中信建投研报认为，近期各地发布机器人相关产业支持政策，给予一定产业补贴或消费补贴。世界机器 人大会依旧保持空前的热度，国产机器人百花齐放。产业链相关的灵巧手、关节模组零部件、传感器等 环节均有多种方案齐头并进，有望加速具身智能机器人迭代。具身智能产业链相关的进步正不断被看 到，后续仍有世界人形机器人运动会、智元机器人合作伙伴大会、Optimus三代机发布、国产机器人招 投标等潜在催化值得关注。我们继续看好板块整体行情，推荐产业趋势更优、放量更快的传感器、灵巧 手、垂类应用端、国产供应链条等环节。 ...

Core Insights - Wolong Electric Drive (卧龙电驱) has demonstrated steady growth in its performance, with a revenue of 8.031 billion yuan in the first half of 2025, marking a year-on-year increase of 0.66%, and a net profit attributable to shareholders of 537 million yuan, up 36.76% [2][3] Financial Performance - In the first half of 2025, the company achieved a net cash flow from operating activities of 710 million yuan, a significant increase of 100.57% year-on-year, with a net cash ratio exceeding 1 [3] - The overall gross margin improved from 24.05% at the end of 2024 to 25.49% in the first half of 2025, an increase of 1.44 percentage points [4] - The company reported a revenue of 16.247 billion yuan for the full year of 2024, reflecting a 4.37% year-on-year growth, and a net profit of 793 million yuan, up 49.63% [2] Business Strategy - Wolong Electric Drive has actively adjusted its business structure by divesting four subsidiaries in the renewable energy sector for 726 million yuan, allowing it to focus on its core business of motors and drive control [4] - The company is expanding its footprint in the robotics sector, developing humanoid robots and industrial automation solutions, and has formed strategic partnerships with various robotics firms [4][6] Market Position - The company has established a strong competitive advantage in the global market through acquisitions of several well-known motor and control product manufacturers, enhancing its brand influence and technological capabilities [5] - Approximately 40% of the company's revenue is derived from overseas markets, indicating a significant contribution from international operations [5] Research and Development - From 2023 to the first half of 2025, the company invested a total of 1.515 billion yuan in R&D, maintaining a high R&D expense ratio of around 3.9% [7] - The company has established a robust product line management system and is actively pursuing partnerships with academic institutions to strengthen its technological core competencies [7]

Core Insights - The 2025 World Robot Conference was held in Beijing from August 8 to 12, showcasing advancements in robotics technology and applications, with a focus on making robots smarter and more capable [20][21] - The event featured 220 domestic and international robot companies, launching 123 new products and displaying 1,569 items, indicating a significant growth in the robotics industry [20] - The conference attracted 271,000 attendees and had 52 million live stream viewers, highlighting the growing interest and engagement in robotics [20] Industry Developments - Robots are increasingly integrated into various sectors such as manufacturing, logistics, security, home services, and healthcare, demonstrating their importance in social production and daily life [21] - The emergence of humanoid robots represents a significant innovation, moving towards productization and industrialization, driven by advancements in artificial intelligence [21] - The robotics industry is expected to stimulate new consumption, create new industries, and contribute to economic development and improved quality of life [22]

Group 1 - The World Robot Conference held in Beijing from August 8 to 12 showcased significant advancements in robotics, featuring 220 domestic and international companies, 123 new product launches, and 1,569 products on display [1][2] - The event attracted 271,000 attendees and 52 million online viewers, highlighting the growing interest and engagement in robotics technology [1][2] - Sales figures indicated a strong market presence, with 19,000 robots and related products sold, generating over 200 million yuan in revenue [1] Group 2 - The conference reflected a transformation in China's robotics technology, emphasizing innovation in applications, production, and industry integration [2] - Robots demonstrated enhanced capabilities, including millisecond-level action response and improved stability, flexibility, and coherence through algorithm optimization [2] - The integration of artificial intelligence in various sectors such as manufacturing, logistics, security, and healthcare is driving the adoption of robots, indicating a shift towards productization and industrialization of humanoid robots [2]

