电子皮肤&3D视觉建议关注：【汉威科技】【福莱新材】【奥比中光】 东吴证券主要观点如下： 事件：人形机器人全面进军春晚，松延动力、宇树科技、魔法原子、银河通用四家机器人公司分别亮相 小品、武术、歌曲及微电影四大类节目 智通财经APP获悉，东吴证券发布研报称，机器人核心能力的长足进步是机器人春晚再度出圈的关键， 也是机器人能够真正从实验室走向工厂的关键。21-25年机器人产业链完成从0-1的发展，而展望26年特 斯拉&国内头部企业将同时开启大规模量产，开启1-10的新篇章。而在投资标的方面也会进一步收敛， 建议关注真正具备量产能力&进链的头部标的。 T链核心建议关注：①总成：【三花智控】【拓普集团】；②丝杠：【恒立液压】【浙江荣泰】【新坐 标】【五洲新春】；③谐波减速器：【绿的谐波】【斯菱智驱】 宇树链核心建议关注：【首程控股】【长盛轴承】【美湖股份】 银河通用链核心建议关注：【天奇股份】 机器人在空中的每一秒都需要精确计算，包括旋转速度、角度调整以及落地缓冲等环节。通过融合视觉 传感器、六维力传感器和惯性测量单元，机器人能在空中实时计算重心偏移量，以每秒上百次的频率调 整全身关节的角度，并保持良好的误差控制。 ...

Group 1: Robotics Showcase - The 2026 Spring Festival Gala featured a record number of AI elements, showcasing four major robotics companies: Songyan Power, Galaxy General, Yushu Technology, and Magic Atom, each presenting unique performances [2][3][16] - Songyan Power's robots interacted with real actors in a skit, enhancing their realism by increasing motor control frequency by six times and adding three degrees of freedom for more natural movements [4][19] - Yushu Technology demonstrated advanced martial arts capabilities, performing complex maneuvers alongside human martial artists, showcasing significant advancements in motion control technology [4][18] - Magic Atom adopted an idol theme, performing with popular artists and demonstrating multi-robot collaboration in industrial tasks, marking a first for the Spring Festival stage [4][18] - Galaxy General's robots performed practical tasks, emphasizing their utility in household chores, thus appealing to everyday applications [5][18] Group 2: AI Model Competition - The competition in AI models is characterized by a "two strong divide," with ByteDance and Alibaba dominating the landscape [7][21] - ByteDance's Volcano Engine served as the exclusive AI cloud partner for CCTV, achieving 19 billion AI interactions and a peak of 633 billion tokens during the gala, showcasing its capacity to handle massive user engagement [7][22] - Alibaba's Qianwen secured exclusive partnerships with multiple regional TV stations, embedding itself deeply in content creation and addressing complex visual challenges in performances [8][23] - The strategies of both companies reflect a shift from early adopters to mainstream users, indicating a critical point in AI application adoption [8][21] Group 3: Market Implications - Yushu Technology reported over 5,500 units sold after last year's gala, indicating strong market demand and signaling potential for higher IPO valuations [10][24] - Songyan Power's focus on interactive capabilities suggests a promising path for robots in domestic and service sectors, with pre-sales exceeding 1,000 units [10][24] - Galaxy General's emphasis on cognitive capabilities positions it as a leader in practical applications, while Magic Atom focuses on engineering and mass production capabilities [10][24] - The competition in the AI model sector is more concentrated, with ByteDance and Alibaba capturing most resources, while Tencent and Baidu's roles remain more defensive [10][25]

以下文章来源于凤凰网财经 ，作者凤凰网财经 凤凰网财经 . 你好，我们是凤凰网财经，全球华人都在看的财经公众号，传播最有价值的财经报道，你值得关注！欢 迎访问：http://finance.ifeng.com/ 作者： 凤凰网财经 来源： 凤凰网财经 -------------------------- 醉拳的意境，在于踉跄之间自有章法。而中国机器人产业的临界点，恰好在 2026年的除夕夜，悄 然到来。 当宇树科技的机器人在《武 BOT》节目中"摔倒"在地，随即又一个鲤鱼打挺站了起来，电视机前 的观众们议论纷纷，"是故意的，还是失误？" 对此，宇树 CEO王兴兴给出回应称， "剧情需要，打醉拳的时候有要倒不倒的状态，如果机器人倒 了以后再自己站起来，会非常帅，非常符合醉拳的意境"。 以往机器人上春晚，多是拼稳定性、拼队形变换，这次《武 BOT》却让技术去服务剧情和艺术表 达。这一摔，摔出中国机器人的技术底气，也摔出一个即将爆发的市场。 马年春晚开播两小时，京东机器人搜索量环比增长超 300%，客服问询量增长460%，订单量增长 150%。 新增订单覆盖全国100多座城市，从一线城市到大小县域均有分布。 01 ...

