随着具身智能与人形机器人从"能动起来"走向"能稳定交付"，产业关注的焦点正从算法与结构，延伸至那些 关乎可靠性的工程细节。 在CES、WRC等展会上，特斯拉、波士顿动力、宇树科技、智元机器人等旗下的人形机器人的后空翻表演、 精准抓取等示范总能吸引全球的目光。 当然，在这些令人惊叹的动作背后，一个更为深刻且日益迫近的工程命题正在浮现：机器人能否在真实、复 杂、长期运行的工况中，依然保持如演示般稳定、可靠且一致的性能？ 行业的共识逐渐清晰：决定机器人走向真实工况、成为其量产交付拦路虎的，往往是那些藏在关节内部 的"隐形短板"。 其中，关节内部的旋转互连，正是这样一个隐秘而关键的核心挑战。 旋转之困 01. 在人形机器人的典型架构中，颈部、腰部、手腕、髋关节，以及两侧上肢等位置存在多个天然的"旋转互连 节点"。 这些节点既是机器人完成灵活运动的关键，也是数据传输与供电的"咽喉要道"。 然而，每一个关节在实现自由度旋转的同时，也面临着一项艰巨的工程任务：在空间被严格约束的情况下， 却必须将实时通信链路和供电一起可靠地穿过旋转界面，送达至关节内的电机、编码器、控制器与各类传感 器。 传统方案在此遭遇瓶颈： 互连一旦不稳 ...

机器手手设计的天花板被捅破了！ 机器人领域迎来了一次颠覆性创新。可拆卸、可爬行、可双向抓取的机械手，首次真正实现了抓取与自主移 动的无缝融合。以后机器人捡东西，再也不用"伸手够"了，它能自己"爬过去拿"！ 传统机器手，到底被什么限制了？ 01. 人类的手被誉为灵巧的巅峰，但它有两个致命短板： 一是不对称设计。 依赖一个大拇指，另一边却无能为力。想单手拧瓶盖？难。想对称抓握螺丝刀？更难。 二是固定在手臂末端。 够不到的地方，就是够不到。东西掉进沙发底、滚到架子后？只能干瞪眼。 绝大多数仿人机械手也继承了这些限制。它们像高级工具，却无法自主移动、多对象抓取、快速切换形态。 但就在最近，一项发表在《Nature Communications》的研究，用一只"不像人手的机械手"，打破了所有规 则。 | Received: 5 April 2025 | Xiao Gao @ Kunpeng Yao2, Kai Junge 0 , Josie Hughes & Aude Billard 01 8 | | --- | --- | | Accepted: 4 December 2025 | | | Published onl ...

广东省科技厅副厅长杨军表示，"十四五"时期，广东高新技术企业由5.3万家增加至7.7万家，新增科创 板、创业板上市公司189家，首发募集资金1978亿元，市值突破19万亿元，居全国第一位。 2025年广东工业机器人、服务机器人产量均居全国第一 中新社广州2月6日电 (记者 张璐)记者6日从广东省人民政府新闻办公室举行的"'十四五'广东成就"系列 主题新闻发布会上获悉，2025年，广东地区生产总值14.58万亿元(人民币，下同)，人工智能核心产业规 模预计达3000亿元，工业机器人、服务机器人产量均居全国第一。 广东省工业和信息化厅副厅长吴红介绍，2025年，广东工业机器人、服务机器人产量分别为33.63万 台、1518.21万台，占全国的比重分别为43.5%、81.7%，工业机器人产量连续六年全国第一。广东机器 人产业以"产品+服务+生态"的模式，稳步拓展国际市场，部分细分领域全球领先。(完) 来源：中国新闻网 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财 ...

