| 对外投资 50 | | 对外投资(间接) 61 历史对外投资 1 | | | 持股比例 - | 登记状态 ▼ | 更多筛选 · | 请输入企业名称 | Q 取消 | 國 导出 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 序号 | | 被投资企业名称 | 状态 | 成立日期÷ | 持股比例 ÷ | 认缴出资额 ÷ | 间接持股比例 | 所属地区 | 所属行业 | 关联产品/机构 | | 1 | 製品 | 上海觅蜂具身智能科技有限公司 | 存续 | 2026-02-03 | 75% | 375万元 | | 上海市浦东新 区 | 科学研究和技 术服务业 | | | 2 | 智元 创新 | 智元创新 (成都)科技有限公司 | 存續 | 2026-01-30 | 100% | 100万元 | | 四川省成都市 | 信息传输、软 件和信息技术 服务业 | | | 3 | 德曼 | 北京德塔源创智能科技有限公司 | 存续 | 2026-01-16 | 2% | 2万元 | | 北京市海淀区 | 科学研究和技 术服务业 | ...

2025年对具身智能行业来说，是非常重要的一年，对于星动纪元也是。我会把这一年定义为"技术突破与商业化验证双轨并进年"。 这一年，我见证了具身智能从技术尝试走向真实场景部署的拐点。一方面，星动纪元自研了ERA-42端到端VLA具身大模型，实现了对全尺寸双足人形机器 人全身及五指灵巧手的精准控制，成为全球仅有的四家能做到这一点的公司之一；另一方面，星动纪元总订单额突破5亿元，物流行业最大单笔订单近5000 万元，海外业务占比达50%，全球TOP10市值的科技巨头中有9家成为我们的客户。 星动纪元第一个真正意义上的商业化订单就出现在2025年，订单来自海外科研客户，他们看中了星动XHAND1五指灵巧手。 这件事的起点其实挺朴素的。2025年初，星动XHAND1发布时，我发了一条朋友圈，分享了团队在灵巧手技术和产品上取得的突破，海外顶尖机构的研究 人员主动找来，询问能否采购。这些机构在使用后，认可了我们产品的性能、稳定性，进行复购，有的客户多次批量采购。 2026年，星动纪元的机器人在这些场景的效率有望达到90%，这关键的20%提升是软硬件协同优化、端到端VLA模型迭代、数据飞轮运转的共同结果。其中 端到端架构的优 ...

Hydrogen Energy and Nuclear Fusion - The Chongqing Jiulongpo District has staff refueling hydrogen fuel cell vehicles, indicating advancements in hydrogen energy infrastructure [2] - The "China Fusion Engineering Test Reactor" has achieved a breakthrough with a nuclear temperature of 117 million degrees Celsius and an electron temperature of 160 million degrees Celsius, marking a significant milestone in China's fusion research [4] Embodied Intelligence - The Guangdong Embodied Intelligence Robot Innovation Center showcases a pipeline inspection robot, highlighting developments in robotics technology [6] - In Sichuan's Bazhong Tongjiang County, students interact with robotic dogs, demonstrating the integration of robotics in educational settings [8] Biomanufacturing - The Hunan Biomanufacturing Pilot Base features a purification workshop where staff use flat-panel centrifuges for material dehydration, reflecting advancements in biomanufacturing processes [10] Quantum Technology - Researchers are experimenting with the "Zhuangzi 2.0" superconducting chip, discovering controllable patterns in the preheating phase of quantum systems, which is crucial for quantum technology development [12] - The Chinese Academy of Sciences' Quantum Information and Quantum Technology Innovation Research Institute in Hefei is a key player in advancing quantum research [14] Sixth Generation Mobile Communication - The Shanghai 6G Intelligent Communication Valley showcases a company's 6G smart terminal products, indicating progress in next-generation mobile communication technology [16] - In Nanjing, researchers at the Zijinshan Laboratory demonstrate a self-developed Bayesian learning baseband chip, contributing to the development of 6G technology [18] Brain-Computer Interfaces - In Wuhan, researchers utilize mixed reality technology to present the spatial relationship between brain-computer interface devices and rat brain structures, showcasing innovations in neuroscience [20] - At the Beijing Capital International Exhibition Center, visitors experience high-performance brain-computer interface devices, indicating growing interest and advancements in this field [22]

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！ ■ 李 文 近期，沃飞长空宣布完成近10亿元新一轮融资，本轮融资由中信建投领投，创下开年以来低空经济领域 最大单笔融资纪录。此外，多家具身智能企业正在推进A股上市流程，另有多家企业向港交所提交IPO 申请。金融机构乃至资本市场对人工智能等新兴科技领域的支持力度持续提升。 责任编辑：高佳 第一，资本市场已初步形成支持科技创新的新生态。人形机器人企业密集启动IPO，最直接的制度驱动 力来自2025年6月份证监会推出的科创板"1+6"改革举措。该政策明确支持人工智能、商业航天、低空经 济等领域企业以第五套标准上市，为未盈利硬科技企业开辟了适配的资本通道。此外，这一制度红利正 在与地方产业引导基金、国家级战略性新兴产业基金形成接力。多地已设立低空经济、具身智能等主题 产业基金，通过"政府引导+市场运作"的模式，在Pre-IPO阶段为优质标的提供资本补充，进一步平滑企 业从研发到上市的融资曲线。资本市场正在从传统"融资市场"向"创新引擎"转变，主动适配科技产业的 演进节奏。 第二，从财务跟投到战略共担，金融机构实现角色"进阶"。在将政策红利转化为 ...