将投中网设为"星标⭐"，第一时间收获最新推送 "明星项目，闭眼入就对了。" 作者丨 陈美 编辑丨 王庆武 来源丨 投中网 岁末年底，当我与一级市场投资人见面时，他又向我聊到了行业一个比较热的话题：专项基金又杀回来了。据该位投资人透露，去年一家头部GP在专项 基金上就十分活跃。"不少项目背后都是专项基金在支棱，而非传统盲池基金的钱。" 实际上，自IPO回暖后，明星专项基金的市场水温就明显上升。而他最近也听到，有不少LP主动询问某头部明星项目，并明确表示只对这些"明星项 目"感兴趣。 "因为在这些LP们来看，相比盲池基金，明星项目更具有确定性，也是产业发展的方向，未来在退出路径上也更明确些。"该位投资人说道。 "明星项目，闭眼入就对了" IR人士也向我证实了专项基金的繁荣程度。一位IR人士感慨：在募资端，以前和高净值客户吃饭，吃了好几顿后都没动静；但现在不用约，主动就来联 系了。县域LP更是如此，只要募资时把话说得通俗一点，比如把"IRR、门槛、赎回"说成他们都能听得懂的"保本、利息、随取"。那么，他们单笔的出 资额从几百万到小几千万，都不罕见。 除了县域LP，地方政府、家族办公室和海外资本也是出资大头。特别是地 ...

目前机器人主要是在工厂里面应用，下一步可能就是走进商场、做商业服务机器人，最后会走进千家万 户、做家庭服务机器人，包括养老、陪伴、育儿，甚至情感机器人。机器人产业在2026年可能会逐步走 向商业化。对于中国机器人的发展，很多欧美国家并没有想到会发展这么快，所以这次春晚上机器人亮 相对于他们的冲击是非常大的，甚至他们认为这就是实力的展示。可想而知，人形机器人在未来的发展 中，可能会展现出中国优势。 我在去年年初就提出一个观点，就是机器人有望成为我国继家电、手机、新能源汽车之后第四大产业赛 道。我们有完整的产业链、比较低的制造成本。现在做这些机器人的公司，除了专业机器人企业之外， 主要还有一些汽车公司，它们本来就有比较好的销售渠道，有完整的4S店销售和售后服务体系，所以 未来无论在国产化还是在出口方面，都具有比较大的优势。这反映在二级市场上，节后二级市场上可能 会掀起对人形机器人板块的关注热度。 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！ 当下正处于马年的新春佳节。今年春节，大家对"春晚"上亮相的机器人以及AI等"黑科技"关注度特别 高，可能对节后相关板块会带来比较大的催化作用，特别 ...

Core Viewpoint - The article discusses the integration of AI technology and embodied intelligence into mainstream culture during the 2026 New Year's Eve, highlighting the need for technology companies to maintain engagement beyond initial exposure during the Spring Festival Gala [1][4]. Group 1: AI and Embodied Intelligence Engagement - The Spring Festival Gala served as a peak moment for AI and robotics, but companies are anxious about sustaining interest beyond the event [4][5]. - Following the gala, tech companies are actively seeking to extend discussions and maintain engagement through online platforms, particularly Bilibili [6][7]. - Bilibili is emerging as a key platform for AI and robotics discussions, capitalizing on the momentum generated during the Spring Festival [8][30]. Group 2: Bilibili's Role in AI and Robotics - Bilibili's collaboration with the Spring Festival Gala has deepened, with the platform becoming the exclusive bullet screen video platform for the event [33]. - The platform has a unique ecosystem that fosters discussions around AI and robotics, making it a prime location for brands to engage with a tech-savvy audience [37][39]. - Data indicates that Bilibili has a high concentration of users interested in AI, with nearly 100,000 active creators related to AI content each month [38][39]. Group 3: User Engagement and Content Creation - The introduction of "interest rooms" on Bilibili allows for more targeted engagement, facilitating a smoother transition from awareness to deeper understanding of AI and robotics [62][63]. - Users are encouraged to interact with content, leading to a more engaged community that discusses, creates, and shares AI-related content [60][64]. - The active bullet screen culture on Bilibili enhances the information density of tech discussions, making it a unique platform for real-time feedback and interaction [52]. Group 4: Long-term Strategy for Brands - Companies like Songyan Power, Yuanbao, and Yushu Technology are not just marketing for the Spring Festival but are strategically positioning themselves for long-term brand recognition and user engagement [69][70]. - The article emphasizes the importance of finding the right community to sustain interest and deepen user understanding of AI and robotics post-exposure [70][71]. - The future of human-machine coexistence will depend on who can effectively engage the most receptive and innovative audience [68].

