您已成功加入会议 感谢大家参加本次会议会议即将开始请稍后感谢大家参加本次会议会议即将开始 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后感谢大家参加本次会议会议即将开始 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后感谢大家参加本次会议会议即将开始 感谢大家参加本次会议会议即将开始请稍后 The meeting is ready to start.Please remain on the line.感谢大家参加本次会议会议即将开始请稍后Thanks for your participation.The meeting is ready to start.Please remain on the line. 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后感谢大家参加本次会议会议即将开始 感谢大家参加本次会议会议即将开始请稍后感谢大家参加本次会议会议即将开始 感谢大家参加本次会议会议即将开始请稍后 感 ...

结语： 纵观近期产业链的动态，可以清晰地看到一个趋势：2026年确已不再是人形机器人停留在概念与样机 的"测试期"，而是正式迈入了以订单和量产为核心的"商业化验证元年" 。上游核心零部件供应商正逐 步从送样测试阶段走向小批量商业化落地。 2026年2月26日，海泰科在互动平台表示，公司已获得人形机器人客户的小批量订单。不过，公司也强 调相关产品尚未交付，订单金额较小，对总营收的贡献比例较低。 据智能制造网梳理，随着人形机器人下游需求的爆发，自2026年以来，一批掌握核心材料、精密加工与 关键模组技术的零部件供应商开始获得实质性的量产订单。 2月25日，昊志机电在互动平台回答投资者提问时表示，公司的谐波减速器、行星减速器与关节模组等 核心产品，已经向部分人形机器人厂商进行送样。不过公司也提示，目前机器人核心功能部件的相关业 务销售收入占比较小，尚未对公司业绩产生重大影响。 1月14日，蓝思科技在互动平台表示，公司已经构建起从核心零部件到整机组装的垂直整合制造平台。 目前，公司已为国内外多家头部机器人客户进行批量交付，交付产品既包括人形机器人和四足机器人整 机，也涵盖了头部模组、关节模组、灵巧手、液态金属、铝镁合 ...

Investment Rating - The report maintains an "Optimistic" rating for the chemical industry [3][4]. Core Insights - The macroeconomic outlook for the chemical industry indicates a stable increase in oil demand due to global economic improvement and tariff adjustments, with Brent oil prices expected to remain in the range of $60-75 per barrel [3][4]. - The report highlights a potential recovery in the export chain due to the reduction of tariffs on Chinese products, which is expected to boost the chemical sector's performance [3][4]. - The report suggests that the chemical industry is at a cyclical turning point, with demand expected to rise as downstream operations resume post-holiday [3][4]. Summary by Relevant Sections Macro Economic Analysis - Oil supply is constrained due to OPEC+ production delays and peak shale oil output, while demand is stabilizing with improved global economic conditions [3][4]. - Coal prices are expected to stabilize at a long-term bottom, and natural gas costs may decrease as the U.S. accelerates its export facility construction [3][4]. Industry Dynamics - The report notes significant advancements in robotics showcased during the Spring Festival, indicating a key commercialization year for robotics in 2026, with related materials expected to see increased demand [3][4]. - The chemical sector is advised to focus on investment opportunities in the textile chain, agricultural chemicals, and overseas real estate chains, with specific companies highlighted for potential growth [3][4]. Price Trends - Recent data shows a decrease in oil prices and an increase in coal prices, with the overall industrial PPI showing a slight decline year-on-year but an increase month-on-month [6][9]. - Specific chemical product prices, such as PTA and MEG, have shown mixed trends, with PTA prices slightly increasing while MEG prices have decreased [9][10]. Company Valuations - The report includes a valuation table for key companies in the agricultural chemicals and chemical fertilizer sectors, indicating growth in net profits and maintaining a positive outlook for several firms [15].

