编者按： 图片来源：视觉中国 昨日，我们发布了" 2025年《财富》中国40位40岁以下的商界精英 "榜单，宇树科技创始人王兴兴正 是其中的佼佼者之一。 当下人类正处于"数字原生"与"智能原生"的夹层时代：互联网与移动互联网让完成了基本的数字化 进程，即所有物理世界均可以孪生为数字世界。人工智能则是在使用过去30年间积累的数据，对整 个人类系统进行新的、智能化改造。 越是在跨越时代的夹层之中，越是孕育着更宏大的力量。 具体到宇树科技而言，王兴兴正在打开人类与机器的边界——人形机器人正在努力参与到人类正常 的劳动中。这时，他的思考更显得弥足珍贵。 5月的马来西亚吉隆坡，日均气温徘徊在26摄氏度左右，白天高温可以达到32摄氏度。炽热的阳光毫无 保留地倾洒，温热潮湿的风总是扑面而来。 穿过严格的安保程序，我在吉隆坡文化东方酒店等待中国最炙手可热的创业明星。 由于《财富》杂志在这里举办"东盟-海合会-中国经济论坛"，一些中国最重要的企业家被邀请至此。 在这份长长的企业家名单中，宇树科技创始人王兴兴的名字并不靠前，但毫无疑问的是，他代表未来。 王兴兴穿着白衬衫，背着双肩背包姗姗来迟。今年2月，他参加了由中国最高决策层举 ...

签下商单与完成交付、落地干活、获取数据反馈训练之间，仍有差距。 今年以来，以宇树、智元、优必选等为代表的头部厂商先后披露合计超2亿元人民币的人形机器人订单，同时，多家具身厂商在WRC大会中公布了相关订单 数据，规模达到上百台。第一财经记者从大会了解到，购买这些机器人的客户主要来自于运营商、车企、3C及半导体企业等。 不过订单数据与真实落地仍然存在差距。首程控股董事会办公室总经理康雨对第一财经记者表示，有的公司冲订单是为了融资，有的订单签下来也要看具体 履行期是多久，有的虽然单子签下来了，但受限于供应链产能变化，未必能按时交付。从投资人的视角来看，对订单数据要十分审慎。 "有订单是好事，说明商业路径跑通了，但机器人落地需要给客户算清楚经济账，大额订单目前更多提供的是信息价值、品牌价值等附加值。"自变量机器人 CEO王潜对记者表示，行业距离落地的临界点并不太远，预估一年左右时间或可达到，不论是自变量还是其他友商。 商单情况密集披露 截至目前，机器人行业签下的大额订单仍以智元、宇树、优必选为首。智元机器人与宇树科技共同中标中国移动旗下中移（杭州）信息技术有限公司（简 称"中移杭"）1.24 亿元人形机器人采购订单。 ...

新闻8点见，多一点洞见。每天早晚8点与你准时相约，眺望更大的世界。 8月14日至17日，2025世界人形机器人运动会将在北京国家速滑馆（冰丝带）举行。来自全球五大洲16个国家的 280支队伍、500余台人形机器人将展开26个赛项、538个比赛项目的竞技对决。众多人形机器人的竞技，让这场运 动会充满看点。 其实，就全球范围而言，这不是第一个机器人运动会。早在2004年，RoboGames就在美国加利福尼亚州的圣马特 奥市举行了第一届赛事，至今已经有二十余年历史，吸引了世界各地的机器人爱好者和工程师参与，运动会上也 屡有中国队伍夺冠。 而本次运动会的特色在于，这是全球首个人形机器人运动会，更聚焦于那些具有类人形态和具身智能的机器人， 这是其和RoboGames最显著的区别。 RoboGames诞生的背景是传统机器人概念，而人形机器人运动会背后，则是近年来全球科技最大的风口之一，代 表着最前沿的机器人技术趋势。传统机器人更多依赖于机械工程和自动化控制技术，而当下的大部分人形机器人 除了在外形与人类更"像"之外，其更大的特色是人工智能和深度学习。 一个不可回避的现实是，人形机器人在科技上虽然极为前沿，但由于兴起时间尚 ...

