工信部电子信息司副司长史惠康表示，期待比赛能打造成高水平的竞技舞台，发现和汇聚全球顶尖的创 新人才团队，构建开放的国际合作交流平台。以赛促研、广聚英才、加强融合、共创共赢，引领行业变 革。 转自：新华财经 11月18日，第一届IEIIC国际创新大赛启动仪式暨智能机器人产业链融通行动大会在江苏常熟举行。大 会由中国电子企业协会、苏州智能机器人产业创新联盟主办，汇聚政府代表、行业组织、知名院校及企 业嘉宾，整合"政、产、学、研、资、用"顶尖创新要素，深入推动智能机器人产业高质量发展。 具身智能是人工智能和机器人技术结合的新领域，已成为全球科技竞争的关键方向。本次大会集展、 会、赛于一体。展区打破传统展会的单一呈现模式，构建"技术+场景+体验"的复合型展示空间，汇聚 整机、零部件、软件算法等产业链企业。南京大学、苏州大学、苏州工学院等院校及三大运营商集中亮 相，展出多项智能机器人前沿研发应用成果。 会上，央企智能机器人场景应用"揭榜对接"、国家智能养老服务机器人结对攻关与场景应用试点、高校 赋能智能机器人产业协同创新倡议相继发布。现场还举行了智能机器人专业特色产业园"1+6"发展体 系、智能机器人7S（常熟）体验中 ...

近日，优必选一段展示人形机器人Walker S2集结、开启量产交付的视频在海外社交媒体引发争议，并 被质疑为电脑特效（CG）制作。 11月18日，针对此事，优必选方面回应南都湾财社记者称，该说法完全失实，视频画面完全是现场真实 拍摄。 优必选方面表示，目前优必选官方视频号已针对此不实说法发布了一镜到底、原速原声的视频素材，体 现了现场的真实情况。 机器人集结交付视频遭质疑 事件源于优必选在11月12日发布的一则视频。视频中，优必选工业人形机器人Walker S2以方阵形式列 队行进，并展示了机器人方阵自主换电等能力。 这一画面随后引来了美国人形机器人初创公司Figure创始人Brett Adcock的关注。他在社交平台X上发 文，通过分析视频中机器人的"倒影"等细节，质疑该视频"大概率是电脑特效（CG）"，并称"前面的机 器人是真的，后面的一切都是假的"。 Brett Adcock @ ! @adcock brett 关注 Look at the reflections on this bot, then compare them to the ones behind it. The bot in front ...

Core Insights - The article discusses the limitations of current robot foundational models that primarily rely on demonstration data, highlighting the need for a structured reinforcement learning (RL) framework called Recap to enhance robot performance and reliability [2][3][10]. Group 1: Limitations of Current Models - Current models depend heavily on demonstration data, which incurs high human costs and limits the strategies to human-level performance, lacking self-improvement capabilities [2][10]. - The article emphasizes that merely increasing model size is insufficient; a restructured training paradigm is essential for robots to transition from "can demonstrate" to "can deploy at scale" [3][10]. Group 2: Introduction of Recap Framework - Recap integrates three training phases: demonstration, correction, and robot autonomous rollouts, allowing for continuous improvement in strategy quality [2][10]. - The framework addresses the compounding error problem in robot strategies by systematically utilizing correction data, value functions, and advantages [3][10][12]. Group 3: Performance of π*(0.6) Model - The π*(0.6) model, with 5 billion parameters, demonstrates the ability to handle heterogeneous prompts and achieve performance thresholds suitable for commercial deployment [3][20]. - The model shows significant improvements in task execution, achieving over 90% success rates in complex tasks such as making espresso, folding clothes, and assembling boxes [25][20]. Group 4: Learning Process and Challenges - The learning process involves three stages: offline reinforcement learning pre-training, task-specific fine-tuning, and continuous improvement through real-world experience [19][20]. - The article outlines the challenges faced in high-throughput, autonomous execution, particularly in tasks requiring complex physical operations and adaptability to various conditions [24][20]. Group 5: Data Sources for Learning - The article identifies three data sources for robot learning: expert demonstrations for defining new behaviors, guidance for refining strategies, and autonomous experience for behavior enhancement [27][28]. - It posits that autonomous experience may become a crucial data source as robots are deployed more widely in real-world applications, potentially enabling performance that surpasses human capabilities [27][28].

