机器人产业ETF（159551）跟踪的是机器人指数（H30590），该指数从市场中选取涉及机器人研发、制 造及应用相关业务的上市公司证券作为指数样本，涵盖工业机器人、服务机器人及相关零部件制造等领 域。指数成分聚焦机器人产业链核心环节，旨在反映机器人行业上市公司证券的整体表现，兼具科技创 新属性与长期成长空间。 湘财证券指出，2025年12月我国制造业PMI较前值回升0.9个百分点至50.1%，重回扩张区间，生产、新 订单和新出口订单等分项指数均有不同程度回升，主要系政策效果持续落地及春节备货等因素所致。展 望2026年，随着国内政策持续发力，叠加"反内卷"等措施有望带动制造业盈利能力修复，制造业景气度 有望逐渐回升，从而带动上游机械设备总体需求持续好转。机器人领域方面，2025年国内人形机器人出 货量或超1.8万台，灵心巧手完成A++轮融资，成为全球唯一量产千台高自由度灵巧手的公司，占全球 市场份额80%以上。 1月5日，机器人产业ETF（159551）涨超1%，制造业景气回升或提振需求 风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供参 考，不代表其未来表现，亦不构成 ...

摘要 政策支持与标准化：工信部发布人形机器人发展指导意见并成立标准化 委员会，为产业商业化奠定基础，中美两国或将在机器人领域展开竞争。 2026 年展望：预计 2026 年机器人行业将从主题元年转向量产和产品 化，人形机器人销量榜单或将出现，盈利预测至关重要。 市场关注：市场对特斯拉产业链保持高度关注，尤其是在高压电器及其 相关技术领域，国内厂商需展示技术进步和商业应用潜力。 技术趋势：四杠陶瓷球和氮化镓在驱动系统中的应用值得关注，特斯拉 审厂预示 2026 年量产问题仍是重要议题。 基金板块表现：基金板块近期表现良好，受益于调整时间较长、产业链 推化预期以及商业航天资金切入。 投资策略：关注围绕确定性和边际变化（弹性）的投资标的，如总成环 节的大市值公司和从车端转向机器人的公司。 行业催化剂：2026 年一季度特斯拉三代机器人发布及国内机器人本体 量产版本发布将带来机会，下半年关注量产及应用端方向。 Q&A 为什么在当前时点特别关注机器人行业？是否有特定的催化因素或信号？ 当前时点特别关注机器人行业有几个原因。首先，从政策和数据的角度来看， 目前处于一个真空期，这有利于提升市场风险偏好，进而对新兴产业如商业 ...

加班、浮躁、攀比、裁员……汽车人被"卷"走。 编者按：近年来，新能源与智能化浪潮为汽车行业带来了百年未有之变局。在此期间，市场机遇与乱象 并存 —— 无序内卷、过度营销、安全争议、品牌浮沉等，不断重塑产业生态。行至 2025 年岁末，再空洞 地谈渗透率与智驾，似已缺乏新意。时代的洪流奔涌向前，而最真实、最动人的注脚，往往就源自那些 躬身入局的平凡个体。本栏目将以人为镜，透过一个个普通汽车人的故事，记录这段属于中国的、波澜 壮阔的汽车变革之旅。 "你看，大型汽车集团的CEO都受不了汽车，跑去卖奢侈品了。"今年6月中旬，当看到雷诺CEO卢卡·德· 梅奥将卸任，转而出任奢侈品巨头开云集团CEO的消息时，赵凡第一时间就转发给了车圈的一个朋友。 赵凡在一家头部新能源车企工作，曾经历过拿20多个月年终奖的合资车企"光辉岁月"，但近两年所在公 司越来越多的月度加班时间排名、部门费用排名等指标，已经压得他几乎喘不过气，并多次产生了转行 的想法。 在过去很长一段时间内，作为高端制造业的汽车，相关岗位都被大众视为一份体面的工作，不少传统汽 车城的本地居民甚至都将进入汽车行业当作重要人生目标，"新四化"时代的到来，很多跨行人才也慕 ...

