2026年春节期间，机器人租赁需求正在集中释放。擎天租数据显示，截至2月12日，平台已累计收到覆盖春节假期的订单超过 1000单，综合预约情况测算，整个春节周期内，擎天租订单规模预计将突破5000单，平台整体GMV预计环比增长约80%。 擎天租CEO李一言2月13日在接受证券时报在内的媒体采访时表示，需求量大量增长不仅是春节旺季原因，还包括机器人使用场景越来越丰富以及B端场 景需求持续释放带来的指数级增长。 "平台目前最大的压力是订单量过多，而履约力量没那么多。"李一言坦言。 在需求快速放量的背景下，擎天租2月13日同步启动全国城市合伙人战略，开启全国城市合伙人招募，并宣布于3月在上海举办首届城市合伙人战略发布 会。李一言同时透露，公司最近与投资方接触，投资市场主流机构表达了浓厚兴趣，"融资规划与节奏较紧密，年后将持续为融资做准备"。 突破5000单 机器人租赁迎来"史上最热" 2026年春节档成为了机器人租赁行业有史以来最热闹的一次"压力测试"。 擎天租坦言，当前的最大的压力是订单量过多，履约的人没那么多，不得不婉 拒一些订单。 擎天租平台数据显示，截至2月12日，平台已累计收到覆盖春节假期的订单超过100 ...

Market Overview - On February 13, A-shares experienced a collective decline, with the ChiNext Index leading the drop, closing down 0.96%. The Shanghai Composite Index fell by 0.7%, and the Shenzhen Component Index decreased by 0.67%. The total trading volume in the Shanghai and Shenzhen markets reached 1.2 trillion yuan, with over 2,600 stocks declining [1]. Sector Performance - The military industry sector showed strong performance, with Aystar Anchor Chain (601890) hitting the daily limit. The semiconductor sector was active, with concepts related to photolithography and photolithography adhesives rapidly rising. Guofeng New Materials (000859) achieved two consecutive trading limits in four days, while Fuchuang Precision rose over 12%. Semiconductor equipment concepts continued to strengthen, with Shenghui Integration (603163) hitting the daily limit and reaching a historical high [2]. - In contrast, the port and shipping sector saw a collective decline, with China Merchants Energy (600026) and China Merchants Shipping (601872) experiencing significant drops. The photovoltaic equipment sector weakened, with leading stock Shuangliang Energy (600481) hitting the daily limit and losing 2 billion yuan in market value in one day. Other stocks like GCL-Poly Energy (002506) fell over 8% [3]. Hong Kong Market - The Hong Kong market opened lower and continued to decline, with the Hang Seng Index down 1.8% and the Hang Seng Tech Index down 1.6%. Major tech stocks saw declines, with Tencent Music dropping over 10%, Meituan down over 4%, and Baidu Group down 4%. Other companies like JD.com, Bilibili, Li Auto, Alibaba, and Trip.com also experienced declines of over 2% [3]. - The semiconductor sector in Hong Kong showed strength, with Aixin Yuan Zhi rising over 16% and Tian Shu Zhi Xin increasing over 9%. Other stocks like Zhaoyi Innovation (603986) and Brain Hole Technology also saw gains. The large model concept stocks performed actively, with Zhipu Technology reaching a historical high of 492 HKD before narrowing its gains to 12%, having increased over 120% this week [3]. New Listings - The new stock Haizhi Technology Group had an impressive debut, rising over 268% during the day to 99.6 HKD, with a profit of 14,505 HKD per lot based on the issue price of 27.06 HKD per share. The public offering phase recorded an oversubscription of 5,065.06 times, ranking among the top in recent years for Hong Kong IPOs [4]. - Industrial analysts at Industrial Securities expressed optimism for the Hong Kong market, suggesting a "technology bottom + cyclical recovery + beta in dividends" approach to embrace the spring market. Current short-selling transactions account for about 19.2%, indicating that market sentiment has reached a relatively low point, providing momentum for a short-term rebound [4].

Market Overview - On February 13, A-shares experienced a collective decline, with the ChiNext Index leading the drop, closing at a decrease of 0.96% [1] - The Shanghai Composite Index fell by 0.7%, while the Shenzhen Component Index decreased by 0.67% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.2 trillion yuan, with over 2,600 stocks declining [1][2] Index Performance - Shanghai Composite Index: 4105.04, down 28.98 points (-0.70%) [2] - Shenzhen Component Index: 14187.44, down 95.55 points (-0.67%) [2] - ChiNext Index: 3295.99, down 32.07 points (-0.96%) [2] - Total A-shares: 6800.24, down 33.64 points (-0.49%) [2] Sector Performance - The military industry sector showed strong performance, with stocks like Yaxing Anchor Chain hitting the daily limit [3] - The semiconductor sector was active, with significant gains in stocks related to photolithography machines and materials, such as Guofeng New Materials and Fuchuang Precision [3] - Storage prices continued to rise in January, with DRAM and NAND Flash industries reaching record high outputs [3] Declining Sectors - The port and shipping sector saw a collective decline, with stocks like COSCO Shipping Energy and China Merchants Jinling experiencing significant drops [4] - The photovoltaic equipment sector weakened, highlighted by the sharp decline of Shuangliang Energy, which saw a market value loss of 2 billion yuan in one day [4] Hong Kong Market - The Hang Seng Index fell by 1.8%, with the Hang Seng Tech Index down by 1.6% [4] - Major tech stocks in Hong Kong, including Tencent Music and Meituan, experienced declines of over 10% and 4%, respectively [4][6] Notable Stock Movements - Semiconductor stocks like Aixin Yuan Zhi and Tian Shu Zhi Xin saw gains of over 16% and 9%, respectively [7] - The new stock Haizhi Technology Group had a remarkable debut, surging over 268% on its first day of trading [8] Market Sentiment - Current market sentiment in Hong Kong is relatively low, with short-selling transactions accounting for about 19.2%, indicating potential for a short-term rebound [8]

