10 月 16 日上午 ， 港交所交易大厅内响起清脆的敲钟声。 云迹科技创始人支涛与核心团队并肩而立，身后的屏幕上， " 2670.HK "的股票代码伴随 49.37% 的开盘涨幅格外醒目——股价直接跃升至 142.8 港元，对应市值达 98.13 亿港元。 图源云迹科技官网 这一幕标志着中国服务机器人行业迎来新的里程碑，也为这家 "烧钱十年"的科技公司画上了阶段性 句点。 从 2014 年支涛团队拿着科大讯飞背书的天使轮融资起步，再到 2025 年登陆港股，云迹科技的上 市之路堪称中国商用服务机器人行业的发展缩影。 01 8 轮融资 12 亿，明星资本云集 云迹科技的资本故事始于 2014 年。 成立伊始，支涛团队就拿到了安徽人工智能公司与洋葱基金的天使轮投资，安徽人工智能公司背后站 着科大讯飞。 这家 AI 巨头的早期背书，给云迹科技的技术可信度打下了基础。 2015 年，科大讯飞选择继续加注，帮云迹完成了 A 轮融资。 这一轮投资进一步强化了云迹在服务 机器人领域的技术基因。 2017 年是云迹融资的第一个小高峰。 这一年， 公司先拿下海航创投、澜亭资本的 A+ 轮投资，紧接着腾讯投资也来了。 数千万美 ...

Core Viewpoint - Concerns about a potential bubble in the artificial intelligence (AI) sector are rising, with a significant number of global fund managers believing AI stocks are in bubble territory according to Bank of America's October survey [1] Group 1: Market Sentiment and Performance - U.S. stocks have reached multiple records this year, driven by enthusiasm around AI spending and productivity gains, with the Nasdaq 100 trading at a forward price-to-earnings ratio significantly above the decade average [2] - Goldman Sachs strategists argue that fears of a tech bubble may be premature, attributing the current rally to strong earnings rather than speculation [3] - Francesco Sandrini from Amundi acknowledges irrational excitement in AI investments but believes there are still opportunities for returns through selective, reasonably valued bets [4] Group 2: Investment Strategies and Insights - Some investors are considering reducing exposure to major tech stocks after Nvidia's significant rally while maintaining diversified investments in the broader AI ecosystem [5] - Research indicates that hedge funds did not short the dot-com bubble but instead rotated between tech industries, outperforming the market by approximately 4.5% per quarter from 1998 to 2000 [6] Group 3: Areas for Investment - Amundi's Sandrini identifies software firms, robotics, and Asian tech stocks as high-growth opportunities that the market has yet to fully recognize [7] - The SPDR S&P Software & Services ETF (XSW) is highlighted for its strong buy rating, benefiting from the subscription-based demand for AI software, which is expected to remain robust [8] - The Invesco China Technology ETF (CQQQ) is noted for its potential growth due to China's heavy investment in AI and tech, with expectations of monetary policy easing that could benefit high-growth tech stocks [9]

Core Insights - Micropolis Holding Co. completed its Initial Public Offering (IPO) at $4.00 per share, raising $15.5 million in gross proceeds, and began trading on NYSE American under the ticker symbol "MCRP" on March 7, 2025 [1][8] - The company has established several strategic partnerships and agreements to enhance its robotics and AI capabilities, including collaborations with SEE Holdings for Sustainable City 2.0 and Hader Security and Communication Systems [3][8] - Micropolis showcased its next-generation robotics portfolio at various industry events, including the Airport Show 2025 and GITEX GLOBAL 2025, highlighting its innovations in autonomous vehicles and AI-driven security solutions [3][8] Financial Highlights - As of June 30, 2025, Micropolis had approximately $4.2 million in cash and cash equivalents, with around 32.1 million basic and diluted weighted average number of ordinary shares outstanding [5] - The company entered into a securities purchase agreement for $5 million with an institutional investor after the reporting period [5] Business Developments - The company launched the final phase of its autonomous police patrol pilot in collaboration with Dubai Expo City, Dubai Police, and Transguard Group, focusing on real-world testing of its M2 platform [3][8] - Micropolis signed an exclusive distribution agreement with AERXIO for expansion into Egypt and North Africa, aiming to address security challenges in high-growth regional markets [3][8] - An agreement was signed with Helsingborgs Hamn AB and MCS Robotics to develop and test the 'Box Cleaner' robot for port and industrial environments [2][8] Strategic Partnerships - Micropolis established a strategic partnership with Hader Security and Communication Systems to integrate AI and robotics technologies with advanced communications capabilities [3][8] - The company signed a Memorandum of Understanding (MOU) with Emirates Steel (EMSTEEL) to further its robotics initiatives [1][3][8] Industry Engagement - Micropolis showcased its advanced border control robotic platforms at the Airport Show 2025, presenting specialized autonomous vehicles to the UAE National Guard [3][8] - The company demonstrated its leadership in environmental solutions with the Robotic Forestry Unit at ADNOC Safety Day 2025 [3][8]

