头部本体厂商选择全栈自研，方案各异，如特斯拉(腱绳)、FigureAI(连杆)、智元(混合)、星动纪元(纯直 驱)等，是灵巧手的主力。独立第三方集成商，如因时机器人、强脑、傲意、灵心巧手、灵巧智能等进 展较快;此外零部件厂商延伸至整手集成，如兆威、雷赛、帕西尼等，同时兼售模组零部件。目前灵巧 手价格差异大，主流价格5-10万/只，中期价格预计降至0.5-3万/只，占本体成本比重20%左右。据东吴 证券测算，2030年人形机器人300万台+，市场空间约900亿，对应零部件市场空间较大的为触觉传感 器、空心杯电机、齿轮、丝杆。 手部多维感知是方向，促进手脑协同 灵巧手需通过触觉传感器、关节力控和编码器等将数据反馈至大脑，从而构建物体物性库和抓握数据库 等，并通过仿真平台，扩大数据集，从而优化大脑的运规的泛化性。触觉传感器追求高灵敏度、高集成 度、高延展性、成本低，目前多技术路线并行。压阻式力维度低(一维法向力)、灵敏性不足(阈值10g)， 在低端先放量;而电容式及电磁式性能更优，感知三维力，力分辨<1g，抗干扰能力提升和体积缩小后， 放量潜力大;视触觉传感器理论上限高，但对数据和算法要求高。 头部本体厂全栈自研， ...

Core Viewpoint - The company, Jingye Intelligent, is focusing on developing specialized robots for the nuclear industry and military applications, with a particular emphasis on the "Wolf 2" robot designed for high-radiation environments [2][3]. Group 1: Product Development and Applications - Jingye Intelligent's "Wolf 2" robot aims to perform multiple emergency tasks in nuclear scenarios, such as picking up fallen radioactive materials and monitoring radiation levels [2]. - The company is collaborating with Hangzhou's "Cloud Deep" to enhance its robotic capabilities, leveraging Cloud Deep's advanced motion control technology [4]. - The "Wolf series" robots are designed to be customizable, integrating various sensors and control systems to meet specific operational needs [3][4]. Group 2: Market Strategy and Financial Performance - In 2023, Jingye Intelligent reported a revenue of 276 million yuan, a year-on-year increase of 7.94%, and a net profit of 37.6 million yuan, up 8.40% [8]. - The company is restructuring its organization to improve efficiency and project management, aiming for better resource allocation and execution capabilities [8]. - Future growth is anticipated in 2025, driven by increasing demand in military projects and continued expansion in the nuclear sector, including nuclear fuel and next-generation nuclear technologies [9][10]. Group 3: Industry Trends and Challenges - The company recognizes the importance of finding practical application scenarios for robots, particularly in replacing human labor in hazardous environments [5]. - There is a focus on addressing energy challenges for robots, with ongoing research into long-lasting battery solutions suitable for extreme conditions [6]. - The development of humanoid robots is seen as a long-term goal, with current advancements benefiting various robotic forms across the industry [5].

智通财经4月28日电，湖北省委副书记、省长李殿勋4月27日主持召开省政府常务会议。会议要求，要遵 循科技创新规律、产业发展规律和市场运行规律，立足湖北科教资源、产业基础、应用场景等优势，坚 持"新需求牵引新供给、新供给创造新需求"的双重导向，坚持发展工业型机器人和服务型机器人齐头并 进，科学务实推进包括人形机器人在内的无人智能装备产业加速发展，为培育新质生产力、激发新动能 作出更大贡献。要聚焦"科技研发、成果转化、产业培育"三个关键环节，通过完善产业支持政策、设立 专项投资基金、搭建研发共享平台、组建产学研金协同创新联盟、建设专业化科创园区、举办全球高端 展会论坛、构建跨部门协调推进机制，努力打造一流产业生态，为人形机器人等具身机器人乃至整个无 人智能装备产业的发展提供有力支撑。 湖北：科学务实推进包括人形机器人在内的无人智能装备产业加速发展 ...

