天眼查专业版数据显示，截至目前我国现存在业、存续状态的机器人相关企业超105.8万家。其中，2025年新增注册相关企业超26.1万余家，从企业注册数量 趋势来看，近五年间，机器人相关企业的注册数量呈现出逐年增长的态势，并在2025年达到顶峰。 从区域分布来看，广东省、江苏省机器人相关企业数量位居前列，两个省市数量总和超过32.7万余家，占企业总数的30.92%。排在其后的是山东省、浙江省 和上海市，北京市位列全国第六。（赵华） 2026年新年前夕，北京街头两台机器人身着舞狮装扮，灵动地舞动身躯，为新年到来增添了别样的喜庆氛围。它动作流畅，模仿着传统舞狮的姿态，时而跳 跃，时而翻滚，引得周围群众纷纷驻足观看、拍照留念。 这一场景在网络上迅速传播开来，引发网友热议：既然机器人都能舞狮了，那未来年夜饭是不是也会有机器人来帮忙制作呢？ ...

资料图。本文来源 ：网易科技 宇树科技上市绿色通道被叫停 宇树科技如果完成上市，将会成为"A股人形机器人第一股"，整个机器人产业链将迎来新一轮发 展机遇。 目前，网易科技获悉，宇树科技A股上市的绿色通道被叫停。 "国家希望能够机器人赛道降降 温，泡沫太大了。"相关人士透露。 不过，这并不意味着宇树科技的上市节奏被叫停。该人士透露，宇树科技完全符合上市资格， 排队上市，走自然流程就好了。 对于绿色通道被叫停一事，网易科技向宇树科技求证，尚未得到回应。 据悉，除了宇树科技之外，机器人公司云深处、乐聚机器人等已经陆续开始IPO进程。 今年被称为具身智能量产元年，赛道异常活跃，融资频繁，IT桔子数据显示，截至12月1日，今 年具身智能产生了463件投资事件。 ■ 1月4日消息，网易科技独家获悉，宇树科技A股上市的绿色通道被叫停，但上市并未叫停。 所谓上市"绿色通道"是一种旨在优化审核流程、缩短上市时间的机制，通过优先处理、简化程 序等方式提升效率。 根据中国证监会官网显示，宇树科技11月份已经完成了IPO上市辅导工作。公告显示，宇树科技 拟申请在境内IPO，中信证券为辅导机构。 ...

Core Viewpoint - The article highlights the growing interest and investment in the underwater robotics sector, particularly focusing on the company Deep Blue Technology, which is on the verge of becoming the first publicly listed underwater robotics company in China with an IPO plan to raise 1.5 billion yuan [5][7]. Company Overview - Deep Blue Technology has transitioned to the "Acceptance of Guidance" status for its IPO, with the guidance provided by China International Capital Corporation [6]. - The company aims to raise 1.5 billion yuan through its IPO, which, if successful, will mark a significant milestone as the first underwater robotics stock in China [7]. - Founded by Wei Jiancang, who has a strong technical background, Deep Blue Technology focuses on developing domestic underwater robotics capabilities, addressing a market that has been largely overlooked in China [9]. Product and Market Position - Deep Blue Technology has developed a diverse product line, including cable-controlled underwater robots, autonomous underwater vehicles, and underwater gliders, which are utilized in marine scientific research, hydropower, and emergency rescue operations [9][10]. - The company also has a consumer brand, Sublue, offering underwater sports products that have gained international traction, being sold in over 70 countries [10]. Financial Performance - The company has shown strong revenue growth, with revenues of 141 million yuan in 2022, projected to reach 235 million yuan in 2023 and 251 million yuan in 2024, reflecting a compound annual growth rate of 33.23% [13]. - As of mid-2025, the company reported revenues of 141 million yuan, matching the total for 2022, indicating a critical phase of revenue scale expansion [13]. - Despite high R&D costs leading to accumulated losses of 622 million yuan by mid-2025, the net loss has significantly decreased from 134 million yuan in 2022 to 6.78 million yuan in the first half of 2025 [13][14]. Industry Trends - The underwater robotics market in China has grown from 1.24 billion yuan in 2018 to 6.27 billion yuan in 2022, with expectations to exceed 30 billion yuan by 2027 [14]. - The global deep-sea robotics market is projected to reach 420 billion yuan by 2028, with the engineering service market potentially reaching 15 trillion yuan [14]. - The industry is characterized by high barriers to entry in defense and industrial-grade robotics, while the consumer market remains competitive but more mature internationally [14]. Investment Landscape - Over 40 investors, including Lei Jun, have shown interest in Deep Blue Technology, which has completed over ten rounds of financing, raising more than 1.3 billion yuan to date [8][10]. - The company has a strong and diversified shareholder structure, with the founder holding 23.64% of the shares, and institutional investors including Shenchuang Investment and others holding significant stakes [10].

