近日进行的十五运会深圳火炬传递现场，一个充满科幻色彩的身影引人注意——机器人火炬手"夸 父"作为"0号"火炬手，身披运动服零失误完成点火、挥手、奔跑、传递等一连串动作。它来自苏州吴 江，由乐聚机器人、中国移动、哈工大、北京通研院等联合攻关打造，是本届全运会科技创新的热点之 一。 "夸父"和普通人形机器人不同，无需技术人员拿着遥控器在一旁陪跑。这是因为中国移动基于5G- A网络优化了沿线站点，保障15至20Mbps稳定上行速率，可实时回传机器人第一视角的超高清画面，确 保"夸父"精准执行指令。 现场，"夸父"单臂稳稳拿起1.6千克的火炬，按照活动要求，用拟人奔跑姿态完成火炬百米传递任 务。在媒体镜头下和观众注视中，"夸父"的迈步幅度、摆臂节奏和身体重心的转移都很流畅。在斜坡路 段，它也能自主感知地形，实时调整关节姿态，步履稳健地完成交接。 本次火炬成功传递，是乐聚在动态运动控制、负重平衡等复杂环境适应领域的阶段性突破成果。车 间搬运工、走秀模特、博物馆讲解员……人形机器人正解锁越来越多职业，也代表乐聚依托长期技术积 累拓展更多应用场景，建立起一个从研发、制造到部署的全链条产业化体系。 据乐聚机器人长三角大区总经 ...

老学员续费优惠也来了！ 都在研究具身，但相当一部分同学卡在了这些地方....... 昨晚开了一个小范围的线上会，和大家唠了一会儿近期的状态。一些同学能抓到关键的部分，跟着社区里 面的路线进步较快。即使用低成本的硬件方案，也能做出不错的效果，有的同学甚至已经把act和pi0部署上 去了。 但还有相当多的同学卡住了，比如算力的问题，数据采集的问题，还有模型优化、项目实战的问题等。关 于算力，前面分享过很多轻量化的方法，也能做出不错的性能，甚至SOTA，这能够适配一些算力不足的同 学。 数据采集部分，建议大家先从基础的遥操作尝试，重点关注数据的质量，噪声数据，可能导致模型训不出 效果，特别是大多数数据都是噪声数据。数据量不够，可以尝试real2sim2real系列方法。 模型优化部分，对一些使用机械臂的同学，可以尝试RL+VLA方案，但人形和自由度多的本体，建议不要 轻易入坑，效果难做出。关于一些好的开源项目，已经汇总到社区内部，大家可以照着教程复现。 以上为我们的具身社区： 具身智能之心知识星球 的分享，也欢迎更多需要入门进阶的同学加入我们的社 区。近一年的搭建，社区内已经完成了技术路线分享、直播、问答、求职、赛 ...

Core Viewpoint - The article discusses the development of the BAAI Thor framework, which aims to enhance humanoid robots' ability to perform complex physical interactions in real-world environments, achieving human-level whole-body reactions and dynamic stability [7][8][31]. Group 1: Challenges in Humanoid Robot Control - Humanoid robots face two main challenges in transitioning from performers to laborers: the lack of human-like reaction mechanisms and the complexity of high-dimensional coordination control [9]. - The absence of effective human-like reaction mechanisms limits robots' performance under high external forces, as they often rely on rigid resistance strategies that can lead to instability [9][10]. - The high-dimensional nature of the control problem complicates the optimization of control strategies, as it involves numerous degrees of freedom and strong coupling between joints, making learning and adaptation difficult [10][11]. Group 2: BAAI Thor Framework - The BAAI Thor framework integrates biomechanical principles with innovative network structures to enable humanoid robots to achieve coordinated and stable responses in high-intensity force interactions [8][12]. - The framework includes two core components: the Force Adaptive Trunk Tilt Reward (FAT2), which guides robots to adjust their posture based on external forces, and a decoupled network structure that addresses high-dimensional coordination challenges [13][17]. Group 3: Experimental Validation - The BAAI Thor framework was tested on the Yushu G1 robot, which successfully pulled a car weighing approximately 1400 kg, demonstrating its capability for whole-body coordination and dynamic balance under extreme loads [18][20]. - Thor outperformed various baseline algorithms in force interaction tasks, achieving a peak pulling force of 167.7 N, which is about 48% of the robot's weight, representing a 68.9% performance improvement over the best baseline method [26][30]. - Quantitative analysis indicated that the introduction of the FAT2 reward function significantly enhanced the robot's adaptive posture adjustment capabilities, contributing approximately 80%-90% of the performance gains [30].