证券研究报告 | 产业经济点评 2025 年 08 月 13 日 [Table_Main] 产业经济点评 证券分析师 程强 资格编号：S0120524010005 邮箱：chengqiang＠tebon.com.cn 陈梦洁 资格编号：S0120524030002 邮箱：chenmj3＠tebon.com.cn 周天昊 资格编号：S0120525040002 邮箱：zhouth＠tebon.com.cn 大盘突破前高，后市怎么看？ [Table_Summary] 投资要点： 请务必阅读正文之后的信息披露和法律声明 事件：8 月 13 日，大盘放量突破前高，沪指 8 连阳，市场量能突破 2 万亿。上证 指数涨 0.48%报 3683.46 点，深证成指涨 1.76%，创业板指涨 3.62%创年内次高 涨幅，万得全 A 涨 1.02%，北证 50 涨 0.84%。A 股全天成交 2.18 万亿元，创年 内次高。板块方面，CPO、铜产业、光芯片概念领涨，煤炭开采、新疆振兴、鸡产 业概念逆势下跌。 本次突破后指数上行空间被打开且伴随着量能的突破，后续持续性更佳。1）我们 认为本轮其广度和深度都超过了以往的牛市行情，市 ...

Core Viewpoint - The article emphasizes the importance of fostering innovation among young scholars in the field of humanoid robotics through organized events like the "Youth Scholar Salon" [1][2]. Event Information - The "Youth Scholar Salon" will take place from August 22 to August 27, 2025, at Beihang University, Hangzhou International Campus [1]. - The event is organized by Beihang University, the China Aviation Engineering Technology Development Strategy Research Institute, and the Hangzhou Beihang International Innovation Research Institute [1]. Event Content - The salon will feature keynote reports from senior experts in the field [1]. - Participants will engage in team presentations to foster innovative paradigms and stimulate creative energy [1]. - Experts will provide in-depth guidance and feedback to inspire and identify promising young talents [1]. Registration Details - Young scholars aged 35 and below are invited to participate and must confirm attendance by August 14, 2025 [1][2]. - Participants are responsible for their own transportation costs [2].

Core Viewpoint - The current landscape of dexterous hand technology is characterized by diverse approaches from different manufacturers, with no unified solution yet established, reflecting a balance between performance, cost, and reliability [1] Summary by Sections Trends in Dexterous Hand Technology - The core area of differentiation in technology routes is the transmission system, with Tesla's Optimus evolving from a "worm gear + tendon" solution to a rumored "screw + tendon" hybrid transmission for its fourth generation, enhancing freedom while optimizing force transmission efficiency [2] - Domestic companies primarily use linkage transmission, such as the RH56BFX series from Yinshi Robotics, which achieves 11 degrees of freedom through linkage and spring transmission [2] - Some companies have broken through the limitations of previous solutions, like Zhiyuan Robotics' five-finger dexterous hand using a mixed scheme of screw + linkage + turbine rod + tendon, indicating a potential return to the mainstream for the screw + tendon composite scheme [4] Technical Innovations and Challenges - Innovations have addressed previous bottlenecks of tendon solutions, with domestic manufacturers finding better solutions to issues like precision control and wear [6] - The use of ultra-high molecular weight polyethylene fiber (UHMWPE) in tendon materials has shown promise, with Chinese production accounting for nearly 50% of global supply [8] - Tactile sensors have become standard in dexterous hands, with various implementations enhancing environmental interaction capabilities [8][10] - The main technical challenges lie in hardware and software, particularly in achieving high degrees of freedom within compact structures while controlling costs [10][12] Market Dynamics and Player Strategies - The dexterous hand market participants can be categorized into three main groups: self-research entities, new dexterous hand forces, and component extension players, each leveraging unique advantages to occupy niche markets [15] - Self-research entities focus on optimizing overall machine performance through in-house dexterous hand development, while new forces prioritize core technology breakthroughs and rapid market entry [17] - Component extension players leverage supply chain advantages, with companies like Zhaowei Electromechanical and Leisai Intelligent developing dexterous hands that integrate self-researched micro-reducers and sensors [19] Future Outlook - The industry is expected to experience significant growth, driven by continuous investment, policy support, and the expansion of application scenarios [22] - Deep bionic design is seen as a long-term direction for dexterous hand development, aiming to fully simulate human hand functions and reduce interaction costs [22] - The integration of AI models with dexterous hands is anticipated to enhance operational skill learning and adaptability, supporting the scale application of dexterous hands in various fields [24][25]

