The US Department of Commerce announced on Wednesday (14th) the imposition of a 25% national security tariff on certain high-end semiconductors.

On Thursday (15th), a White House official described this move as a "phase one" action to protect the industry, and the content of future announcements may depend on the progress of negotiations with various countries and companies, according to a Reuters report.
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AAStocks Financial News
Web Site: www.aastocks.com

深圳2026年1月16日 /美通社/ -- 近日，晶泰科技（2228.HK）孵化企業希格生科（Signet Therapeutics）宣佈其與晶泰科技合作發現的第二條創新藥管線 SIGX2649 已完成臨床前研究，即將向中、美監管機構同步提交新藥臨床試驗（IND）申請，相關數據將亮相2026 年美國癌症研究協會年會（AACR Annual Meeting）。SIGX2649 是一款潛在首創新藥（first-in-class）或同類最優（best-in-class）的泛 TEAD 抑制劑，在實體瘤治療領域有廣泛的藥物市場。繼全球首款瀰漫性胃癌靶向藥 SIGX1094 進入臨床 I 期後，這是晶泰科技與希格生科合作的第二條創新藥管線開啟臨床申報。未來，晶泰科技有權獲得該管線商業化收益最高達兩位數的可觀比例分成。接連兩條管線達成里程碑，充分展現了晶泰科技平台持續產出管線資產的研發突破能力，並進一步印證了 「AI+類器官」 研發範式的臨床轉化效率。

TEAD 抑制劑作為靶向 Hippo 通路的核心靶點，在間皮瘤、肝癌、肺癌等實體瘤治療中具有廣闊前景，其研發近年來成為腫瘤治療領域的新熱點。實體瘤約佔全部腫瘤發病的90%，2024年全球市場規模達2269.7億美元，預計2032年將突破5324.8億美元。然而，TEAD蛋白家族存在四種功能與表達模式各異的亞型，其抑制劑需在強效抑制與安全性間取得平衡，全球範圍內尚無上市藥物，進展最快的 TEAD 抑制劑尚處於Ⅰ期臨床階段。

SIGX2649 是晶泰科技與希格生科基於 「AI+類器官」 合作研發的泛 TEAD 抑制劑。臨床前數據顯示，SIGX2649 能有效地抑制四種 TEAD 亞型，並促進轉錄抑制因子 VGLL4 與 TEAD 的結合，實現「雙重阻斷」。基於這一差異化的機制，SIGX2649 相較於其他 TEAD 抑制劑擁有更強的抗腫瘤活性，且腎靶向毒性顯著更低：在多種體外腫瘤模型中，SIGX2649均顯示出優異的抗增殖活性；在體內模型中，它表現出強大的抗腫瘤功效、良好的藥代動力學特性。這些優勢使 SIGX2649 有望成為 Hippo 通路領域的 first-in-class/best-in-class 靶向藥物，並有機會通過罕見腫瘤適應症的開發獲得優先評審政策支持，從而加速完成臨床試驗，為存在巨大未滿足臨床需求的特殊實體瘤患者帶來新的治療希望。此外，在與 RAS 通路抑制劑聯用時，SIGX2649 在 KRAS 突變實體瘤中引發了顯著的協同效應，展現出更廣泛的藥物聯用潛力。

在 SIGX2649 的藥物發現中，晶泰科技依托其 AI+ 機器人的智能藥物研發平台，聯合希格生科的類器官模型技術，高效協同藥物理性設計與更接近人體真實環境的藥效評估，為找到活性優越、結構新穎、臨床成功率更高的藥物分子奠定核心基礎。

項目進程中，晶泰科技首先通過其 AI 平台生成百萬量級靶向 TEAD 蛋白的活性分子庫，並借助高精度計算化學工具，對分子的活性、亞型選擇性、結構新穎性及可合成性等關鍵性質進行多維度計算評估，快速完成類藥分子庫從百萬級到百級的精準收斂。在此基礎上，結合希格生科類器官模型開展高效篩選，晶泰科技成功獲得多類針對不同亞型活性優異、分子骨架新穎的先導化合物。通過多輪物理模型與 AI 模型結合的 ADMET 性質評估及迭代優化，晶泰科技構建了活性、成藥性兼具且亞型選擇性多樣化的候選分子庫。最終經系統的體內藥效學與安全性驗證，確定泛 TEAD 抑制劑 SIGX2649 為臨床前候選化合物（PCC）。