■李文 以沃飞长空的融资历程为例，该公司已完成五轮融资，每一轮均有清晰的功能定位。这体现出一种逐渐 标准化的融资节奏：初创期依靠风险投资验证技术路线，成长期借助产业资本打通应用场景，Pre-IPO 阶段由券商系资本提供资源赋能，上市后则通过二级市场融资支撑研发迭代。在企业不同成长阶段，金 融机构各司其职，"接力"完成对科技创新的长周期陪伴。与此同时，商业银行与保险等金融机构也在加 快适配性工具创新。知识产权质押贷款、科技研发损失保险、专利执行保险等产品逐步落地，为高研发 投入的科技企业提供更多元的信用支撑。 从财务跟投到战略共担，金融机构的角色不再止步于资本供给，而是深度嵌入创新内核，成为驱动技术 产业化的重要力量。这一角色的确立，将帮助新兴科技企业在关键成长期获得长期、稳定、有温度的资 本陪伴。随着耐心资本矩阵持续完善，一个资本与科技双向赋能、共生共荣的创新生态正加速形成。 第一，资本市场已初步形成支持科技创新的新生态。人形机器人企业密集启动IPO，最直接的制度驱动 力来自2025年6月份证监会推出的科创板"1+6"改革举措。该政策明确支持人工智能、商业航天、低空经 济等领域企业以第五套标准上市，为未盈利硬 ...

Core Insights - The industry of embodied intelligence is at a crossroads of capital and industrial focus, with increasing financing and frequent technological demonstrations, yet facing challenges in stability, scalability, and cost control [1] Group 1: Financing and Valuation - Starry Sea has completed a Series B financing round of 1 billion yuan, bringing its total financing to nearly 3 billion yuan and achieving a valuation of 10 billion yuan, making it a unicorn in the embodied intelligence sector [1] - The CFO of Starry Sea emphasizes that the success in the AI industry is driven by Scaling Law, where the efficiency of capital utilization is more critical than the amount of financing [1][2] Group 2: Industry Dynamics - The current phase of the embodied intelligence industry is compared to the "Hundred Groups War," where companies are advised to focus on understanding the essence of business rather than just technology [2] - The industry is transitioning from early-stage technology exploration to resource-intensive competition, with a shift in capital logic from broad investment to focusing on leading companies [2] Group 3: Commercialization and Technology - The commercialization of embodied intelligence is divided into technology-driven and business-driven aspects, with specific operational boundaries that need to be met for successful deployment [4] - The CFO believes that the industry is still in the early stages of a technological race, and companies must retain sufficient funds to cope with the increasing costs of data and model training [2][4] Group 4: Financial Potential and Business Model - The ToB (business-to-business) segment of embodied intelligence has significant revenue potential, with large orders capable of generating substantial income, but the focus should be on revenue quality metrics [5] - The long-term business model in this industry is likened to selling "tokens of the physical world," with the real barriers being intelligence levels and the ability to design and manufacture hardware [5] Group 5: Competitive Advantages - China is recognized for its data supply chain advantages, which are significantly more cost-effective than those in the U.S., allowing for greater data collection at lower costs [6] - The CFO highlights that the unique aspect of embodied intelligence companies lies in developing their foundational models for physical world execution, emphasizing the need to focus resources on building these capabilities [7]

瑞财经 吴文婷2月11日，星海图宣布完成10亿元B轮融资。 本轮投资方包括一线产业资本金鼎资本、北汽产投、碧鸿投资，顶尖PE基金正心谷资本、前海方舟和 国际化基金毅峰资本。五位主要老股东凯辉基金、美团龙珠、今日资本、襄禾资本和高瓴创投联手超额 或满额追加。 其中，创始人兼CEO高继扬本科毕业于清华大学电子工程系，高中时期通过物理竞赛保送清华。他在校 期间即展现出对人工智能的兴趣，后赴南加州大学攻读计算机视觉博士学位，仅用3.5年完成学业并成 为该校实验室最短毕业纪录保持者。 据企查查显示，截至本轮融资后，星海图估值约百亿元。通常而言，百亿估值被视为进入具身智能行 业"第一梯队"的门槛，星海图成为了继宇树、智元、银河通用之后，具身智能行业最新一只百亿"独角 兽"。 公开资料显示，星海图成立于2023年9月，是一家专注打造"一脑多型"具身智能机器人的人工智能企 业，始终致力于通用具身智能体的研发，从具身本体、端到端算法，再到场景落地解决方案，均实现全 栈自研。 公司的创始团队为"90后清华系"。 而联合创始人赵行为清华大学交叉信息研究院助理教授、博士生导师，MIT博士毕业，主攻多模态学习 与机器人移动技术。联合创 ...