Group 1 - Zhejiang University developed a high-mobility quadruped robot named "White Rhino," which set a Guinness World Record by completing a 100-meter sprint in 16.33 seconds. The robot's design involved precise dynamic modeling and multi-objective optimization algorithms to enhance its performance [3][4] - The robot features a high-power density joint actuator that provides strong torque and quick response, akin to a "race car" muscle system. Its intelligent movement capabilities are driven by a dynamic control strategy based on reinforcement learning algorithms [3][4] - Future applications for "White Rhino" include disaster rescue and transportation in extreme terrains, expanding its utility beyond just speed [3] Group 2 - NVIDIA introduced a new world AI model called Cosmos Reason, designed for robotics and physical applications, featuring 70 billion parameters. This model enhances the reasoning capabilities of robots and AI agents, allowing them to plan actions based on memory and physical understanding [6][7] - The Cosmos model series also includes Cosmos Transfer-2, which accelerates the generation of synthetic data from 3D simulations, aimed at training robots and AI agents [6][7] Group 3 - A team from Northwestern Polytechnical University and Hong Kong universities developed a multifunctional soft robot based on a new type of electroactive polymer, suitable for complex structures and extreme environments. This new material significantly reduces heating and enhances dielectric and mechanical properties [9][10] - The new polymer exhibits over 50% reduction in heating, a lifespan extension of more than 15 times, and a 1.75 times increase in output force, achieving a strong adsorption force of 30 kPa at a low electric field of 2 V/μm [9][10] Group 4 - A collaboration between Ocean University of China and North Carolina State University resulted in a novel soft robot that integrates driving and sensing capabilities. This "C-shaped bipedal micro soft robot" can move quickly and detect its environment through vibration sensing [12][14] - The robot, measuring only 11 mm in length and weighing 0.071 grams, can travel at a speed of 42.8 body lengths per second and carry loads up to 3.47 times its weight, making it suitable for applications in hazardous environments [12][14] Group 5 - Guangzhou Yingbo Intelligent Technology Co., Ltd. secured several million yuan in financing for its service robot brand "Paibao Robot." The funds will be used to establish a production base in Zhanjiang, Guangdong, and to develop quadruped robots and humanoid robots [14] - "Paibao Robot" aims to enhance its capabilities in commercial robotics and expand its "AI + patrol robot" business model, focusing on overseas market development [14]

Core Viewpoint - Shenzhen Yushu Intelligent Robot Co., Ltd. has undergone significant changes, including an increase in registered capital and the introduction of a new strategic shareholder, Zhiyuan Innovation [1][6]. Group 1: Company Overview - Yushu Intelligent was established in March 2025 as a subsidiary of Yuhua Tian Group, focusing on artificial intelligence applications and intelligent robot development [4]. - The company has increased its registered capital from 50 million to 52.6316 million yuan [1]. Group 2: Leadership and Management - Zhou Ping, Chairman of Yuhua Tian Group, has taken over as Chairman of Yushu Intelligent, bringing extensive management experience [3]. - Yang Bo, Vice President of Yuhua Tian Group, serves as the President of Yushu Intelligent, leveraging his expertise in the smart cleaning robot industry [3]. Group 3: Strategic Direction and Product Development - Yushu Intelligent aims to integrate technology and services, focusing on urban service sectors with a strategy of "operating platform + intelligent equipment + smart services" [3]. - The company is developing various intelligent robots, including unmanned cleaning vehicles and sorting robots, to create comprehensive smart sanitation solutions [3]. Group 4: Strategic Partnerships and Innovations - The partnership with Zhiyuan Innovation aims to establish a technological hub for embodied robotics, enhancing key technology research and data asset development [6]. - The collaboration will lead to the creation of the first "Smart Sanitation Large Model," integrating operational data and intelligent decision-making algorithms for urban service digitalization [6][7]. - Yushu Intelligent has also established the Shenzhen Yushu Embodied Robot Innovation Center, focusing on AI and robotics integration [7].