此前，晶泰科技與希格生科合作的首個管線 SIGX1094 憑借其突破性潛力，已獲得「醫藥界諾貝爾獎」蓋倫獎（Prix Galien）提名並進入 I 期臨床。作為全球領先的 AI 藥物研發引擎，晶泰科技通過 SIGX1094、SIGX2649 等合作研發管線的連續成功，持續驗證了其 AI+ 機器人藥物研發平台的臨床轉化與商業變現能力。未來，公司將進一步發揮已獲驗證的平台優勢，廣泛參與全球創新藥的研發進程，驅動更多高潛力管線的源頭創新，助力合作夥伴加速開發具有市場潛力與差異化競爭力的創新藥物，持續為產業各方創造價值。

關於希格生科 

希格生科是全球 「類器官+AI」 藥物研發模式的先行者，是深圳市專精特新企業，並獲得國家高新技術企業認定。公司最初誕生於哈佛大學校園，於 2020 年底正式落地深圳，至今已完成近 3 億元的融資及項目資助。目前公司具有四條藥物管線，首條管線開發全球首款瀰漫性胃癌靶向藥 SIGX1094，先後獲得了美國 FDA 和中國 NMPA 的 IND 批件，並獲得美國 FDA 孤兒藥資格認定及快速通道認定，已邁入一期臨床試驗階段。

希格不僅是 Signet 的音譯，而且秉承 「希冀滿懷，格物致知」 的願景，公司利用接近病人基因組學特徵的類器官疾病模型在藥效評價及新靶點發現中的關鍵作用，結合 AI 人工智能篩選、合成和優化小分子化合物，開發 first-in-class 創新靶向藥。2025 年 4 月，美國 FDA 正式發佈聲明，明確支持類器官和 AI 技術逐步替代傳統動物實驗，充分驗證了其技術佈局的前瞻性與科學性。

關於晶泰科技

晶泰科技（「XtalPi Holdings Limited」，股份簡稱：晶泰控股，XTALPI，股票代碼：2228.HK）由三位麻省理工學院的物理學家於 2015 年創立，是一個基於量子物理、以人工智能賦能和機器人驅動的創新型研發平台。公司採用基於量子物理的第一性原理計算、人工智能、高性能雲計算以及可擴展及標準化的機器人自動化相結合的方式，為製藥及材料科學（包括農業技術、能源及新型化學品以及化妝品）等產業的全球和國內公司提供藥物及材料科學研發解決方案及服務。

成都2026年1月16日 /美通社/ -- 2026年1月12日至15日，第 44 屆摩根大通醫療健康年會（JPMHC）在美國加利福尼亞州舊金山隆重舉行。四川科倫博泰生物醫藥股份有限公司（「科倫博泰」或「公司」，6990.HK）總裁兼首席執行官葛均友博士受邀出席會議，並於當地時間 1 月 15 日上午發表主題演講，集中呈現公司在藥物研發、商業化及全球化方面的最新成果，並闡述公司的創新戰略及未來發展規劃。

自 2012 年創新啟程以來，科倫博泰已快速成長為中國創新藥領域的領導者，構建了差異化的技術平台與研發管線。依託全球領先的抗體偶聯藥物（ADC）及新型偶聯藥物（DC）技術平台 OptiDC™，公司持續推進 ADC 及新型 DC 的差異化開發，形成了治療多瘤種的梯度式管線布局。目前，科倫博泰已有蘆康沙妥珠單抗（sac-TMT，佳泰萊^®）與博度曲妥珠單抗（舒泰萊^®）兩款 ADC 藥物上市，覆蓋乳腺癌及肺癌兩大適應症；另有 9 款經獨特設計的 ADC 及新型 DC 藥物處於臨床階段，涵蓋雙特異性 ADC、放射性核素偶聯藥物（RDC）等前沿方向。面向乳腺癌、肺癌、消化道腫瘤這些國內高發瘤種，公司已啟動 9 項關鍵性研究，同時針對婦科腫瘤的多項 II 期臨床研究也在穩步推進。此外，公司亦布局了多個非 DC 藥物研發管線，並將適應症進一步拓展至非腫瘤領域。

