涉及机器人、云计算 10月起 HE 家标准 等 实施 10月1日起，工业机器人动态稳定性试验方 法、云计算超融合系统、湿巾及类似用途产 品、养老机构康复辅助器具基本配置、全国 一体化政务大数据共享交换等一批重要国家 标准开始实施,将为规范新兴产业及未来产 业健康发展、营造良好消费环境、保障人民 群众生命财产安全提供标准支撑。 工业机器人和服务机器人国家标准 《工业机器人 动态稳定性试验方法》（GB/T 45509—2025) 推荐性国家标准,描述了工业机 器人动态稳定性试验条件,设备、轨迹洗择,步 骤、报告等。 《工业机器人 三维视觉引导系统 通用技术要 求》（GB/T 45501—2025）推荐性国家标准, 规定了用于工业机器人领域的三维视觉引导系统 的架构、基本要求、功能要求、性能要求等。 《 服 务 机 器 人 信 息 安 全 通 用 要 求 》 （ GB/T 45502—2025）推荐性国家标准,规定了服务机 器人信息安全要求和测试方法。 这些机器人领域标准的实施,将有力推动工业机 器人动态稳定性测量系统的研发与产业化,提高 机器人三维视觉系统在制造业里的应用,促进服 务机器人产品信息安全水平提升。 ...

其中，《工业机器人动态稳定性试验方法》(GB/T45509—2025)推荐性国家标准，描述了工业机器人动 态稳定性试验条件、设备、轨迹选择、步骤、报告等。《工业机器人三维视觉引导系统通用技术要求》 (GB/T45501—2025)推荐性国家标准，规定了用于工业机器人领域的三维视觉引导系统的架构、基本要 求、功能要求、性能要求等。《服务机器人信息安全通用要求》(GB/T45502—2025)推荐性国家标准， 规定了服务机器人信息安全要求和测试方法。这些机器人领域标准的实施，将有力推动工业机器人动态 稳定性测量系统的研发与产业化，提高机器人三维视觉系统在制造业里的应用，促进服务机器人产品信 息安全水平提升。 《养老机构康复辅助器具基本配置》(GB/T45933—2025)推荐性国家标准，规定了养老机构康复辅助器 具配置的基本要求和配置要求及基本配置清单。标准的实施将帮助养老机构合理配置康复辅助器具，避 免资源浪费，助力养老产业高质量发展。 9月30日，记者从市场监管总局获悉，10月1日起，工业机器人动态稳定性试验方法、云计算超融合系 统、湿巾及类似用途产品、养老机构康复辅助器具基本配置、全国一体化政务大数据共享交 ...

Core Insights - Guangzhou has released a "Robot+" application scenario demand list, focusing on 80 typical application scenarios across seven categories, aimed at accelerating the implementation of the robotics industry [1] - The robotics industry is becoming a key area of global technological competition, with Guangzhou positioning itself as a strategic hub for growth in this sector [1] - The production of industrial robots in Guangzhou is projected to reach 20,000 units in 2024, a 33% increase year-on-year, while service robots are expected to reach 90,000 units, a 22% increase [1] Industry Developments - The demand for robots in smart cities and smart parks is rapidly increasing, with companies exploring integrated solutions that connect robots, elevators, and IoT devices [2] - The government is focusing on supply-demand matching to promote innovation from laboratories to production lines, enhancing the integration of industry and application chains [2] - Future policies will emphasize application-driven development, whole machine promotion, soft and hard collaboration, and ecosystem cultivation in the robotics sector [2]

