6年GDP增量相当于再造一个深圳 大湾区内地9市高新技术企业超过7.1万家 据世界知识产权组织今年发布的全球百强创新集群排行榜，"深圳—香港—广州"创新集群首次超越日 本"东京—横滨"创新集群，成为全球第一大创新集群；以广州实验室、鹏城实验室为引领的实验室体系 不断完善，鹏城实验室牵头构建的"中国算力网"国家重大基础设施，实现京津冀、长三角、成渝等25个 核心城市算力资源智能调度；广东省建有和在建的国家重大科技基础设施达10个，初步形成以信息、生 命、材料、能源领域为主的世界一流重大科技基础设施集群。 全省研发经费投入突破5100亿元继续领跑全国，研发投入强度达到3.6%，深圳研发经费首次超过上海 居全国城市第2位，广州研发经费投入首次突破千亿。企业创新主体地位持续强化。截至2024年底，大 湾区内地9市高新技术企业超过7.1万家（江苏5.7万家），国家级制造业单项冠军企业190家，专精特 新"小巨人"企业2089家；华为、腾讯、比亚迪（002594）等科技领军企业国际竞争力持续增强。 全球每3台工业机器人1台"广东造" 全球每3台工业机器人就有1台"广东造"，大湾区专利能力位居全球四大湾区之首……调研报告指 ...

Apple supplier BOE Technology Group, the world's largest display maker, has established a new subsidiary to lead its foray into robotics and artificial intelligence software. Launched on Thursday, Beijing BOE Robot has a registered capital of 200 million yuan (US$28 million), according to corporate data provider Qichacha. The subsidiary was described as a developer of industrial robots and AI software, joining other major manufacturers that are pursuing robotics-related development projects. Do you have ...

【深度】翼菲智能港股IPO：2024年售后服务费翻了3倍最大客户收入暴跌80后董事张子超全年领薪超 900万元 近日，翼菲智能收到证监会关于境外上市的备案反馈意见，具体反馈如下，请公司就以下事项补充说 明，请律师核查并出具明确的法律意见： 一、关于股权变动。（1）请说明你公司及前身翼菲自动化历次增资及股权转让定价依据，是否实缴出 资，是否存在未履行出资义务、出资方式存在瑕疵的情形；（2）请说明员工持股平台济南梓遒、济南 知秋、济南云帆出资情况相关变更登记的办理进展。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 二、关于股东情况。（1）请说明春华投资相关外汇登记办理进展，并结合你公司实际控制人偿债能力 等情况，补充说明本次发行完成前后，你公司实际控制人股权质押情况是否可能导致你公司控制权发生 变化，是否导致你公司存在《境内企业境外发行证券和上市管理试行办法》第八条规定的禁止性情形； （2）请说明你公司持股5%以上股东的具体穿透情况；（3）请说明近12个月内新增股东入股价格的合 理性，该等入股价格之间存在差异的原因，是否存在入股对价异常的情况；（4）请说明玉环投资、万 象控股、曹娥江 ...