Core Insights - The 2025 World Robot Conference concluded in Beijing, showcasing over 200 domestic and international robotics companies, highlighting Beijing's strong appeal as a national robotics industry hub [6][7] - Beijing's Economic and Information Technology Bureau announced the successful completion of the "Double Hundred Project," which aimed to cultivate 100 high-value-added robotic products and 100 applicable scenarios ahead of schedule [6][7] - The robotics industry in Beijing is expanding across various sectors, including medical, logistics, manufacturing, and services, with significant advancements in technology [6][7] Industry Developments - The conference featured cutting-edge robotic technologies and products, including bionic bees and humanoid combat robots, demonstrating the latest innovations in the field [6][7] - The introduction of the VIATRIX exoskeleton robot, inspired by the film "The Wandering Earth 2," received significant attention for its practical applications in enhancing mobility [7] - The bionic bee developed by FESTO is noted for its autonomous collective flight capabilities, showcasing advanced group control technology [7] Medical Applications - Robotics technology has been successfully integrated into medical procedures, with Beijing Union Medical College Hospital performing complex surgeries using robotic assistance, achieving significant advancements in precision and efficiency [7][8] - The use of robots in logistics at JD.com's Asia No. 1 warehouse has improved operational efficiency by five times through automated processes [7][8] Educational Integration - Beijing is exploring the integration of robotics into education, deploying various robotic solutions in schools to enhance learning experiences [8] - The city has initiated a humanoid robot marathon, promoting the development and application of humanoid robotics in competitive settings [8] Future Prospects - The Beijing government plans to accelerate the application of robotics, focusing on innovation, expanding service scenarios, and optimizing resource support [8] - The local robotics industry is projected to exceed 30 billion yuan in revenue by 2024, with a nearly 50% year-on-year growth anticipated [8] - The establishment of a comprehensive robotics ecosystem in Beijing is underway, with over 400 core robotics companies and a focus on collaborative innovation [8]

8月11日，亿纬锂能与维他动力正式达成机器人业务深度合作。双方将基于用户需求和机器人动力电池 技术发展趋势，推进具身智能产品化量产的进一步发展。 资金流向方面，亿纬锂能当日主力资金净流出2931.79万元，近五日主力资金净流入3032.19万元。 风险提示：以上内容仅供参考，不构成投资建议。市场有风险，投资需谨慎。 亿纬锂能股价报45.93元，较前一交易日下跌1.42%。盘中最高触及46.34元，最低下探至45.31元，成交 量为38.29万手，成交金额达17.51亿元。 亿纬锂能主营业务为锂原电池和锂离子电池的研发、生产和销售，产品广泛应用于消费电子、新能源汽 车、储能系统等领域。公司是国内领先的锂电池制造商之一。 ...

本报记者 李万晨曦 "2025年被视为具身智能机器人量产元年，工业场景成为其规模化商用的首个突破口。远征A2-W的规模化商业落地不仅是 企业之间产业生态合作升级，也标志着我国工业具身智能产业链从技术验证迈向规模应用新纪元。核心零部件供应商、系统集 成商、制造业企业以及科研机构等产业链主体迎来了新机遇。"北京科方得科技发展有限公司研究负责人张新原在接受《证券 日报》记者采访时表示。 科技部国家科技专家库专家周迪在接受《证券日报》记者采访时表示，与传统工业机器人相比，具身智能机器人具备环境 感知、自主决策和灵活执行能力，能够适应非结构化场景，代表了机器人技术的未来发展方向。 "当下，具身智能机器人在汽车制造、电子装配、物流仓储等领域，毫米级精密装配、柔性产线自主适配等场景的应用落 地，标志着其有望在工业领域实现规模化商用。"周迪说。 前述远征A2-W便是主要为柔性智造场景打造的，其拥有40个主动自由度的关节和仿人灵巧双手，搭配轮式底盘，可广泛 应用于周转箱拆码垛、搬运、上下料等多种场景。今年7月份，远征A2-W成功完成了两班制、单班搬运800余个周转箱的任 务，作业直播3小时0失误，充分展现了其在长时间、高强度、 ...