[Table_Summary] 公司发布 2025 年业绩预增公告：公司预计 2025 年全年实现归母净利润 17.00~18.00 亿元， 较上年同期增加 8.94~9.94 亿元，同比增长 110.90%~123.30%，预计实现扣非归母净利润 16.00~17.00 亿元，较上年同期增加 8.84~9.84 亿元，同比增长 123.40%~137.36%。对应单 Q4 来看，公司实现归母净利润 2.82~3.82 亿元，同比增长 47.62%~99.96%，实现扣非归母净 利润 3.16~4.16 亿元，同比增长 70.18%~124.12%。 分析师及联系人 [Table_Author] 陈亮 SAC：S0490517070017 SFC：BUW408 请阅读最后评级说明和重要声明 %% %% 丨证券研究报告丨 [Table_scodeMsg1] 公司研究丨点评报告丨科沃斯（603486.SH） [Table_Title] 科沃斯：Q4 内销或有拖累，品类延展有望攫取 增量 报告要点 %% %% research.95579.com 1 [Table_scodeMsg2] 科沃斯（603486.SH） ...

Core Insights - Shenzhen has officially surpassed 600 listed companies with the recent IPOs of Zhuozheng Medical and Dazhu CNC on February 6, marking a significant milestone in the city's financial landscape [1] Group 1: Market Performance - Zhuozheng Medical's stock closed at 80.8 HKD per share, up 34.89%, while Dazhu CNC's stock closed at 113 HKD per share, up 17.95% on their first trading day [1] - The total market capitalization of Shenzhen's listed companies exceeds 19 trillion CNY, with domestic companies accounting for 12.59 trillion CNY, maintaining the second position among major cities in China [3] Group 2: Company Growth and Innovation - The emergence of star enterprises has driven the growth and quality of Shenzhen's listed companies, with notable examples including Beixin Life, Dapu Micro, and Huike Co., which have achieved significant milestones in their respective sectors [3] - Shenzhen's listed companies reported a cumulative operating revenue of 5.2 trillion CNY and a net profit of 457.8 billion CNY for the first three quarters of 2025, reflecting year-on-year growth of 7.36% and 3.98% respectively, with manufacturing contributing 99.87% to revenue [3] Group 3: Technological Advancements - Approximately 80% of newly listed companies in Shenzhen are from the Sci-Tech Innovation Board and the Growth Enterprise Market, indicating a strong focus on hard technology [5] - Shenzhen's strategic emerging industries have a research and development intensity of 7%, with BYD leading with over 54 billion CNY in R&D investment, and a significant number of companies exceeding 10% in R&D intensity [5] Group 4: Industry Expansion - Shenzhen has seen a continuous expansion of its overseas listing landscape, with 38 new companies listed abroad in the past three years, raising a total of 29.57 billion HKD in initial public offerings [3] - The city is actively promoting the development of frontier industries, with companies like UBTECH and Huichuan Technology making strides in robotics and automation, contributing to the transformation of traditional manufacturing into smart production [6]