客户选择星动纪元的核心原因是ERA-42端到端模型的真干活能力——在物流分拣场景中，我们的机器 人能在非结构化环境下完成智能扫码、分拣，效率达到人类70%以上，且具备极强的泛化能力，无需预 编程即可处理不同形状、材质的包裹。目前，星动纪元在仓储物流、快递物流领域已形成标准化解决方 案。 2026年，星动纪元的机器人在这些场景的效率有望达到90%，这关键的20%提升是软硬件协同优化、端 到端VLA模型迭代、数据飞轮运转的共同结果。其中端到端架构的优势在于能实时反馈、实时控制， 这本身就提升了节拍。 2026年，我希望星动纪元能实现千台级别的出货，万台是更长期的目标。当前行业最大的制约因素不是 供应链或交付能力，而是需求验证和产品打磨。机器人降本的方式太多了，凭借中国制造业的能力，降 低硬件成本不是问题，但首要目标是让产品跑通，因为产品验证比成本优化难度更高、更关键。 有种说法是，2026年会是具身智能公司洗牌年，我相信星动纪元会是坚持到最后的一家。坚持到最后需 要三大能力：第一是模型与算法架构能力，这决定了系统能力的天花板；第二是数据与工程化能力，这 决定能否逼近上限；第三是软硬一体化全栈能力，确保大脑与本体深 ...

近日，极智嘉发布全球首款人形通用仓储机器人Gino1，推动仓储物流行业迈入多智能体全域协同的无 人时代。 这表明，极智嘉已锚定一条聚焦"仓储原生，创收导向"的差异化路径。Gino1通过面向仓储场景的定向 设计与数据训练，在实现性能与效率跃迁的同时优化成本效益，有效降低客户规模化部署门槛，加速推 动产品迈入规模化商业落地阶段。 据了解，Gino1通过具身大脑Geek+Brain对极智嘉多年积累的海量仓储数据进行训练，并结合大规模仿 真强化学习，形成了类人的通用操作能力，能从事仓储拣货、搬箱、打包、巡检等多任务，实现了"一 台机器人覆盖仓内主流人工操作场景"，引领仓储行业实现从移动智能化到操作智能化的跨越。 Gino1的高效智能化操作，源于其软硬件一体化的技术底座：硬件端集成头部多目视觉、三指灵巧手、 仿人全关节力控双臂等先进配置，精准响应仓储作业中的精度、柔性与效率需求，搭载NVIDIA Blackwell的NVIDIA Jetson Thor机器人计算机，提供超强算力；软件端则搭载新一代具身智能VLA快慢 协同系统，使机器人能够模仿人类的认知与执行力进行全域自主作业，为仓储自动化带来复杂任务高效 执行、智能行 ...

2025年对具身智能行业来说，是非常重要的一年，对于星动纪元也是。我会把这一年定义为"技术突破与商业化验证双轨并进年"。 这一年，我见证了具身智能从技术尝试走向真实场景部署的拐点。一方面，星动纪元自研了ERA-42端到端VLA具身大模型，实现了对全尺寸双足人形机器 人全身及五指灵巧手的精准控制，成为全球仅有的四家能做到这一点的公司之一；另一方面，星动纪元总订单额突破5亿元，物流行业最大单笔订单近5000 万元，海外业务占比达50%，全球TOP10市值的科技巨头中有9家成为我们的客户。 星动纪元第一个真正意义上的商业化订单就出现在2025年，订单来自海外科研客户，他们看中了星动XHAND1五指灵巧手。 这件事的起点其实挺朴素的。2025年初，星动XHAND1发布时，我发了一条朋友圈，分享了团队在灵巧手技术和产品上取得的突破，海外顶尖机构的研究 人员主动找来，询问能否采购。这些机构在使用后，认可了我们产品的性能、稳定性，进行复购，有的客户多次批量采购。 2026年，星动纪元的机器人在这些场景的效率有望达到90%，这关键的20%提升是软硬件协同优化、端到端VLA模型迭代、数据飞轮运转的共同结果。其中 端到端架构的优 ...