Core Insights - The 2025 World Robot Conference concluded successfully in Beijing, showcasing advancements in robotics technology and applications, emphasizing the theme "Making Robots Smarter and Bodies More Intelligent" [1][17] - The event featured high-level forums, exhibitions, competitions, and various activities, highlighting the latest breakthroughs and future trends in the global robotics industry [1][17] Industry Developments - The conference attracted global participants from government, industry, academia, and research sectors, facilitating productive discussions aimed at sustainable development in the robotics industry [3] - A total of 123 new products were unveiled during the conference, demonstrating significant innovations in the robotics field [7] Academic Contributions - The "Advanced Robotics and Automation International Academic Conference" received 87 papers from 10 countries, with awards given for the best student and conference papers, showcasing the academic engagement in robotics research [5] Innovation and Collaboration - The "2025 'Innovation Star' Project Roadshow" created a platform for efficient connections between technology, capital, and industry, resulting in multiple cooperation intentions for commercializing cutting-edge technologies [12] - The conference emphasized the importance of international cooperation and innovation in advancing the robotics sector, with a commitment to fostering a collaborative ecosystem [3][17]

8月14日，2025世界人形机器人运动会将在国家速滑馆"冰丝带"盛大开幕，一场集结26个赛项、487场巅峰对决 的机器人竞技盛会即将精彩上演！赛事将于8月15日至17日的3天里火热开展，每日分为上、下午两个竞赛单 元，每个单元持续约3小时。此外，每个竞赛单元还设置2-3次颁奖仪式。 据悉， 业内头部企业【 宇树科技 】 已经通过官方渠道正式宣布，将携自主研发的人形机器人产品参加。 除自 有团队参赛外，多支其他参赛队伍也将选用宇树机器人作为硬件平台，搭载各自研发的算法参与这场全球性竞 技。 以下是全部竞赛日程，欢迎围观： | 田径 | 10:00-11:00 | 100米障碍(第一组) | 馆外东侧 | | --- | --- | --- | --- | | | 15:00-18:00 | 400米(预、复、决赛) | 国家速滑馆 FOP区 | | | 17:00-18:00 | 100米障碍(第二组) | 馆外东侧 | | 足球3V3 | 09:00-11:30 | 小组赛 | 国家速滑馆 | | | 15:00-17:30 | 小组赛 | FOP区 | | 足球5V5 | 09:00-11:50 | 小组赛 ...

中国互联网发展的每一代潮头上都有清华人的身影，比如搜狐张朝阳、美团王兴、快手宿华等。 有趣的是，坐拥深圳清华大学研究院、清华大学深圳国际研究生院等分支机构，深圳是除北京外清华校 友最多的城市。当前，清华创客正批量"南下"，超60家"清华系"上市公司扎根深圳；清华校友创办的硬 科技独角兽有53家，深圳占比30%以上。 "清华系"在深崛起，背后藏着怎样的故事？我国高校长期面临专利"沉睡"难题，清华将为高校科研成果 转化探出一条怎样的路径？ 近两年，AI与机器人浪潮汹涌，清华人亦投入其中。智谱AI、月之暗面、光年之外、小马智行等明星 企业，创始团队均可见清华力量。 近日，深圳南山区举行"X-Day"西丽湖路演社清华校友项目专场。南方财经记者现场获悉，截至2024年 底，"清华系"在科创板/北交所/港交所上市企业共97家，总市值3.8万亿元。清华也是全国培养AI创业者 最多的高校，覆盖大模型、自动驾驶、AI芯片、具身智能机器人等领域。 "南下"All in AI与机器人 4月，智谱AI启动A股IPO辅导，成为国内"大模型六小虎"首家启动IPO的企业。 成立于2019年的智谱有极强的"清华系"色彩：创始人、首席科学家唐 ...