Market Overview - The A-share market has experienced a strong upward trend in January, frequently reaching new highs, with significant investor participation and enthusiasm [1][14] - As the market approaches the 4100-point threshold, it has entered a phase of high-level fluctuations, with signs of adjustment in certain sectors and intensified competition between bulls and bears [1][14] Economic Outlook for 2026 - The macroeconomic environment is expected to maintain a recovery trend, with gradual improvement in corporate earnings and continued ample liquidity [3][16] - The domestic and international technology sectors are expected to resonate, with emerging industries showing rapid growth and China's manufacturing competitiveness expanding [3][16] - Long-term market support is anticipated from the execution of the "14th Five-Year Plan," the advancement of RMB internationalization, and policies encouraging long-term capital inflows [3][16] Sector Focus - **Technology Manufacturing**: Continued optimism, shifting focus from upstream to downstream AI applications, particularly in smart driving, robotics, AI wearables, and AI healthcare [5][18] - **Lithium Battery Storage**: Short-term performance affected by surging upstream material prices, but long-term prospects remain strong due to China's manufacturing advantages [5][18] - **Automotive Sector**: Significant changes expected in 2026, with a stark divide; companies closely related to AI and smart technologies are likely to perform well, while those lagging in smartization may face challenges [5][18] Consumer Sector Insights - 2026 is projected to be a pivotal year for the consumer sector, driven by anticipated increases in household income, moderate price recoveries, and historically low valuations and market capitalizations [10][23] - "Old consumption" is expected to transition from defense to offense, with improved competitive dynamics and returns for leading companies [10][23] - "New consumption" emphasizes selective investment in companies with strong competitive positions amid a challenging competitive landscape [10][23] Pharmaceutical Sector Analysis - The innovative drug sector is expected to present opportunities, driven by unique market positioning and significant growth potential [11][24] - The emergence of new categories such as brain-computer interfaces and medical AI is noted, indicating a shift towards meeting previously unmet needs in the market [11][24] Investment Themes - The core investment logic for 2026 is centered around "AI + hard capabilities," encompassing sectors such as smart driving, consumer electronics, robotics, industrial processes, communication, energy management, and commercial aviation [8][21] - AI applications are anticipated to enhance efficiency and reduce costs across various industries, including manufacturing and communication [8][22] Hong Kong Market Perspective - Despite some valuation recovery in 2025, the Hong Kong market remains undervalued compared to major global markets, with expectations for rapid earnings recovery based on low baselines [12][25] - The downward trend in ERP is anticipated to continue, influenced by industry structure, investor dynamics, and RMB internationalization [12][25]

Core Insights - Haier Group achieved record performance in 2025 with global revenue of 426.8 billion yuan, a growth of 6.3%, and total profit of 32.2 billion yuan, a growth of 6.7% [1][3] - The company aims to enhance its ecological competitiveness and innovation potential by focusing on ecological collaboration, user connection, and global depth in 2026 [1][9] Financial Performance - In 2025, Haier's global revenue reached 426.8 billion yuan, marking a 6.3% increase [1][3] - The total profit for the same year was 32.2 billion yuan, reflecting a 6.7% growth [1][3] Brand and Market Position - Haier has maintained its position as the global leader in large home appliance sales for 17 consecutive years [3] - The company has been recognized as the only IoT ecological brand in the "Kantar BrandZ Top 100 Most Valuable Global Brands" for seven years [3] Marketing and Brand Strategy - In 2025, Haier increased its investment in sports marketing, partnering with major international events and teams [4] - The company has developed an ecological IP matrix to enhance brand communication and user experience [4] Technological Innovation - 2025 is marked as the year of AI application for Haier, with a focus on creating an AI-native organization [4][10] - The company introduced "AI Eye" for smart home solutions and various AI-driven products to enhance operational efficiency [4][11] Global Expansion and Supply Chain - Haier has optimized its global layout, establishing seven new factories and planning six more, totaling 35 industrial parks and 173 factories worldwide [5] - The company aims to enhance supply chain resilience and competitiveness through digital and green initiatives [5] Ecosystem Development - Haier is deepening its strategic layout by acquiring companies and forming partnerships to strengthen its industrial ecosystem [5][8] - The company is focusing on six major industrial ecosystems, including smart home, health, digital economy, robotics, new energy, and automotive [6][7][8] ESG and Social Responsibility - Haier is committed to ESG practices, implementing a 6-Green strategy and establishing numerous green factories [6] - The company has contributed to social responsibility initiatives, including building 406 Hope Schools [6] Management Innovation - The "RenDanHeYi" model has become a global management standard, enabling sustainable growth and demonstrating its value [6][12] - Haier plans to implement an "ecological governance" model to enhance management efficiency and team autonomy [12] Future Strategy - The company aims to transition from a global presence to a locally integrated ecological model, focusing on deepening supply chain and market capabilities [10] - Haier plans to invest over 100 billion yuan in R&D over the next five years, emphasizing AI, chips, and IoT security [12]

