周末约了老伙计老王在巷口茶馆喝茶，他一坐下就开始念叨最近的新鲜事儿：说具身智能行业热闹得很，星海图、众擎机器人刚完 成股改，魔法原子也在加速上市进程，整个行业都在往资本市场靠。可说着说着他就叹气，想起2025年自己踩的坑：当时半年报出 来，公交板块业绩增速最快，他赶紧把钱投进去，结果后面俩月表现平平，反而全行业还在亏损的光伏走势亮眼，让他摸不着头 脑。其实不止老王，咱们好多人选个股，总盯着热点、业绩、价格这三样，可实际用起来才发现，这些都只是表象，真正能看透市 场本质的，得靠实打实的量化大数据。 一、老伙计的前车之鉴：业绩真的靠不住？ 老王那段时间天天抱着财报翻，就认准"业绩好=靠谱"的理儿，结果现实给了他狠狠一击。后来他才慢慢明白，很多时候业绩只是 表面文章，真正影响市场走向的，是参与交易的机构大资金的活跃程度。就拿他之前关注过的一只个股来说，股价反复震荡，几次 调整后都有亮眼的拉升，他以为稳了赶紧跟进，结果进去就被套牢。 看图1： 后来用量化大数据一看才懂，K线下方的橙色柱体是「机构库存」数据，专门反映机构大资金有没有积极参与交易。震荡过程中这 些橙色柱体慢慢消失，说明机构参与的意愿越来越弱，那些亮眼的拉 ...

Core Viewpoint - The competition for CFOs in the embodied intelligence sector has intensified, with companies offering salaries as high as 30 million yuan to attract talent, reflecting a deep understanding of financial management despite their current lack of profitability [3][6]. Group 1: CFO's Role and Industry Dynamics - Traditionally, CFOs are seen as "tool people" focused on facilitating IPOs, but the evolving landscape requires them to possess a broader skill set, including business acumen and strategic insight [5][6]. - The financing environment for the embodied intelligence industry is becoming increasingly challenging, with a trend towards capital concentration where the top 10 companies account for about 40% of total financing [6][7]. - The industry's reliance on external financing is critical for survival, making the role of CFO pivotal in navigating these financial challenges [6][7]. Group 2: Recruitment Challenges and Market Trends - The high salaries for CFO positions are driven by a scarcity of qualified candidates, with only companies generating over 1 billion yuan in annual revenue or holding substantial cash reserves able to justify such budgets [9][10]. - The recruitment process for high-level executives is lengthy and complex, often taking six months to a year, as it requires a deep understanding of both the company’s needs and the candidates' capabilities [9][10]. - Founders often struggle to articulate their needs for executive roles, complicating the recruitment process and leading to a reliance on headhunters who must navigate these uncertainties [10][11]. Group 3: Shifts in Recruitment Focus - The demand for talent in the startup sector, particularly in the embodied intelligence field, is surging, with many companies experiencing rapid team expansions [13][15]. - Headhunters are increasingly shifting their focus from traditional VC/PE markets to startups, driven by clear recruitment needs and budget availability [14][15]. - Despite the challenges in finding candidates for high-salary positions, the overall recruitment landscape in startups is seen as more promising compared to traditional financial markets [16].

Core Viewpoint - The establishment of a national-level merger and acquisition (M&A) fund is expected to drive China's industrial integration into a "strategic-led" new phase, shifting the core logic from spontaneous market integration to a dual-driven approach of national strategy and market efficiency [3][4]. Group 1: Characteristics of the National-Level M&A Fund - The national-level M&A fund will have six key characteristics: clearer strategic orientation, optimized resource allocation, more flexible investment methods, stronger risk control, enhanced innovation drive, and promotion of industry advantages [4][5]. - It will focus on critical areas such as key core technology breakthroughs, supply chain security, and the development of strategic emerging industries, thereby enhancing the overall competitiveness of the national industry [4][5]. Group 2: Collaboration with Regional Funds - The national-level M&A fund will work in conjunction with regional funds in areas like Beijing-Tianjin-Hebei, the Yangtze River Delta, and the Greater Bay Area, creating a synergistic system that promotes high-quality development [6][7]. - It will facilitate the flow of technology, talent, and capital across regions, forming a "research-development-transformation-industry" cross-regional chain [7]. Group 3: Investment Focus Areas - The fund will prioritize investments in three main dimensions: traditional pillar industries (e.g., steel, non-ferrous metals, construction materials), emerging technology industries (e.g., integrated circuits, renewable energy), and future industries (e.g., quantum computing, brain-machine interfaces) [8][9]. - Companies that align with these investment areas should possess digital transformation capabilities, core technologies, and clear equity structures to attract early-stage investment or acquisition [9]. Group 4: Avoiding Internal Competition - To prevent "involution" competition between the national-level M&A fund and local industry funds, it is crucial to strengthen top-level design, improve coordination mechanisms, and clarify functional positioning [10][11]. - Establishing a multi-level, complementary fund ecosystem will maximize capital aggregation and effectively support the construction of a modern industrial system [12].

