into industrial robotics is increasingly recognized as a trend, with major companies like ABB and others planning to deepen their collaboration with AI technologies by 2025 [5][6]. - The concept of industrial embodied intelligence robots, which utilize large models to enhance robotic capabilities, is gaining traction, allowing robots to adapt to flexible production and complex tasks [6]. Market Position - Innovusion ranks third in China's computer vision market, fourth in machine learning platforms, first in AI industrial quality inspection solutions, and seventh in the large model application market according to IDC [7]. - Despite its strong market position, Innovusion has not yet achieved profitability, reporting adjusted net losses of 142 million, 138 million, 154 million, and 117 million yuan from 2021 to 2024 [8][9]. Financial Performance - The company reported a 21.1% decrease in R&D expenses in the previous year, amounting to 355 million yuan, attributed to improved efficiency and effective management of R&D spending [9]. - Innovusion emphasizes that the intelligent industrial robots powered by large models are still in the early stages of application, with the market landscape yet to be fully established [10].