沿沪宁产业创新带（以下简称"沿沪宁"），正在不断走深做实。自2019年写入《长三角一体化发展规划 纲要》，2022年国家发改委出台《沿沪宁产业创新带建设方案》和2025年三省一市发布《关于促进长三 角科技创新协同发展的决定》，今年以来，上海市普陀区与南京、无锡、常州、苏州、南通、扬州、镇 江、泰州等八市，携手推动沿沪宁产业创新带建设，逐渐形成一条辐射力强、分工凸显的创新走廊。 机器人是沿沪宁产业链完整、企业数量多、发展质量高的产业之一。沿沪宁机器人产业发展状况如何？ 产业分工呈现怎样的格局？本报告采用了产业通、企查查、IT桔子、国家标准化管理委员会、国家知识 产权局和上市公司年报等数据，梳理沿沪宁机器人产业发展图谱。 本文主要发现如下： • 企业分布：沿沪宁汇聚全国9%的机器人企业，主要集中于上海浦东和苏州昆山。企业整体质量较高， 上海龙头企业优势突出。 •产业分工：上海大模型技术引领具身智能，南京工业机器人，苏州服务机器人，无锡精密电子制造， 常州电池电机，南通机器人小镇，其他地区蕴藏广阔应用场景潜力。 •经营状况：2024年沿沪宁机器人上市公司总体经营表现转弱，上游企业利润走低，中游企业单价高盈 利少，下 ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Manufacturing and Industrial Automation in China - **Key Indicators**: Manufacturing Fixed Asset Investment (FAI) and production metrics for various sectors Core Insights 1. **Manufacturing FAI Decline**: Manufacturing FAI decreased by **-2.0% year-on-year (yoy)** in August, a significant drop from **-0.2% yoy** in July, primarily due to declines in electronics and basic materials FAI [3][51] 2. **Chemical and Steel FAI**: Chemical FAI was reported at **-5.2% yoy** and steel FAI at **-4.1% yoy**, negatively impacting companies like Supcon and Baosight [3][24][26] 3. **Industrial Robot and Machine Tool Production**: Industrial robot production increased by **14% yoy** but remained flat month-on-month (mom). Machine tool production rose by **16% yoy**, also flat mom, indicating a stable production environment [3][40] 4. **Export Trends**: Key equipment exports remained stable, with PIMM export value and volume increasing by **24% yoy** and **34% yoy**, respectively. Machine tools saw a value increase of **19% yoy** but a volume decrease of **20% yoy** [4][29][34] 5. **Order Trends for Coverage Companies**: Orders for coverage companies were broadly steady in August, with notable growth in Inovance's IA orders at **+20-30% yoy**. However, Yiheda's orders were impacted by a **-12% yoy** decline in the automotive sector [4][20][11] Additional Important Insights 1. **Capex Financing Weakness**: Capex financing showed a **-12% yoy** decline in August, following a drastic **-96% yoy** drop in July, indicating a tightening investment environment [64] 2. **Profitability Metrics**: The profit before tax (PBT) margin for industrial enterprises with revenue over **Rmb20 million** was **5.5%** in Q2 2025, slightly down from **5.6%** in Q1 2025 [71] 3. **Electricity and Cement Production**: Electricity generation increased by **3.2% yoy** in August, while cement production saw a decline of **-6.2% yoy** [81][88] 4. **Consumer Market Trends**: Passenger vehicle retail sales and production increased by **5%** and **11% yoy**, respectively, indicating a recovery in the automotive sector [90] 5. **NEV and Renewables**: Electric vehicle (EV) sales and production surged by **27% yoy** in August, reflecting strong demand in the new energy vehicle market [107] Conclusion The manufacturing sector in China is experiencing a mixed environment with declining FAI, stable production metrics, and selective strength in orders. The overall economic backdrop remains challenging, with significant declines in capex financing and profitability metrics, while certain sectors like EVs show robust growth.

Core Viewpoint - The 11th China Robot Industry Summit and the 8th CEO Roundtable Conference will focus on "AI + Robotics: Unlocking New Opportunities in Diverse Scenarios," aiming to explore the integration of AI and robotics in various applications and the future development of the industry [17]. Event Overview - The event is organized by Donghao Lansheng Group and supported by the Shanghai Robot Industry Association, featuring a combination of exhibition, communication, trade, and services related to robotics technology and applications [2]. - The forum will take place on September 24, 2025, at the National Exhibition and Convention Center in Shanghai, with a schedule that includes speeches from government leaders and industry experts [5][6]. Key Highlights - Leaders from the Ministry of Industry and Information Technology and the Shanghai Municipal Government will deliver opening remarks and announce relevant industrial policies [4]. - CEOs from renowned domestic and international robotics manufacturing and application companies will discuss market trends, challenges, and future prospects in the robotics industry [4]. Forum Agenda - The agenda includes speeches from government officials, industry experts, and the presentation of awards and directories related to intelligent robotics in Shanghai [5][6]. - A roundtable discussion will focus on how AI and robotics can reshape diverse future scenarios, featuring prominent industry leaders [8]. Industry Insights - The forum aims to analyze the bottlenecks in the development of the robotics industry, share innovations in robotics technology, and explore new paths for the integration of AI and robotics [17]. - The event will provide a platform for discussing the application of robotics in various sectors, thereby supporting the sustainable growth of the robotics industry in China [17].

