2025年末，具身智能踏入消费级产品的上市期。随着 面向个人与极客的四足及小型人形机器人开始上市销售 ，海量真实世界数据 将 推动其运动控制与决策中枢进入井喷式发展。与此同时， 小鹏、众擎 等 厂商在全尺寸人形机器人上取得的运动能力突破 ， 可 以预见，机器人产业正迈入一个能力全面升级的关键时期。 当机器人的 "大脑"（大模型）与"四肢"（移动能力）愈发强大，价值实现的"最后一 厘米 "便落在了 灵巧操作 上。一双灵巧的手， 是机器人从被动 "观察者"蜕变为主动"劳动者"的关键， 是将数字智能转化为物理功用、并最终定义其价值上限的终极执行器。 这场围绕 "指尖革命"的博弈，已催生出繁荣的国内产业生态，涌现出 灵心巧手、强脑科技、傲意科技、因克斯、戴盟机器人、帕 西尼、灵巧智能、月泉仿生、源升智能、雷赛智能、舞肌科技、果力智能 等一批核心 企业 。 数据来源：公开资料信源，创业邦研究中心整理 在机器人 各 形态与尺寸同步发展的当下，对灵巧手的需求 将 呈现出前所未有的多样化，而这些玩家正是在 "性能-成本-可靠性" 的三角关系中， 围绕几种不同的技术路径展开探索，以精准适配不同的市场需求： 腱绳驱动（ Tend ...

Core Insights - The focus of the capital and industry sectors is shifting towards embodied intelligence and dexterous manipulation, with dexterous hands being crucial for practical applications of humanoid robots [1] - The transition from prototype to mass delivery is a significant milestone indicating the maturity of robotic hardware products [1] Group 1: Market Demand and Orders - Xynova has secured over 10,000 orders for high-freedom dexterous hands from leading industry clients, showcasing market confidence in their product reliability and delivery capabilities [3] - The complexity of high-freedom dexterous hands, which involves precision transmission and multi-sensor integration, highlights the technological advancements made by Xynova [3] Group 2: Production Capacity and Strategy - Xynova is establishing a production line with an annual capacity of 200,000 micro electric cylinders and thousands of dexterous hands, indicating a strong commitment to scalable manufacturing [5] - The production line, covering over 5,000 square meters, is expected to commence operations in the second quarter of 2026, marking a significant step towards mass production [5] Group 3: Long-term Vision and Engineering Capabilities - The production capacity planning reflects Xynova's long-term confidence in the growth of the humanoid robot industry, aiming to secure supply chain advantages [6] - By building its own production line, Xynova gains control over manufacturing processes, production yield, and cost management, creating a competitive edge in the robotics hardware sector [6] Group 4: Industry Positioning - Xynova is transitioning from a component supplier to a global leader in embodied intelligence operations, driven by market insights, self-research capabilities, and scalable manufacturing [8] - The ability to achieve both full-stack self-research and scalable production is rare in the early stages of the embodied intelligence industry, positioning Xynova as a valuable partner for humanoid robot manufacturers [8] Group 5: Future Outlook - Despite rapid advancements, the industry is still evolving, and the durability and adaptability of hardware products will require long-term testing in real-world scenarios [10] - Xynova has established a favorable starting position in the embodied intelligence race, validating demand through orders and reinforcing delivery capabilities through production line development [10]

Core Insights - The article discusses the significance of the 2025 World Internet Conference in Wuzhen, highlighting the focus on embodied intelligence and robotics, particularly the insights shared by the industry leader, Lingqiao Intelligent [2]. Group 1: Company Overview - Lingqiao Intelligent is a leading company in the field of dexterous manipulation, aiming to enhance the development of humanoid and industrial robots through advanced technology and a strong research team [7]. - The company has launched three models of dexterous hands within the past 1.5 years, showcasing high flexibility and industrial-grade reliability, with prices starting below 10,000 yuan [8]. Group 2: Product Development - The DexHand021 series includes various models designed for different applications, with the Pro version featuring 16 active joints and advanced tactile feedback capabilities [8]. - Lingqiao Intelligent has developed cost-effective composite robotic platforms that integrate dexterous hands, enabling a wide range of tasks such as inspection, logistics sorting, and service [13]. Group 3: Data Challenges - The article emphasizes that the lack of high-quality, large-scale data is a significant bottleneck for the practical application of embodied intelligence [16][26]. - Lingqiao Intelligent has introduced DexCanvas, an open-source dataset aimed at addressing the scarcity of dexterous operation data, which includes comprehensive multi-finger force and contact annotations [20]. Group 4: Data Collection Systems - The company has developed the DexCap data collection system, which offers high accuracy and efficiency for gathering dexterous operation data [23]. - The integration of DexCanvas and DexCap is expected to facilitate the deployment of dexterous manipulation technologies across various industries [27]. Group 5: Industry Outlook - The article concludes that the successful implementation of embodied intelligence relies on continuous iteration and optimization of both hardware and data collection processes [31]. - The theme of the World Internet Conference emphasizes the importance of collaboration among industry partners to achieve sustainable development in the field of embodied intelligence [32].