有报道称特朗普政府考虑支持机器人行业，美国商务部长卢特尼克与机器人行业的CEO们会面，并“全力以赴”地加速该行业的发展。#行情 美股机器人概念股走高，特斯拉涨超4%，iRobot飙升近74%。日本工业机器人念股周四大幅上涨。发那科股价涨7.0%，安川电机上涨6.2%，哈默纳科涨10%。 https://t.co/wE0szxA8k1 ...

专题：2025分析师大会：资本市场"奥斯卡"！机构称A股迎全球资本涌入的大牛市 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ "作为今天身兼两职的颁奖嘉宾，同时也是您的研究对象，此刻我的CPU都快过热了！"人形机器人远征 以科技感十足的幽默开场，顺势抛出趣味提问："特别想知道，通过研究我所在的行业拿下这份荣誉， 您此刻是什么心情？" 面对这一独特场景，代川首先致谢："感谢新浪财经的用心安排，这大概率是历史上最神秘的一次颁奖 了。"他随后分享了从业十年的行业观察："我们团队覆盖机械行业已整整十年，行业名称的变迁正是发 展的缩影——从最初的'机械行业'，到后来的'高端装备'，再到今年新浪财经定义的'机器人及高端装 备'，名称迭代背后，是产业机会的持续升级。" 代川回顾道，十年间行业历经周期波动，但产业机遇从未缺席。"去年我们的年度策略主题是'向海外， 向未来'，一方面把握海外市场的投资机会，另一方面聚焦前沿产业布局。即便今年国内宏观环境面临 波动，机械行业仍实现了亮眼的业绩增长，催生了不少优质投资标的。" 他特别强调了机器人行业的爆发式成长："这背后离不开我身边这位'兄弟'所在的赛道。 ...

Core Insights - The robot industry in China has experienced rapid growth in production and revenue during the first three quarters of this year [1] Industry Performance - The revenue of the robot industry increased by 29.5% year-on-year [1] - The production of industrial robots reached 595,000 units [1] - The production of service robots amounted to 13.5 million sets [1] - Both industrial and service robot production have already surpassed the total expected production for the entire year of 2024 [1]

Core Insights - The Chinese robotics industry is experiencing robust growth driven by recovering domestic and international demand, supportive policies, and continuous product performance improvements, indicating a historical opportunity for development [1] - The report suggests focusing on leading companies in both complete machines and components that have market advantages and strong performance certainty [1] Industrial Robots - In September 2025, China's industrial robot production reached 76,300 units, marking a year-on-year increase of 28.3%; from January to September 2025, production totaled 594,800 units, up 29.8% year-on-year [2] - The rapid growth in industrial robot production significantly outpaces the overall industrial value-added growth, reflecting strong industry demand and sustained growth momentum [2] - The increase in production is attributed to domestic manufacturing enterprises investing more in industrial robots to address rising labor costs and upgrade their industries, alongside strong demand from emerging sectors like new energy vehicles and lithium batteries [2] Service Robots - In September 2025, the production of service robots was 1.7127 million units, with a year-on-year growth of 4.7%; for the first nine months of 2025, production reached 13.501 million units, up 16.3% year-on-year [3] - The cumulative production for the first three quarters maintained a double-digit growth, indicating a solid market demand and deepening application penetration across various industries [3] - The service robot market is expanding, with applications moving from sectors like healthcare and logistics to agriculture and emotional companionship, promoting an ecosystem that integrates hardware, software, and services [3]