Group 1 - The core focus of Tianjin is to leverage its rich scientific and educational resources to promote the integration of technological innovation and industrial innovation, accelerating the transition of innovative results from laboratories to production lines [1] - In the Tianjin High Education Science and Technology Innovation Park, Nankai University and Tianjin University have introduced 30 projects ready for transformation, collaborating with leading industry enterprises [3] - During the "14th Five-Year Plan" period, Tianjin established 49 innovation alliances, with the number of national high-tech enterprises and national technology-based small and medium-sized enterprises exceeding 12,000, and 8 industries reaching a scale of over 100 billion [5] Group 2 - In the "15th Five-Year Plan" period, Tianjin aims to jointly build the "Beijing (Jing-Jin-Ji) International Science and Technology Innovation Center," focusing on industries such as biomanufacturing, brain-computer interfaces, and embodied intelligence [7] - The city plans to establish a regular mechanism for screening major original achievements and enhance measures for the transformation of scientific and technological results, increasing the construction of platforms for industry-academia-research collaboration and innovation alliances [7]

"2025年，园区规上工业总产值达522.5亿元，位列全市重点园区前列。'四大行动'落地见效，企业智改数转成果丰硕，多家企业新晋国家级单项冠军、专 精特新'小巨人'；招商引资成绩亮眼，75个签约项目总投资达150亿元，项目建设与研产贯通工作齐头并进。"智能制造产业发展党工委书记、管办主任徐 韬在致辞中表示。 新的一年，智能制造产业园将聚焦"6+2"产业赛道，持续优化营商环境、培育创新生态，打造宜居宜产的产业新城，与园区企业携手推动园区高质量发展 迈上新台阶。 1月29日下午，南京江北新区智能制造产业园企业家交流会在智城大厦拉开帷幕。新区相关单位、各街道及派出所负责同志，园区重点企业主要负责人与 智能制造办全体人员齐聚一堂，以经验分享、产品交流为核心，共商产业发展新路径，共绘合作共赢新蓝图。 智能制造重点产业赛道发布 活动开启前，参会嘉宾率先走进大厦一楼、三楼展区参观交流，沉浸式的产业成果展示瞬间吸引众人目光，不少嘉宾刚入现场就被MG4车型牢牢吸引， 纷纷驻足观摩、交流探讨。展区内，苏美达（600710）五金的割草机器人尽显智能智造魅力，聚隆复材的V1000倾转旋翼混动飞行器机体结构更是成为焦 点，工作人员全程 ...

以下文章来源于硬氪 ，作者乔钰杰 行业仍存在广阔的人工替代空间。 文 ｜ 乔钰杰 编辑 ｜ 袁斯来 来源｜ 硬氪（ID：south_36kr） 封面来源 ｜ 企业供图 硬氪获悉，上海希夕智能科技有限责任公司（SUNSEED，以下简称"希夕智能"）近日完成数千万元天使轮融资。本轮融资领投方为宁波北仑商贸物流投资 集团，跟投方为荣成荣鑫基金和盛景嘉成。我们总结了本轮融资信息和该公司几大亮点： 融资金额及投资机构 硬氪 . 专注全球化、硬科技报道。36kr旗下官方账号。 融资轮次： 天使轮 融资金额： 数千万元 投资机构： 宁波北仑商贸物流投资集团领投，荣成荣鑫基金和盛景嘉成跟投 资金用途： 研发投入、产品迭代与业务推广 公司基本信息 成立时间： 2022年 公司总部： 上海市闵行区 技术亮点： 希夕智能由新希望智能设备制造有限公司、通用智能机器人头部独角兽企业非夕科技，以及初创合伙人团队联合创立。 希夕智能专注于将AI与柔性机器人技术结合，面向切割、加工、内包等食品生产环节，提供专业灵活的全栈式柔性食品加工解决方案。公司核心产品通用食 品加工单站，通过AI视觉系统识别与建模来料，结合智能决策系统推理生成个性化加工 ...

以下文章来源于晚点AI ，作者晚点团队 晚点AI . 关注人工智能的一切，一切都关于人工智能。 不做 VLA；不做遥操，以可穿戴设备采真实数据。 文 丨 程曼祺 编辑 丨 宋玮 2024 年 11 月，《晚点 LatePost》曾独家报道，华为车 BU 前首席科学家陈亦伦投身具身智能创业。 不久后，它石智航浮出水面——由陈亦伦和百度前自动驾驶事业部负责人李震宇等联合创立；成立不 足半年，它石先后完成 1.2 亿美元和 1.22 亿美元的天使轮与天使 + 轮融资，创下中国具身智能领域天 使轮融资纪录，投资方包括蓝驰、美团、启明、线性、高瓴、联想创投等。 陈亦伦获得了很多支持，在技术思考上却 "离经叛道"。用一种平时的口吻，陈亦伦分享了很多反主流 的判断。 Google RT-2 开启的 VLA（视觉-语言-动作）模型，是当前具身模型的主流架构。而它石则开发了 AWE（AI World Engine）： 我们追求表达时间、空间、力和环境交互等物理量和 "世界信息"，而不是 VLA 那样的 "视网膜信息"。 VLA 的主流做法是从 LLM（大语言模型）得到 VLM（视觉-语言模型），再在 VLM 基础上训 VLA。 ...

