Shanghai Securities: Expectations for a U.S. dollar interest rate cut have increased, suggesting attention to the export chain and humanoid robots

According to Zhitong Finance APP, Shanghai Securities released a research report stating that a decrease in the US dollar interest rate may enhance the willingness of capital expenditure in industrial and consumer goods in the US region, benefiting export chain enterprises. Zhiyuan Robotics is accelerating the commercialization of embodied intelligence, pushing the industry from "technological exploration" to "large-scale commercial use." Additionally, the new artificial intelligence product launched by chip giant NVIDIA is expected to be a significant breakthrough in the smart field. Recommended to pay attention to Sany (600031.SH), Anhui HeLi (600761.SH), Tuopu Group (601689.SH), and BOZHON (688097.SH).

The main viewpoints of Shanghai Securities are as follows:

Export Chain: A decrease in the US dollar interest rate may enhance capital expenditure willingness

According to Yicai, on August 22, Federal Reserve Chairman Jerome Powell delivered a speech at the central bank annual meeting in Jackson Hole, Wyoming. He emphasized that although inflation risks still exist, the weakness in the job market is becoming a key variable in policy considerations, opening up the possibility for a rate cut in September. According to the FedWatch data from the Chicago Mercantile Exchange (CME), the futures market's bets on a 25 basis point rate cut by the Federal Reserve in September rose to 89%, significantly up from 75% the previous day. The cumulative expectation for rate cuts this year has also increased to about 58 basis points. A decrease in the US dollar interest rate may enhance the willingness of capital expenditure in industrial and consumer goods in the US region, benefiting export chain enterprises.

Robots: Zhiyuan Robotics holds its first partner conference, NVIDIA is about to launch a new robotic brain

1. According to Zhiyuan Robotics' official WeChat account, the first partner conference of Zhiyuan Robotics was held in Shanghai on August 21, 2025. The conference, themed "Walking with Intelligence to Open a New Era," showcased Zhiyuan Robotics' comprehensive layout in "products, technology, business, ecology, capital, and team" through strategic releases, demonstrations of eight scenario-based solutions, and immersive experiences with hundreds of robots. Relying on the "one body and three intelligences" full-stack technology architecture and a full range of scenario products, Zhiyuan Robotics is working with partners to accelerate the commercialization of embodied intelligence, pushing the industry from "technological exploration" to "large-scale commercial use."

2. According to China Fund News' WeChat account, chip giant NVIDIA will launch a brand new artificial intelligence product on August 25, which is expected to be a significant breakthrough in the smart field. Additionally, NVIDIA's robotics is expected to debut at the Hon Hai Technology Day in November at the earliest.

Suggestions for attention:

1. Engineering machinery: Sany, Zoomlion, XCMG, Liugong, Shantui, Hengli Hydraulic, etc.;

2. General sector: Forklifts (Anhui HeLi, Hangcha Group), machine tools (Haitian Precision, Haomai Technology, Neway, Kede CNC, Huazhong CNC, etc.), cutting tools (Huarui Precision, Oke Yi, Ding Tai High-tech, Xinrui Co., Ltd., etc.);

3. Humanoid robots: It is recommended to pay attention to segments with high technical barriers, high value, and low localization rates, such as assemblies (Tuopu Group, Sanhua Intelligent Control, Hengli Hydraulic), PEEK structural parts (Weike Technology, Fosa Technology, Wanlang Magnetic Plastic, Jiangsu Boyun, etc.), sensors (Hanwei Technology, Riying Electronics, Donghua Testing, Amperelong, etc.), reducers (Hongchang Technology, etc.), lead screws (Hengli Hydraulic, Zhejiang Rongtai, Fuda Co., Ltd., Ding Tai High-tech, etc.), motors (Mingzhi Electric, Jiangsu Leili, Xinjie Electric, Weichuang Electric, etc.), Equipment (Huachen Equipment, Dingtai High-tech, Jinan Machine Tool China) etc.;

4. 3C sector: BOZHON, Quick Intelligent etc.;

5. Semiconductor equipment: Northern Huachuang, Zhongwei Company etc.;

6. Energy equipment: Xizhuang Co., Ltd., Neway Co., Ltd., Jereh Co., Ltd., Zhongtai Co., Ltd., Fostar etc.;

7. Scientific instruments: Anhui Yi Technology, Puyuan Precision Electric, Ulead etc.;

8. Controlled nuclear fusion: Hezhuan Intelligent, Anhui Yi Technology etc.;

9. Other specialized equipment: Yindu Co., Ltd., Jingjin Equipment.

Risk Warning: Macroeconomic downturn risks, downstream demand not meeting expectations, fluctuations in raw material prices, etc