多伦科技 20250813 摘要 多伦科技通过参股众擎机器人，切入人形机器人领域，旨在结合自身在 大交通领域的技术积累，进行二次开发，应用于车辆检验、车管所导服 导办及道路指挥等场景。 多伦科技已成立协同创新中心和联合研发实验室，配备约 40 人的创新 团队，专注于人形机器人相关的新算法、SLAM 及感知技术研究，加速 产品研发和市场应用。 多伦科技计划在 2025 年底前完成检验机器人样机并投入市场，同时完 成导办机器人和路面指挥交通机器人的二次开发，进行场景落地验证， 提升交通管理效率。 多伦科技与众擎机器人在运动控制和姿态控制方面进行技术合作，共同 推进导办机器人和路面指挥交通机器人的应用落地，并探索制定相关行 业标准。 多伦科技计划将检车机器人的应用扩展至二手车交易检测机构和强制车 辆检测站等封闭商业场景，并承接咖啡机器人等整机组装业务，提升产 能利用率。 Q&A 多伦科技参股众擎机器人的契机是什么？公司在机器人业务发展的计划是怎样 的？ 多伦科技参股众擎机器人主要基于以下契机：多伦科技一直专注于公安、交管 和交通领域的业务。2025 年，公司与公安部委的一些科研机构合作，开发了 适用于机动车检验场景 ...

| | 融资历程 6 | | 退出方信息 o | 核心人员 1 | 上榜榜单 o | | 相关竞品 20 | | --- | --- | --- | --- | --- | --- | --- | --- | | 序号 | 融资日期 | 融资轮次 | 融资金额 | 投资方 | | 关联机构 | 来源 | | 1 | 2025-08-05 | A+轮 | 数亿元 | 金浦投资 领投 | | 金浦投资 | 相关新闻 | | | | | | 中金资本 | | 中金资本 | | | | | | | 优山资本 | | 优山资本 | | | | | | | 北汽产投 | | 北汽产投 | | | | | | | 草原创 | | 卓源亚洲 | | | | | | | 品科能源 | | 間科能源 | | | | | | | 营汇资本 | | 晋汇资本 | | | | | | | 元智未来 | | | | | | | | | 上海彬复卿云创业投资合伙企业(有限合伙) 领投 | | 彬复资本 | | | 2 | 2025-02-25 | A+轮 | 超亿元 | 无锡彬复惠新永赢创业投资合伙企业(有限合伙) 领投 | | 彬复资本 ...

Core Viewpoint - The article highlights the recent financing success of Shenzhen Zhongqing Robot Technology Co., Ltd. (Zhongqing Robot), which completed nearly 1 billion yuan in new funding, indicating strong investor interest in humanoid robotics and the potential for significant growth in this sector [1][4]. Financing Overview - Zhongqing Robot completed Pre-A++ and A1 rounds of financing, totaling nearly 1 billion yuan, with notable investors including Xiaopeng Motors and JD.com [1][2]. - The company has raised funds in five rounds since its establishment, with the last round occurring in April 2025, where it raised approximately 200 million yuan [2]. - The company aims to achieve a valuation of 10 billion USD by the end of 2025, although the current valuation remains undisclosed [1]. Industry Context - The investment in Zhongqing Robot marks Xiaopeng Motors' first foray into the humanoid robotics sector, alongside other major players like JD.com and CATL [4]. - The article notes a trend of major technology companies entering the humanoid robotics space through both self-research and investment strategies, with several companies making their investment debuts in 2025 [4]. Company Background - Zhongqing Robot was founded in October 2023, focusing on developing versatile humanoid robots and applications, with a team largely composed of former employees from Xiaopeng's robotics division [5][10]. - The company is recognized for its advanced capabilities in developing high-performance robotic joints and has established partnerships with leading industry players like NVIDIA and Amazon [15][13]. Product Development and Market Strategy - Zhongqing Robot plans to accelerate its development pace following the recent funding, aiming to scale up production and delivery capabilities by five times [15]. - The company is focusing on commercial applications across various sectors, including service, hazardous operations, and entertainment, to drive the adoption of humanoid robots [15]. Competitive Landscape - The article discusses the division within the humanoid robotics sector between "hardware-focused" companies like Zhongqing Robot and "software-focused" companies, highlighting the different commercialization strategies and market challenges faced by each [16][18]. - The current market dynamics suggest a competitive environment where companies must balance technological innovation with effective commercialization strategies to sustain growth [17][18].

