不过，人形机器人能否在现实场景中实现有效应用，仍有待观察。 机器人板块的优必选2月20日在香港一度上涨13%。越疆一度飙升近23%，创4月份以来最大盘中涨幅； 速腾聚创一度上涨16%。中国内地股市将于下周二重新开市。 这并非市场首次对机器人在公众场合的能力展示作出积极反应。春晚一直是电视收视率最高的节目之 一，也往往成为中国科技初创企业腾飞的跳板。 机器人再次在中国一年一度的春节联欢晚会上抢尽风头，他们在小品中亮相，随着流行音乐起舞，还像 功夫大师那样在墙壁间腾挪跳跃。2月20日尽管香港股市整体走弱，投资者仍推动机器人板块的股票上 涨。 杭州初创公司宇树科技曾在2025年以整齐划一跳舞的人形机器人惊艳观众，今年则更进一步，展示了一 队能够完成跑酷动作、模仿成龙标志性醉拳风格的机器人。 银河通用展示了一款能叠衣服的机器人，魔法原子和松延动力的产品则在晚会的舞蹈和小品节目中亮 相。这台年度盛会周一创下了13年来最高的电视收视率。 这场表演"很炫，但高度编排，并未体现任何现实中的应用价值。"瑞联银行驻新加坡的董事总经理Vey- Sern Ling表示，"在消费和工业领域的应用、商业化、规模化生产以及成本效益方面，仍 ...

2月20日，港股迎来马年首个交易日。截至收盘，恒生指数报26643.69，跌0.98%，恒生科技指数报 5222.75，跌2.70%。尽管大盘走弱，但人工智能与机器人概念股集体逆市大涨，多只个股再创历史新 高，表现亮眼。 前海开源基金首席经济学家杨德龙认为，从投资的角度来看，机器人预计有三年左右的比较好的投资机 会，2025年相当于是炒概念的阶段，2026年进入到炒订单的阶段，2027年进入到炒业绩的阶段。在2025 年，那些宣布要做机器人相关业务的零部件公司都大涨，但是大家无法分辨哪家公司最终会获得大厂订 单；到2026年，就要逐步来看哪家能拿到大厂的订单，比如进入特斯拉机器人产业链、进入宇树机器人 产业链等等，有可能就会聚焦订单炒作；到2027年就要进入到业绩兑现阶段，看最终能不能释放出业 绩。 2月20日，港股开盘后，AI与机器人概念股全线爆发，机器人概念股中，越疆盘中一度涨超24%，截至 收盘涨21.40%，首程控股涨11.90%，速腾聚创涨9.24%，禾赛-W涨7.93%，优必选、三花智控分别上涨 4.71%、5.57%。 （文章来源：南方都市报） 东吴证券机械研究团队发布观点表示，机器人核心能力进 ...

每日经济新闻消息，2月20日，港股迎来农历马年第一个交易日。三大指数集体下跌，截至收盘，香港恒 生指数收跌1.10%，恒生科技指数收跌2.91%，国企指数收跌1.22%。 据媒体报道，Seedance 2.0大模型以春晚为首个公开应用场景完成首秀，深度参与多项节目视觉制作。本届 春晚中，"AI生成影像+实景舞台扩展"的创新模式引发全网热议，而Seedance 2.0正是这一模式的核心技术 支撑。 招商证券近期发布的研报指出，AI应用领域近期呈现出技术突破与商业化竞争同步深化的鲜明趋势。AI应 用相关技术迎来核心突破。叠加"人工智能+"行动作为国家中长期发展战略，为行业提供坚实长期支撑。 指数估值水位略高，但在产业趋势与政策红利的双重驱动下，上行空间值得期待。 图片来源：每经媒资库 港股机器人概念股集体大涨。截至收盘，越疆上涨21.4%，报48.44港元/股；速腾聚创报37.58港元/股，上 涨9.24%；禾赛-W上涨7.93%，报217.8港元/股；优必选上涨4.71%，报144.5港元/股。 2026年马年春晚圆满落幕，首程控股投资和服务企业松延动力、宇树科技、银河通用三家企业同台亮相， 在舞台上展现了中国 ...