21世纪经济报道记者 吴佳楠 深圳报道 "上午还在长三角见客户，下午已飞往北京洽谈合作。"这是协创数据（300857）董事长耿康铭近期的工 作常态。 在他身后，这家2005年成立于深圳，如今市值超七百亿的企业，正以大规模的投资，将战略重心转向一 场席卷全球的算力浪潮与具身智能的未来之战。 2025年，协创数据（300857.SZ）接连发布五次采购公告，累计拟用于采购高算力服务器的额度达212亿 元。 然而，从经营情况看，截至2025年三季度末，公司实现营业收入83.31亿元，净利润6.98亿元，资产负债 率高达78.33%。 年内服务器采购高达212亿元，这似乎是一场小马拉大车的资本豪赌。与此同时，协创数据也铺开融资 大网，在2025年一年内三度提升授信额度，总额已达280亿元。 面对在外界看来"激进"决策的不解，这位在行业摸爬滚打30多年的业内老兵却显得十分冷静与克制，又 透露出在时代风口前的果敢。 "这笔投入其实非常保守，客户的需求远远大于我们的投入。"在接受21世纪经济报道记者专访时，耿康 铭将当下算力产业发展比作"房地产的90年代"，认为未来五到十年，算力领域的投资规模将超越房地产 巅峰时期，而协创数 ...

惠州将发力人工智能与机器人产业，发挥智能终端、智能网联汽车、服务机器人、AI服务器核心零部 件等领域制造优势，加速布局具身机器人、功能型无人车以及低空经济等产业。深入实施"人工智能 +制造"专项行动，瞄准智能制造应用场景，加快建设具身智能训练场，打造具身数据可信空间促进数 据合规流动，推动具身模型和行业模型的研发与应用，打造一批行业标杆工厂。深入实施"人工智能赋 能千行百业"工程，拓展人工智能全市全时全行业应用，打造一批"AI+"应用示范场景。 惠州还将充分利用深圳的创新资源、莞惠两地强大的生产制造能力和丰富的应用市场，推动在珠江口东 岸形成具有国际影响力的人工智能和机器人产业带。 此外，今年是惠州的"招商引资年"，惠州将打响招商引资攻坚战，确保全年招商引资落地项目投资额 1600亿元以上。 "十五五"时期，惠州将锚定打造广东高质量发展新增长极的使命任务，坚持产城并举、城乡并重、陆海 并进，奋力打造"万亿GDP、千万级人口"城市。"十五五"时期惠州经济社会发展的主要目标：地区生产 总值年均增长6%以上。2026年惠州地区生产总值预期增长5.5%—6%。 惠州将坚持实体经济为本、制造业当家，构建更具竞争力的现代 ...

（文章来源：中国经营报） 近日，工业具身智能焊接领域企业仁新焊机机器人（成都）股份有限公司宣布完成千万级A+轮融资。 本轮融资由山东鲁花投资有限公司领投，国金创新投资有限公司跟投。继2025年第二季度完成深创投A 轮融资后，该公司再次完成新一轮融资。 记者了解到，仁新机器人以全栈自研的"手—眼—足—脑"协同技术体系为核心，构建覆盖感知、决策与 执行的工业具身智能焊接解决方案。公司自主研发的仁新AI焊割系统，实现了"见缝就焊、边走边焊"核 心功能，能够适配非标准、小批量、多品种的复杂工业焊接场景。 公司方面介绍，本轮A+轮融资完成后，将与A轮资金形成协同，重点聚焦三大方向持续投入：一是进 一步深化工业具身智能核心算法与大模型研发应用，提升系统在复杂工况下的自主感知与决策能力；二 是加快工业具身智能产品与行业解决方案在船舶制造等核心场景的规模化落地；三是完善全球供应链与 本地化服务体系建设，稳步推进海外重点市场布局。与此同时，仁新机器人与国金证券达成深度合作， 双方将在资本运作优化、产业资源对接及全球化业务拓展等方面形成长效协同，为公司冲刺行业"链主 企业"注入强劲动力。 仁新机器人CEO胡豪杰表示，公司将持续推 ...