Group 1 - The core viewpoint of the report is that bionic robots may represent the ultimate form of humanoid robots, driven by infrastructure, technology commonality, and deeper human desires related to aging and declining birth rates [1] - The lightweight structure of humanoid robots is expected to trigger a new materials revolution, with magnesium alloys and engineering plastics being highlighted as key materials for reducing energy consumption [1] - Companies such as Baowu Magnesium Industry and Xusheng Group are recommended for their deep involvement in magnesium resources and processing [1] Group 2 - The increasing demand for precise operations in humanoid robots is leading to a rise in the need for new materials, particularly in sensors and actuators [2] - Optical six-dimensional force sensors and tactile sensors are identified as critical components, with companies like Platinum and Huazhu High-Tech suggested for their potential benefits [2] - The drive system is crucial for robot movement, with SMA alloys and EAP materials being highlighted for their advantages, recommending companies like Western Materials and Youyan New Materials [2] Group 3 - Energy and power are central to robot functionality, with rare earth permanent magnet materials expected to enhance efficiency in smaller volumes [3] - Solid-state batteries and silicon-based anodes are emerging technologies that could alleviate concerns about robot endurance, with companies like Sanxiang New Materials and Dongfang Zirconium suggested for their potential benefits [3] - The report emphasizes the importance of NdFeB permanent magnet materials and solid-state battery technologies in the commercialization of high-performance humanoid robots [3]

1.【机器人和智能制造主题基金在北京亦庄设立，首期规模3亿元】据北京亦庄微信公众号消息，北京亦 庄北工智造股权投资基金合伙企业（有限合伙）近日在北京经济技术开发区（北京亦庄）注册成立。该 基金由北京亦庄投资有限公司、北京亦庄机器人科技产业发展有限公司、北京工业发展投资管理有限公 司共同发起设立，首期规模达3亿元。截至目前，基金管理团队已完成对17家机器人和智能制造企业的深 度调研和储备工作。目前，基金已正式启动首批项目尽调流程。（光明网） 2.【美的人形机器人5月进厂，下半年进入线下门店】美的人形机器人落地时间表公布。4月27日，界面新 闻从美的方面获悉，其自主研发的类人形机器人，将于5月正式进入湖北荆州的洗衣机工厂，用于机器运 维、设备检测和搬运等场景。此外，美的人形机器人将于今年下半年陆续进入线下门店，用于商业导 览、制作咖啡等场景。（界面新闻） 3.【无锡市具身智能机器人工业数据采集与实训中心获授牌】据"无锡发布"，4月24日至26日，由中国电 子学会主办的首届具身智能机器人运动会在无锡举办。活动现场，无锡市具身智能机器人工业数据采集 与实训中心获授牌。惠山区与北京人形机器人创新中心签约共建无锡具身智能 ...

Group 1 - The "Robot Future is Here - Futian Industry Matching Conference" was held in Shenzhen, aiming to gather industry resources and explore advanced technologies and application scenarios in the robotics sector [1] - The Futian District has launched the "Robot Ecological Incubation Building" initiative to accelerate the transition of technological achievements from the laboratory to the application market, providing strong support for the robotics industry cluster [3] - The Huqiang Innovation and Technology Plaza has been awarded the first batch of "Futian District Robot Ecological Incubation Building" certification, marking progress in the smart manufacturing sector [3] Group 2 - The Huqiang Innovation and Technology Plaza focuses on a dual-driven development model of "hardware research and development + algorithm innovation," aiming to create a collaborative innovation base that integrates technology breakthroughs, achievement transformation, and industry incubation [3] - The park has established a complete high-end manufacturing industry ecosystem through precise investment attraction, focusing on strategic emerging industries such as smart terminals, intelligent robots, and semiconductors [3] - The certification as a "Futian Robot Ecological Incubation Building" is a recognition of the park's industrial agglomeration effect and an important supplement to the regional smart manufacturing ecosystem [3]

Group 1 - Company UBTECH has made significant progress in the commercialization of humanoid robots by signing a procurement contract for industrial humanoid robots Walker S1 and Walker C with several well-known automotive manufacturers [1] - The contract marks the first small-batch procurement of humanoid robots globally, indicating a solid step towards the application of humanoid robots in industrial manufacturing scenarios [1] - UBTECH aims to produce approximately 1,000 humanoid robots this year to gather more data in real customer environments [1] Group 2 - Midea announced that its self-developed humanoid robots will enter a washing machine factory in Jingzhou, Hubei, in May for machine operation, equipment inspection, and logistics [2] - By the second half of this year, Midea's humanoid robots will also be deployed in offline stores for commercial guidance and coffee-making [2] - According to TrendForce, 11 major humanoid robot manufacturers in China plan to start mass production in 2024, with expectations that the market value of humanoid robots will exceed 4.5 billion RMB by 2025 [2] Group 3 - According to a report from招商证券, 2025 is expected to be the year of mass production for humanoid robots, indicating a positive outlook for the humanoid robot industry [3] Group 4 - Related Hong Kong stocks in the humanoid robot industry include UBTECH, Midea Group, and 越疆, along with component suppliers such as 金力永磁, 德昌电机控股, and others [4]

