加快核心零部件研发和终端产品量产，构建产业集群。 建设算力、实训场等五大公共服务平台，推动数字孪生训练闭环。 聚焦物流、工业、医疗等五大领域示范应用，提升自动化水平。 上海市人民政府办公厅近日印发《上海市具身智能产业发展实施方案》，旨在打造全球具身智能产业创 新高地。方案明确，到2027年，上海将实现具身智能核心技术突破不少于20项，核心产业规模突破500 亿元，并建设多个孵化器，集聚百家骨干企业，落地百大应用场景。 重点举措包括： 强化模型创新，支持感知决策、运动控制等关键技术攻关，最高给予5000万元资金支持。 同时，方案将完善开源生态、安全标准及人才培养，深化国际合作。该方案自2025年7月28日起施行， 有效期三年。 （总台记者 盛瑾瑜） ...

8月6日，上海市人民政府办公厅发布《上海市具身智能产业发展实施方案》(以下简称《方案》)，该方 案自2025年7月28日起施行，有效期至2028年7月27日。 面向具身智能发展共性需求，整合全市资源，建设算力、实训场、中试、投资、租赁五大平台，夯实具 身智能产业发展基础底座。对产业创新服务平台建设项目，按照核定项目总投资，给予最高50%且不超 过2000万元支持。 优化市级智能算力公共服务平台和市级智能算力资源统筹调度平台，统筹现有智算资源，加强算力资源 调度与管理，对达到一定算力租用规模的具身智能企业给予最高4000万元/年的算力券支持。 在具身智能应用方面，《方案》提到，立足上海市行业优势，以物流装配、工业制造、商业零售、医疗 康养、家政服务等领域为牵引，开展场景征集与任务揭榜，探索具身智能应用新业态，对产业创新融合 示范应用项目，按照核定项目总投资，给予最高20%且不超过1000万元支持。 此外，《方案》明确，将招引和培育一批优质企业、产业生态主导型企业，对销售或租赁具身智能机器 人的企业，根据合同额按规定给予最高5%且不超过500万元的奖励。 深化与央企国企战略合作，推动一批区域总部、功能总部落户，支 ...

Core Insights - Shanghai Municipal Government released the "Implementation Plan for the Development of Embodied Intelligence Industry" to seize opportunities in embodied intelligence and establish a global innovation hub in this sector [1][2] Group 1: Development Goals - The plan aims to achieve breakthroughs in core algorithms and technologies related to embodied models and corpora, targeting at least 20 breakthroughs by 2027 [1] - It also aims to establish no less than 4 high-quality incubators for embodied intelligence, with a goal of gathering 100 key industry enterprises and promoting 100 internationally leading products [1] Group 2: Financial Support and Investment - The plan emphasizes the role of municipal AI venture capital funds to support quality enterprises in the embodied intelligence sector, promoting early-stage cultivation and investment mechanisms [2] - It proposes to enhance financing accessibility for SMEs by exploring new financial tools related to embodied intelligence [2] Group 3: Technological Development - The plan highlights the importance of developing specialized chips and core components for embodied intelligence, leveraging Shanghai's advantages in autonomous computing chips and robotics [2] - It encourages the establishment of research and production bases for high-value components like joint modules and intelligent sensors in Shanghai [2] Group 4: Enterprise Incentives - The plan includes incentives for companies selling or leasing embodied intelligence robots, offering rewards of up to 5% of contract amounts, capped at 5 million yuan [2] - It aims to deepen strategic cooperation with state-owned enterprises and attract regional headquarters and functional headquarters to Shanghai [2]

8月5日，科创板上市公司上纬新材（688585.SH）在停牌核查3个交易日后复牌，开盘后股价一路飙升 至110.48元/股，单日涨幅达20%，总市值突破445.63亿元。至此，其年内累计涨幅已高达1560%，成为 2025年A股首只涨幅超15倍的"妖股"。 "10倍股"进阶为"15倍股"，仅用3个交易日 消息一出，上纬新材股价连续涨停。7月9日至30日，上纬新材16个交易日已连续斩获11个"20cm"涨停 板，累计涨幅达1083%，市值从30亿元暴涨至371亿元。7月28日，上纬新材已录得10倍涨幅。而从今年 的"10倍股"进阶为"15倍股"，上纬新材仅用了短短3个交易日。 市场憧憬，智元机器人借壳上市，上纬新材从传统材料商转型为"人形机器人平台"，估值逻辑从化工切 换至AI赛道。 在股价暴涨期间，上纬新材股票交易换手率显著高于前期水平。7月22日至7月28日，公司股票换手率分 别为7.56%、9.50%、5.44%、5.60%、5.33%，按外部流通盘计算的换手率分别约为49%、61%、35%、 36%、34%，显著高于前期换手率水平。 基本面"拉响警报"，被上交所列为重点监控对象 尽管股价高歌猛进，上纬新 ...

