机器人赛道泡沫何时破?

Core Viewpoint - The article discusses the recent controversy surrounding Yushu Technology's A-share listing, emphasizing that the company has not applied for a "green channel" and that its listing process is proceeding normally [1][3]. Group 1: Listing and Market Concerns - Yushu Technology issued a strong statement denying reports of its listing being halted, clarifying that it has never applied for a "green channel" and that its listing work is progressing as planned [1][3]. - The market is more concerned about whether there is a bubble in the robotics sector, with the founder of Yushu Technology, Wang Xingxing, suggesting that current concerns about a bubble may not hold true in the long term [4][11]. - Wang argues that the perception of a bubble should be viewed as a natural phase in industry development rather than a moral judgment, as many important industries have gone through similar processes before maturing [5][6]. Group 2: Technological Challenges and Ethical Concerns - The core issue facing humanoid robots is not a wrong direction but rather the failure to cross a critical threshold, with hardware and algorithmic limitations hindering efficiency and reliability [8][10]. - Wang compares the current state of robotics to early automobiles, suggesting that while technology may be "usable but not perfect," it is approaching a critical transformation [9]. - Ethical concerns are highlighted, with Wang emphasizing the risks of robots being misused and the potential for public misunderstanding, which could lead to negative perceptions of the technology [10][11]. Group 3: Future Outlook - The article concludes that for Yushu Technology, the listing is merely a matter of time, and the real determinants of its future will be product demand, technological leadership, and cost sustainability after any market corrections [12]. - The presence of bubbles is acknowledged as part of the industry's evolution, with the expectation that only companies that focus on genuine product development will survive the inevitable market fluctuations [12].