Group 1 - The core viewpoint is that Yushuren's humanoid robots are not affordable for average households, but the company aims to reduce prices in the coming years to make them accessible to more families [2]

Core Insights - The article highlights a significant moment in the commercialization of the embodied intelligence industry, marked by the successful launch of "machine pandas" by Magic Atom during the Spring Festival Gala, indicating a shift from concept validation to accelerated commercialization [4][5][8]. Industry Overview - The embodied intelligence industry in China is expected to experience explosive growth by 2026, with predictions of a threefold increase in humanoid robot application scenarios and a global demand for 30,000 humanoid robots this year [5][6]. - The Spring Festival Gala served as a catalyst for the industry, showcasing the capabilities of four leading companies: Magic Atom, Yushu, Songyan, and Galaxy, each contributing unique technological advancements [5][6]. Company Performance - Magic Atom stood out by demonstrating a full-link performance with its robots, achieving high precision in complex movements during the gala [6][8]. - The company's robots, including the MagicBot Z1 and MagicDog, showcased their ability to perform real-life tasks, such as serving food and performing coordinated group actions, which resonated with consumers [8][11]. Market Demand - The surge in search and order volume for robots on platforms like JD.com indicates a growing consumer demand for embodied intelligence products, transcending beyond just toys to become valuable companions [4][15]. - The successful sales of Magic Atom's robots reflect a shift in consumer perception, recognizing them as practical and emotionally valuable products [15][16]. Technological Advancements - Magic Atom's approach to overcoming the "certainty dilemma" in the industry involves a dual product strategy: four-legged robots for stable, predictable tasks and humanoid robots for more complex, flexible applications [12][13]. - The company's high self-research rate of 90% in hardware and its development of a comprehensive embodied intelligence model enable it to respond quickly to real-world challenges [14][20]. Business Strategy - Magic Atom's business model emphasizes a positive feedback loop between market application and technological development, ensuring that real-world scenarios inform product design [18][19]. - The company balances short-term revenue from its four-legged robots with long-term growth potential from humanoid robots, aiming for sustainable commercialization [20][22]. Global Expansion - Magic Atom is expanding its global presence, with plans to cover over 1,000 cities and establish 10,000 stores for its standardized solutions within 1-2 years [22]. - The company has received significant investment, indicating strong confidence in its clear and logical commercialization strategy, with plans for an IPO in 2026 [22][24].

来源：北京日报客户端 港股马年首个交易日，港股三大指数集体收跌。截至收盘，恒生指数跌1.10%，报26413.35点，恒生科 技指数跌2.91%，报5211.50点。 消息面上，Seedance 2.0大模型以春晚为首个公开应用场景完成首秀，深度参与多项节目视觉制作。本 届春晚中，"AI生成影像+实景舞台扩展"的创新模式引发全网热议，而Seedance 2.0正是这一模式的核心 技术支撑。 与此同时，曙光SothisAI近日升级，实现智谱GLM-5、阿里Qwen3.5大模型全面接入，并进一步简化和 优化企业AI平台构建与运营流程。近期国产AI芯片企业太初（无锡）电子科技有限公司也已完成多款 国产主流开源大模型的深度适配工作，其中包括智谱GLM-5.0、阿里千问Qwen3.5-397B-A17B。 中新经纬综自央视新闻客户端、e公司 来源：中新经纬 盘面上，港股石油股逆势走强，中国石油股份涨3.70%，中国海洋石油涨2.23%。美国总统特朗普19日 再划"最后期限"，称美伊会否达成协议，"接下来十天左右"即可见分晓。谈还是打，前景依然悬而未 决。 在中央广播电视总台2026年春晚，多家公司机器人的"炸场"表演， ...

Market Overview - After the Spring Festival holiday, Hong Kong stocks faced pressure, with the Hang Seng Index dropping 1.1% to 26,413.35 points, and a total trading volume of 165.37 billion HKD [1] - The Hang Seng Tech Index fell 2.91%, while the Hang Seng China Enterprises Index decreased by 1.22% [1] Blue-Chip Stocks Performance - PetroChina (00857) led blue-chip gains, rising 3.7% to 9.52 HKD, contributing 11.57 points to the Hang Seng Index [2] - Other notable blue-chip performances included Henderson Land (00012) up 3% and Midea Group (00300) up 2.73%, while Alibaba (09988) fell 4.91%, dragging the index down by 101.66 points [2] Sector Highlights - The technology sector was a major drag on the market, with Alibaba down nearly 5% and Tencent down over 2% [3] - Robotics stocks surged, with Yujian (02432) up 21.4% following a successful Spring Festival performance, while AI model stocks also showed strong gains [3][4] - Oil stocks rose due to escalating geopolitical tensions, with WTI crude oil prices reaching a high of 66.70 USD per barrel [6] Investment Insights - Analysts suggest that the robotics industry's advancements are crucial for its transition from experimental to practical applications, with significant growth expected from 2021 to 2025 [4] - The AI model sector is transitioning from free trials to paid subscriptions, indicating a shift towards sustainable monetization [4] Notable Stock Movements - SOTON (02498) reported a significant reduction in net losses for 2025, achieving profitability in Q4, which contributed to a 9.24% increase in stock price [8] - COSCO Shipping Energy (01138) rose 6.34% amid expectations of increased tanker profitability due to geopolitical tensions [9] - Stone Four Pharmaceutical Group (02005) issued a profit warning, predicting a 45%-60% decline in profits for 2025 due to various market pressures [10]