作为全球触觉传感赛道的领跑者及具身算法模型领域的先锋者，帕西尼手握高技术壁垒触觉传感利剑与 海量全模态具身数据基石，构建起"高精度物理感知（传感器）-海量全模态数据（数据集）- 泛化智能 决策（大模型）-多场景落地"的具身智能核心生态闭环，不仅将重塑机器人与物理世界的交互方式，更 将深度赋能众多产业合作伙伴，与多方形成深度协同共振，撬动千行百业智能化升级。同时帕西尼构建 的开放生态，也将汇聚全球力量，共同携手加速具身智能真正落地。 8月5日，帕西尼对外表示，公司近日完成新一轮A系列融资，本轮由京东战略领投，浦耀信晔、宏兆基 金、张科垚坤、上市公司新国都、北京昌平先进能源制造产业直投基金、财鑫资本、复琢投资跟投，老 股东湖南财信产业基金、钧犀资本、TCL创投、毅达资本持续加码，庚辛资本中国继续担任独家战略财 务顾问。据悉，帕西尼在短短4个月内，已融资10亿元人民币。 除众多著名财务投资机构纷纷看好外，帕西尼在国内多领域头部产业方的聚力尤为值得关注：继接连获 得比亚迪、北汽、上汽、新奥集团、TCL、商汤、新国都等国内知名产业资本青睐后，本次帕西尼再获 京东战略领投，这不仅是对帕西尼技术实力的又一次强力肯定，更进一 ...

Investment Rating - The report does not explicitly state an investment rating for the automotive industry or the embodied intelligence sector Core Insights - The embodied intelligence sector is entering a rapid implementation phase as of 2025, with multiple manufacturers planning mass production of robots across various applications [12][16][18] - The automotive industry is actively integrating embodied intelligence into its supply chain, leveraging existing technological advancements and manufacturing capabilities [34][37] - Government policies across various provinces are increasingly supportive of the embodied intelligence and robotics industries, aiming to foster innovation and market expansion [17][21][18] Summary by Sections 1. Rapid Development of Embodied Intelligence - The period from 2020 to 2025 marks a significant evolution in embodied intelligence, driven by advancements in AI and robotics, particularly following the release of OpenAI's ChatGPT3 [11] - Major manufacturers like Tesla and Xiaomi are entering the market, with Tesla predicting a production capacity of over 5,000 units by 2025 and 50,000 units by 2026 [13][16] - The demand for robots in various sectors is projected to grow significantly, with manufacturing being a primary area for automation due to its repetitive tasks [25][27] 2. Integration of Automotive and Embodied Intelligence - The automotive industry is leveraging its existing technological expertise in areas such as sensor fusion and control algorithms to facilitate the development of embodied intelligence [34][37] - Over ten automotive manufacturers are actively pursuing the embodied intelligence sector through self-development and strategic investments [36][37] - The shared supply chain for components like sensors and chips between automotive and robotics sectors is expected to reduce costs and enhance production efficiency [43][49] 3. Government Support and Policy Framework - Various provinces, including Shenzhen and Beijing, have introduced policies to support the development of embodied intelligence, focusing on technology breakthroughs and ecosystem building [17][21][18] - The policies aim to create a conducive environment for innovation, with specific targets for industry scale and technological advancements by 2027 [18][21] - The report highlights a collaborative approach among regions to drive the growth of the embodied intelligence sector, emphasizing the importance of technology and market integration [18][21]

Core Viewpoint - The embodied intelligence industry is transitioning from demonstration to practical application, with the second half of the year being a critical period for delivering results [1] Group 1: Company Strategy and Market Position - Zhiyuan has secured a contract with China Mobile for 78 million, indicating strong market demand for its humanoid robots in service sectors [2] - The company aims to provide an integrated hardware and software experience, similar to Apple, rather than an open interface model like Android [10] - Zhiyuan's focus is on real-world data collection, emphasizing that synthetic data cannot fully capture the complexities of physical interactions [6] Group 2: Product Development and Supply Chain - The company anticipates several thousand units to be shipped this year, but faces challenges in the supply chain, particularly with core components like joints and reducers [4] - Zhiyuan is committed to a fully self-developed approach, integrating body, brain, and cognitive functions to create a closed-loop system for product development [5] - The company is exploring both open and real-world scenario data collection to enhance its data diversity and quality [7] Group 3: Market Trends and Future Outlook - The second half of the year is viewed as a window of opportunity for embodied intelligence, with expectations for significant market validation [2] - The company sees a vast potential market for embodied intelligence applications, predicting that specialized companies will emerge in various segments [2][10] - Zhiyuan is also considering entering the quadruped robot market to diversify its product offerings and better understand market needs [13] Group 4: Cost Management and ROI - The company believes that as industrial applications expand, manufacturing costs will decrease, making products more acceptable to clients [11] - Zhiyuan focuses on achieving a reasonable return on investment (ROI) rather than merely reducing costs [11] Group 5: Competitive Landscape - The entry of automotive companies into the embodied intelligence space is seen as a natural progression, but Zhiyuan remains focused on its core business [10] - The company acknowledges that while automotive firms have advantages in supply chain and management, the market for embodied intelligence is significantly larger than that for electric vehicles [10]