過去一年，科倫博泰有多項研究成果亮相國際學術會議並發表於權威期刊：3 項入選美國臨床腫瘤學會（ASCO）口頭報告、3 項入選歐洲腫瘤內科學會（ESMO）最新突破性摘要（LBA）並作口頭報告。其中，蘆康沙妥珠單抗 OptiTROP-Lung04 研究（針對 TKI 治療後進展的 EGFR 突變非小細胞肺癌（NSCLC））結果在 ESMO 主席論壇環節重磅發布，並同步發表於《新英格蘭醫學雜誌》，彰顯其在全球範圍內的學術與臨床價值。

而在商業化層面，科倫博泰已形成具有競爭力的首批產品矩陣。核心產品 TROP2 ADC 蘆康沙妥珠單抗在中國獲批 3 項適應症，包括二線及以上三陰性乳腺癌、二線 / 三線 EGFR 突變 NSCLC；HER2 ADC 博度曲妥珠單抗於去年獲批二線及以上 HER2 陽性乳腺癌，成為該適應症首款上市的國產 HER2 ADC；此外，用於治療 RAS 野生型結直腸癌的 EGFR 單抗西妥昔單抗 N01（達泰萊^®）以及用於治療鼻咽癌的 PD-L1 單抗塔戈利單抗（科泰萊^®）均實現了商業化；另有一款小分子 RET 抑制劑 A400 預計年內獲批上市，屆時將在國內形成 5 款商業化產品組合。目前，公司已有 3 款商業化產品共 5 項適應症納入國家醫保，進一步惠及廣大腫瘤患者。

深耕國內市場的同時，科倫博泰也在積極拓展海外版圖，已與默沙東（MSD）、Ellipses、Windward Bio 及 Crescent Biopharma 建立深度合作，最大化管線價值和企業價值。其中，默沙東圍繞蘆康沙妥珠單抗佈局了 16 項全球 III 期臨床。

臨床與商業化的雙重突破，源於公司對創新研發的持續投入。經過在 ADC 領域十餘年的積累，科倫博泰自主打造的 OptiDC™平台可對候選藥物進行差異化的設計，結合特定靶點或靶向機制採用最合適的 Payload-linker 策略，以平衡療效和安全性。另外，公司正採用「多管齊下」的創新戰略不斷升級平台能力，通過新靶點、新載荷及多種偶聯技術，拓展腫瘤及非腫瘤領域的應用邊界。

展望未來，科倫博泰將通過五大發展策略夯實研發、技術、平台與運營根基，並推進全球化戰略升級，提升自身在海外市場產品開發、註冊以及商業化能力，進而向世界一流水平的生物製藥公司邁進。

演講材料請參見公司官網「投資者關係-投資者日曆」頁面，您可訪問網站瞭解更多詳情。

關於科倫博泰

四川科倫博泰生物醫藥股份有限公司（簡稱「科倫博泰」，股票代碼：6990.HK）是科倫藥業控股子公司，專注於創新生物技術藥物及小分子藥物的研發、生產、商業化及國際合作。公司圍繞全球和中國未滿足的臨床需求，重點布局腫瘤、自身免疫和代謝等重大疾病領域，建設國際化藥物研發與產業化平台，致力於成為在創新藥物領域國際領先的企業。公司目前擁有 30 餘個重點創新藥項目，其中 4 個項目已獲批上市，1 個項目處於 NDA 階段，10 餘個項目正處於臨床階段。公司成功構建了享譽國際的專有 ADC 及新型 DC 平台 OptiDC™，已有 2 個 ADC 項目獲批上市，多個 ADC 或新型 DC 產品處於臨床或臨床前研究階段。更多資訊請訪問官網https://kelun-biotech.com/。

The number of initial jobless claims in the US surprisingly sank to 198,000 last week, leading US bourse to open higher and drift higher on Thursday. The DJIA rallied as much as 431 points, and closed up 292 points or 0.6% at 49,442. The Nasdaq narrowed its gains, ending up 58 points or 0.3% at 23,530. The S&P 500 finished up 17 points or 0.3% at 6,944.