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - Blue Arrow Aerospace's IPO has been accepted, indicating a potential boom in the domestic rocket launch market in 2026, with the company leading in the development of reusable rockets [7][21] - The report highlights the expected increase in the frequency of rocket launches, driven by advancements in reusable rocket technology and favorable conditions for commercial rocket companies to go public [21] - The robotics sector is anticipated to experience significant growth in Q1 2026, particularly influenced by Tesla's V3 release and mass production, with a focus on leading companies like Hengli Hydraulic [21] - The report identifies various segments within the machinery industry, noting differing trends: general machinery remains under pressure, engineering machinery is accelerating upward, while shipbuilding is stabilizing and oil service equipment is bottoming out [22][30][36][41] Summary by Sections 1. Stock Portfolio - Recommended stocks include Chaojie Co., Feiwo Technology, Guanglian Aviation, and Hengli Hydraulic [13] 2. Market Review - The SW Machinery Equipment Index rose by 1.32% over the last week, ranking 5th among 31 primary industry categories, while the CSI 300 Index fell by 0.59% [15] 3. Core Insights Update - Blue Arrow Aerospace's IPO acceptance is a significant indicator of the upcoming boom in the domestic rocket launch market, with substantial contracts already secured [21] - The report emphasizes the importance of high-frequency launches and the potential for commercial rocket companies to list publicly, creating investment opportunities in this sector [21] - The robotics industry is expected to see a strong market focus in early 2026, particularly with Tesla's developments impacting the supply chain [21] 4. Key Data Tracking 4.1 General Machinery - The general machinery sector is under continued pressure, with the manufacturing PMI recently rising to 50.1%, marking the first increase above the threshold in eight months [22] - Forklift sales in November 2025 reached 119,749 units, a year-on-year increase of 14.1% [22] 4.2 Engineering Machinery - The engineering machinery sector is experiencing an upward trend, with excavator sales in November 2025 totaling 20,027 units, a year-on-year increase of 13.9% [30] 4.3 Railway Equipment - The railway equipment sector shows steady growth, with fixed asset investment maintaining around 6% growth since 2025 [36] 4.4 Shipbuilding - The shipbuilding sector is stabilizing, with the global new ship price index at 184.33, indicating a slowdown in price declines [38] 4.5 Oil Service Equipment - The oil service equipment sector is stabilizing at the bottom, with high activity in natural gas development in the Middle East [41] 4.6 Industrial Gases - The report notes that declining raw material prices are improving steel profitability, which is expected to boost industrial gas demand [43] 4.7 Gas Turbines - The gas turbine sector is experiencing robust growth, with GEV reporting a 39% year-on-year increase in new orders for the first three quarters of 2025 [45][47]

策 略 研 究 AI 应用与机器人主题有望接力 [Table_Authors] 方奕(分析师) 主题风向标 1 月第 1 期 本报告导读： 热点主题交易热度整体回升，AI 应用与机器人迎来密集催化，商业航天延续高热度。 主题交易环境有望转好，看好：AI 应用/机器人/商业航天/内需消费。 投资要点： 策略研究 /[Table_Date] 2026.01.04 | | 021-38031658 | | --- | --- | | | fangyi2@gtht.com | | 登记编号 | S0880520120005 | | | 苏徽(分析师) | | | 021-38676434 | | | suhui@gtht.com | | 登记编号 | S0880516080006 | [Table_Report] 相关报告 越世界，越中国 2025.12.24 布局跨年攻势，科技与内需主题轮动 2025.12.21 聚焦国家重大战略，布局科技与能源 2025.12.14 12 月金股策略：做多跨年行情 2025.12.01 从再平衡到再配置，科技主题重回主线 2025.11.30 证 券 研 究 报 告 请务必阅读正 ...

汽车产业：从"软件定义"跃迁至"AI 定义"，芯片军备竞赛升级 2026年消费电子展（CES）将于1月4日至9日在美国拉斯维加斯举行，CES一向是科技企业发表年度新 品的重要舞台，展品涵盖即将上市的产品，以及仍处于概念阶段、未必投产的装置。 芯片巨头的策略在CES 2026将出现显著分化，英伟达的重心明显不在传统的消费级显卡市场。 具身智能战场：从中美韩"三国杀"看执行力进阶 2026年被视为人形机器人从Demo走向工位的关键年份，核心看点在于"降本增效"与"实战验证"。 端侧 AI 与 XR：安卓阵营的反击与中国厂商的"轻量化"突围 XR市场正在经历Apple Vision Pro发布后的"消化期"，CES 2026将是安卓阵营反击的起点。 面对传统硬件的创新天花板，厂商开始探索激进的形态突破。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 芯片军备竞赛： 英伟达： 凭借Thor芯片（2000 TOPS算力）主导L4级高端市场，极氪等车企计划 2025年量 ...