Core Viewpoint - The "2025 Baoshan Intelligent Robot Industry Conference and Carnival" will take place on November 21-22, 2025, featuring industry forums, startup roadshows, exhibitions, and interactive experiences to showcase advancements in the intelligent robotics sector [1][4]. Group 1: Event Overview - The opening ceremony will unveil Baoshan District's three-year action plan for robotics and a series of industrial service platforms, marking a new chapter for the intelligent robotics industry [4]. - The event will include four major forums covering the entire industry chain, focusing on top-level design, cutting-edge technology, core components, and innovation ecosystems [4]. Group 2: Startup Roadshow - The second afternoon will feature a roadshow showcasing multiple cutting-edge robotics startup projects, including core areas such as robotics body, simulation technology, machine vision, and core components [6]. - Leading investment institutions will be invited to the roadshow, facilitating connections between quality startup projects and potential partners for industry implementation [6]. Group 3: Exhibition Highlights - The exhibition will gather nearly 30 top industry companies, showcasing a variety of robots and core components, from humanoid robots to industrial robots and various sensors [8]. - Attendees will experience the latest achievements and strengths of China's intelligent robotics technology, emphasizing the power of "Made in China" [8]. Group 4: Interactive Experiences - The event will feature engaging activities, including performances by robots, interactive Q&A sessions, and artistic demonstrations by AI, allowing attendees to experience the charm of technology firsthand [10]. - Unique experiences such as robot combat competitions and personalized coffee brewing by intelligent baristas will be part of the immersive experience [10].

Core Viewpoint - The article discusses the advancements and applications of robotics technology, emphasizing the integration of AI models like DeepSeek in high-end equipment manufacturing, and highlights various innovative robotic designs and control methods across different sectors [5][12][18]. Group 1: AI and Robotics Integration - The development and advantages of the DeepSeek AI model are summarized, focusing on its applications in manufacturing, research, and production processes [5]. - The article proposes scenarios for the application of "AI + Robotics" in high-end equipment manufacturing, analyzing the opportunities and challenges presented by AI models [5]. Group 2: Robotic Design and Control Innovations - A study on a high-speed rail bridge inspection robot is presented, detailing the dynamic analysis and stability assessments of its hydraulic systems, concluding that the robot is stable during operation [6]. - A method for controlling the anti-sway torque of cleaning robots is introduced, which significantly reduces control errors and improves operational balance [8]. - The design and kinematic simulation of a wheeled-legged robot are discussed, showcasing its stability and performance through advanced modeling techniques [10]. - Research on a robotic arm for aluminum sample transfer highlights the use of YOLOv11 for precise movement control, achieving over 99% accuracy in operations [12]. - A dual-arm collaborative control strategy is proposed, utilizing low-cost exoskeleton systems for enhanced autonomous operation of dual-arm robots [14]. Group 3: Specialized Robotic Applications - The design of a prostate particle implantation robot guided by ultrasound images is described, demonstrating successful implantation capabilities through experimental validation [16]. - An optimization study on cycloidal pinwheel drive mechanisms is conducted, focusing on the reliability of critical components and providing insights for future designs [17]. - A soft-bodied snow-clearing robot inspired by snail biomechanics is introduced, showing advantages in efficiency and safety for snow removal in delicate environments [18]. - A simulation analysis of a negative pressure system for preventing material blockage in pneumatic conveying systems is presented, offering a simple and effective solution for engineering applications [19].