Banks rebounded, with Morgan Stanley (MS.US) charting fourth-quarter earnings and revenue beat, resulting in a 5.8% spike in its stock price. Goldman Sachs (GS.US) saw its fourth-quarter net profit hike by 12%, also beating expectations, with its stock price soaring 4.6%. Citi (C.US) swelled 4.5%, whereas JPMorgan (JPM.US) edged up 0.5%.

Chip makers were well-shaped, with TSMC (TSM.US) reporting a 35% YoY rise in quarterly net profit, exceeding expectations, and its ADR stock price leaping 4.4%. NVIDIA (NVDA.US) jumped up 2.1%, and Micron (MU.US) rose 1%.
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CHENGDU, China, Jan. 16, 2026 /PRNewswire/ -- From January 12 to 15, 2026, the 44th J.P. Morgan Healthcare Conference (JPMHC) was held in San Francisco, California, USA. Dr. Ge Michael, President and CEO of Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. ("Kelun-Biotech" or the "Company", 6990.HK), was invited to attend the conference and delivered a keynote speech on the morning of January 15 (local time) and presented the Company's latest achievements in drug R&D, commercialization, and globalization, and outlined its innovation strategy and future development plans.

Since initiating its innovation journey in 2012, Kelun-Biotech has rapidly emerged as a leader in China's innovative drug field, building differentiated technology platforms and robust R&D pipelines. Leveraging its global leading OptiDC™ platform for antibody-drug conjugates (ADCs) and novel drug conjugates (DCs), the Company continuously advances the differentiated development of ADCs and novel DCs, forming a gradient portfolio for treating multiple tumor types. Currently, Kelun-Biotech has two ADC products on market: sacituzumab tirumotecan (sac-TMT, 佳泰莱^®) and trastuzumab botidotin (舒泰莱^®), covering breast cancer and lung cancer indications. Additionally, nine uniquely designed ADC and novel DC drugs—including cutting-edge directions such as bispecific ADC and radiopharmaceutical conjugate (RDC) are in clinical stage. For high-incidence tumor types in China, such as breast cancer, lung cancer, and gastrointestinal tumors, the Company has initiated nine pivotal studies, while multiple Phase II clinical studies targeting gynecological tumors are progressing steadily. Furthermore, Kelun-Biotech has also developed several non-DC candidates and expanded indications into non-oncology areas.

Over the past year, Kelun-Biotech has presented multiple research findings at international academic conferences and published in authoritative journals: three were selected for oral presentations at the American Society of Clinical Oncology (ASCO) annual meeting, and three were selected as Late-Breaking Abstracts (LBA) for oral presentations at the European Society for Medical Oncology (ESMO) Congress. Among these, the results of the OptiTROP-Lung04 study of sac-TMT for treating EGFR-mutant Non-Small Cell Lung Cancer (NSCLC) after TKI therapy were presented at the Presidential Symposium session of ESMO and simultaneously published in The New England Journal of Medicine, highlighting its global academic and clinical value.

In terms of commercialization, Kelun-Biotech has formed a competitive initial product portfolio. Its core product, the TROP2-directed ADC sac-TMT, has been approved in China for three indications: second-line and above triple-negative breast cancer, second-line and third-line EGFR-mutated NSCLC. The HER2-directed ADC trastuzumab botidotin was approved last year for second-line and above HER2-positive breast cancer, becoming the first domestically developed HER2-directed ADC approved for this indication. Furthermore, the anti-EGFR monoclonal antibody Cetuximab N01 (达泰莱^®) for RAS wild-type colorectal cancer and the anti-PD-L1 monoclonal antibody tagitanlimab (科泰莱^®) for nasopharyngeal carcinoma have been launched. Another small-molecule RET inhibitor A400 is expected to be approved within the year, bringing the total number of commercialized products in China to five. Currently, three of the Company's commercialized products, covering five indications, have been included in the National Reimbursement Drug List (NRDL), further benefiting a broad population of cancer patients.

