今年的春晚，说不定啊要成为机器人行业的"年度产品发布会"了。 就在这几天，宇树科技、魔法原子、银河通用这几家中国顶尖的机器人公司，就像约好了一样，接连放 话要上2026年的春晚。 你可能会问：这些搞硬核科技的公司，为啥要花这么大心思，来抢一个文艺晚会的"出道位"呢？这背后 可不是简单地上个电视、露个脸那么简单。今天，我们就来聊聊"机器人"们为啥争着上春晚出道。 咱们先从一个老朋友说起——宇树科技。这家公司可是春晚的"三朝元老"了。早在2021年牛年春晚，他 们的机器牛"犇犇"就亮过相。去年更猛，他们的H1人形机器人在张艺谋导演的节目《秧BOT》里，穿 着花棉袄扭秧歌，直接火出圈！ 而今年另外两位新"选手"，来头也不小。 魔法原子，这家公司2024年1月才成立，由前小米"铁蛋"机器狗核心团队创立，妥妥的行业新贵，产品 线从四足机器狗到人形机器人都有。 银河通用，他们主攻的是"具身大模型"，即专注为机器人打造一个能理解世界、自主决策的AI大脑。 2023年才成立，但融资速度像坐火箭，估值已经冲到了30亿美元。 那么问题来了：这些科技公司为啥非要上春晚呢？ 在科技圈，能登上国家级最高规格的舞台，对于正在激烈竞争、急 ...

本期业绩变化的主要原因：受益于机器人行业需求快速增长，公司机器人业务营收同比大幅提升，成为驱动公司整体业绩增长的核心引擎；同 时，公司通过精细化运营管理，实施控费增效措施，期间费用增长幅度小于收入增长幅度，使得净利润实现快速增长。 （原标题：步科股份(688160.SH)：预计2025年归母净利润6800万元到8000万元，同比增加39.08%到63.63%） 格隆汇1月29日丨步科股份(688160.SH)公布，经财务部门初步测算，公司预计2025年年度实现归属于母公司所有者的净利润6800万元到8000万 元，与上年同期(法定披露数据)相比，将增加1910.84万元到3110.84万元，同比增加39.08%到63.63%。 归属于母公司所有者的扣除非经常性损益的净利润5500万元到6600万元，与上年同期(法定披露数据)相比，将增加1731.72万元到2831.72万元，同 比增加 45.95%到75.15%。 ...

近期，2025年基金四季报陆续新鲜出炉，对于投资者关心的后市走向及投资机会，透过这些披露的四季 报或许能窥见一些投资线索。我们一起来看看长城久鑫基金经理余欢的最新研判。 回顾2025年四季度，A股市场主要指数涨跌互现，其中上证指数上涨2.22%，深证成指下跌0.01%，创业 板指下跌1.08%，科创50下跌10.10%；从行业板块表现来看，石油石化、国防军工、有色等板块涨幅居 前，房地产、医药、计算机等板块跌幅居前。 近期，2025年基金四季报陆续新鲜出炉，对于投资者关心的后市走向及投资机会，透过这些披露的四季 报或许能窥见一些投资线索。我们一起来看看长城久鑫基金经理余欢的最新研判。 回顾2025年四季度，A股市场主要指数涨跌互现，其中上证指数上涨2.22%，深证成指下跌0.01%，创业 板指下跌1.08%，科创50下跌10.10%；从行业板块表现来看，石油石化、国防军工、有色等板块涨幅居 前，房地产、医药、计算机等板块跌幅居前。 在长城久鑫混合2025年四季报中，基金经理余欢表示，重点关注机器人板块，关注在机器人行业的核心 零部件企业、关节模组制造商及整机制造集成商等行业上下游企业，这些企业分布在汽车、机械 ...

Group 1 - The core viewpoint of the article highlights the recovery of the manufacturing sector in China, with the manufacturing PMI rising by 0.9 percentage points to 50.1 in December 2025, indicating a return to the expansion zone [1] - The increase in the manufacturing PMI is attributed to the sustained effects of policy implementation and preparations for the Spring Festival, with production, new orders, and new export orders all showing varying degrees of improvement [1] - Looking ahead to 2026, continued domestic policy support and measures to reduce competition are expected to enhance the profitability of the manufacturing sector, leading to a gradual recovery in manufacturing sentiment and an improvement in overall demand for upstream machinery and equipment [1] Group 2 - In the robotics sector, it is projected that the domestic shipment of humanoid robots will exceed 18,000 units in 2025, with Lingxin Qiaoshou completing A++ round financing and becoming the only company globally to mass-produce over 1,000 high-freedom dexterous hands, capturing over 80% of the global market share [1] - The Robotics Industry ETF (159551) tracks the Robotics Index (H30590), which selects listed companies involved in the research, manufacturing, and application of robotics, covering industrial robots, service robots, and related component manufacturing [1] - The index focuses on core segments of the robotics industry chain, aiming to reflect the overall performance of listed companies in the robotics sector, combining technological innovation attributes with long-term growth potential [1]

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 ...

Core Viewpoint - The automotive industry is undergoing significant changes due to the dual forces of opportunity and chaos, driven by the waves of new energy and intelligent technology, leading to increased competition, employee burnout, and a trend of professionals leaving the sector for other industries [1][2]. Group 1: Industry Challenges - The automotive sector has seen a rise in "involution," where employees face excessive competition and pressure, leading to a decline in job satisfaction and an increase in turnover [2][4]. - Many employees report a shift from a balanced work-life schedule to extended hours, with some experiencing a significant increase in workload without corresponding salary increases [3][5]. - The industry's competitive landscape has resulted in layoffs and a challenging job market, making it difficult for professionals to find suitable positions within the sector [4][5]. Group 2: Employee Transitions - A notable trend is the migration of automotive professionals to other industries, such as healthcare and robotics, where they seek better work-life balance and less stressful environments [3][11]. - Employees like Li Ai and Wang Fang have successfully transitioned to less demanding roles in other sectors, highlighting a growing preference for jobs with clearer boundaries and reduced pressure [3][5]. - The robotics industry is becoming increasingly attractive to automotive engineers, with significant growth potential and a more stable work environment compared to the automotive sector [11][12]. Group 3: Market Dynamics - The automotive industry's profit margins have been declining, with sales profit rates dropping to 3.9% in October 2025, significantly below historical averages, which has further pressured employee compensation and job security [12][13]. - The competition in the automotive market has intensified, leading to a focus on cost-cutting and efficiency rather than innovation, which may hinder long-term growth and development [12][13]. - The shift towards robotics and automation is seen as a potential growth area, with predictions indicating a substantial market opportunity in the coming years, contrasting with the saturated automotive market [11][12].

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]