然而，商业世界没有永恒的丰碑，只有流动的效率和需求。Model S和X的停产，早已是进行时。销量上，它们早已被更大众的Model Y和Model 3淹没，占 比微小。成本上，它们产自相对老旧、成本更高的弗里蒙特工厂，而非上海超级工厂这样的效率标杆。在特斯拉整体毛利率承压、面临空前价格战的今天， 保留两款叫好但未必叫座的小众高端车型，在经济账上已不划算。 图片系AI生成 当一家公司的创始人亲手按下旗舰产品的"停产键"，这通常不是庆功的信号，而是背水一战的号角。 北京时间2026年1月29日，马斯克在特斯拉的财报电话会上宣布，Model S和Model X将在下一季度正式停产，体面退役。与此同时，特斯拉交出了上市以来 第一份年度营收下滑的财报：2025年总营收948亿美元，跌了3%；净利润37.9亿美元，近乎腰斩，暴跌46%；全球汽车交付量连续第二年下滑，少了8.6%。 冰冷的数字背后，马斯克却在描绘一个近乎科幻的未来：加州弗里蒙特工厂的轿车生产线将让位于Optimus人形机器人的批量制造；没有方向盘和踏板的 Cybercab出租车即将驶上街头；公司今年要豪掷超过200亿美元（约合人民币1389亿元），全力押注自 ...

Core Viewpoint - Tesla's Q4 financial report showed a decline in revenue and profit, but exceeded expectations in gross margin and earnings per share, leading to a nearly 4% increase in stock price post-announcement [2] - Elon Musk focused on AI, Robotaxi, and the humanoid robot Optimus during the earnings call, indicating a strategic shift away from traditional automotive discussions [2] Group 1: Tesla's Financial Performance - Q4 revenue and profit decreased, but gross margin and earnings per share were higher than expected [2] - The stock price reacted positively, increasing by nearly 4% after the earnings report [2] Group 2: Optimus Robot Development - Musk announced that Optimus V3 will be released in a few months, showcasing significant improvements over V2.5 [2] - Production of Model S and Model X is expected to cease as the Fremont factory is repurposed for Optimus production, with a long-term goal of achieving an annual production capacity of one million robots [2] Group 3: T Chain Developments - T Chain companies have seen a mix of positive news, including contracts and project confirmations, but overall performance has been weak due to a lack of significant catalysts [3] - Recent downward trends in T Chain stocks were noted, particularly on January 26, with some stocks hitting their daily limits [3] Group 4: Market Sentiment and Future Outlook - The market is awaiting the release of Optimus V3 as a potential catalyst for T Chain stocks [5] - Key T Chain companies are focusing on North American communications and have received positive feedback from recent engagements [5][6]

来源丨腾讯科技（ID：qqtech） 作者丨 苏扬 以下文章来源于腾讯科技 ，作者值得关注的 腾讯科技 . 腾讯新闻旗下腾讯科技官方账号，在这里读懂科技！ 编辑丨 徐青阳 图源丨Midjourney "过去一个月，网上流传着很多关于我司2025年出货量的不实信息。"1月22日，宇树科技在一则回 应公告中写道。 宇树的这条回应，矛头直指Omdia此前公布的"人形机器人出货量榜单"。 Omdia此前公布的数据显示， 2025年，人形机器人出货前三名：智元机器人、宇树科技、优必选 ， 对应出货量分别为5168台，4200台和1000台。 另外，市场机构Counterpoint日前披露的数据也显示，智元、宇树和优必选三家企业占据人形机器人 市场份额前三名，分别为30.4%、26.4%、5.2%。 两份榜单虽然口径不一致，但对应头部前三名的排序高度一致。 这种情况下，宇树科技强调2025年人形机器人实际出货量超5500台，外部流传数据不实， 字里行间 都在表达"宇树科技才是人形机器人出货量的第一名。" 不过，也有轮式人形机器人创业者表示， 这份榜单覆盖了绝大部分双足产品，但没有覆盖到轮式 ，"我们出货量也能排上名次，但 ...