Group 1: Robot ETF Performance - The Robot ETF (159770) saw a significant increase, rising over 1% during intraday trading on September 3, 2025, with a transaction volume of 206 million yuan by 10:00 [3] - The ETF's latest scale reached 8.249 billion yuan, with a total of 7.776 billion shares, both hitting record highs since its inception [3] - The ETF experienced continuous net inflows over the past four days, with a maximum single-day net inflow of 229 million yuan, totaling 324 million yuan [3] Group 2: Leverage and Fund Inflows - The Robot ETF has seen sustained interest from leveraged funds, with net purchases over three consecutive days, peaking at 35.9627 million yuan in a single day, bringing the latest financing balance to 247 million yuan [3] - The ETF closely tracks the CSI Robot Index, with significant holdings in companies such as Huichuan Technology, iFlytek, and Stone Technology [3] Group 3: Yushu Technology's Listing Progress - Yushu Technology announced plans to submit its listing application to the stock exchange between October and December 2025, with relevant operational data to be disclosed at that time [4] - In 2024, sales of quadruped robots, humanoid robots, and component products are expected to account for approximately 65%, 30%, and 5% of total sales, respectively [4] - Approximately 80% of quadruped robots are utilized in research, education, and consumer sectors, while the remaining 20% are applied in industrial fields such as inspection and firefighting [4] Group 4: Industry Trends and Developments - The humanoid robot industry is experiencing accelerated capitalization, with companies like Zhiyuan Robotics completing strategic financing rounds [4] - Recent events, such as Nvidia's new model launch and major orders signed by Tian Tai Robotics, have catalyzed market activity in the robotics sector [4] - The combination of 3D printing technology and new materials is expected to drive the miniaturization of core components to meet the lightweight demands of robots [4]

Group 1 - Company is actively preparing for its initial public offering (IPO) and plans to submit listing application documents between October and December [1] - Revenue structure for 2024 is projected with quadruped robots accounting for approximately 65%, humanoid robots for 30%, and components for 5% of total sales [1] - Approximately 80% of quadruped robots are used in research, education, and consumer sectors, while the remaining 20% are utilized in industrial applications such as inspection and firefighting [1] Group 2 - Company has completed 10 rounds of financing, with the latest being a C round in June 2023, involving major investors like China Mobile, Tencent, Alibaba, and others [2] - Company has received 85 bidding notifications this year, primarily from industrial sectors and universities [2] Group 3 - Company reported annual revenue exceeding 1 billion yuan and a workforce of around 1,000 employees [3] - The humanoid robot industry is expected to experience significant growth, with an average increase of 50%-100% for manufacturers due to policy support [3] - Company anticipates that the global humanoid robot industry could double in annual shipment volume over the next few years, with potential breakthroughs leading to shipments of hundreds of thousands to millions of units within 2-3 years [3]

Core Viewpoint - Unitree Technology is actively preparing for its initial public offering (IPO), with plans to submit listing application documents between October and December 2023, and will disclose relevant operational data at that time [1] Group 1: Company Overview - Unitree Technology's revenue structure for 2024 is projected to consist of approximately 65% from quadruped robots, 30% from humanoid robots, and 5% from component products [1] - The company has undergone a name change from Hangzhou Unitree Technology Co., Ltd. to Hangzhou Unitree Technology Co., Ltd. in May 2023 [1] - The controlling shareholder of Unitree Technology is Wang Xingxing, who holds a total of 34.7630% of the company's shares [1] Group 2: Financial and Investment Background - Unitree Technology has completed 10 rounds of financing, with the latest being a C round in June 2023, involving investments from major companies such as China Mobile, Tencent, Alibaba, Ant Group, Geely Holding, and Meituan [2] - The company has received 85 bidding notices this year, primarily from industrial sectors and universities [2] Group 3: Industry Insights - Wang Xingxing stated that Unitree Technology's annual revenue has exceeded 1 billion yuan, and the company has grown to approximately 1,000 employees [3] - The humanoid robot industry is expected to experience significant growth, with an average increase of 50%-100% for each company in the sector due to strong demand and policy support [3] - It is projected that the global humanoid robot industry could double its shipment volume annually in the coming years, with potential breakthroughs leading to shipments of hundreds of thousands to millions of units within 2-3 years [3]