Group 1 - The core viewpoint of the article highlights the trend of companies opting for "+" round financing as a response to the changing capital market environment, indicating a shift from rapid fundraising to a more cautious approach with a focus on rational valuations [1][2] - "+" round financing allows companies to extend their development cycle and meet funding needs without reaching the thresholds required for subsequent financing rounds, which is particularly relevant for technology startups with long commercialization timelines [2][4] - This financing method enables companies to attract both existing and new investors by maintaining the same valuation and subscription price for all shareholders, thus balancing interests and promoting efficient capital flow [3][4] Group 2 - The trend of "+" round financing reflects a mutual adaptation between the funding needs of startups and the capital market environment, driven by the necessity for ongoing funding in the face of extended commercialization periods [2][4] - Early-stage technology companies benefit from "+" round financing as it reduces the pressure of large single-round funding and allows for a more favorable investment environment, thus enhancing financing efficiency [4] - The prevalence of "+" round financing indicates a demand for rationalization of company valuations, allowing for real-time reflection of a company's value and dynamic adjustment of investment judgments [4]

Core Viewpoint - The article highlights the significant role of youth volunteers in facilitating international exchanges during the third China International Supply Chain Promotion Expo, showcasing their contributions to enhancing global cooperation and understanding [9][10]. Group 1: Volunteer Contributions - A total of 480 youth volunteers from 10 universities in Beijing participated in the expo, accumulating 2,902 shifts and 26,467 hours of service [9]. - Volunteers served as "living maps" and knowledge repositories, assisting in guiding visitors and providing translation services to ensure smooth communication between international delegations and exhibitors [11][12]. - The expo featured an exhibition area of 120,000 square meters, with volunteers required to familiarize themselves with various exhibition zones to enhance reception efficiency [11][12]. Group 2: Observations and Insights - Key themes observed during the expo included "technological innovation," "full chain," and "cooperation," indicating a strong focus on collaborative efforts in global supply chains [13][14]. - The event attracted increased international participation, with foreign exhibitors and visitors showing heightened interest in China's advancements in AI and smart manufacturing [15][16]. - Volunteers noted a growing demand for bilingual talents proficient in international law, reflecting the evolving needs of companies engaged in global supply chain cooperation [16][18]. Group 3: Personal Growth and Future Aspirations - Volunteers expressed that their experiences at the expo helped them discover new career paths and the importance of being "language+" composite talents, capable of bridging cultural gaps and solving practical problems [17][18]. - The event inspired volunteers to pursue further education and careers in international cooperation, emphasizing the need for a broader knowledge base and cultural understanding [17][18].

Core Insights - Guangdong's foreign trade, exports, and imports reached historical highs in the first half of the year, indicating robust economic vitality in the Greater Bay Area [1] - The theme of the recent roundtable meeting was "Focusing on Technological Innovation and Industrial Cooperation," aiming to enhance urban development capabilities [1] - The Greater Bay Area is recognized as a world-class city cluster with strong foundations for optimizing urban structure and promoting high-quality development [1] Group 1: Traditional Industry Transformation - Guangdong's traditional industries, such as home appliances, light industry textiles, and food, are large-scale and aim to collaborate with Hong Kong and Macau to apply advanced technologies for product quality enhancement [2] - The focus is on upgrading traditional industry performance and reconstructing the industrial base [2] Group 2: Emerging Industry Development - The Greater Bay Area seeks to strengthen joint efforts in key technologies within emerging industries like integrated circuits, new energy vehicles, low-altitude economy, and biomedicine [2] - The goal is to cultivate leading enterprises and enhance regional industrial competitiveness [2] Group 3: Future Industry Layout - Future industries such as biomanufacturing, quantum technology, embodied intelligence, and 6G are targeted for development [2] - The strategy includes leveraging the advantages of manufacturing, research, talent, and finance across the Greater Bay Area to establish industry standards and broaden new market opportunities [2] Group 4: Institutional Mechanism - The roundtable meeting serves as a regular mechanism to promote business integration among Guangdong, Hong Kong, and Macau, implementing the consensus and outcomes of the Greater Bay Area development conference [2] - Activities have been held in various locations including Guangzhou, Dongguan, Hong Kong, and Zhuhai [2]