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **Chinese economy**, particularly its **industrial production**, **fixed asset investment**, **retail sales**, and **property market** performance in August 2023. Core Insights and Arguments 1. **Weak Economic Activity**: China's activity data in August showed broad weakness, missing market expectations, with industrial production growth declining to **5.2% year-on-year** from **5.7%** in July, primarily due to weaker-than-expected exports [1][9]. 2. **Fixed Asset Investment Decline**: Fixed asset investment (FAI) growth fell to **-6.8% year-on-year** in August from **-5.2%** in July, marking a new low since March 2020. This decline was attributed to adverse weather, local construction restrictions, a prolonged property downturn, and a lack of urgency from policymakers [1][12]. 3. **Retail Sales Slowdown**: Retail sales growth moderated to **3.4% year-on-year** in August from **3.7%** in July, mainly due to falling online goods sales, particularly in home appliances and communication equipment [1][13]. 4. **Services Sector Performance**: The services industry output index showed better performance, growing **5.6% year-on-year** in August, only slightly down from **5.8%** in July, indicating resilience in the services sector [1][14]. 5. **Property Market Weakness**: The property market continued to show signs of weakness, with new home starts down **20.3% year-on-year** and property sales declining by **10.3%** in volume terms in August [1][15]. 6. **Labor Market Conditions**: The nationwide unemployment rate increased to **5.3%** in August from **5.2%** in July, indicating ongoing labor market challenges [1][17]. 7. **GDP Growth Forecast**: Despite the sluggish domestic demand, the GDP tracking model suggests a slight upside risk to the Q3 real GDP growth forecast of **4.6% year-on-year**, driven by industrial production and services sector performance [1][18]. Additional Important Insights - **Sector-Specific Performance**: The decline in industrial production was led by slower output growth in ferrous metal smelting, power generation, and general equipment industries, which offset gains in non-ferrous smelting [1][9][25]. - **Investment Growth by Sector**: Year-on-year growth in manufacturing, infrastructure, and property investment dropped significantly in August, indicating broad-based weakness across sectors [1][12]. - **Consumer Behavior Trends**: The decline in online sales growth reflects changing consumer behavior, with expectations of further slowdown due to unfavorable base effects [1][13]. - **Policy Implications**: Incremental and targeted easing measures are deemed necessary in the coming quarters to address the ongoing economic challenges, despite the resilient export performance [1][18]. This summary encapsulates the key points from the conference call, highlighting the current state of the Chinese economy and its various sectors.

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **Industrial Automation (IA)** sector in **China** and highlights the ongoing trends in demand and market dynamics as of **July 2025** [1][2][13]. Core Insights - **Demand Trends**: - Local IA suppliers experienced a sales growth of **+19% YoY** in July, up from **+18% YoY** in June and **+15% YoY** in May [2][13]. - Inovance's IA order growth improved to over **20% YoY** in July, up from **15% YoY** in June [2][13]. - Key sectors showing solid growth include **logistics, hoisting, battery, auto, woodworking, food & beverage, textile, machine tool, and packaging** [2][13]. - **Overseas Brands Performance**: - Sales growth for leading overseas IA suppliers moderated to **+1% YoY** in July from **+6% YoY** in June [3][13]. - Yaskawa's servo sales growth remained strong at **+25% YoY**, while inverter sales in China dropped to **-11% YoY** [3][13]. - ABB's inverter sales fell to **-6% YoY** from **+10% YoY**, indicating competitive pricing pressures [3][13]. - **Taiwanese Peers**: - Hiwin's sales were weak at **-6% YoY** in July, while Airtac maintained a firm growth of **+7% YoY** [4][13]. - Management expects automation demand to pick up in Q4 as interest rates are cut in the EU and US [4][13]. Macro Indicators - **Manufacturing PMI**: - The Manufacturing PMI declined slightly to **49.3** in July from **49.7** in June, indicating softened confidence in the manufacturing sector [5][67]. - High-end, large, and small companies' PMIs all dropped, while mid-sized companies' PMI recovered to **49.5** [5][67]. - **Business Conditions Index (BCI)**: - The BCI remained at **53.4** in July, down from a peak of **57.7** in April, reflecting cautious investment outlooks among SMEs [67]. - **Export Growth**: - Container export volumes in major ports increased to **+1.9%** in June from **+1.3%** in May, while total exports improved to **+7.2%** in July from **+5.9%** [67]. Sector-Specific Insights - **Servo and Inverter Demand**: - Projected servo demand growth remained at **+12% YoY** in July, while inverter demand fell back to **-2% YoY** [13][18]. - The top downstream applications for servos include **lithium battery, 3C electronics, industrial robots, solar, and machine tools** [24][30]. - **Downstream Demand Trends**: - Demand for servos from top applications slowed to **+15% YoY** in June from **+82% YoY** in May, primarily due to deteriorating solar demand [26][30]. - Inverter demand from top applications improved slightly to **+3% YoY** in June from **+2% YoY** in May, driven by recovery in machine tools and power sectors [26][30]. Conclusion - The IA sector in China is experiencing a divergence in growth between local and overseas suppliers, with local players showing stronger performance amid ongoing macroeconomic challenges. The outlook for the second half of 2025 remains cautiously optimistic, supported by favorable government policies and potential recovery in key sectors.