Core Viewpoint - Sichuan Changhong (600839.SH) is accelerating its layout in key technologies such as agile operation and emotional companionship, targeting industrial manufacturing and home service scenarios to address core bottlenecks in the robotics industry [1] Group 1: Business Development - The company is focusing on creating a product matrix that leads in segmented scenarios and adds value for customers [1] - The robotics business is currently in the early research stage, with a very small proportion of overall operations [1] - The company emphasizes the need for investors to be aware of related risks as it develops its robotics business [1] Group 2: Industry Focus - The company aims to enhance the growth speed of its robotics business by aligning with industrial collaboration needs [1] - Key technologies being developed are intended to solve practical issues in the deployment of robotics in various scenarios [1]

在灵巧机器人领域，一项重大突破正在改变机器人如何学习复杂的手部操作技能。来自斯坦福大学、哥伦比亚大 学、摩根大通 AI 研究院、卡内基梅隆大学和英伟达的研究团队，由 Mengda Xu 、 Han Zhang 、 Yifan Hou 、 Zhenjia Xu 、 Linxi Fan 、 Manuela Veloso 和 Shuran Song 共同合作，于 2025 年 5 月发表了题为《 DexUMI: Using Human Hand as the Universal Manipulation Interface for Dexterous Manipulation 》的研究 论文。这项研究提出了一个创新框架，允许机器人直接从人类手部动作中学习复杂的灵巧操作技能。 人类的手部展现出令人惊叹的灵巧特质，能够胜任各式各样复杂精细的任务。然而，将人类手部的这些技能迁移 至机器人身上，却始终面临着巨大的挑战。究其原因，主要是人类的手与机器人的手之间存在着显著的 " 身体差 异鸿沟 " 。研究团队由此提出了一个核心问题：究竟该如何最大程度地缩小这种 " 身体差异鸿沟 " ，让人类的手 部能够成为各类不同机器人手的通 ...

Core Viewpoint - The article emphasizes the significance of dexterous hands in humanoid robots, highlighting their role as the "last centimeter" that enables robots to adapt to various environments and perform tasks similar to humans. The dexterous hand industry is still in its infancy, facing numerous technical challenges and high costs, which hinder rapid market development [1]. Company Overview - Zhejiang Dexterous Intelligent Technology Co., Ltd. (referred to as "Dexterous Intelligent") was established in 2024 and quickly gained attention in the industry. Within 10 months, the company launched the DexHand021 concept model and subsequently the mass production version, marking a significant transition from concept to commercialization [2]. - The founding team of Dexterous Intelligent consists of experienced entrepreneurs with 15-20 years of expertise in their respective fields, fostering a strong and efficient decision-making core [2][3]. Founders and Team - Dr. Xu Chunshan, the founder and chairman, is a seasoned expert in robotics, having previously co-founded a successful robotics company that went public within four years. He identified the bottleneck in the industry related to dexterous hands and operations, leading to the establishment of Dexterous Intelligent [3]. - Dr. Zhou Chen, the co-founder and CEO, has a strong research background and experience in corporate mergers and acquisitions. He returned to the robotics field to co-found Dexterous Intelligent [4]. - Dr. Zhu Haohua, the co-founder and CTO, has extensive experience in high-difficulty industrial product development and has integrated a core technology team into Dexterous Intelligent [6]. Technological Breakthroughs - Dexterous Intelligent has made significant advancements in two core technologies: transmission and perception. The company has innovatively adopted rope-driven technology, mimicking human muscle-tendon dynamics, which offers advantages such as reduced energy consumption and compact structure [8][9]. - The company utilizes capacitive sensors at the fingertips of its dexterous hands, enhancing the ability to perceive object positions and adjust grip strength accordingly, improving operational stability [11]. Product Offerings - The mass-produced DexHand021 is priced under 100,000 yuan, providing a competitive edge compared to international counterparts. The company aims to reduce prices further as production scales, with a target price of 10,000 yuan upon reaching sales of 10,000 units [13][17]. - Dexterous Intelligent's product lineup includes the DexHand021, a three-finger version for specific applications, and a high-end version for research institutions and large enterprises, showcasing the company's technological capabilities [14]. Industry Development Initiatives - Dexterous Intelligent has taken the initiative to establish a dexterous hand industry alliance to promote healthy industry development and facilitate technology exchange. This alliance aims to accelerate the commercialization of dexterous hand technology across various sectors [19].