来源：市场资讯 自2022年以来，ServeRobotics在洛杉矶市场实现了超过5万次的配送服务，且配送完成率高达99.94%。 ServeRobotics与行业头部企业保持深度合作，业务规模持续扩大。目前，该公司已为UberEats、7- Eleven等合作伙伴完成了数万次配送。该公司计划在UberEats平台上在美国多个市场部署多达2000台配 送机器人。上个月，ServeRobotics表示将与UberEats合作，把服务扩展到芝加哥。 技术实力是ServeRobotics立足行业的核心竞争力，其主打的零排放机器人可在公共场所灵活执行送餐等 任务，精准契合外卖平台对"最后一公里"无人化配送的需求。为进一步巩固技术优势，该公司近期频繁 通过收购补全技术短板，构建更完善的技术体系。 近期，ServeRobotics收购VayuRobotics——这家企业擅长利用大规模AI模型实现城市场景下的机器人部 署。收购后，ServeRobotics计划将自身的自主技术栈、真实人行道数据集，与Vayu的AI基础模型能力、 可扩展模拟驱动数据引擎深度融合，全面提升机器人在复杂城市环境中的适应能力。 （来源：维科网机器人 ...

Core Points - The article announces the 2025 China Intelligent Robotics New Star Award, aimed at recognizing outstanding young talents in the field of intelligent robotics and related areas [2][4] - The award will be held concurrently with the 2025 China Intelligent Robotics Conference, providing a platform for nominees to showcase their work and engage with experts [2][5] Registration and Fees - Registration categories and fees are outlined: - Student participation: 1500 RMB - General participation: 2800 RMB - Corporate representatives: 3800 RMB - Payment details include bank account information and a deadline for registration by November 2, 2025 [1] Award Highlights - The award seeks candidates under 45 years old engaged in research, development, or application in intelligent robotics [2] - Key benefits for nominees include recognition by a panel led by academicians, opportunities for dialogue with experts, and a chance to present at a prestigious event [2][4] Evaluation Process - The evaluation process consists of several steps: 1. Online application submission until November 11, 2025 2. Initial screening of applications by the organizing committee 3. Invitation for successful candidates to present at the conference 4. Final evaluation by a committee of academicians 5. Award ceremony during the conference [5][6] Contact Information - For inquiries regarding the award and registration, contact details are provided, including an email address and the official conference website [6]

| ZETI | 中关村机器人产业创新中心 ENOVOGELENCEN REGIOTIES INDUSTRY INNUMATION CENTER | | 100 ● 机器人大讲堂 | | --- | --- | --- | --- | | | | | 46 | | 前 | 35 | 洞 | 大 ж | 在实现形变、行走、抓取等核心功能时，传统软体机器人往往依赖连续驱动与复杂控制系统，这使得其在能效 与灵活性之间难以实现有效平衡。自然界中的多稳态结构例如捕蝇草的快速闭合机制、折纸结构的多形态转换 特性 ， 为设计高适应性机器人提供了关键灵感：这类结构可在不同稳定形态间快速切换，展现出极强的环境 适应能力。 然而，当前多数人工多稳态结构仍受限于可重构性不足的问题，通常仅能在两至三种预设形态间实现转换。若 需实现更丰富的形态变化，往往需将多个单元组合，而这不可避免地增加了设计与驱动的复杂性，进而限制了 其在复杂场景中的实际应用。 据探索前沿科技边界，传递前沿科技成果的 X-robot投稿 。 为应对上述挑战 ，美国北卡罗来纳州立大学的 研究团队近日提出一种 基于可展曲面的多稳态薄壳 元 结构 。该结构可在无需外部锁 ...