Core Viewpoint - The return of manufacturing to the U.S. faces critical challenges due to a shortage of robotics engineers and lagging robot application deployment, which threatens the country's competitive edge against China [1][10]. Group 1: Talent Shortage - The number of engineering graduates in China is 7.78 times that of the U.S., with China producing over 350,000 mechanical engineers annually compared to fewer than 45,000 in the U.S. [2] - The educational gap between the U.S. and China is significant, impacting the future potential for the robotics industry expansion [2]. - Rising education costs and increased barriers to obtaining STEM degrees in the U.S. have diminished students' interest in engineering fields [2][15]. Group 2: Systematic Strategies in China - China has implemented a systematic strategy for engineering talent development, covering higher education, vocational schools, and government-led apprenticeship programs [4]. - Recent policies in China have elevated humanoid robots and embodied intelligence to a national strategic level, ensuring a comprehensive talent supply chain [4][14]. Group 3: Automation Challenges - High costs, complexity, and technical barriers hinder the widespread adoption of automation in the U.S., particularly affecting small and medium-sized manufacturers [5][7]. - Open-source projects like ROS-Industrial aim to lower application barriers, but the lack of supporting education and training systems limits their effectiveness [7]. Group 4: Industry Application and Efficiency - Robotics technology enhances human capabilities, particularly in logistics sorting, allowing engineers to focus on system optimization and exception handling [9]. - Human-machine collaboration can significantly improve production efficiency and attract high-quality talent to factories [9]. Group 5: Competitive Landscape - The U.S. manufacturing sector is experiencing capacity fluctuations and supply chain vulnerabilities, reflecting dual constraints of labor and technology [10][12]. - China is making significant investments in automation infrastructure and technical education, enhancing its production capacity and resilience against supply chain risks [10][12][14]. Group 6: Structural Issues in the U.S. - The essence of the U.S. manufacturing return issue lies in systemic structural problems, including a lack of skilled labor and outdated infrastructure [15]. - The high labor costs in the U.S. compared to developing countries pose a significant barrier to manufacturing return [15].

Investment Rating - The industry investment rating is "In-Line" [4]. Core Insights - The report indicates solid growth in the industrial robot sector, with China's industrial robot production growing by 36% year-on-year in May, up from 34% in the previous four months [7]. - Global players such as ABB, Fanuc, Kuka, and Yamaha saw a combined shipment increase of 3% year-on-year in May, compared to a 2% increase in the first four months of 2025 [7]. - The growth is primarily driven by demand from the automotive sector, consumer electronics (3C), and exports, with expectations of intense competition and sustained market share gains for domestic brands like Estun and Inovance [7]. Summary by Sections Industry Overview - The industrial robot operations in China are experiencing robust growth, with significant contributions from various sectors [7]. Production and Shipment Data - China's industrial robot production increased by 36% year-on-year in May, supported by strong demand from the automotive and consumer electronics sectors [7]. - The report highlights that Fanuc's inventory levels have normalized, allowing for continuous shipments to key customers such as Li Auto and Xiaomi [7]. Market Dynamics - The competition in the industrial robot market remains intense, with domestic brands expected to maintain their market share gains [7].

Core Viewpoint - The financial reports of 75 listed companies in the robotics sector reveal a significant divergence in performance, with industrial robot manufacturers facing substantial challenges while service robots and AI companies show growth [1][12]. Industrial Robots - Among 7 industrial robot manufacturers, 2 experienced declines in both revenue and net profit, 4 had single declines, and only 1 saw increases in both metrics [2]. - The leading company, Huichuan Technology, reported a revenue of 37.041 billion yuan, but its net profit fell by 9.62% due to a decrease in gross margin [3]. - Estun and Efort faced severe declines, with Estun's net profit plummeting by 700.14% [3][4]. Components - In the components sector, 21 companies showed mixed results: 5 had declines in both revenue and profit, while 9 reported increases in both [5][6]. - Sanhua Intelligent Controls led with a revenue of 27.947 billion yuan and a net profit of 3.099 billion yuan, marking a 13.8% increase in revenue [7]. Integrated Applications - The integrated applications sector included 25 companies, with 14 experiencing declines in both revenue and profit, while 9 reported increases [8][10]. - Industrial Fulian dominated with a revenue of 609.135 billion yuan and a net profit of 23.216 billion yuan, accounting for over 80% of the sector's total revenue [10][11]. Service Robots and AI - In the service robots and AI sector, 17 companies were analyzed, with 8 showing increases in both revenue and profit, while 6 had declines in one or both metrics [13][14]. - Hikvision led with significant revenue, with its overseas and innovative business income surpassing 50% of total revenue for the first time [15][16]. Special Robots - The special robots sector included 5 companies, with 3 experiencing declines in both revenue and profit, and only 1 company reporting increases [17][18]. - The largest profit was reported by CITIC Heavy Industries, with a net profit of 3.75 billion yuan from a revenue of 80.34 billion yuan [19].