本报记者 贾丽 吴奕萱 正月初二的宁波海洋世界，海洋剧场外的互动场景格外吸睛，四台四足机器人与两台人形机器人伴着歌 曲的欢快节奏灵活舞动，引得大批游客驻足打卡。 火爆景象的背后，是2026年春节期间机器人租赁需求的集中释放。擎天租（上海）科技有限公司（以下 简称"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1000单。整个 春节假期内，平台整体GMV（交易总额）预计环比增长80%。至春节假期结束，平台累计订单量预计 将突破5000单。 擎天租CEO李一言对《证券日报》记者表示，公司春节前一周订单量增速进一步放大，今年春节期间 （初一至初七）平台订单环比增长近70%，预计节后仍将保持50%左右的高位增长。 需求端同样在加速扩散。京东数据显示，北京、深圳、长沙等一线及新一线城市为主力消费市场，并逐 步向下沉市场渗透。 北京云迹科技股份有限公司（以下简称"云迹科技"）CEO李全印向《证券日报》记者透露，2026年春节 假期，云迹科技机器人任务执行量达去年同期的2.2倍，AI智能语音管家Voice AI单日最高通话量同比去 年激增515%。江苏、浙江等经济活跃、商旅与本地游双旺地区的机 ...

Group 1 - The core viewpoint of the article highlights that Shoucheng Holdings (0697.HK) has emerged as the biggest "behind-the-scenes winner" in the robotics sector showcased during the 2026 Spring Festival Gala, with several of its portfolio companies participating [1] - Shoucheng Holdings has invested over 2 billion RMB in the robotics industry, completing more than 40 transactions and covering approximately 20 leading companies, including Yushu Technology and Galaxy General [1] - The company has extended its investment strategy to upstream core materials by establishing Shoucheng Robotics Advanced Materials Company, focusing on critical areas such as electronic skin and PEEK lightweight materials [1] Group 2 - Shoucheng Holdings is not merely a financial investor but has developed a unique strategy of "capital + scenarios + ecosystem," providing real testing environments for its portfolio companies through its own resources [2] - The company has opened "Tao Zhu New Creation Bureau" robotics experience stores, facilitating the connection from technology demonstration to the consumer end, thus enhancing its position in the commercialization wave of robotics [2] - With companies like Yushu Technology expected to initiate IPOs in 2026, the investment value of Shoucheng Holdings is anticipated to reach a concentrated realization period [2]

格隆汇2月17日｜松延动力创始人、董事长姜哲源表示：这次上春晚不只是秀技术，更想让大家看到机 器人有温度、会互动的温情一面，顺便把品牌打响、把订单做起来，也让资本市场更看好公司。 面对 行业里"不需要一百万台跳舞机器人"的讨论，他也直言不讳——跳舞不是终点，只是现阶段展示技术的 办法，未来机器人肯定要扎进真实作业场景里去，而先靠现有技术活下去、跑通商业化，才是企业最基 础的底气。 他也给出了松延动力的目标：锚定量产和交付，把产能、品控做扎实，走出属于自己的路 线。 ...

主会场上，六台魔法原子人形机器人MagicBot Z1和两台MagicBot Gen1与易烊千玺、言承旭等艺人同台演出；宜宾分会场 中，上百台四足机器人MagicDog以"国宝熊猫"造型呈现大型群控表演。 松延动力参与的小品《奶奶的最爱》，是人形机器人首次出现在春晚语言类节目中，旗下产品N2、E1、小布米和演员蔡明 的仿生人形机器人全部登台演出。 2026年央视春晚，是机器人登场密度最高的一届。四家牵手总台春晚的机器人厂商分别通过小品、武术、歌曲舞蹈、贺岁 微电影等形式展出。 今晚松延动力CMO张淼对第一财经记者表示，通过语言类节目来展现产品的决定，系去年春晚导演组到公司考察，看到人 形机器人与仿生机器人两条产品线，并体验过所有产品后做出的。公司听取导演组意见后，配合支持节目完成。 宇树科技创始人王兴兴表示，今年机器人在快速奔跑中完成了穿插变阵和武术动作，这种高动态、高协同的集群控制技术 是全球首次亮相。"这个动作非常实用，为后续机器人在其他场景集群或单台机器人调度做好了铺垫"。 魔法原子机器人除了主舞台歌舞表演，Z1还在分会场完成单手倒立支撑跳、托马斯、踢月腿360°特技等一系列高难度动作 展示。以"单手倒 ...

