Core Viewpoint - The rapid adoption of silicon carbide (SiC) in the new energy sector is significantly increasing its market penetration, particularly in charging modules for electric vehicles, driven by the growing demand for high-efficiency power devices [3][12]. Group 1: Collaboration and Innovations - Yuyou Green Energy announced a deepened collaboration with Infineon Technologies to enhance the application of SiC power semiconductor solutions in their charging modules, achieving an efficiency of over 97.5% [4][6]. - The partnership aims to upgrade various charging solutions, including high-quality 40kW/60kW independent air-cooled and liquid-cooled charging modules, as well as V2G (Vehicle-to-Grid) interactive solutions [4][6]. Group 2: Product Development and Efficiency - Yuyou Green Energy is actively developing multiple SiC power modules, with some products achieving a maximum conversion efficiency of 97% [7]. - The company is in various stages of development for several SiC products, including a 40kW ultra-high voltage liquid-cooled module and a 22kW bidirectional DC charging module, with ongoing design and testing phases [7]. Group 3: Market Trends and Adoption - Nearly 20 companies have recently announced their latest SiC application solutions, indicating a growing market interest in SiC power modules [10]. - The increasing power requirements for charging stations, particularly those exceeding 600kW, are driving the demand for higher voltage, power, and density in power modules, making SiC devices an ideal choice [12][14]. Group 4: Cost Efficiency and Environmental Impact - SiC devices can help reduce overall costs and improve energy efficiency, with estimates suggesting significant savings in electricity costs for charging stations using SiC modules [17]. - For example, a charging station with five 480kW chargers could save approximately 21,200 yuan in electricity costs over three years by using SiC modules, while another station could reduce carbon emissions by 12 tons annually [17].

Investment Rating - The industry rating is optimistic, expecting an overall return exceeding 5% above the CSI 300 index in the next six months [9]. Core Insights - The report highlights the rapid commercialization of exoskeleton robots, which are transitioning from specialized medical devices to applications in industrial production, outdoor activities, military training, and elder care [6]. - The global exoskeleton robot market is projected to grow significantly, with an estimated market size of USD 1.8 billion in 2024 and expected to exceed USD 12 billion by 2030, reflecting a compound annual growth rate (CAGR) of 28% [6]. - The report notes that China's "14th Five-Year Plan" includes exoskeletons as a key development area in high-end medical equipment, with some rehabilitation exoskeletons already covered by health insurance [6]. Market Performance - As of May 21, 2025, the CSI 300 index rose by 0.47%, while the machinery sector declined by 0.75%, ranking 26th among all primary industries [3]. - Within the sub-industries, lithium battery equipment saw the highest increase at 1.94%, while semiconductor equipment experienced the largest decline at 1.30% [3]. - Notable stock performances included Xunbang Intelligent (+19.99%), Zhongyou Technology (+18.18%), and Meilun Elevator (+9.99%), while Hengerd (-11.93%), Xinlong Health (-9.95%), and Shenghui Integration (-9.82%) faced significant declines [3]. Company Announcements - Jiangsu Shentong's major shareholder reduced their stake by 3% from 6.91% [4]. - Delong Laser's major shareholder plans to reduce their stake by 3% from 12.09% [4]. - Duopule's major shareholder intends to reduce their stake by 4.85% from 9.33% [4]. - Yilida has repurchased 0.0706% of its total share capital through a stock buyback [4].