While strengthening its presence in the domestic market, Kelun-Biotech is actively expanding overseas. It has established collaborations with MSD, Ellipses, Windward Bio and Crescent Biopharma to maximize the value of its pipeline value and corporate worth. Among these, MSD is evaluating 16 global Phase III clinical studies of sac-TMT.

The breakthroughs in both clinical development and commercialization are driven by the Company's sustained investment in innovative R&D. With over a decade of accumulation in the ADC field, Kelun-Biotech's proprietary OptiDC™ platform enables differentiated design of drug candidates, which combines specific targets or targeting mechanisms with the most suitable payload-linker strategy to balance efficacy and safety. Additionally, the company is adopting a "multi-pronged" innovation strategy to continuously enhance platform capabilities. By exploring novel targets, new payloads, and diverse conjugation technologies, it is expanding the application boundaries across both oncology and non-oncology fields.

Looking ahead, Kelun-Biotech will consolidate its foundations in R&D, technologies, platforms, and operations by executing five key development strategies. Concurrently, the Company will elevate its globalization strategy, enhancing its capabilities in product development, registration, and commercialization in ex-China market, advancing on its path to becoming a world-class biopharmaceutical company.

Please refer to the "Investor Relations-Investor Calendar" page of the company's official website for the presentation materials. You can visit the website for further details.

About Kelun-Biotech

Kelun-Biotech (6990.HK) is a holding subsidiary of Kelun Pharmaceutical (002422.SZ), which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. Kelun-Biotech focuses on major disease areas such as solid tumors, autoimmune, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. Kelun-Biotech is committed to becoming a leading global enterprise in the field of innovative drugs. At present, Kelun-Biotech has more than 30 ongoing key innovative drug projects, of which 4 projects have been approved for marketing, 1 project is in the NDA stage and more than 10 projects are in the clinical stage. Kelun-Biotech has established one of the world's leading proprietary ADC and novel DC platforms, OptiDC™, and has 2 ADC projects approved for marketing, and multiple ADC and novel DC assets in clinical or preclinical research stage. For more information, please visit https://en.kelun-biotech.com/. 

Owing to tight memory chip supply, the number of export licenses granted by the US to Nvidia (NVDA.US) for selling H200 AI processors to Chinese customers will be limited, said John Moolenaar, a Republican member of the US House of Representatives and Chairman of the Select Committee on the Chinese Communist Party, on Thursday.

This situation arose from new export rules announced by the US Department of Commerce this week.

A spokesperson for Nvidia responded that the company, having always managed its supply chain neatly, is able to fulfill all approved H200 orders without affecting other products or customers.
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AAStocks Financial News
Web Site: www.aastocks.com

HONG KONG, Jan. 15, 2026 /PRNewswire/ -- S.F. Holding Co., Ltd. ('SF Holding' or 'SF', 'the Company', 002352.SZ; 06936.HK) the largest integrated logistics service provider in Asia and the fourth largest globally, and J&T Global Express ("J&T Express" or "J&T", 1519.HK) jointly announced today that they have entered into a strategic cross-shareholding agreement involving the mutual issuance of new shares, with a total investment amount of approximately HKD 8.3 billion.

Pursuant to the agreement, SF Holding will issue 226 million H Shares to J&T Express at a Subscription Price of HKD 36.74 per share, J&T Express will issue 822 million Class B Shares to SF Holding at an Issue Price of HKD 10.10 per share. Upon completion of the transaction, SF Holding will hold 10% of the issued shares of J&T Express as enlarged by the issuance (excluding treasury shares), and J&T Express will hold approximately 4.29% of the issued shares of SF Holding as enlarged by the issuance.

"We believe this is a win-win partnership that will inject fresh momentum into the global logistics landscape. The potential synergies between SF Holding's cross-border line-haul expertise and J&T Express's localized last-mile footprint, can create significant value to the global logistics ecosystem. This can not only deepen SF's global reach and operational efficiency but also enable us to build a more agile, resilient end-to-end fulfillment network. Ultimately, this collaboration can elevate the customer end-to-end experience and advance the competitiveness of SF's products and services across the world," said Mr. Alex Ho, Executive Director and Chief Financial Officer of SF Holding.

