众擎机器人亮相国际消费类电子产品展。受访者供图 ■粤企新声——广东企业一线探访 摩根士丹利预测，2026年将成为AI科技硬件迎来爆发式增长的关键之年。 近日，记者走进以众擎机器人为代表的广东AI硬件企业。过去几年是广东AI硬件企业的试水阶段，2026年则是向着全球市场全面进发之年。 他们不再满足于出门亮相，而是带着真实的产品、清晰的落地场景和开放的解决方案体系，与全球合作伙伴共同推进技术落地。 技术力成为出海核心筹码 展会现场，众擎机器人展位前观众络绎不绝。众擎T800与众擎PM01的全身协同运动及精细操作能力引得现场观众纷纷掏出手机录像，甚至还有外国观众要 和它们"比试"一下。 2026年，AI已经成为消费电子产品的"底座"。你的硬件都加上AI了吗？ 当地时间1月8日，2026国际消费类电子产品展（下称CES）正在美国拉斯维加斯如火如荼进行中。走进拉斯维加斯会展中心北馆会发现，开展仅几十分钟， 深圳市众擎机器人科技有限公司（下称"众擎机器人"）展台前已经人气十足。机器人格斗、跳操、热舞，还和参展观众互动，赢得了阵阵赞叹。 作为全球规模最大、影响力最广的消费类技术展览会，CES历来是前沿技术的首发阵地与行业趋 ...

Core Insights - The article highlights the increasing capital investment in humanoid robotics, with companies like Zhongqing Robotics successfully completing multiple funding rounds, indicating strong market interest and potential growth in this sector [2][3] Funding and Investment - Zhongqing Robotics has completed its A1+ and A2 funding rounds, attracting investments from a diverse array of sources, including national funds, local state-owned enterprises, and international capital [3] - Since its establishment in October 2023, Zhongqing Robotics has completed eight funding rounds, with significant amounts raised, including a total of 1 billion yuan from Pre-A++ and A1 rounds alone [3] - The company’s investor lineup includes prominent firms such as Huangpujiang Capital and Henan Investment Group, showcasing a robust support system for its operations [3] Product Development - Zhongqing Robotics has launched several humanoid robot products, including the T800, which stands at 1.73m and weighs 75kg, capable of advanced environmental modeling and AI path planning [5][6] - The T800 is priced starting at 180,000 yuan, significantly higher than the previously announced SA02 model, which starts at 38,500 yuan, indicating a strategic differentiation in product offerings [5][6] - The company aims to cover various market segments with its product matrix, targeting both commercial and consumer-level applications [6] Commercialization Strategy - Zhongqing Robotics emphasizes a "technology first, steady commercialization" strategy, focusing on product stability and adaptability through real-world testing before scaling up production [7] - The company is preparing for mass production, leveraging Shenzhen's advanced manufacturing ecosystem to enhance its operational efficiency and quality control [8] - A notable partnership with Duolun Technology aims to integrate humanoid robots into traffic management and law enforcement, with plans to procure at least 2,000 units over the next three years [8][10] Market Challenges and Opportunities - The humanoid robotics industry faces challenges in achieving widespread commercial viability, particularly in complex environments where current technology may not meet operational demands [9][10] - Despite these challenges, there is a recognized potential for humanoid robots in repetitive and high-risk scenarios within the transportation sector, suggesting a long-term growth trajectory [10]

Core Insights - The 2025 World Intelligent Manufacturing Conference officially opened in Nanjing, showcasing over 30 top global robot brands, with a focus on advancements in retail supply chains, AI productivity, smart logistics, and industrial digital equipment [1][4]. Group 1: Event Highlights - JD.com presented its self-operated robot rental service, allowing consumers to rent smart humanoid robots and four-legged robotic dogs directly through its platform [3]. - An immersive interactive exhibition area was a highlight, featuring over 80 robot products, including performances by various robots that captivated attendees [5][7]. - Notable products included the JoyInside-enabled Loona robotic dog and the five-in-one AI chess robot from Yuanluobo, which showcased high emotional intelligence in interactions [9]. Group 2: Strategic Initiatives - In August, JD.com launched the "Intelligent Robot Industry Acceleration Plan," committing over 10 billion yuan to help 100 robot brands achieve sales exceeding 1 billion yuan within three years [11]. - The company offers a zero-threshold entry service for partners, facilitating a seamless integration of online and offline sales channels [11][15]. - JD.com aims to provide a comprehensive solution for partners, covering the entire supply chain from components to final products, thereby promoting the integration of robots into everyday life [15][17]. Group 3: Technological Empowerment - The JoyInside brand offers advanced application capabilities, emotional dialogue experiences, and adaptability to various scenarios, with dozens of leading brands already integrated [13][15]. - JD.com has initiated a limited-time free access program to help more robot companies seize growth opportunities [13].