作者丨 银河通用机器人 编辑丨具身智能之心 点击下方 卡片 ，关注" 具身智能之心 "公众号 >> 点击进入→ 具身 智能之心 技术交流群 更多干货，欢迎加入国内首个具身智能全栈学习社区 ： 具身智能之心知识星球 (戳我) ， 这里包含所有你想要的。 今年 6 月，一支机器狗的视频在社交平台上刷屏——它在未训练过的真实场景（如人流密集的商场里）Zero-Shot地跟随用户，完成自主移动、避障、转向，并能 能听懂"跟着妈妈"、"去陪孩子"的语音指令。 那背后，是银河通用发布的导航大模型 TrackVLA （ 让机器人「满大街跑」走进现实：银河通用发布产品级端到端 导航大模型TrackVLA ） 。该模型由仿真大数据训练，在真实复杂场景中实现 Sim2Real，完成智能的用户跟随，展现了极强的 C 端应用落地潜力。 最近，银河通用的导航大模型技术又迎来了质的飞跃。 银河通用联合北京大学、阿德莱德大学、浙江大学等团队，推出了 全球首个跨本体全域环视的导航基座大模型——NavFoM （Navigation Foundation Model）。 如果说 TrackVLA 让机器人学会"跟着人走"，那么 NavFoM 的 ...

其表示，短期关注已进入整机厂商供应链的代工企业和核心部件供应商，中长期布局在特定场景拥有深 厚Know-how和落地能力的解决方案商。具备持续配合研发和迭代能力、工程化能力强，能确保落地可 行性以及具备全球化产能建设能力的企业将在未来脱颖而出。 公司方面，据上市公司互动平台表示， 据智通财经11月5日报道，"人形机器人第一股"优必选中标"自贡数投人形机器人数据采集中心项目设备 采购"，中标产品为优必选最新款可自主换电的具身智能人形机器人Walker S2，采购金额达1.59亿元。 截至目前，优必选Walker系列人形机器人全年已累计突破8亿元订单。 开源证券表示，人形机器人量产时刻已至，2026年随着特斯拉、宇树、智元等产线投产，产业首次进入 万台级规模化制造阶段。未来5-10年，人形机器人有望重塑制造业、服务业乃至家庭生活，成为继智能 手机、新能源汽车后的下一代通用平台。帮助AI产业链完成闭环，有望成为人类历史上首个超过"汽车 的价X手机的量"的现象级产品，将是未来10-20年最具成长性和颠覆性的黄金赛道。 *风险提示：股市有风险，入市需谨慎 拓邦股份：公司与优必选合作稳定，公司空心杯电机及空心杯电机本体+ ...

Macro Trends - The central financial office emphasizes the strategic deployment for building a financial powerhouse during the "14th Five-Year Plan" period, highlighting the necessity of a strong financial sector for achieving a modern socialist country [1] - The Ministry of Commerce announces adjustments to export control lists and unreliable entity lists, effective from November 10, 2025, impacting 15 U.S. entities [1] - The Ministry of Commerce also decides to stop anti-circumvention measures on specific U.S. imports of optical fibers starting November 10, 2025, due to changes in the trade environment [1] International Trade - Li Chenggang, the international trade representative, meets with a U.S. agricultural trade delegation, discussing the fluctuations in agricultural trade due to unilateral tariff measures from the U.S. [2] Energy and Technology - China's new energy storage capacity exceeds 100 million kilowatts, ranking first globally, with a growth of over 30 times compared to the end of the "13th Five-Year Plan" [3] - The industrial robot export growth rate exceeds 51% this year, with expectations of an average growth rate of 100% in the smart robot industry [3] - Xiaopeng Motors launches the new generation IRON humanoid robot, featuring advanced AI capabilities and a design that mimics human anatomy [4][5] Battery Technology - Tianjin University and other research institutions discover new high-performance battery materials, providing significant theoretical support for battery technology development [6] Semiconductor Industry - SK Hynix completes negotiations with NVIDIA for HBM4 supply, with prices confirmed at approximately $560, which is over 50% higher than HBM3E [7] Company News - Zhongneng Electric reports normal operational conditions with no significant changes in the internal and external business environment [8] - Zhangzhou Development also states that its production and operational conditions are normal [9] - Aerospace Hongtu is suspended from participating in military procurement activities from July 6, 2024, to July 6, 2027 [10] - Jinlong Automobile reports a 14.71% year-on-year decline in bus sales for October, totaling 4,121 units [11] - Jindi Group experiences a 65.78% year-on-year decline in signed contracts for October, amounting to 1.92 billion yuan [12]