2025 年，具身智能领域已经进入排位赛，头部企业正抓紧争夺更大的市场机遇。 从企业最新进展来看，落地成为 2025 年下半年以来的具身智能行业发展主旋律。但在激烈的市场竞争中，下 游应用企业挑选出真正有实力头部玩家的难度正在提升。 ▍ 人形机器人排位赛开始 企业增多迷人眼是原因之一。企查查数据显示，国内现存人形机器人相关企业 1058 家，其中 2024 年全年注 册 117 家相关企业，同比增长 64.79% 。截至 10 月 10 日，今年已注册 205 家相关企业，远超去年全年注 册水平，其中前 9 月注册 203 家，同比增长 138.82% 。从注册资本来看，人形机器人相关企业多为资金密 集型企业，注册资本千万级及以上的企业占比过半，其中注册资本在 5000 万元及以上的相关企业最多，占比 30.43% 。 企业持续增多的原因在于， 业内普遍认为人形机器人有望形成比新能源汽车更为庞大的产业规模。据国际机 器人协会预测， 2021 年到 2030 年，全球人形机器人市场规模年复合增长率将高达 71% 。中国电子学会预 测，到 2030 年，我国的人形机器人市场规模有望达到约 8700 亿元。这也促使 ...

IPO动态 下周，10月27日，丰倍生物(603334)将在上交所主板进行申购；10月28日，德力佳(603092)将在上交所 主板进行申购。 港股 热点追踪 乐聚机器人已完成股改正推进IPO计划，刚完成15亿元融资 10月22日，乐聚机器人已完成股改，IPO计划推进中。 近日，乐聚机器人完成近15亿元Pre-IPO轮融资，参投机构包括深投控资本、深圳龙华资本、前海基础 投资等。乐聚机器人表示，本轮融资将用于强化核心技术研发、深化产业链布局、完善产业场景应用， 推动人形机器人迈向大规模量产与多元化场景应用。 A股 本周，A股上会公司共有三家。 新股上市： 新股申购： 本周共有俩只新股进行申购。 天眼查显示，今年9月，乐聚机器人发生市场主体类型变更，从有限责任公司变更为股份有限公司（非 上市、自然人投资或控股），公司名称也从"乐聚（深圳）机器人技术有限公司"变更为"乐聚智能（深 圳）股份有限公司"。 资料显示，乐聚机器人成立于2016年，专注于人形机器人核心技术自主研发与产业化，目前已构建"大 脑-小脑-操作系统-本体"全栈技术体系，陆续推出AELOS（小型）、ROBAN（中型）、KUAVO（大 型）等机器人产 ...

Group 1 - The Robot ETF (562500) is experiencing a moderate rebound, with the latest price at 1.018 yuan, up 0.89% from the previous close, indicating stable market sentiment [1] - Among the 73 constituent stocks, 66 have risen while 7 have fallen, showing a general recovery in the sector, with leading stocks including Weichuang Electric, Jingpin Special Equipment, and Jingye Intelligent [1] - The overall market style is growth-oriented, with mechanical automation and intelligent manufacturing sectors leading the performance [1] Group 2 - Hangzhou Yushu Technology Co., Ltd. has recently been granted a patent for a robot joint control method and system based on motion capture technology, aimed at improving human-robot collaboration and natural interaction [2] - The patent addresses the limitations of existing robot joint control solutions, enhancing the flexibility of robots to better express the operator's intentions and handle complex operations [2] - Guotai Junan Securities notes that the humanoid robot industry is rapidly commercializing, emphasizing the need to focus on industry dynamics driven by events in the short term and quality companies in the long term [2] Group 3 - The Robot ETF (562500) is the only robot-themed ETF in the market with a scale exceeding 20 billion, covering various segments such as humanoid robots, industrial robots, and service robots, facilitating investors' access to the entire robot industry chain [3]

10月24日上午，杭州市人形机器人中试基地暨应用推广中心揭牌仪式在杭州市举行。作为政企共建、央 地协同的重要产业服务平台，该基地的启用标志着五八智能在人形机器人从技术研发到产业落地的关键 环节取得突破性进展。会议现场，五八智能与长源东谷等机器人产业链公司正式达成战略合作，与国新 基金等举行融资签约仪式。 ...