作者 | 弗雷迪 数据支持 | 勾股大数 据（www.gogudata.com） 一季度表现强势的科技股，今日迎来强势反弹。 其中， 机器人 ETF(159770) 今日大涨， 其跟踪的标的指数今日涨 3.16% ，近 11 个交易日涨超 11% 。 此外，消费电子、小米汽车、华为汽车、特斯拉供应链等概念纷纷交出近两周最为强势的上涨。 到底发生了什么？ 重新布局机会，逐渐明朗了？ 关键改口！ 01 昨夜美国政界和科技界最重要的两个人纷纷发话，一下子改变了市场风向。 首先是美国总统特朗普的意外松口，此前几天他一直向鲍威尔施压，要求其降息， 甚至威胁将其解雇 ，结果周二面对记者采访时 表示， 虽然 他仍对美联储未能更迅速地降息感到不满，但他无意解雇鲍威尔。 此前他不断加大对鲍威尔的批评力度， 再度引发了 "股债汇三杀"，金价走高。一经松口后市场情绪便迅速平息了下来，昨夜大型科技股带领 市场反弹，金价则从 3500 的历史高位跳水逾 3% 。 其次，特朗普另外一处松口对于中国股票资产表现影响更大。他承认美国目前对中国出口商品的关税过高，预计税率将大幅降低。 虽然也不会降为 0 ，但起码表明特朗普在其标志性的关税政策 ...

Group 1 - The first Embodied Intelligent Robot Games will be held from April 24 to 26 in Wuxi, with representatives from Yushu and Xiaomi participating in discussions [1] - Tesla CEO Elon Musk announced significant progress in the humanoid robot Optimus, with thousands expected to be operational in Tesla factories by the end of the year [1] - Tesla is increasingly betting on the future of autonomous driving and robotics, including self-driving taxis and humanoid robots [1] Group 2 - Tesla indicated that while it continues to innovate in manufacturing and operational cost reduction, long-term profits related to hardware are expected to accelerate alongside AI, software, and fleet operations profits [1] - New vehicle plans, including more affordable models, are still expected to begin production in the first half of this year, despite reports of potential delays [1] - A report from Open Source Securities highlighted the successful hosting of the world's first humanoid robot half marathon in Beijing, showcasing China's leading position in high-intensity robotic sports [1] Group 3 - According to招商证券, artificial intelligence is a key battleground for major powers, and robots, as the ultimate carriers of AI, are expected to benefit significantly [2] - The report suggests a positive outlook for the humanoid robot sector in the medium to long term, recommending investment opportunities in core components and control systems [2] Group 4 - The related industry chain stocks in Hong Kong include UBTECH (09880), Yujian (02432), Xiaomi Group (01810), SUTENG (02498), Delta Electronics (00179), Horizon Robotics-W (09660), JINLI Permanent Magnet (06680), and Shanghai Electric (02727) [3]

Group 1 - The 2025 Beijing Yizhuang Half Marathon featured a unique competition between human runners and humanoid robots, marking the first global event of its kind [1] - The winning robot, TianGong Ultra, completed the race in 2 hours, 40 minutes, and 42 seconds, showcasing the progress of China's humanoid robot industry [1][2] - The event highlighted the differences in competition rules for robots, including staggered starts and the ability to swap batteries or robots during the race [1] Group 2 - The humanoid robot industry in China is rapidly evolving, with significant capital influx leading to intense competition among startups [8][21] - The pricing of humanoid robots is becoming increasingly competitive, with models like the Songyan N2 priced at 39,900 yuan, significantly lower than other models [9][11] - Despite the excitement, many robots faced operational issues during the marathon, indicating the current limitations of the technology [2][3] Group 3 - The rental market for humanoid robots is gaining traction, with daily rental prices fluctuating between 3,000 to 20,000 yuan, depending on demand [16] - The market for humanoid robots is projected to reach 8.239 billion yuan by 2025, with applications expected in various sectors such as smart energy and elderly care [16] - Companies like UBTECH are exploring collaborative applications for humanoid robots in industrial settings, indicating a shift towards practical use cases [18] Group 4 - The humanoid robot sector faces challenges in achieving profitability, with many companies struggling to secure funding and maintain operations [21] - The industry is characterized by a high rate of startup failures, with over 10 companies reported to have closed in 2024 alone [21] - Experts predict that significant advancements in AI and robotics will be necessary for the commercial viability of humanoid robots, with a timeline of 5 to 10 years for substantial breakthroughs [23]