成立仅28个月，百亿独角兽从北京破空而出。 2月11日，具身智能公司星海图宣布，完成10亿元B轮融 资，估值一举突破100亿元大关，这笔融资将用于具身基础模型迭代、硬件产能扩张及全球开发者生态 建设。 在具身智能领域，这是国内第四家百亿级创业公司，仅次于宇树、智元、银河通用。星海图创 始人兼CEO高继扬，现年34岁。其在清华大学电子工程系一毕业，就赴南加州大学攻读计算机视觉博士 学位，其后，加入Waymo、Momenta等自动驾驶企业，30岁前便主导完成全栈智能驾驶算法的研发与量 产。 2023年9月，高继扬与搭档赵行共同创立星海图，融合前沿算法与自动驾驶量产经验，致力于打造 通用具身智能的"大脑"，适配各类机器人本体，以实现规模化落地。5个月后，两人即获千万美元天使 轮，2025年起，陆续完成A轮系列融资，加上10亿的B轮，合计融资额已近30亿元。28个月，星海图的 估值增长超过百倍。（21财经） ...

Group 1: Business Structure and Development Trends - The company has divided its business into four main segments: Automotive, Power Energy, Digital Energy (AI Liquid Cooling), and Embodied Intelligence [2][3] - The Automotive segment is expected to maintain steady growth, supported by market share increase and high growth in overseas markets [2] - The Power Energy segment is benefiting from explosive growth in overseas AI data centers, with significant demand for diesel and gas generator sets [3] Group 2: Internationalization Strategy and Importance - The internationalization strategy, initiated in 2010, has evolved through establishing overseas offices, warehouses, and manufacturing bases, leading to a gradual transition from losses to profitability [4] - The company has built strong strategic partnerships with global leaders in various sectors, enhancing its international operational experience [4] - The overseas business lines are entering a phase of accelerated growth, with increased capacity expansion and customer acquisition [4][5] Group 3: Future Outlook for New Business Areas - The company aims to strengthen its global strategy and enhance competitiveness in key areas such as AI liquid cooling, power energy, and embodied intelligence [5] - As new businesses accelerate and scale up, significant growth momentum and performance elasticity are expected [5]

Core Insights - Starry Sea Map completed a 1 billion yuan Series B financing round, with investors including leading industry capital and top private equity funds, marking a significant recognition of its technology and commercialization progress [2][3] - The financing round indicates a shift in market focus from early-stage technology validation to deep consideration of industrial collaboration and commercialization [3][4] Financing Details - The round included participation from industry capitals such as Jinding Capital, BAIC Investment, and Bihong Investment, which will accelerate the integration of Starry Sea Map's technology in key sectors like smart manufacturing and automotive [3] - Top private equity funds like Zhengxin Valley Capital and Qianhai Ark's interest reflects long-term value recognition from investors in the sector [4] - International capital from Yifeng Capital enhances the company's global expansion efforts, aligning with its market growth [4] - Existing shareholders, including K2VC, Meituan Longzhu, and Hillhouse Capital, have increased their stakes, showcasing strong confidence in the company's execution and growth potential [4] Technological Advancements - The core technology barrier of Starry Sea Map stems from its "post-90s Tsinghua team," which combines top academic capabilities with industry engineering experience [6] - The company is focused on an end-to-end visual-language-action (VLA) model technology route, with continuous iterations leading to the release of the G0 model and its upgraded version G0 Plus, which is positioned as the world's first out-of-the-box VLA model [6] - Starry Sea Map has built a high-efficiency data collection and model training base, enhancing data collection efficiency and quality through innovative methods [6][8] Market Position and Commercialization - The company has achieved thousands of orders, covering top global universities and industry leaders, validating its market competitiveness [8] - Starry Sea Map leads in the deployment scale and market share in the wheeled dual-arm robot sector, with its platforms being utilized by over 90% of top global developers [8] - The company is transitioning from demonstration feasibility to large-scale deployment, having secured significant orders from leading automotive manufacturers and logistics companies [8] Vision and Future Goals - Starry Sea Map aims to redefine its mission beyond manufacturing single robots, focusing on building foundational infrastructure for the intelligent transformation of the physical world [9] - The company is committed to deploying 10 billion intelligent agents to serve 10 billion people, having established a closed-loop verification from technology research and product innovation to commercial landing [10]