智能体和具身智能是通向通用人工智能（AGI）的必经之路！ 今日（2月13日），港股智谱盘初快速拉升，涨超20%，股价再创新高。过去5个交易日，该股最大涨幅达 142%。2月12日凌晨，智谱发布新一代模型GLM-5。火遍全球的神秘模型"Pony Alpha"揭开面纱。业界称，这 是继DeepSeek后，国产AI大模型春节档的又一爆款。 智能体与具身智能的融合，是AGI的必经之路，也是打开具身智能市场容量的必要环节。近期，机器人也在预 热当中。宇树科技创始人王兴兴谈及具身智能赛道时表示，未来热度或是现在的1000倍，远超移动互联网。 智能体彻底爆发 今日早盘，智谱盘初快速拉升涨超20%，股价一度达到492港元/股，再创上市以来新高，与上周五（2月6日） 的收盘价203.2港元/股相比，最近一周累计涨幅达142%。今日消息面显示，此前Coding Plan连续包月、连续包 季、连续包年套餐全部售罄。 真正令智谱爆发的还是它的大模型。近日，智谱正式推出新一代旗舰模型GLM-5，主攻编程与智能体能力， 官方称已实现开源领域最优表现。GLM-5参数规模由上一代的355B扩展至744B，激活参数从32B提升至40B。 智谱 ...

Core Viewpoint - The annual meeting, a modern corporate phenomenon in China, reflects a company's financial strength, cultural values, and market position, evolving from traditional industries to tech companies that now dominate the spotlight [1][6]. Group 1: Evolution of Annual Meetings - The grandeur of annual meetings has shifted from real estate and internet giants to new tech players like AI and smart hardware companies, showcasing extravagant events and significant employee rewards [1][6]. - Companies like ZhiYuan and Chasing have transformed their annual meetings into large-scale events, with ZhiYuan offering cash rewards and Chasing hosting a concert-like atmosphere [1][7]. - The trend of substantial year-end bonuses continues, with companies like Kuaishou and Momo providing significant rewards, such as stock options and high-end electronics [5][8]. Group 2: Importance of Employee Engagement - Annual meetings serve as a platform for companies to enhance their image and attract talent, emphasizing the importance of employee recognition and motivation [13][19]. - The concept of "petting the employee persona" is crucial, as companies aim to create a positive narrative around their workforce to attract top talent in a competitive market [15][19]. - CEO personas are also highlighted during these events, with leaders using the platform to communicate company values and future directions [15][19]. Group 3: Changes in Corporate Culture - The shift in focus from extravagant benefits to effective performance management reflects a broader change in corporate culture, with companies recognizing the need for precise incentive distribution [20][24]. - The decline of traditional welfare culture in Silicon Valley is mirrored in China, where companies are reassessing their approach to employee benefits and incentives [20][24]. - The evolving landscape of annual meetings indicates a need for companies to balance employee satisfaction with effective management practices, addressing the complexities of human behavior in organizational settings [24][25].

数据是具身智能"大小脑"演进的核心，也是现阶段产业发展的最大瓶颈。据测算，2026年行业高质量有 效数据缺口超500万小时，数据供给能力不足已成为制约产业发展的关键因素。 校对王菲 作为专注于具身智能数据服务的平台型企业，觅蜂科技其全栈技术，真机数据一致性、数据仿真验证精 度均处于行业前列。 晓风 近日，具身智能数据平台觅蜂科技(Maniformer)宣布完成数亿元种子轮与天使轮融资，本轮融资由红杉 中国领投，鼎晖VGC、BV百度风投、云锋基金、慕华科创等顶级资本跟投，均普智能、灵初智能等产 业机构同步参与。此次融资将重点用于技术研发、产能扩充与全球化布局，以及构建全球顶尖数据质量 管理体系及数据联盟，助力觅蜂科技夯实具身智能数据基础设施核心定位，破解行业数据发展瓶颈，推 动产业规模化落地。 值得关注的是，觅蜂科技核心团队成员来自海内外顶尖的自动驾驶、整车企业、人工智能实验室及互联 网大厂，覆盖数据、模型、仿真、解决方案等多个领域，为技术研发与服务交付提供人才支撑。商业化 布局方面，觅蜂科技已与全球多家科技、互联网巨头企业达成深度合作。 ...

Core Insights - The embodied intelligence sector is currently experiencing significant interest, driven primarily by advancements in AI technology [1] - The growth trajectory of the robotics and embodied intelligence industry is expected to steepen, with potential breakthroughs in large-scale applications of AI models and robotic technologies [1] - Future interest in embodied intelligence could surpass that of the mobile internet, with projections suggesting a potential increase in heat by at least 100 to 1000 times compared to the current phase [1] Industry Summary - The robotics and embodied intelligence industry is in a developmental phase, often described as a "climbing" or "platform" stage [1] - The current excitement surrounding the industry is not at its peak, indicating that further advancements and applications are anticipated in the coming years [1]