（文章来源：证券日报） 证券日报网讯 12月24日，格力博在互动平台回答投资者提问时表示，公司确有招募四足机器人相关储 备人才的动作，这是基于对新兴领域的长期关注与人才布局考量，目前相关方向仍处于市场与技术的前 期调研阶段。 ...

如果说2025是人形机器人和四足机器人的元年，那么即将到来的2026年，这个产业的格局会发生哪些重 要变化？ 日前，野村证券发布研究报告指出，全球人形及四足机器人市场仍处萌芽阶段，行业头部玩家格局清 晰：人形机器人领域以特斯拉和Figure AI为主，四足机器人领域则以波士顿动力领跑。 但在2026年，中国人形及四足机器人行业的量产进度将赶超特斯拉。野村认为，这主要得益于中国多数 企业的产品设计策略——为实现更快量产及更低成本，主动舍弃了高拟人化性能，如采用轮式底盘、非 灵巧手方案等。 01 特斯拉Optimus：明年预计量产6-8万台 全球人形及四足机器人市场仍处萌芽阶段，受供应链复杂度高、技术壁垒突出等因素影响，量产进度整 体慢于初期预期。 据野村从供应链企业处获取的信息测算，这家头部机器人企业或将于2026年3月后启动产能爬坡，2026 年预计交付6万-8万台Optimus，到2026年下半年周产能有望达到1000-2000台。 若要达成这一目标，核心供应商需具备非中国地区产能。特斯拉方面表示，初期Optimus将优先部署于 自有工厂，承担重复性任务以快速提升生产效率，同时持续迭代技术，计划2027年实 ...

Core Viewpoint - The company Baoxin Technology (002514.SZ) plans to establish a joint venture in Chengdu, Sichuan, with Zhishen Technology and Shuyang Media, aiming to integrate its new energy technology with the partners' smart technology and media resources to expand its business development platform [1] Group 1 - The joint venture will have a registered capital of 40 million RMB, with Baoxin Technology contributing 20.4 million RMB, representing 51% of the total capital [1] - The joint venture will be consolidated as a subsidiary of Baoxin Technology [1] - The investment is driven by the strategic development needs of the company [1]

Core Insights - Unitree Technology is set to launch a new quadruped robot product, emphasizing its compact size and industry-leading performance, with power performance approximately double that of the Go2 model [1][4] Product Overview - The new quadruped robot is expected to feature enhanced power performance, with specifications indicating it will outperform the existing Unitree Go2 model [4] - The Go2 model, launched in July 2023, offers three versions: AIR, PRO, and EDU, with a starting price of 9,997 yuan [4] - The Go2 is equipped with a self-developed 4D LiDAR L1, providing a 360°×90° hemispherical perception range, with a minimum detection distance of only 0.05m [4] Technical Specifications - The Go2 can perform various actions such as jumping, stretching, shaking hands, and sitting, showcasing its versatility [4] - It features an 8000mAh battery, with an optional 15000mAh long-lasting battery, and an upgraded voltage of 28.8V [4] - The robot's joint peak torque reaches 45N·m, and it includes a heat pipe-assisted cooling system to effectively reduce device temperature [4] Advanced Features - The new robot utilizes a wireless vector positioning and control technology, improving positioning accuracy by 50% and remote control distance exceeding 30 meters [4] - It incorporates obstacle avoidance strategies to better adapt to complex environments [4] - With user authorization, the robot can automatically connect to cloud OTA services for program upgrades and optimizations [4]

Core Insights - The company reported strong financial performance for the first three quarters of 2025, with revenue reaching 275 million yuan, a year-on-year increase of 46.71%, and a net profit attributable to shareholders of 53.35 million yuan, up 20.27% [1] - In Q3 2025, the company achieved revenue of 113 million yuan, a 48.46% increase year-on-year, driven by the expansion of sales from major clients [1] - The automotive industry is experiencing a shift towards intelligent and lightweight components, with the global automotive plastic parts market expected to exceed 180 billion USD by 2025, driven by the demand for lightweight and environmentally friendly solutions [1] Business Development - The company has begun to realize value in the new energy vehicle sector, supplying major manufacturers such as BYD, Li Auto, and NIO, with comprehensive coverage in the automotive window systems sector [2] - The company has made breakthroughs in emerging business areas, including supplying components for magnetic levitation pumps in the semiconductor field and delivering samples for robotic joints in the quadruped robot sector [2] - The long-term growth potential remains strong as the company expands its presence in various industries, including military applications [2] Profit Forecast and Investment Rating - The company maintains its profit forecast, expecting revenues of 383 million yuan, 492 million yuan, and 606 million yuan for 2025-2027, with net profits of 81 million yuan, 103 million yuan, and 129 million yuan respectively [2] - Corresponding EPS for the same period is projected to be 1.22 yuan, 1.55 yuan, and 1.94 yuan, with PE ratios of 28.27, 22.19, and 17.71 respectively [2] - Given the strong performance and industry transformation benefits, the company maintains a "buy" rating [2]