Core Insights - The Spring Festival Gala showcased various robotic performances, highlighting advancements in humanoid and bionic robots, with companies like Songyan Power and Yushu Technology participating prominently [1][6][8] Group 1: Company Performances - Songyan Power featured humanoid robots in a skit, marking the first appearance of humanoid robots in a language program during the gala [1] - Yushu Technology presented their G1 and H2 humanoid robots performing martial arts and character roles, demonstrating high dynamic and collaborative control technology [6] - MagicBot Z1 performed complex stunts, showcasing the capabilities of robotic motion control and coordination [6] Group 2: Technical Challenges - The performance required precise movement and human-like interactions, necessitating advanced training data and technical solutions for lip synchronization [4] - The collaboration with core joint suppliers ensured the stability and reliability of robotic joints during live performances, which is critical for maintaining performance consistency [4] Group 3: Market Implications - Participation in the Spring Festival Gala serves as a significant platform for companies to showcase their technological prowess and enhance brand visibility [8] - The year 2025 is seen as crucial for technological breakthroughs and production capabilities, while 2026 is anticipated to be pivotal for commercializing robots in real-world applications [8]

Core Insights - The 2026 CCTV Spring Festival Gala featured the highest density of robots, showcasing various performances including skits, martial arts, songs, and micro-movies [2] - Multiple robotics companies participated, highlighting their technological capabilities and enhancing brand visibility through this national platform [8] Group 1: Robotics Performance - Six MagicBot Z1 humanoid robots and two MagicBot Gen1 robots performed alongside celebrities like Yi Yangqianxi and Yan Chengxu at the main venue [2] - Hundreds of four-legged MagicDog robots performed in the shape of "national treasure panda" at the Yibin sub-venue [2] - The skit "Grandma's Favorite" featured humanoid robots for the first time in a language program, showcasing products like N2, E1, and Bumi [2] Group 2: Technical Challenges - The limited space in skit formats required precise performance from robots, including human-like movements and interactions [4] - Achieving accurate lip synchronization for dialogue involved complex engineering, with 12 degrees of freedom in the lip area and a custom expression driving algorithm [4] - The collaboration with core joint supplier Quan Zhibo involved extensive rehearsals to ensure joint module stability during live performances [4] Group 3: Innovation and Future Outlook - Yushutech's G1 and H2 humanoid robots performed martial arts and showcased high dynamic, coordinated control technology for the first time globally [6] - The MagicBot robots demonstrated advanced stunts, including single-handed handstands and 360-degree kicks, requiring high levels of coordination and power management [6] - The participation of multiple robotics companies in the gala reflects a strategic move to break down barriers with potential clients and build brand trust [8] - The year 2026 is seen as pivotal for the commercialization of robotics, focusing on mass production and establishing commercial channels for effective delivery [8]

2026.02. 16 本文字数：1706，阅读时长大约3分钟 作者 | 第一财经 吕倩 封图 | 央视春晚 2026年央视春晚，是机器人登场密度最高的一届。四家牵手总台春晚的机器人厂商分别通过小品、武 术、歌曲舞蹈、贺岁微电影等形式展出。 主会场上，六台魔法原子人形机器人MagicBot Z1和两台MagicBot Gen1与易烊千玺、言承旭等艺人同 台演出；宜宾分会场中，上百台四足机器人MagicDog以"国宝熊猫"造型呈现大型群控表演。 松延动力参与的小品《奶奶的最爱》，是人形机器人首次出现在春晚语言类节目中，旗下产品N2、 E1、小布米和演员蔡明的仿生人形机器人全部登台演出。 今晚松延动力CMO张淼对第一财经记者表示，通过语言类节目来展现产品的决定，系去年春晚导演组 到公司考察，看到人形机器人与仿生机器人两条产品线，并体验过所有产品后做出的。公司听取导演组 意见后，配合支持节目完成。 魔法原子机器人 松延动力机器人 春晚直播"零容错"，这直接转化为对关节模组稳定性的终极考验。陈万楷对记者表示，其中的难点在 于，关节需要在长时间的排练、候场和正式直播中始终保持性能一致性，不能有任何单点失效。包括行 星减 ...