Core Insights - Guangdong is leading in technological innovation and industrial transformation, with a focus on integrating technology and industry to drive economic growth [1][5][13] - The province's R&D investment is projected to exceed 510 billion yuan in 2024, maintaining its position as the top region for R&D funding in China for eight consecutive years [1][5] - The establishment of nine trillion-yuan industrial clusters and the emergence of advanced manufacturing sectors highlight Guangdong's robust industrial ecosystem [5][13] Industry and Technology Synergy - Companies like Shenghong Technology have adopted smart manufacturing practices, achieving significant resource savings and high productivity [2][8] - The shift from "single-point breakthroughs" to "systematic reconstruction" is evident in various sectors, emphasizing the need for technological innovation to reshape industry fundamentals [2][4] Innovation and Market Transformation - The development of autonomous vehicles and advanced robotics is a key focus, with companies like Xiaoma Zhixing and EK Lighting leading the charge in their respective fields [4][10] - The integration of innovative technologies into traditional industries is creating new pathways for growth and international expansion [4][10] Ecosystem for Results Transformation - The establishment of supportive environments for startups, such as XbotPark, is fostering innovation and increasing survival rates for new enterprises [6][10] - Government initiatives are facilitating collaboration between various sectors, enhancing the overall innovation landscape [10][11] Talent Attraction and Retention - Companies in Guangdong are implementing attractive talent strategies, including substantial financial incentives and supportive work environments, to draw skilled professionals [14][16] - The region's strategic location and efficient supply chain networks are enhancing its appeal as a hub for technological development [16][17]

Core Insights - Shenzhen is developing a "Robot Valley," which is becoming a hub for the robotics industry, featuring numerous listed companies and leading enterprises in various segments, along with nearly 10 universities [1][3]. Industry Overview - The "Robot Valley" is located between Yantai Mountain and Tanglang Mountain, along Liuxian Avenue, showcasing a vibrant ecosystem for the robotics industry [1]. - Shenzhen has established a comprehensive industrial chain in robotics, covering core components, industrial robots, service robots, and humanoid robots, with domestic leading companies in each area [3][5]. Company Highlights - Aobi Zhongguang Technology Group, a star enterprise from Shenzhen's "Robot Valley," has become the "first stock of 3D vision" on the Sci-Tech Innovation Board, providing one-stop products and services for over 1,000 clients and developers [3]. - Aobi Zhongguang's visual perception technology holds over 70% market share in China's service robot market, indicating significant growth potential in the coming years [3]. - Shenzhen Zhongsing Robot Technology Co., Ltd. launched the humanoid robot PM01, which has received hundreds of orders, primarily for research and education [5]. Market Potential - The robotics industry is projected to grow into a multi-trillion-dollar sector over the next 20 years, integrating into various fields such as agriculture, industry, and logistics [3]. - Shenzhen's intelligent robot industry cluster is expected to achieve an added value of 5.348 billion RMB in 2024, reflecting an 11.2% year-on-year growth [6]. Future Goals - By 2027, Shenzhen aims to establish 1,200 enterprises related to intelligent robots and create 50 billion-level application scenarios, targeting a trillion-yuan industry scale [6].