Summary of Conference Call on Humanoid Robotics Industry Industry Overview - The conference focused on the humanoid robotics sector within the China Industrials industry, highlighting the current state and future expectations for humanoid robots and related technologies [1][3][9]. Key Companies Discussed - **Fortior (1304.HK)** - **Paxini (Private)** - **Zhaowei (003021.SZ)** - **UBTECH (9880.HK)** - **TC Drive (Private)** - **Youibot (Private)** [3] Core Insights and Arguments Adoption and Market Growth - UBTECH has delivered approximately 200 humanoid robots year-to-date (YTD) and anticipates reaching around 500 units and approximately Rmb400 million in revenue for the full year 2025, with expectations of 2,000 to 3,000 units in 2026 [4][18]. - Paxini predicts the industry volume of humanoids with working capabilities will reach 10,000 units in 2026 [4]. - Zhaowei expects its revenue from humanoid-related products to quadruple to around Rmb100 million in 2026 from Rmb20-30 million in 2025 [14]. - TC Drive anticipates its humanoid-related revenue to double next year [27]. Importance of Use Case Verification - User feedback is deemed crucial for growth in 2026, with companies like TC Drive and Youibot emphasizing the need for real-world application testing to validate humanoid robots' effectiveness [5][30]. - Specialized robots are seen as more efficient and cost-effective for industrial applications, with humanoids serving as supplemental solutions [5][30]. Technological Developments - Fortior is developing a coreless motor joint venture and rotary transformer technology, indicating ongoing innovation in humanoid components [12]. - Zhaowei is exploring various dexterous hand technologies, noting that no single optimal solution exists yet [15]. - UBTECH is set to unveil a new humanoid model equipped with the Nvidia Thor chip in 1H26, aiming to enhance performance [18][20]. Challenges and Limitations - Despite improvements in humanoid robots' working capabilities, efficiency remains significantly lower than human labor, currently at about 30% of human efficiency, with a target to improve to 60% next year [19]. - The humanoid robotics industry is still in its early stages, with many technologies not yet fully developed or settled [12][9]. Additional Important Insights - The supply chain is experimenting with new technologies, such as rotary transformers and aluminum components, but practical applications remain uncertain [9]. - Real data collection is critical for training humanoid robots, with companies like Paxini investing in data collection facilities to gather high-quality data for machine learning [23][25]. - The market outlook for humanoid robotics remains optimistic, with various companies setting ambitious targets for 2026 despite the current limitations in humanoid capabilities [9]. Conclusion - The humanoid robotics industry is poised for growth, driven by technological advancements and increasing adoption in various sectors. However, challenges related to efficiency, technology development, and real-world application validation must be addressed to realize the full potential of humanoid robots in the market [1][9].

Core Viewpoint - The price of humanoid robots has significantly decreased, making them more accessible to consumers, with some models now priced similarly to smartphones, indicating a revolution in "Chinese manufacturing" [3][5]. Group 1: Price Trends - Several new humanoid robots from Chinese companies are now priced at around 29,900 yuan (approximately 4,200 USD), with some models like "Little Bumi" priced as low as 9,998 yuan (approximately 1,400 USD) [3][5]. - The evolution of robot pricing has shifted from the cost of a house to that of a car, and now to that of a smartphone, reflecting a broader trend in affordability [3][5]. Group 2: Application Scenarios - Humanoid robots are currently being deployed in various settings, starting from industrial applications to commercial and eventually household scenarios, with initial implementations in nursing homes, scenic spots, and hotels [3][5]. - The current capabilities of domestic robots are limited to simpler tasks, with ongoing improvements needed in autonomous decision-making, environmental perception, and human-robot interaction [3][5]. Group 3: Future Prospects - The integration of humanoid robots into family settings is expected to occur in two phases: first focusing on companionship, followed by service functionalities [7]. - Companies are optimistic about the gradual introduction of household robots over the next 3 to 5 years, particularly in specific tasks like cleaning and laundry, emphasizing the need for cost reduction through mass production [7][11]. Group 4: Industry Innovations - Companies are exploring various paths in the household robot sector, with Haier developing laundry robots and Shenzhen Woan focusing on modular robots for specific tasks [11]. - The introduction of general-purpose robotic models is enhancing robots' learning capabilities, allowing them to adapt to new tasks and skills more efficiently [9]. Group 5: Cost Challenges - The high development costs of service robots, combined with limited production scales, have kept prices in the tens of thousands of yuan range, which restricts access for average households [13]. - However, the entry of new companies and improvements in product quality are leading to a significant reduction in costs, marking the beginning of a mass production era for service robots [13].