SF Holding, as a leading integrated logistics service provider globally, has long been committed to providing integrated, end-to-end logistics solutions for its customers. While having established a leading presence in China, the Company has also made significant progress in expanding its international business. SF Holding possesses core resource advantages in areas such as cross‑border first‑mile services, line-haul transportation, warehousing, and customs clearance, and has already developed digitalized international supply chain solutions and mature operational systems. The company is determined to further enhance such expansion through strengthening the breadth of its international network coverage and the depth of its overseas localised operations. The Company believes that strategic investments with partners will help broaden its international network coverage and enhance end-to-end operational efficiency.

J&T Express is a global logistics service provider that has achieved rapid growth across multiple countries. In addition to having established scale in the China market, the J&T has accumulated rich localized operational experience and a solid network foundation in Southeast Asia, one of the world's fastest-growing regions.

The Transaction is of significant strategic importance to SF Holding. With regard to the Company's international business, on top of its core resource advantages and mature operational system in cross-border first-mile and line haul, SF Holding can also leverage J&T Express's last-mile delivery network layout in the Southeast Asia and other emerging markets and localized operational experience, further deepening the network coverage and product competitiveness of end-to-end cross-border business.

With regard to the domestic business, the two parties have significant complementary and synergistic space in network resources, customer bases, product structure and differentiation, which will help both sides expand service boundaries.

Overall, this collaboration is highly aligned with the Company's strategic direction of building an "The One in Asia, globally connected" logistics network, and will provide strong support for the Company's effort to further consolidate and enhance its comprehensive competitiveness in the Asian and global logistics markets.

About SF Holding

Founded in 1993, S.F. Holding Co., Ltd. (002352.SZ; 06936.HK) is the largest integrated logistics service provider in Asia and the fourth largest globally. Listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, SF Holding is the constituent stock in the CSI 300 Index, MSCI Emerging Market Index. Demonstrating a commitment to being fast, reliable, and customer-centric, the Company possesses digital technology to promote the development of intelligent and green supply chains.

For further information, please visit https://ir.sf-express.com/en/.

香港2026年1月15日 /美通社/ -- 隨着機器人產業加速邁入商業化落地階段，首程控股（0697.HK）在機器人投資與生態構建方面再傳重要進展。公司宣佈，將於本週日（1月18日）晚 19:50，在抖音號和視頻號同步上線國內首個專注於機器人產品銷售的全場景直播平台——破壁人計劃直播間。

該平台的正式推出，標誌着首程控股正在加速打通機器人產業從研發製造到終端消費的線上線下銷售通道，通過「機器人 + 銷售」的創新模式，推動機器人產品由行業級應用逐步走向大眾消費市場，為機器人產業商業化提供新的落地路徑。

打造國內首個機器人銷售型直播平台，構建「展示—交易—交付」閉環

破壁人計劃直播間並非傳統意義上的品牌展示或內容直播，而是一個以產品銷售與交易轉化為核心目標的機器人直播平台。該直播間將聯動宇樹科技、松延動力、雲深處、微分智飛等多家機器人生態企業，實現從產品展示、互動體驗到即時下單、銷售轉化的一站式閉環。

在傳統的直播帶貨模式中，產品推銷和商業化宣傳往往佔據主導地位。然而，破壁人計劃直播間將通過投資人視角，深度解讀行業發展趨勢與被投企業的戰略佈局，不僅展示了核心產品的優勢，還剖析了產品背後的技術創新、品牌理念以及未來發展規劃。

這種形式將行業分析與產品展示巧妙融合，讓觀眾在瞭解企業核心產品的同時，也能洞察其行業地位及未來競爭力。與傳統的直播推銷模式相比，這一方式更加註重行業深度解讀與品牌價值傳遞，為企業提供了一個有效的直接對接消費者的舞台。

業內人士普遍看好這一創新模式，認為它能夠幫助被投企業提升品牌口碑的同時，促進市場轉化，並加速從產業佈局到市場認可的過程。這一新模式或將在機器人行業及其他相關領域掀起營銷傳播的新風潮，推動更多企業突破傳統營銷的侷限，邁向更廣闊的市場前景。