以下文章来源于申万宏源证券上海分公司 ，作者司伟杰 申万宏源证券上海分公司 . 申万宏源证券上海分公司官微，能为您提供账户开立、软件下载、研究所及投顾资讯等综合服务，为您的财富保驾护航。 ----------------- 本周市场概况 本周创业板强于上证指数，随着沪深 300ETF 净买入有所减缓，市场自发性力量开始接手。上周末的机器人半程马拉松比赛并未降低行业 发展的预期，叠加特斯拉机器人可能来中国建厂的传闻，机器人产业链热度回升，本周表现强势。本周电池大厂的新技术发布会带动了钠 离子电池以及其他新能源产业链的估值修复，氢能受部分省份的《氢能产业中长期发展规划》等涨幅居前，电力、银行等防守方向偶有表 现，贵金属、半导体等板块则面临回调压力。 整体看，本周板块轮动较快，市场窄幅震荡，成交量环比变化不大，缺乏明确的市场机会和操作空间，并且，随着五一长假的临近，下周 三个交易日预计还会延续此状态。 四月的超额收益在哪？ 四月份如果问哪个因素最容易获取超额收益？那么答案一定是业绩。近几周业绩超预期公司，普遍收益较好。首先， 去年四季度和一季度 营收、扣非净利润双增的公司，大概率公司经营良好，并且有望延续，毕竟对未 ...

优必选科技副总裁庞建新说，市场已出现各种类型的人形机器人，并且展示出搬运、抓取细小物 体、做家务等作业操作能力。不过，人形机器人的具体作业操作要求尚未统一，产品应用的验收、监管 等环节也缺乏技术标准。制定人形机器人作业操作技术要求国家标准，将有助于解决这些问题，推动人 形机器人技术进步和产业发展。 原标题：首批人形机器人技术国标立项 科技日报讯 （记者华凌）人形机器人产业正处于快速发展期，标准化建设成为推动产业发展的重 要动力。近日，首批人形机器人技术要求系列国家标准正式获批立项。这标志着我国人形机器人行业发 展迈上新台阶，将为产业规范化和高质量发展注入强劲动力。 在全国机器人标准化技术委员会秘书处承担单位——北京机械工业自动化研究所有限公司的统筹 下，深圳市优必选科技有限公司（以下简称"优必选科技"）、北京人形机器人创新中心有限公司、上海 人工智能实验室等共同发起国内首批人形机器人领域国家标准，涉及环境感知、决策规划、运动控制、 作业操作等多项技术要求。其中，北京人形机器人创新中心有限公司牵头编写了运动控制技术要求；优 必选科技主导牵头制定作业操作技术要求，针对灵巧操作、腿部移动作业、双臂操作等进行规范，填 ...

Group 1 - The Shandong Robot Conference and the 2025 Intelligent Future Robot (Drone) Dream Exhibition was held in Jining, attracting 217 exhibitors and showcasing 1,028 products, including humanoid robots and intelligent drones from global tech giants like Tesla and DJI [2][3] - The conference aimed to accelerate the integration of technological and innovative resources in Shandong's robot industry, enhancing corporate innovation capabilities and promoting high-quality development [3][10] - Major robot project signings took place during the opening ceremony, indicating a vibrant future for the robot industry and its potential applications across various fields [2][3] Group 2 - The exhibition featured advanced technologies such as AI-driven surgical robots, which can create personalized surgical plans in 5-10 minutes using patient CT images, addressing the imbalance between orthopedic patients and available doctors [6][7] - Brain-machine interface technology was showcased, allowing users to control drones and other devices through thought alone, demonstrating significant potential in medical rehabilitation and communication for disabled individuals [8][9] - The integration of AI and robotics is seen as a core driver of the new technological revolution, with companies like Luoshi Robotics emphasizing the importance of AI in enhancing robot capabilities for practical industrial applications [9][10]