Core Viewpoint - The article highlights the rapid development and potential of exoskeleton technology in addressing the mobility needs of the elderly population in China, particularly in the context of the 2025 World Robot Conference and the increasing demand for mobility assistance devices [1][3][19]. Group 1: Market Potential and Demand - The 2025 World Robot Conference saw 1.3 million attendees, indicating a strong interest in robotics, particularly exoskeletons, which are expected to see a surge in consumer applications [1][3]. - There are 310 million elderly individuals in China, creating a significant market for mobility solutions like exoskeletons [1]. - The global exoskeleton market is projected to grow from $1.76 billion in 2024 to $30.56 billion by 2032, with a compound annual growth rate (CAGR) of 43.1% [16]. Group 2: Technological Advancements - Traditional exoskeletons faced challenges in adapting to individual users, particularly the elderly, due to fixed parameter control systems [4][5]. - The introduction of AI and deep learning has improved the adaptability of exoskeletons, achieving a 99.2% accuracy in gait prediction [5][7]. - The "踏山AsExo-TK1000" exoskeleton weighs only 2.7 kg, significantly lighter than earlier models, making it more practical for daily use [8][10]. Group 3: Application Scenarios - Exoskeletons are being tested in various scenarios, including tourism and elder care, with successful pilot programs in places like scenic spots and nursing homes [11][13]. - The technology is also being applied in industrial settings, with potential users in high-intensity labor sectors such as manufacturing and construction [13][15]. - In the medical rehabilitation field, exoskeletons can benefit stroke patients and those with partial mobility impairments [15]. Group 4: Accessibility and Pricing - The cost of exoskeletons has decreased significantly, with some products now priced around 9,800 yuan, making them more accessible to the general public [16]. - The company aims to create affordable products to meet the needs of elderly individuals and their families [16][19]. - The establishment of experience centers in multiple cities is part of the strategy to promote awareness and accessibility of exoskeleton technology [19].

2025 世界机器人大会 " 先进机器人与自动化国际学术会议 " 共收到来自中国、法国、美国、新加坡等 10 个国 家的 87 篇论文。经过前期盲审和现场答辩等严格评审流程，评选出 " 最佳学生论文 "—— 《基于深度学习的内 窥镜肺叶切除术手术阶段检测》《基于石墨烯的超灵敏主动脉压力传感器》和 " 最佳会议论文 "—— 《基于相位 表面肌电信号（ sEMG ）的肌肉激活起始点检测》。中国电子学会副理事长兼秘书长、总部党委书记、世界机器 人大会先进机器人与自动化学术会议主席陈英为 " 最佳学生论文 " 和 " 最佳会议论文 " 作者颁奖。 8 月 12 日，为期 5 天的 2025 世界机器人大会在京落下帷幕。从行业应用的精准赋能，到生活场景的智慧融 入；从人形机器人的灵动跃迁，到具身智能的革新突破。这场以 " 让机器人更智慧，让具身体更智能 " 为主题的 国际盛会，通过高水平的论坛研讨、前沿的展览展示、激烈的赛事竞技以及丰富的配套活动，全方位、多维度呈 现了全球机器人领域的最新技术突破、创新应用场景与未来发展趋势，为全球机器人产业高质量发展注入澎湃动 能。 全国政协常委、致公党中央副主席、全国妇联副主席、工 ...