Core Viewpoint - Mondo Tech, a robotics startup founded by former DJI and Tesla engineers, has secured a new round of financing led by Meituan and Sequoia China, indicating strong investor confidence in the company's potential in the embodied intelligence sector [1][3]. Financing History - Mondo Tech completed its angel round financing in April 2025, raising tens of millions of dollars with investors including Sequoia Capital and Meituan, who held 10%, 5%, and 5% stakes respectively. The latest financing round is reported to be between $200 million to $300 million [2][3]. Team and Founders - The founding team includes Yang Shuo, who has a background in algorithm engineering at DJI and was part of Tesla's Optimus team, and Gao Jianrong, who held various senior roles at DJI. The team is rapidly expanding, with many members coming from top tech companies and universities [9][11]. Product Strategy - Mondo Tech plans to initially focus on consumer-grade robots, such as smaller companion robots, before moving on to full-sized humanoid robots. This pragmatic approach aims to find commercial opportunities through iterative product development [12][14]. Market Context - The company operates in a competitive landscape alongside Dyna Robotics, which recently raised $120 million in funding. Both companies leverage the strengths of their respective regions, with the U.S. excelling in algorithms and China in hardware [4][5]. Future Outlook - Mondo Tech is set to launch its first product by the end of 2025 and is collaborating with partners to develop emotional and consciousness models for its robots. The company aims to redefine the consumer robotics market, although the sector currently faces challenges in delivering mature products [16][19].

| 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3969.25 | 0.23 | | 深证成指 | 13223.56 | 0.37 | | 创业板指 | 3166.23 | 1.03 | | 科创 50 | 1390.39 | 0.23 | | 北证 50 | 1525.57 | -0.21 | | 沪深 300 | 4627.26 | 0.19 | 上证指数-沪深 300 走势图 -11% -1% 9% 19% 29% 2024-11 2025-02 2025-05 2025-08 上证指数 沪深300 | 黄红卫 | 分析师 | | --- | --- | | 执业证书编号:S0530519010001 | | | huanghongwei@hnchasing.com | | | 胡跃才 | 分析师 | | 执业证书编号:S0530525070001 | | | huyuecai@hnchasing.com | | 晨会纪要（R3） 晨会纪要 2025 年 11 月 06 日 请务必阅读正文之后的免责声明 证券研究报告 晨会聚焦 ...

Group 1: Artificial Intelligence and Industrial Innovation - The Ministry of Industry and Information Technology (MIIT) of China has initiated a project to promote the development of the artificial intelligence industry and its integration into new industrialization by 2025, focusing on key areas such as AI infrastructure, "AI + manufacturing," and intelligent products [1] - Beijing plans to establish a special incubation fund for brain-computer interface technology, aiming to create an industrial cluster in Changping District, leveraging local research institutions and platforms [4] - The city is also encouraging healthcare institutions to collaborate with large model enterprises to establish AI-enabled hospitals, enhancing the quality of medical data and services [5] Group 2: Advanced Scientific Instruments and Technologies - Anhui Guoke Optical Technology Co., Ltd. has successfully developed China's first tabletop extreme ultraviolet absorption spectrometer, marking a significant breakthrough in high-end scientific instruments and providing new technological means for strategic industries like new materials and renewable energy [2] - Huawei has open-sourced its Unified Cache Manager (UCM) technology for AI inference acceleration, which aims to improve the efficiency and cost-effectiveness of long-sequence inference [3] Group 3: Robotics and Industry Development - The founder of Yushu Technology, Wang Xingxing, compared the current stage of embodied robotics development to the early years before the release of ChatGPT, predicting an average growth rate of 50% to 100% for individual companies in the domestic smart robotics sector [7][8] - The MIIT's deputy director emphasized the potential of humanoid robots as a new generation of super terminals, supporting collaborative efforts between domestic and international companies to advance key technologies in vision, language, and motion models [11] Group 4: Industry Collaboration and Growth - Beijing, Tianjin, and Hebei are collaborating to create a North Beidou space-time industry cluster with a target scale exceeding 200 billion yuan by 2027, aiming to promote the application of new Beidou independent positioning terminal products [6] - UBTECH has won a procurement contract for the "Zigong Data Collection Center for Humanoid Robots," with a procurement amount of 159 million yuan, indicating strong market demand for humanoid robots [10]

点击查看公告原文>> 配售新H股配售价46.80港元较前一交易日收市价52.20港元折让约10.3%，较前五个交易日平均收市价折 让约8.1%。配售股份占现有已发行股本约3.94%，完成后占扩大股本约3.79%。 越疆科技是中国协作机器人开发、制造及商业化的领先企业，专注于高速协作机器人及轮型、双足人形 机器人的研发与商业化。所得款项中，约7.7亿港元将用于智能机器人技术研究、机器人价值链投资收 购、销售渠道强化及一般企业用途。本次发行根据股东大会授予的一般授权实施，预计于2025年11月21 日完成。 来源：新浪港股-好仓工作室 2025年11月6日，越疆科技（股份代号：2432）公告称，通过一般授权以配售新H股方式融资，其中配 售新H股发行16,660,000股（约1.7亿股），募集约7.8亿港元；以上合计募集资金约7.8亿港元（扣除费用 后净得约7.7亿港元）。本次融资由UBS瑞银集团担任配售代理。 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于 ...