Core Viewpoint - The article discusses the rise and subsequent challenges faced by Yushu Technology, a leading humanoid robotics company in China, highlighting the impact of public perception and market dynamics on its growth and reputation [1][12][19]. Summary by Sections Company Overview - Yushu Technology gained significant attention after its humanoid robots performed at the Spring Festival Gala, leading to a surge in popularity and market interest [9][10]. - The company was initially celebrated as a potential leader in the humanoid robotics sector, likened to DJI in the drone industry [1]. Public Perception and Criticism - CEO Wang Xingxing's ambitious statements about the capabilities of humanoid robots sparked widespread ridicule, leading to a trust crisis for the company [2][12]. - Following a poorly received performance in a humanoid robot half-marathon, Yushu Technology faced backlash, with many questioning the practicality of its robots [12][15]. Market Dynamics - The company has seen fluctuations in its stock and market interest, with a notable rise in valuation and attention from investors following its initial success [10][22]. - Despite the initial hype, the company is now experiencing a "flow backlash," as the reality of its robots' capabilities does not meet public expectations set by promotional videos [12][19]. Financial Performance - Yushu Technology has maintained profitability, with projected revenues of approximately 2 billion yuan in 2023 and 4 billion yuan in 2024, alongside net profits ranging from 10 million to 70 million yuan [19][20]. - The company has secured numerous project bids, indicating a strong market presence despite recent challenges [20]. Competitive Landscape - Other humanoid robotics companies, such as Songyan Power, have emerged as competitors, capitalizing on Yushu Technology's missteps to gain market share and investor interest [15][17]. - The article highlights a trend where companies focusing on performance and spectacle are gaining traction, but questions the sustainability of such a strategy in the long term [12][19]. Future Outlook - The industry is at a crossroads, with companies needing to balance technological advancements with practical applications to ensure long-term viability [21][22]. - The article suggests that while the humanoid robotics sector has significant potential, the path to commercialization remains fraught with challenges, particularly in achieving meaningful technological breakthroughs [22][23].

Core Viewpoint - The article discusses the recent developments and challenges faced by Yushu Technology, a leading humanoid robot company in China, highlighting the disparity between impressive demonstrations and actual commercial viability [1][10][14]. Group 1: Company Developments - Yushu Technology's humanoid robots gained significant attention after their performance at the Spring Festival Gala in 2025, showcasing their advanced movement capabilities [3]. - The company has faced backlash following founder Wang Xingxing's controversial statements about the potential of humanoid robots, which were met with skepticism from the public and media [1][11]. - Despite initial success, Yushu Technology is experiencing a backlash as real-world evaluations of their robots reveal limitations, leading to a decline in public perception [11][14]. Group 2: Market Dynamics - The humanoid robot market is characterized by a "show-off" cycle, where companies focus on impressive demonstrations rather than practical applications, leading to a temporary surge in interest but potential long-term sustainability issues [10][14]. - Yushu Technology and other similar companies have seen a spike in demand for robot rentals, with rental prices significantly exceeding purchase prices, indicating a strong market interest [10][11]. - The capital market has shown enthusiasm for Yushu Technology, with original shares becoming scarce and stock prices of related companies rising sharply [8][10]. Group 3: Industry Challenges - The article highlights a fundamental issue in the humanoid robot industry: the gap between technical capabilities and actual market needs, with many robots being unable to perform meaningful tasks despite their impressive physical abilities [17][14]. - The focus on entertainment and demonstration rather than practical applications has led to questions about the long-term viability of these companies, as they struggle to create sustainable business models [15][14]. - Industry experts emphasize the need for breakthroughs in the "brain" technology of humanoid robots to achieve true commercial viability, rather than relying solely on physical performance [17][14].

Core Insights - The article discusses the rapid rise and subsequent challenges faced by humanoid robot companies, particularly focusing on Yushu Technology and Songyan Power, highlighting their market performance and public perception [1][10][24]. Group 1: Yushu Technology - Yushu Technology's humanoid robot H1 gained significant attention after its appearance on the Spring Festival Gala in 2025, followed by the G1 robot showcasing impressive athletic abilities, leading to increased interest in the capital and talent markets [1]. - The rental market for humanoid robots has seen a surge, with the G1 robot renting for 15,000 yuan per day, leading to quick returns for early adopters [6]. - However, Yushu Technology faces a trust crisis due to negative reviews revealing limitations in the G1's capabilities, which has led to a cooling off in the rental market [7]. Group 2: Songyan Power - Songyan Power emerged as a competitor with its humanoid robot N2, which performed well in a recent marathon, leading to a surge in orders and interest from investors [10][14]. - The company has received over 700 orders for the N2 robot, with a target of reaching 1,000 units sold this year [14]. - Songyan Power's strategy includes a focus on B2B markets, aiming for sustainable cash flow before expanding to consumer markets [23]. Group 3: Market Dynamics - The article highlights a trend where the novelty of humanoid robots attracts initial interest but may not sustain long-term demand, as seen with Yushu Technology's G1 [7][24]. - The commercialization of humanoid robots remains unclear, with many companies focusing on performance rather than creating lasting value for customers [24][25]. - The industry faces challenges in balancing technological advancements with practical applications, as many companies lack the necessary AI capabilities to enhance their products beyond mere physical performance [26][27].