Core Viewpoint - The company, Yunji (02670), has submitted an application to the China Securities Regulatory Commission (CSRC) on November 18, 2025, to convert all of its unlisted domestic shares into H-shares, aiming for a listing on the main board of the Hong Kong Stock Exchange [1] Group 1: Application Details - The application for conversion and listing does not require a separate shareholders' meeting for approval according to the company's articles of association [1] - The conversion will occur after obtaining all necessary approvals from the CSRC and the Hong Kong Stock Exchange, as well as complying with applicable laws and regulations [1] Group 2: Company Benefits - The company believes that participating in H-share full circulation will have positive implications for both the company and its shareholders [1] - Post-conversion and listing, the proportion and market value of tradable H-shares will increase, leading to a more diversified shareholder structure [1] - The company's corporate image and reputation are expected to benefit from the conversion and listing process [1] Group 3: Future Opportunities - After the conversion and listing, the company may be included in the Stock Connect programs (Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect), which will expand its investor base [1] - Strengthening connectivity with mainland Chinese exchanges is anticipated to attract more domestic and international investors [1]

Market Overview - Global markets are experiencing significant volatility, with both risk assets and safe-haven assets declining simultaneously [1][8] - On November 17, major stock markets in Europe and the US closed lower, followed by a decline in Asia-Pacific indices on November 18, with Japan's Nikkei 225 index dropping 3.22%, the largest single-day decline since April [1][3] A-share Market - The three major A-share indices opened lower and closed down, with the Shanghai Composite Index falling by 0.81%, the Shenzhen Component Index down 0.92%, and the ChiNext Index down 1.16% [3] - The total trading volume in the Shanghai and Shenzhen markets reached 1.93 trillion yuan, an increase of 153 billion yuan compared to the previous trading day, with over 4,100 stocks declining [3] Sector Performance - AI application concepts saw gains, with stocks like Rongji Software and Inspur Software experiencing consecutive increases [3] - Semiconductor stocks were active, with companies like Shenghui Integrated and Longxun shares hitting the daily limit [3] - Conversely, sectors such as batteries, coal, and steel faced significant declines, with the Fujian sector experiencing heavy losses [3] International Markets - The Hang Seng Index fell by 1.78%, with notable declines in tech stocks such as Xpeng Motors and Lenovo [3] - International oil prices also dropped, with WTI crude oil down 0.84% and Brent crude oil down 0.76% [4] Cryptocurrency Market - Bitcoin fell below $90,000, with Ethereum dropping over 6% and Dogecoin down over 4%, leading to significant liquidations in the market [5][6] - In the past 24 hours, over 183,000 traders were liquidated, with total liquidation amounts reaching $1.015 billion [7] Economic Indicators - Analysts suggest that the current market conditions are influenced by expectations regarding the Federal Reserve's interest rate policies and rising Japanese government bond yields, which could impact global liquidity [8] - Morgan Stanley predicts that China's stock market may continue to rise through 2026, with corporate profits expected to grow by 6% next year [9][10] Investment Strategies - Major brokerages are focusing on three main investment themes for A-shares: technology growth, Chinese companies going global, and cyclical resource products [12] - CITIC Securities emphasizes the importance of Chinese companies' global expansion as a key investment strategy, while CICC highlights opportunities in AI technology and related sectors [12]

近日，优必选发布工业人形机器人Walker S2量产交付视频，Figure创始人逐帧分析后在X平台称视频大 概率是电脑特效。对此，优必选回应称，该指控不实，优必选官方社媒后续已经发布了一镜到底原速原 声的视频，画面显示现场确实有大批人形机器人产品。此外，优必选首批数百台全尺寸工业人形机器人 Walker S2正式开启量产交付，将分批投入产业一线应用。(科创板日报) ...