構建近百家機器人代理商網絡，打通生態商業化落地通道

在拓展產業生態層面，首程控股不單純依賴資本投資，還着力構建覆蓋機器人企業與市場場景的服務網絡。目前，首程已建立起約 100 家機器人公司代理合作伙伴的網絡體系，為投資企業提供產銷銜接、渠道推廣與訂單生成等支持，推動機器人產品更快速地進入市場和實際應用場景。

這一代理體系不僅是商業化推廣渠道，更與公司投資佈局邏輯緊密結合，通過代理網絡提前構建剛需訂單、收集市場反饋，為被投企業迭代優化產品提供第一手實戰數據，從而助力整體生態快速成長。

機器人投資組合整體回報顯著突破 明星項目收穫豐厚回報

在投資成績方面，首程控股在機器人領域的佈局成績亮眼。最受關注的案例當屬自變量機器人項目。該具身智能企業在近期完成約 10 億元人民幣 A++ 輪融資，首程控股早期參與投資的基金基於本輪融資估值，已實現超過 10 倍的投資回報，這一成績凸顯出首程控股在前沿科技賽道投資眼光的精準與前瞻性。

此外，首程控股在機器人賽道上的投資組合還包括宇樹科技、銀河通用等核心企業。這些企業不僅在技術研發層面持續推進，還在推進 IPO 或資本化進程，部分企業已進入上市輔導階段，或在機器人各細分領域中佔據重要市場位置。

這些項目的成長，不僅為產業技術突破創造條件，也為首程控股的投資組合貢獻持續價值增量，實質性地將投資潛力轉化為可觀察的商業成果。

不僅是單個項目的表現搶眼，首程控股機器人投資組合整體也實現了顯著的回報。據首程控股董秘康雨透露，首程控股在機器人賽道的投資組合賬面回報已超過 4 倍，這一成績頗為難得，尤其是在當前一級市場估值波動較大的背景下。

公開分析指出，這一回報表現並非偶然，而是公司以「系統性佈局」和「精選優質企業」策略為基礎的結果。首程控股投資覆蓋多個機器人產業關鍵細分賽道，從本體制造到智能系統、從近場服務到工業應用，通過多維度佈局構建一個可互相協同、相互成就的生態體系，從而最大化組合回報潛力。

從投資人到生態構建者：首程控股的深度戰略路徑

首程控股對機器人領域的長期投入，不僅停留於資本層面，而是強調「資本 + 場景 + 生態」的協同發展模式。一方面，公司通過產業基金持續篩選具有核心技術與成長潛力的企業進行投資佈局；另一方面，通過代理商網絡與自有場景資源，為被投企業提供真實企業級應用場景和商業化驗證。

這種「從資金到落地」的全鏈路支撐，使得資本與技術相結合、技術與需求相匹配，從而實現了投資價值快速迭代及穩健增長。業內觀點認為，這種佈局模式為中國機器人領域的創新生態構建樹立了新的參考範式。

隨着機器人技術在工業自動化、服務場景、智慧城市等領域應用的不斷深入，機器人產業正在進入更成熟的商業化階段。首程控股在這一產業浪潮中持續佈局並取得實質性成果，其投資回報與生態建設成果不僅提升了資本市場對機器人賽道的關注度，也為國內機器人企業拓展落地路徑提供了寶貴樣本。

未來隨着直播活動的展開、被投企業邁入更大規模商業化階段，以及資本市場對優秀科技項目的重新定價，首程控股有望在機器人產業價值兑現方面迎來更大突破。

CHANGSHA, China, Jan. 15, 2026 /PRNewswire/ -- Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion"; 1157.HK) is driving a new wave of intelligent transformation by integrating AI with construction machinery, the industrial internet, big data, and cloud computing. Its full-chain AI system spans smart products, manufacturing, management, and embodied-intelligence robotics, reshaping the company into a fully digital and intelligent enterprise. Zoomlion is also scaling humanoid robotics as its "third growth curve," backed by proprietary hardware-software integration capabilities.

Zoomlion's full-chain AI application system covers four major pillars, namely, AI plus construction machinery, AI plus intelligent manufacturing, AI plus intelligent management, and AI plus embodied-intelligence robots. At Zoomlion Smart City, 12 smart factories and over 300 smart production lines, including 20 lights-out lines, operate as an end-to-end intelligent manufacturing system. In the AI plus intelligent manufacturing domain, processes such as cutting, welding, machining, painting, and assembly are fully connected to the industrial internet platform. This allows unified management of over 100,000 material types and intelligent manufacturing of over 400 products. 