Core Insights - The first humanoid robot half marathon held in Beijing has significantly increased interest in the humanoid robot industry, with the "Tiangong Ultra" robot winning the race in 2 hours, 40 minutes, and 42 seconds, reshaping perceptions of humanoid robot capabilities [1] - The event highlighted the supply chain behind the winning robot, revealing various listed companies' involvement, although no direct collaborations with Tiangong were confirmed [2][3] Group 1: Company Developments - The Tiangong robot was developed by the Beijing Humanoid Robot Innovation Center, established in November 2023, with key stakeholders including UBTECH, Xiaomi Robotics, and Beijing Electromechanical, each holding a 28.57% stake [1] - Following the competition, UBTECH announced the establishment of a wholly-owned subsidiary in Beijing to commercialize and globally sell the Walker and Tiangong series humanoid robots [1] Group 2: Supply Chain and Partnerships - Several listed companies, including Shuanglin Co., Liancheng Precision, Honggong Technology, and others, responded to inquiries about Tiangong but did not confirm any partnerships [2][3] - The main suppliers for Tiangong include Aobo Zhongguang, which provides 3D vision sensors, and Lide Harmonic, which supplies harmonic reducers [3][4] Group 3: Technical Challenges - The humanoid robot industry faces significant technical challenges, as evidenced by the low completion rate of less than 30% in the marathon, with issues such as falls and joint overheating being prevalent [6][7] - Key areas needing improvement include high-density battery packs, low-power motor drivers, and robust algorithms for dynamic obstacle recognition and path planning [7]

金十数据4月22日讯，优必选公告，公司已于2025年4月17日向中国证监会提交有关实施H股全流通的备 案申请。截至本公告日期，H股全流通的实施计划详情尚未最终确定，且公司尚未完成中国证监会备案 程序。公司将根据内幕消息条文及/或上市规则的规定就H股全流通的进展作出进一步公告。 优必选：向中国证监会提交H股全流通备案申请 ...

本 公 告 乃 由 深 圳 市 優 必 選 科 技 股 份 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09(2)(a)條及香港法例第571 章證券及期貨條例第XIVA部 項 下 有 關 內 幕 消 息 條 文（定 義 見 上 市 規 則）作 出。 茲提述本公司日期為2025年3月30日 的 公 告（「該公告」），內 容 有 關 本 公 司 5,453,931股內資股擬實施H股 全 流 通。除 另 有 定 義 外，本 公 告 所 用 詞 彙 與 該 公 告 所 界 定 者 具 有 相 同 涵 義。 董 事 會 欣 然 宣 佈，於2025年4月17日，本 公 司 已 向 中 國 證 監 會 提 交 有 關 實 施H股 全 流 通 的 備 案 申 請。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 UBT ...

智通财经APP了解到，4月19日，全球首个人形机器人半程马拉松在北京亦庄举行，来自北京人形机器人创新中心的天工 Ultra率先撞线，以2小时40分钟的 成绩获得首个人形机器人半程马拉松冠军。 "天工Ultra"机器人火了，其背后的股东及相关概念成为投资热点。比如在香港上市的"人形机器人第一股"优必选（09880）正是北京人形机器人创新中心背 后的重要股东。就在昨天，优必选宣布，将在北京亦庄成立行者天工机器人全资子公司，负责行者（Walker）系列、天工系列及天工行者（科研教育版）等 系列人形机器人的全面商业化及全球销售。这是继3月12日优必选科技和创新中心联合推出全尺寸科研教育人形机器人平台——天工行者之后的又一重磅举 措。 "天工Ultra"夺得全球首个人形机器人半程马拉松冠军 4月19日，全球首次"人机共跑"半程马拉松在北京亦庄开赛，全程约为21.1公里，共有来自不同省份的20家机器人团队参赛，涵盖了天工Ultra、松延动力 N2、宇树G1、卓益得XO2、夸父及行者二号等机器人选手。 最后天工Ultra以2小时40分钟的成绩获得本次比赛冠军，N2机器人及行者二号分别以3小时37分钟和4小时25分钟录得亚军 ...