七载耕耘铸辉煌，科创潮涌启新篇。2026年，科创板迎来正式开市七周年，作为培育新质生产力、推动科技自立自强的核心阵地，板块已汇聚超600家上市 公司，总市值超10万亿元，IPO和再融资募集资金合计超1.1万亿元，形成了含"新"量高、含"科"量高、含"金"量高、制度包容性强的"三高一强"鲜明特征， 为我国前沿科技产业发展注入强劲动能。值此"十五五"开局、科创产业加速迭代之际，金融界重磅推出"科创汇"主题策划，联动头部券商、行业协会及权威 媒体等，搭建科创资源对接桥梁，助力破解产业发展痛点，推动形成"科技—产业—资本"的良性循环。 本次"科创汇"策划将聚焦五大前沿科创领域，兼顾产业链完整性与技术创新性，实现精准布局与深度调研。在具身智能领域，重点关注核心技术突破、量产 交付与供应链协同，聚焦工业、物流等B端场景的实际应用成效，助力企业抢占商业化先机；在芯片领域，覆盖GPU、ASIC、可重构等核心芯片品类，锚定 国产替代进程中的技术攻坚方向，跟踪行业研发投入与产业化落地成果，助力实现算力提升与自主可控目标；在大模型领域，紧盯通用大模型与行业大模型 的研发迭代，深挖其在工业制造、医疗健康、城市治理等领域的商业化价值， ...

Core Insights - The article presents a roadmap for China's technological advancement, highlighting the rapid transformation in various sectors such as quantum computing, brain-machine interfaces, embodied intelligence, and low-altitude economy [5] Group 1: Overview of the Ranking - The "Touzhong List: Sharp Company Ranking" identifies 100 innovative and high-potential companies across sectors like semiconductors, embodied intelligence, artificial intelligence, low-altitude economy, commercial aerospace, new energy, and healthcare [3] - Over half of the listed companies are in the B round or earlier financing stages, with notable examples like Jike Technology and Zhiren Medical, which have gained capital interest due to their technological barriers and practical applications [3] Group 2: Regional Distribution - Beijing, Shanghai, and Shenzhen lead with 32, 16, and 16 companies respectively, accounting for 64% of the total listed companies, up from 57% [4] - Beijing has seen a significant increase in AI and embodied intelligence companies, doubling its number of listed firms due to resource concentration in Zhongguancun Science City and Yizhuang Industrial Park [4] - Other cities, including Hangzhou, Guangzhou, Hefei, and Huzhou, also contributed to the list, indicating a nationwide spread of innovation activities [4] Group 3: Characteristics of Listed Companies - A notable feature of this year's list is the inclusion of several future industry companies in cutting-edge fields such as embodied intelligence, brain-machine interfaces, and synthetic biology [4] - These companies are moving beyond mere technological validation to accelerate industrialization through a dual approach of "technology + application scenarios" [4]

"具身智能作为'十五五'国家未来产业战略重点，正迎来高速发展期。" 近日，《中国经营报》记者获悉，广东省政协委员，广州工控集团党委书记、董事长景广军提交了建立 核心技术研发转化新范式，培育广东具身智能装备产业新高地相关提案。 2026年广东省政府工作报告指出，在2026年工作安排中，加快新兴产业发展壮大和未来产业成形成势， 大力发展第六代移动通信、具身智能、细胞与基因治疗、脑科学与脑机接口、氢能及先进核能、深海探 测、量子科技等重点细分产业。 景广军表示，要加快实现创新链、产业链、资金链、人才链的深度融合，全面推动广东具身智能产业高 质量发展。"广东在人工智能、半导体、新材料及高端装备等领域产业基础雄厚，拥有庞大的制造业应 用场景和全国领先的创新生态，为具身智能产业发展提供了得天独厚的条件。" 产业发展仍面临挑战 此外，具身智能产业的关键核心技术存在"瓶颈"。"技术体系整体处于探索阶段，企业技术路线呈现碎 片化，缺乏统一定义性能基线、安全响应阈值等行业标准。"景广军表示，在硬件层面，"感算控"一体 化芯片、高精度传感器、灵巧手及高性能关节模组等核心部件尚存不足；在软件与系统层面，面临算法 泛化能力弱、实时感知 ...