Core Viewpoint - The Robot ETF (159770) has shown significant investor interest despite a decline in the underlying index, indicating a potential shift in market sentiment towards robotics and AI sectors [1][2]. Group 1: ETF Performance - As of January 28, 2026, the Robot ETF (159770) had a turnover rate of 4.31% with a transaction volume of 428 million yuan [1]. - The underlying index, the CSI Robot Index (H30590), experienced a decline of 2.05% [1]. - The Robot ETF saw a net subscription of 58.5 million shares, indicating strong demand [1]. Group 2: Fund Growth - Over the past three months, the Robot ETF (159770) has grown by 438 million yuan, and in the last six months, its share count increased by 1.919 billion shares [2]. - The ETF closely tracks the CSI Robot Index, focusing on core entities across the robotics industry chain [2]. Group 3: Industry Developments - Shenzhen-based Zhongqing Robotics has completed a share reform, changing its name to Shenzhen Zhongqing Robotics Technology Co., Ltd., which is seen as a step to optimize its capital structure for future operations [2]. - Zhongqing Robotics has initiated a humanoid robot space exploration project in collaboration with Chuanxuer, marking a significant milestone in China's humanoid robotics and space exploration efforts [3]. Group 4: Market Insights - Recent reports indicate a rapid acceleration in the commercialization of humanoid robots, with expectations for mass production to begin in 2025 [4]. - Companies like Yushutech and UBTECH are making significant strides, with UBTECH's Walker S2 being procured by Airbus and Tesla's Optimus robot performing tasks in factories [4]. - The investment and financing activities in the humanoid robotics sector are on the rise, with several companies completing share reforms or securing new rounds of funding [4].

Core Insights - The article emphasizes the rapid development and integration of robotics in various sectors, particularly in household cleaning and industrial applications, driven by advancements in AI technology [1][2][3] Group 1: Robotics in Household Applications - The household sector is identified as the primary battlefield for consumer-grade robots, with cleaning robots achieving significant market penetration [4][5] - Products like window cleaning robots and floor cleaning robots have gained popularity due to their ability to meet user needs effectively, with sales expected to grow over 30% by 2025 on platforms like Tmall [4][5] - The competitive edge in the market is shifting towards automation and integrated solutions, with companies focusing on user-friendly designs and safety features [5] Group 2: Industrial Robotics - The industrial sector is witnessing a shift as robots become integral to manufacturing and smart management, with companies like Tianyi Robotics and others deploying robots for material handling and sorting tasks [7][8] - Major orders for humanoid robots are anticipated in 2025, indicating a significant move towards automation in manufacturing [8][10] - The core value of robots in factories lies in their ability to gather data and improve algorithms, which can enhance productivity and address labor shortages [8][10] Group 3: Market Dynamics and Challenges - Chinese brands dominate the Southeast Asian market for cleaning robots, holding over 80% market share, highlighting the competitive landscape [6] - The industry faces challenges in scaling up applications, with many robots still in the trial phase and primarily performing simple tasks [13][14] - Reliability and efficiency remain critical concerns, with current robots not yet surpassing human efficiency in many tasks, although they can maintain consistent performance over extended periods [13][14] Group 4: Future Outlook - The robotics industry is projected to grow significantly, with estimates suggesting the market could exceed $100 billion by 2028 [17] - The competition will increasingly focus on the ability to deploy robots in real-world scenarios and continuously optimize their performance through data feedback [17][18] - Companies are urged to be cautious about large orders that may not translate into immediate deliveries, as many are framework agreements rather than binding contracts [18]

Group 1 - The performance of the robotics sector is mixed, with companies like Woan Robotics (06600) rising by 18.71%, Gangzi Robotics (00370) by 4.44%, and Ubtech (09880) by 2.34%, while others like Yunji (02670) fell by 3.17% and Micron Robotics (02252) by 1.62% [1][2] - Tencent's Senior Executive Vice President, Tang Daosheng, stated that Chinese robotics companies deserve higher valuations in the capital market, emphasizing that the competitive environment forces companies to accelerate technology iteration and application, which has not been fully priced by the market [1][2] - Guojin Securities highlighted that 2026 is a crucial year for humanoid robots, with Tesla's supply chain expected to launch its first mass-produced product in Q1 2026, and large-scale production lines to be completed in H1 2026, leading to a significant increase in domestic shipments from thousands to tens of thousands [1][2]

