智元机器人持续突破，Grok4正式发布，持续看好相关产业投资机会

Group 1 - The report highlights the continuous progress of ZhiYuan Robotics, with the recent launch of the Nezha Robot Lingxi X2-N, which can switch between wheeled and bipedal modes, showcasing enhanced emotional expression capabilities compared to similar humanoid robots [1][23][25] - The report notes that the global humanoid robot industry is accelerating, with various companies, including Zhongke Xinsong and MagicLab, launching new humanoid robot products that integrate mobility, environmental perception, and dexterous operation [2][16][38] - Investment in the robotics sector is increasing, as evidenced by ZhiYuan Robotics acquiring at least 63.62% of the shares of Upwind New Materials, and Yunshen Technology completing a new financing round of nearly 500 million RMB [2][16][27][42] Group 2 - The report emphasizes the rapid growth phase of humanoid robots, as they transition from hardware evolution to cognitive advancements, with multiple manufacturers achieving small-scale deliveries [3][17][54] - The release of Grok 4 by xAI is noted for its significant improvements in reasoning capabilities, outperforming previous models in various tests, which indicates a growing demand for computational power in the AI industry [6][18][55] - The report forecasts that the market for intelligent computing centers in China will reach 288.6 billion RMB by 2028, driven by the increasing application scenarios for AI large models [19][20]