人形机器人赛道有多大的市场发展空间？花旗银行预测，到2050年，全球人形机器人市场规模将达到7 万亿美元，数量将达到6.48亿台。《人形机器人产业研究报告》也曾预测，中国人形机器人市场规模将 于2029年达到750亿元，将占世界总量的32.7%。 值得注意的是，车企竞相布局人形机器人赛道。不久前，对于特斯拉人形机器人的发展节奏，特斯拉中 国相关负责人告诉记者，目前特斯拉人形机器人处于试生产阶段，2025年的目标是5000台。 国内方面，广汽集团已发布其第三代人形机器人GoMate;小鹏旗下Iron人形机器人已在其工厂被投用， 小鹏计划明年量产面向工业的L3级人形机器人；小米旗下团队已发布人形机器人CyberOne，首批量产 机器人将率先"投身"其工厂，此外小米集团还投资了机器人企业宇树科技。 长安汽车近日对人形机器人研发项目，启动供应商公开寻源，计划未来五年投资超500亿元，在2027年 前发布其首款人形机器人产品;理想汽车创始人李想表示，公司100%将涉足人形机器人领域;赛力斯成立 子公司重庆凤凰技术有限公司，后者经营范围包括智能机器人的研发等。 智通财经APP获悉，4月19日在北京举行的全球首场人形机器人 ...

Group 1: Industry Overview - The education robot industry in China has a limited number of listed companies, including Keda Xunfei, Shengtong Co., UBTECH, Donggang Co., Gaole Co., Ruijun Technology, and Yuejiang [1] - The industry is characterized by a focus on educational applications for children and teenagers, with companies developing various products and solutions [8][10] Group 2: Company Profiles - Keda Xunfei, established in December 1999, has the highest number of patents (2864) and ranks 7th in the 2024 AI Innovation Enterprises Top 100 [9] - Shengtong Co., founded in November 2000, has a registered capital of 537.59 million yuan and ranks 50th in the 2024 Beijing Manufacturing Enterprises Top 100 [9] - UBTECH, established in March 2012, has a registered capital of 419.56 million yuan and ranks 13th in the 2024 China Robotics Enterprises Top 50 [9] - Donggang Co., founded in March 1996, has a registered capital of 523.72 million yuan and ranks 36th in the 2023 Office Software Ranking [9] - Gaole Co., established in October 1989, has a registered capital of 94.72 million yuan [9] - Ruijun Technology, founded in November 2005, has a registered capital of 95.29 million yuan and ranks 19th in the 2024 Leading Enterprises in Trustworthy Innovation [9] - Yuejiang, established in July 2015, has a registered capital of 36 million yuan and ranks 11th in the 2024 China Hidden Unicorn Enterprises Top 500 [9] Group 3: Business Performance - In the first half of 2024, Keda Xunfei's education application product revenue reached approximately 2.86 billion yuan, with a gross margin of 51.76% [11][12] - Shengtong Co. generated 135 million yuan from technology education services, with a gross margin of 30.54% [12] - UBTECH's revenue from educational intelligent robots and solutions was 161 million yuan, with a gross margin of 19.1% [12] - Gaole Co. reported 3 million yuan from interactive toys, with a gross margin not specified [12] - Yuejiang's revenue from four-axis collaborative robots was 370 million yuan, with a gross margin of 30.52% [12] Group 4: Future Business Plans - Keda Xunfei plans to develop advanced AI systems for educational robots that can provide personalized learning assistance [13] - Shengtong Co. aims to create a comprehensive curriculum system for programming education and robotics [13] - UBTECH intends to enhance its platforms using large models and AIGC technology to improve teaching efficiency [13] - Gaole Co. focuses on integrating various technologies to enhance the intelligence of educational robots [13] - Donggang Co. is investing in AI and big data technologies to improve the capabilities of its educational robots [13] - Ruijun Technology will continue to optimize its educational robot, Tianhe C1, based on user feedback [13]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 UBTECH ROBOTICS CORP LTD 深 圳 市 優 必 選 科 技 股 份 有 限 公 司 董 事 會 欣 然 宣 佈，本 公 司 已 於2025年4月14日（星 期 一）於 中 國 深 圳 市 南 山 區學苑大道1001號南山智園C1棟25樓JIMU會議室召開並舉行臨時股東大 會。 於臨時股東大會日期，已發行股份總數為441,777,923股 股 份（包 括70,665,977 股內資股及371,111,946股H股），該 等 股 份 賦 予 持 有 人 權 利 出 席 臨 時 股 東 大 會 並 於 會 上 就 提 呈 的 決 議 案 投 贊 成 或 反 對 票。 於 臨 時 股 東 大 會 日 期，概 無 股 東 須 根 據 上 市 規 則 就 臨 時 股 東 大 會 上 提 呈 的 任 何 決 議 案 放 棄 投 ...