Core Insights - The World Robot Conference showcased advanced robotic dogs, including industrial inspection models capable of detecting toxic gases [1] - Laser-equipped robotic dogs were introduced, featuring hundreds of watts of power for targeting and igniting small objects [3] - Robotic dogs with net-launching capabilities and stun grenade functions were also presented, enhancing their operational versatility [4] Group 1 - The four-legged robots have evolved to perform various tasks such as vehicle recognition, harmful gas detection, and nuclear-biochemical detection [6] - These robots can navigate complex terrains and have the ability to autonomously recharge, eliminating concerns about power depletion [8] - Communication among these robotic units is facilitated through 5G networks, radio, and Wi-Fi, allowing them to coordinate effectively for special missions [10]

Group 1 - The company, Beiwai Technology (002148.SZ), clarified on an interactive platform that it does not have any business related to quadruped robots [1] - The mobile gaming business, which includes titles such as "SimCity: My City" and "Super Simple Dungeon," is projected to have a comprehensive gross margin of 63.53% in the first half of 2025 [1] - The news regarding Tianyu Jingwei winning a bid and collaborating on drone delivery trials is not accurate [1]

Core Insights - Zhiyuan Robotics has launched three quadruped robot products targeting the entertainment and education sectors, namely D1 Pro, D1 Edu, and the industrial-grade D1 Ultra [1][3] Group 1: Product Features - D1 Pro weighs 15 kg and can reach a maximum running speed of 3.7 m/s without wheels, capable of jumping 35 cm high and climbing stairs of 16 cm [3] - D1 Edu is designed for educational and research purposes, featuring standardized expansion interfaces for further development and equipped with reinforcement learning algorithms for autonomous navigation in complex terrains [3] Group 2: Market Applications - D1 Pro can perform complex actions such as synchronized jumping and backflips, which can significantly reduce equipment investment costs in the entertainment industry through a rental model [3] - D1 Edu provides real-world scenario data support for research in motion control and environmental perception, making it suitable for educational and research applications [3]

Core Points - The Zhejiang University Cross Mechanics Center has developed a high-mobility quadruped robot named "Bai Xi" which has set a new Guinness World Record for the fastest 100 meters by a quadruped robot, completing the distance in 16.33 seconds [1] - This achievement surpasses the previous record of 19.87 seconds held by the South Korean robot "Hound" [1]

Market Overview - On August 6, a total of 77 stocks in the A-share market hit the daily limit, with 63 stocks remaining after excluding 14 ST stocks, resulting in an overall limit-up rate of 75.49% [1] - The highest limit-up order volume was recorded by Tongling Nonferrous Metals, with 833,800 hands, followed by China Shipbuilding Industry, Zhong An Keji, and Beiwai Technology, with limit-up orders of 646,600 hands, 288,300 hands, and 230,000 hands respectively [1] Limit-Up Stocks Summary - The top three stocks by limit-up order funds were Beijiajie (5.06 billion), Changcheng Jincheng (3.46 billion), and Tongling Nonferrous Metals (3.36 billion) [1] - Beijiajie closed at 44.97 yuan with a turnover rate of 3.99%, driven by probiotics, the three-child policy concept, oral care, and exports [2] - Changcheng Jincheng closed at 46.98 yuan with a turnover rate of 5.88%, influenced by military equipment restructuring, ammunition and weaponry, and a narrowed mid-term loss [2] - Tongling Nonferrous Metals closed at 4.03 yuan with a turnover rate of 7.75%, supported by share buybacks, copper foil expansion, and state-owned enterprise reform [2] - China Heavy Industry closed at 5.15 yuan with a turnover rate of 4.24%, boosted by absorption and merger, shipbuilding, and state-owned enterprise reform [2]