导读： 又一机器人公司躬身入局，VC圈再添新玩家。 作者丨FOFWEEKLY 又有机器人公司闯入VC圈，这次是作为LP出手。 " 人形机器人第一股" 做LP 2025年12月19日，慕华科创与智元创新（上海）科技股份有限公司联合多方产业资本，正式发布 了"慕华·智元具身智能产业基金"。这是继去年9月与高瓴资本联手布局后，智元在产业投资领域 的又一重要举措。 作为国内具身智能领域的头部初创企业，智元机器人的资本运作与生态布局始终保持高频节奏。自 成立以来，这家"华为系"背景的企业便以产业与资本双轮驱动的模式，快速构建生态壁垒。 一则公告， 让头部机器人公司以新身份重返创投圈主角。 日前，港股"人形机器人第一股"优必选宣布与柳州产控基金及柳州产业引导基金订立合伙协议。 根据优必选发布的公告，该合伙企业全称为"机器人产业并购基金"，全体合伙人的出资总额为人 民币6.6亿元，其中柳州产控基金出资人民币500万元，柳州产业引导基金出资人民币3.55亿元， 优必选出资人民币3亿元。柳州产控基金担任合伙企业的普通合伙人及基金管理人。 公告显示，该合伙企业的目的是以智能机器人产业链为核心，依托柳州市现有产业基础，投资于上 下 ...

"十四五"期间，南山区经济体量5年跨越4个千亿台阶。2025年是南山建区35周年，从蛇口炸响的改革开 放开山炮，到前海开启的改革开放再出发，这片土地始终勇立时代潮头。南山区发展路径清晰映照出中 国产业升级的轨迹：从"三来一补"起步，到培育出腾讯、华为、大疆等一批世界级企业，再到如今锚定 人工智能、机器人等未来产业，南山区的每一步发展都精准契合了时代的节拍。 "南山区要成为生产上的'金山银山'，生态上的'绿水青山'，生活上的'寿比南山'。"南山区委书记黄湘岳 表示，南山区致力于构建"有为政府"与"有效市场"良性互动的生态，政府专注搭建平台、优化服务，让 市场活力充分涌现。 "一座县（区）级行政区经济体量突破万亿元，具有风向标意义。"中国（深圳）综合开发研究院常务副 院长郭万达认为，这标志着广东区域发展正在全面转向创新驱动和生态驱动，以南山区为代表的县 （区）正在探索一条打破传统要素约束的可持续发展路径。 全国首个万亿GDP县（区）在广东诞生。1月27日，据深圳市南山区八届人大六次会议消息，2025年南 山区GDP突破1万亿元，成为我国第一个GDP破万亿元的地市辖区。其中地均GDP达54亿元/平方公里， 人均GD ...

记者丨赵云帆 编辑丨骆一帆 或于央视春晚"露脸"的人形机器人企业再锁定一家。1月25日，央视披露，银河通用成为2026 年春节联欢晚会指定具身大模型机器人。 而在此之前，1月23日，"追觅系"机器人企业魔法原子，也成功认领成为央视春晚的机器人战 略合作伙伴之一。 21世纪经济报道记者向银河通用方面询问春晚表演和互动方式，但对方表示暂不便回复。 "京圈"机器人企业狂揽近8亿美元 自宇树科技人形机器人表演一炮而红之后，央视春晚已然成为部分具身智能企业暗自较劲的 高光舞台。 而银河通用虽被认为是人形机器人"准第一梯队"企业，但在春晚之前，尚无宇树、智元、众 擎等机器人企业获得过的"破圈时刻"。 不过，相比以上知名企业，银河通用却以一级市场的海量融资与极高估值而成为资本圈关注 的对象。 资料显示，银河通用成立于2023年5月，公司位于北京，聚焦通用机器人产品的研发和销售。 从履历来看，公司与北京大学、中关村方面渊源较深，公司联合创始人王鹤为斯坦福博士， 北大前沿计算研究中心助理教授，博士生导师，北大-银河通用具身智能联合实验室和北京智 源人工智能研究院具身智能研究中心主任。 从融资经历来看，银河通用在初创阶段即获得约 ...

（原标题：优必选公布情绪波动检测相关专利） 企查查APP显示，近日，优必选（09880.HK）申请公布"一种情绪波动检测方法、装置、可读存储介质 及电子设备"专利。 专利摘要显示，本申请属于情绪波动检测技术领域，尤其涉及一种情绪波动检测方法、装置、计算机可 读存储介质及电子设备。所述方法包括：获取微压氧舱内的目标对象的多模态信号；对所述多模态信号 分别进行特征提取，得到与所述多模态信号分别对应的特征向量；对与所述多模态信号分别对应的特征 向量进行特征融合，得到多模态融合特征向量；根据所述多模态融合特征向量对所述目标对象进行情绪 波动检测，得到所述目标对象的情绪波动检测结果。通过本申请，可以综合目标对象的多模态信号来进 行情绪波动检测，有效提高了情绪波动检测结果的精准性。 ...