AI-driven scheduling and optimization enable the park to produce an excavator every six minutes, a scissor lift every 7.5 minutes, a concrete pump truck every 27 minutes, and a truck crane every 18 minutes, marking a breakthrough in large-scale, multi-variety, small-batch agile manufacturing. Zoomlion also applies AI across R&D, production, sales, service, and supply chain management. For customer service, the Company has launched a voice-based AI expert diagnostic system with over 95 percent accuracy, enabling remote fault identification, rapid troubleshooting, and 24-hour technical support. 

Since 2024, Zoomlion has expanded into embodied-intelligence humanoid robotics, leveraging its full-stack self-development capabilities. Dozens of humanoid robots are now deployed in factory logistics, loading and unloading, pre-assembly, and quality inspection, forming early productivity use cases. Supported by a self-built training ground with over 100 workstations and large-scale industrial datasets, Zoomlion enables rapid iteration of human-robot collaboration. All humanoid and industrial robots are connected to the Zhongke Yungu Embodied Intelligence Platform, which integrates data, training, simulation, and OTA deployment into a closed loop, powered by a national supercomputing center with 59P GPU computing capacity and tens of thousands of distributed nodes.

Beyond humanoid robotics, Zoomlion is developing a wider range of specialized robots for firefighting, mowing, construction, and agriculture. With deep integration across hardware, AI models, and real-world scenarios, the company is positioning embodied intelligence as its next major growth engine.

香港2026年1月15日 /美通社/ -- 近期，首程控股（0697.HK）在資本市場出現明顯的資金結構變化。根據港交所披露信息及多家金融終端成交數據顯示，公司股價在階段性低位區間內，外資資金顯著提升持股比例，呈現出持續吸納的資金流動特徵。據首程控股董秘透露，已有外資機構以約 2.08 港元的成本建倉買入。該價格水平接近公司近期股價底部區域，反映出機構投資者對首程控股中長期資本化潛力的積極判斷。

市場分析認為，外資在低位區間的持續介入，體現出對公司資產運營能力、機器人產業生態佈局及其資本市場估值修復空間的綜合認可。市場分析人士指出，從資金行為看，機構投資者在估值相對低位進行中長期配置，往往意味著對公司未來成長性及現金流穩定性的較高預期。

與此同時，首程控股近期一系列主動的資本運作對市場情緒形成支撐。根據公司公告及港交所回購披露信息，公司持續推進股份回購，以實際行動穩定股價並傳遞對自身價值的信心。公開資料顯示，2025 年 10 月中旬，公司曾回購約 5,040 萬股，累計耗資約 1.15 億港元；近期又在 2.07–2.08 港元區間持續回購數百萬股。持續、密集的回購行為，體現出公司在低估值區間進行價值管理與自有資金配置的主動性。

從基本面看，首程控股穩健的財務結構為其產業佈局提供了堅實支撐。根據公司三季度財報披露，截至三季度末，公司現金及理財資產規模約 85.5 億港元，整體資產負債率維持在健康水平，為後續產業投資、資本運作及回購計劃提供了充足的財務彈性。

在業務層面，公司正持續深化機器人產業戰略佈局。公開信息顯示，首程控股已加碼佈局包括宇樹科技、松延動力、微分智飛、雲深處、北京加速进化科技有限公司、星動紀元、星海圖等在內的多家機器人核心企業，積極推動機器人技術在教育、消費及醫療等場景的商業化落地。此外，公司近期對人形機器人公司北京加速进化科技有限公司的增持，也進一步彰顯其在具身智能與人形機器人領域的長期戰略定力。

綜合來看，外資低位吸納、持續股份回購、穩健現金流以及機器人生態與商業化通路的持續推進，共同構成首程控股當前資本與產業發展的核心看點。市場普遍預期，隨著機器人商業化模式逐步跑通及相關業務潛力釋放，公司中長期價值有望在資本市場中進一步體現。