Core Viewpoint - The article promotes a workshop on embodied intelligence organized by the Beijing Zhiyuan Artificial Intelligence Research Institute, highlighting the latest advancements in the field and inviting participants to explore the future of embodied intelligence [1]. Event Details - Date and Time: September 24, 2025, from 14:00 to 17:30 [2] - Location: Zhiyuan Building, 1st Floor Auditorium, No. 150 Chengfu Road, Haidian District, Beijing [2]. Industry Participants - The article lists various companies involved in different sectors of robotics, including: - **Industrial Robotics Companies**: Estun Automation, Efort Intelligent Equipment, Feixi Technology, and others [7][8]. - **Service and Special Robotics Companies**: Yijiahe, Jingpin Special Equipment, Qiteng Robotics, and others [8]. - **Medical Robotics Companies**: Yuanhua Intelligent, Tianzhihang, Sizherui Intelligent Medical, and others [8]. - **Humanoid Robotics Companies**: UBTECH Robotics, Yushun, Yundong, and others [9]. - **Embodied Intelligence Companies**: Kuawei Intelligent, Galaxy General, Qianxun Intelligent, and others [10]. - **Core Component Companies**: Lide Harmonic, Yinshi Robotics, Kunwei Technology, and others [11]. - **Educational Robotics Companies**: Silicon Step Robotics, Shihe Educational Robotics, and others [11]. Community Engagement - The article encourages joining the "Robot Lecture Hall" reader discussion group to share insights and discuss topics related to robotics and technology advancements [12].

Summary of China Industrials Update Industry Overview - The report focuses on the **China Industrials** sector, particularly capital goods, construction machinery, lithium battery equipment, and automation [6][7][8]. - The overall industry view is categorized as **In-Line** [2]. Key Insights Sector Cycle and Outlook - A positive outlook for **capital goods** is driven by: - Industrial upgrades and technology iterations - Domestic replacement cycles - Overseas opportunities, particularly in lithium battery equipment and construction machinery [6]. - The sector is transitioning from a **down-cycle** of 3-4 years to an **up-cycle** [7]. - **Solar equipment** is identified as the weakest segment due to overcapacity and sluggish demand [7]. Performance Recap - **1H25 sector performance** shows mixed results across various sub-sectors: - Automation: +1% y-y - Heavy-duty trucks: +7% y-y - Lithium battery equipment: +39% y-y - Solar equipment: -41% y-y [11][12][13]. - The **trading P/E** for many sub-sectors is above the five-year median, indicating potential overvaluation [15]. Long-term Drivers - Three long-term drivers for growth include: 1. AI technology diffusion into intelligent manufacturing 2. Advanced equipment localization 3. Global expansion [6]. Heavy-Duty Trucks (HDT) - HDT sales grew by **7% y-y** in 1H25, with a forecast of **1 million units** for the full year [54]. - The market is expected to see a **5% y-y growth** in 2026, driven by domestic replacement demand [56]. Lithium Battery Equipment - Demand for lithium battery equipment is projected to grow by **46%** in 2025 and **24%** in 2026, driven by: - Capacity expansions by leading players - The first major replacement cycle starting in 2025 [118][121][124]. Solar Equipment - The solar equipment market is expected to remain weak, with a forecast of single-digit growth in global installations for 2026-27 [125][127]. - China may face a shortfall in solar installations in 2026-27 due to saturated downstream demand [128]. Automation and Robotics - The automation market is in a mild recovery stage, with expectations for continued growth in 2026-27 [68][69]. - Industrial robot shipments grew by **20% y-y** in 2Q25, with significant contributions from the auto and electronics sectors [107][112]. Additional Insights - **Construction machinery** utilization rates have declined slightly, indicating potential challenges in the sector [42]. - The report highlights the importance of **localization** in manufacturing, with expectations for increased market share for domestic players [114][115]. Conclusion - The China Industrials sector is poised for recovery, particularly in capital goods and automation, while facing challenges in solar equipment. The focus on technological advancements and domestic demand will be crucial for sustained growth in the coming years.