证券分析师 博静涛 A0230516110001 fujt@swsresearch.com 干胜 A0230511060001 wangshenq@swsresearch.com 研究支持 联系人 程翔 A0230518080007 chengxiang@swsresearch.com 申万宏源研究微信服务 开门红 申万宏源策略一周回顾展望(25/12/29-26/01/04) 韦春泽 A0230524060005 weicz@swsresearch.com 请务必仔细阅读正文之后的各项信息披露与声明 2026年01月04日 相关研究 一、25 年 12 月 PMI 环比超季节性改善。春节较晚，出口订单前置，支撑岁末年 初经济验证。春季没有下行风险的格局再强化，且有利于行情演绎的窗口连续不断。上 证综指连续阳线后，春季行情仍有纵深。 一、25 年 12 月 PMI 环比超季节性改善，强化了春季没有下行风险的格局。25 年 12 月 PMI、生产、新订单和新出口订单环比差值均显著好于季节性。我们认为，这与 26 年春 节较晚，出口订单前置直接相关。这在春节前的窗口，都构成支撑经济数据验证的因素。 排除经济下行风 ...

温馨提示 ： 点击下方图片，查看运营团队最新（12月）原创报告（共260页） 说明： 欢迎约稿、刊例合作、行业交流 ， 行业交流记得先加入 "机器人头条"知识星球 ，后添加（ 微信号：lietou100w ）微 信； 若有侵权、改稿请联系编辑运营（微信：li_sir_2020）； 正文： 一语成阙，还真是这7家！ Optimus V3将至，T链们在2025年年终迎来主升行情， 2026年 T链首个"利好"小作文，来了！ 目前机器人板块核心催化来自于特斯拉Optimus，T链是现阶段人形机器人产业链绝对主角；对于仍处于炒预期 的T链们，相关利好备受二级市场关注，尤其在 特斯拉发包之际、核心T链标的陆续前往北美沟通等关键节点上。 " 特斯拉Optimus Gen3量产审核已结束，7家国内公司成为特斯拉机器人Tier1供应商 。"该则资讯于1月1日发 布后瞬间刷屏行业圈，并在2日迅速发酵。 小编昨日有针对该资讯发文（ 文章 ）进行证伪，表示"出口转内销"无疑；同时表示：该资讯与12月8日特斯拉审 厂名单似乎形成闭环；12月8日午前，一份 不知出处的已通过审厂并拿到订单名单流传行业圈，同样也是7家 （LS、SH、TP ...

据IT之家，特斯拉Optimus 人形机器人的先进程度或许并未达到该公司首席执行官埃隆・马斯克所宣称 的水平。尽管马斯克向投资者保证，这款机器人能为特斯拉创造源源不断的营收，并成为公司至关重要 的产品，但有报告显示，要实现这一雄心勃勃的目标，它还有很长的路要走。据了解，马斯克对 Optimus寄予厚望，畅想未来这些机器人能走进工厂作业、包揽家务、主刀外科手术，甚至助力火星殖 民计划。他还提出要实现年产数百万台机器人的目标，并声称这类机器人有望消除贫困，让人类不再需 要为生计劳作。然而，目前每一台Optimus机器人都还依赖手工制造。 华尔街日报称，想要如马斯克设 想的那样，让Optimus大规模取代人类劳动，这款机器人仍需攻克大量技术难关。在公开亮相场合中， 该机器人往往由人类工程师远程操控，而非自主运行。此外，特斯拉的工程师们至今仍难以造出能媲美 人类手部灵敏度与灵巧度的机械手掌。有消息称，马斯克旗下公司的部分员工也对这款机器人在制造业 等日常商业运营场景中能否发挥实效提出了质疑。 ...

据了解，智元推出的灵心平台赋予机器人"灵魂"，让机器人拥有适配甜歌调性的表情、语调等特征，而 灵创平台则让机器人在短时间内学会了人类舞蹈动作。"现阶段，文娱场景或许并非最终落地目标，却 为技术提供了一个可快速验证系统能力的窗口。"上述工作人员说道。 在2025年最后一天，智元机器人的人形机器人登上湖南卫视跨年演唱会舞台，与王心凌、王鹤棣等艺人 同台完成唱跳、空翻和互动表演。在舞台外的红毯上，远征A2、灵犀X2则立住了"艺人"人设，除了与 观众完成互动之外，二者还分别为观众赋诗、进行武术表演。在京东直播间，远征A2还和孟子义、张 颜齐等明星进行唱歌接龙、即兴说唱等，灵犀X2则与明星进行互动斗舞。在场外的快闪店中，精灵G2 也为观众带来了抖空竹、华尔兹等才艺。 "虽然场景不同，但对于目前的机器人来说，完成表演的工程难度并不低。"与在特定场景的室内外展示 不同，跨年演唱会是一种高度复杂、不可控的环境。一位参与过外场机器人部署的工作人员告诉第一财 经记者，跨年舞台的灯光变化频繁、音乐节奏严格、人员密集，且演出几乎不存在"重来一次"的空间。 对机器人而言，这类场景不仅考验运动控制的稳定性，也考验多任务协同和稳定性。 从 ...