春晚节目《我最难忘的今宵》中，银河通用机器人盖博特亮相。图片来源：央视新闻 可别小看这些看似"日常"的动作。对机器人而言，这恰是极高难度的实时自主作业。银河通用团队负责人王鹤介绍，"盖博特"的核心能力，来自自研的具身 大模型"银河星脑"，它能适配复杂环境、响应自然语言指令完成动态操作，其指尖的每一个动作，都不是预先设定好的程序，而是基于现场环境的实时决策 结果。 "盖博特"展示盘核桃绝活。图片来源：央视新闻 节目的呈现令人会心一笑。而这个充满"烟火气"的机器人形象，也随着春晚走进大众视野，成为中国人形机器人技术突破、产业加速升级的生动缩影。不只 有"盖博特"，本届春晚堪称历年"机器人含量"最高的一届，从舞台表演的多机编队协同，到贺岁内容的生活化场景应用，多款国产人形机器人集中亮相，有 网友评价："中国机器人进化像开了倍速。" 工信部数据显示，2025年，国内人形机器人整机企业数量已超140家，发布产品超330款。中国信通院报告显示，具身智能领域全年融资总额超735亿元，同 比增速稳居人工智能细分赛道前列，成为2025年最火热的投资赛道之一。 今年春晚，机器人可谓抢足了风头。 在沈腾、马丽主演的贺岁微电影《我最 ...

Group 1 - Traditional New Year goods growth has slowed to 8%, while "emotional New Year goods" have surged by 35% [1] - Young consumers are increasingly opting for emotional and experiential products over traditional gifts like alcohol and red gift boxes [2] - The electronic pet market is seeing a significant rise in interest, with search volumes on e-commerce platforms skyrocketing [2] Group 2 - 58.7% of electronic pet buyers are aged 25 to 35, with a significant female demographic [3] - Electronic pets are being purchased for various reasons, including stress relief for adults, companionship for parents, and as AI playmates for children [4] - The introduction of AI pets is seen as a solution for social situations, providing a way to deflect personal questions during family gatherings [5] Group 3 - The design logic of these electronic pets focuses on "growth-type companionship," allowing them to develop unique personalities based on user interactions [5] - The technology behind these products is advanced, featuring AI models and multi-modal sensors, showcasing the latest achievements in Chinese manufacturing [2] - Major players in the market include both startups and established companies like Huawei and UBTECH, with significant investment backing from firms like Sequoia and Hillhouse [8] Group 4 - Over 60% of "emotional orders" during the Spring Festival are gifts that young people buy for themselves [9] - Electronic pets serve as a medium for emotional connection, especially for those who are single or living alone [11] - The market for these products is expanding beyond niche experiments, indicating a growing acceptance and demand for technology that provides emotional value [8]

印度，闹了个"笑话"。 据环球时报报道，印度人工智能（AI）影响力峰会于16日在新德里开幕，为期五天，该科技展会由印度电子和信息技术部主办，号称"有史以来规模最 大"。展会期间，一所印度大学展示的所谓自主研发的机器狗，被发现其实是买来的中国企业现成产品。 在社交媒体广为传播的一段视频显示，一名女性在展会现场向媒体介绍时称，是该校的团队自主研发了这台机器狗，并将其名为"Orion"。然而，在被网 民质疑这是将进口产品冒充为自主研发后，校方却辩称"从未宣称"制造了这台机器狗。 当地时间2月18日，这所大学在社交平台X的官方账号发声明承认，展示的这台设备确实是从中国企业宇树科技采购的。声明还称，这台机器狗主要作为 学生学习和实验的工具使用，而非展品。 多国媒体：春晚机器人表演展现中国人工智能飞速发展 今年的总台春晚上，人形机器人的精彩表演令人印象深刻，多家国际媒体也惊叹中国在人形机器人以及人工智能领域的飞速发展。 有英国媒体评论员忍不住感叹，看到这个节目，就知道"我们输了"。 《西班牙人报》刊发题为《十几台中国人形机器人精彩的表演展现了技术的进化》的文章。报道指出，中国机器人领域正在发生的一切事情，几乎可以称 之为 ...

犹记蛇年春晚，宇树机器人身着小花袄、手持花手绢，踏着明快节拍灵动上演了一曲《秧BOT》，一经 亮相便引爆全网，成为春晚名场面。 马年春晚，机器人再次成为焦点。宇树机器人带来了一场硬核的《武BOT》。空翻、醉拳、舞剑、双节 棍，甚至还有人与机器人的"对决"，流畅的动作让观众直呼"惊艳"。 更引人注目的是，今年的舞台不再是宇树的"独角戏"，多家企业机器人同台献技，有网友戏称"没想到 机器人第一个占领的是春晚"。舞台愈发精彩的同时，一个问题也愈发清晰：机器人成为我们可靠的日 常伙伴，究竟还有多远？ 马年央视春晚节目《武BOT》 图源："央视新闻"微信公众号 也许是为了回应之前机器人跑步摔倒的事件，今年的表演中，机器人还突然躺倒在地上，来了个漂亮的 鲤鱼打挺。从这里，我们可以直观地感受到，机器人的身体控制能力越来越强了。 在《武BOT》节目之前，小品《奶奶的最爱》也出现了人形机器人的身影，被观众调侃为"30年返场"。 1996年，蔡明在小品《机器人趣话》中表演了一个可以变换各种性格的机器人，来陪伴孤独的人类。看 到今年的机器人表演，30年前小品中那看似科幻的场景，也许很快就能成为现实。 从"扭秧歌"到"功夫"，从单兵 ...