Group 1 - The Hong Kong stock market experienced a decline on the first trading day of the Year of the Horse, with the Hang Seng Index falling by 1.10% and the Hang Seng Tech Index dropping by 2.91% [1] - AI applications, robotics, and oil stocks saw gains, while internet technology stocks generally fell, with Baidu down over 6% and Alibaba down nearly 5% [1] - Semiconductor stocks weakened, with Hua Hong Semiconductor down nearly 6% and SMIC down over 3% [1] Group 2 - The Hong Kong Legislative Council member Wu Jiezhuang announced that the first batch of stablecoin issuer licenses is expected to be issued in March, suggesting that eligible citizens could receive stablecoin airdrops or consumption vouchers to stimulate local consumption [1] - CITIC Securities believes that fiat-backed stablecoins may become the most accepted and secure mainstream stablecoin form, maintaining core functions of value measurement, transfer, storage, and inter-temporal value in the Web3 world [1] - Concerns about the impact of stablecoins on fiat currencies and their minting rights depend on their support for economic activities and the strength of the fiat they are pegged to [1] Group 3 - Analysts predict that Hong Kong tech stocks will remain weak in the near term due to intense competition in delivery and red envelope services around the Spring Festival, with expectations for stabilization only after Tencent and other companies report earnings in March [2] - Everbright Securities noted that tech stocks are currently not a major focus for investors, with concerns about the business development of companies like Alibaba and Baidu leading to significant declines in related stocks [2] - Recent reports from招商证券 indicate that the AI application sector is experiencing simultaneous technological breakthroughs and intensified commercialization competition, supported by national strategies for long-term development [2] Group 4 - China Galaxy Securities suggests focusing on sectors such as precious metals and energy, which may experience upward fluctuations due to uncertainties surrounding Fed rate cut expectations and geopolitical tensions [3] - The technology sector remains a long-term investment focus, with reduced valuation pressure following recent corrections, and potential rebounds expected in the context of accelerated AI model updates and applications [3]

恒指成分股中，中石油、恒基地产涨超3%，美的集团、石药集团、中海油、李宁、恒隆地产涨超2%。 | 代码 | 名称 | | | 112年1 | 涨幅% | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | --- | | HSTECH | 恒生科技指数 | | | 5211.50 | -2.91 | -5.52 | | HSI | 恒生指数 | 1 | | 26413.35 | -1.10 | 3.05 | | HSCEI | 恒生国企指数 | 2 | | 8959.56 | -1.22 | 0.51 | | 代码 | 名称 | | | 涨跌幅 ^ | 年初至今涨跌 | 总市值 | | 06618 | 京东健康 | | (0) | -6.27% | 2.43% | 1824.47亿 | | 09888 | 百度集团-SW | | | -6.25% | -1.90% | 3547.72 Z | | 01347 | 华虹半导体 | | | -5.76% | 26.72% | 1635.98亿 | | 00268 | 金蝶国际 | | | -5.65% | -20.77% ...

每经记者｜马原 每经编辑｜金冥羽 记者|马原 编辑|金冥羽 易启江 校对|程鹏 2月20日，港股迎来农历马年第一个交易日。三大指数集体下跌。截至收盘，恒生指数跌1.1%，报26413.35点，恒生科技指数跌2.91%，国企指数跌 1.22%。 科网股多数下跌，百度集团跌超6%，金蝶国际、哔哩哔哩跌超5%，阿里巴巴跌4.91%，网易跌4.27%，小米集团、中芯国际跌超3%，美团跌1.58%，腾讯 控股跌2.06%。 受马年春晚带动，机器人火速"出圈"，机器人概念股爆发，越疆涨超21%，首程控股涨近12%，速腾聚创涨超9%。 石油概念股上涨，中远海能涨6.34%，中国石油股份涨3.7%，中国海洋石油涨2.23%。消息面上，国际油价近期走高，市场忧虑美国与伊朗紧张局势升 级，两国在中东产油区加强军事活动。 值得一提的是，智谱尾盘涨幅扩大至42.72%，股价报725港元，总市值达3232亿港元。2月以来累计大涨220.51%。 智谱(2513) < C 闭市 02-20 16:08:42 725.000 额32.4亿 股本4.46亿 市盈 万得 MRO 型 换2.38% 市值1 3232 市净 +217.000 +4 ...