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the **China Industrial Indicators**, focusing on the manufacturing sector and related industries such as machine tools and industrial robots [1][3][38]. Core Insights and Arguments - **Manufacturing Fixed Asset Investment (FAI)**: - Manufacturing FAI decreased by **-0.2% year-over-year (yoy)** in July, a significant drop from **+5.6% yoy** in June, largely due to declines in energy, chemical, and basic material investments [3][49]. - The **July manufacturing PMI** was reported at **49.3**, slightly down from **49.7** in June, indicating a contraction in manufacturing activity [45][52]. - **Machine Tool Production**: - Machine tool production volumes increased by **+20% yoy** in July, with a month-over-month (mom) change of **+0%**, contrasting with a historical seasonal decline of **-8% mom** [1][38]. - Exports of machine tools showed a mixed performance, with export value at **+18% yoy** but volume down **-8% yoy** in June [32]. - **Industrial Robots**: - Production of industrial robots rose by **+24% yoy** in June, although it experienced a **-15% mom** decline [40]. - **Order Trends**: - Among 32 covered companies, order trends were stable but varied significantly; six companies saw improvements while six experienced growth moderation, particularly in battery and electronics sectors [3][8]. - Notable performers included **Inovance**, which reported a **+20% yoy** increase in July orders, attributed to company-specific factors rather than market-wide demand [3][19]. - **Sector Preferences**: - The report suggests a preference for a **Defensive + AI** investment strategy amid slowing manufacturing capital expenditures, recommending stocks like **Nari Tech**, **AVIC Jonhon**, and **CRRC H** for defensive plays, while highlighting **Sanhua H/A** and **Kstar** in the humanoid robot and AIDC sectors [3][7]. Additional Important Insights - **Capex Financing**: - Capex financing saw a dramatic decline of **-96% yoy** and **-99% mom** in July, contrasting sharply with a **+2% yoy** increase in June [61]. - **Profitability Metrics**: - The profit before tax (PBT) margin for industrial enterprises with revenue over **Rmb20 million** was **5.5%** in Q2 2025, slightly down from **5.6%** in Q1 2025 [68]. - Return on equity (ROE) improved to **8.7%** in Q2 2025 from **8.4%** in Q1 2025 [70]. - **Electricity and Production Trends**: - Electricity generation increased by **+4.9% yoy** in July, while steel production decreased by **-1.4% yoy** [78][81]. - Cement production also saw a decline of **-5.6% yoy** in July [85]. - **Consumer Trends**: - Passenger vehicle retail sales and production increased by **+6%** and **+12% yoy**, respectively, indicating a recovery in the automotive sector [87]. This summary encapsulates the critical insights from the conference call, highlighting the current state of the manufacturing sector in China, key performance indicators, and investment recommendations.

Core Insights - Sichuan Beichen Zhiyuan Technology Co., Ltd. has been established with a registered capital of 5 million RMB and is led by legal representative Wei Huabo [1] Company Overview - The company is engaged in a wide range of activities including technology services, development, consulting, and transfer, as well as software sales [1] - It specializes in the research and sales of intelligent robots, industrial robots, and service consumer robots [1] - The company also focuses on manufacturing and sales of mechanical and electrical equipment, general equipment, and various electronic products [1] Business Scope - The operational scope includes maintenance and installation services for industrial robots and mechanical equipment, as well as battery manufacturing and sales [1] - The company is involved in internet sales, import and export of goods, and various technology-related services [1] - It has specific licensed projects such as food internet sales and retail, as well as second-class value-added telecommunications services [1]