Core Viewpoint - The humanoid robot rental market has experienced a rapid rise and subsequent decline, with rental prices dropping significantly as the initial hype subsides, leading to a shift from simple showcases to more complex collaborative performances [6][7][8]. Market Dynamics - The rental price for humanoid robots surged to over 10,000 yuan per day after the Spring Festival, but has since plummeted to around 5,000 yuan, reflecting a nearly 50% decrease [9][10]. - The market is characterized by a "winner-takes-all" dynamic, with a few companies, particularly Yush Robot, dominating the market share [17][18]. Business Operations - The humanoid robot rental business is capital-intensive, with operators like Li Lei investing nearly 4 million yuan in robot purchases alone, indicating a heavy reliance on asset investment [9][11]. - Despite the price drop, the recovery period for investments remains attractive at around three months, compared to over a year for other rental categories [11][12]. Technological Challenges - The current humanoid robots face technical limitations, such as inadequate sound systems and coordination issues, which hinder their performance in complex tasks [19][20]. - The industry is in need of technological breakthroughs to enhance robot capabilities and maintain market interest [20][26]. Future Outlook - The market's future hinges on the ability to create new applications and maintain consumer interest, as the novelty of humanoid robots may wear off [25][26]. - Companies are exploring the C-end market with more affordable humanoid robots, which could broaden the customer base and stimulate demand [12][13].

Group 1 - The core viewpoint of the news highlights the ongoing developments in the robotics sector, particularly focusing on the launch of the world's first cyber staff in a retail environment, showcasing advancements in robotic technology and consumer interaction [1][2]. - The Robot ETF (562500) is noted as the only robot-themed ETF in the market with a scale exceeding 20 billion, covering various segments such as humanoid robots, industrial robots, and service robots, providing investors with a comprehensive investment opportunity in the robotics industry [2]. - The introduction of humanoid robots, such as the PM01, signifies a shift towards more autonomous and interactive robotic solutions in retail, indicating a trend towards enhanced consumer engagement through technology [1][2]. Group 2 - Citic Securities suggests that the release of Xpeng's IRON humanoid robot marks a significant acceleration in the industrialization of humanoid robots, with a potential trend towards fully covered flexible skin and specific humanoid designs, driven by the demand for complex scene interactions [2]. - The report emphasizes the connection between humanoid robot components and automotive technology, recommending a focus on companies capable of industrializing humanoid robot components [2].

Market Review - The Huaxia AI ETF (589010) opened lower on November 12 and showed slight fluctuations, indicating a cautious short-term sentiment. Among the holdings, 7 stocks rose while 23 fell, with notable gains in stocks like Zhongke Xingtou and Cambrian, which recorded over 2% increases, while Hongsoft Technology faced significant declines [1] - The Robot ETF (562500) also exhibited a weak structure after a low opening, with prices remaining below the moving average. It briefly dipped to a daily low of 0.963 yuan before stabilizing, showing slight recovery near the close but failing to regain key moving averages. Out of 73 component stocks, only 8 rose while 65 fell, highlighting significant structural differentiation [1] - The trading volume for the Robot ETF remained active, exceeding 1.3 billion yuan for the day, indicating sufficient turnover and clear buy-sell dynamics at lower levels [1] Hot News - UBTECH has officially commenced mass production and delivery of the first batch of hundreds of full-size industrial humanoid robots, Walker S2, which will be gradually deployed in frontline applications. Since early 2025, the cumulative order value for the Walker series has surpassed 800 million yuan [2] - The world's first cyber staff officially began work at the JD Home store in Shenzhen on November 11, featuring robots that can autonomously perceive their environment and provide guided tours. The store is equipped with 5 robot staff members, with their dialogue continuously upgraded [2] - OpenAI announced the rollout of the GPT-5.1 series model, which will start being pushed to users this week [2] Institutional Viewpoints - CITIC Securities believes that industrial scenarios are more feasible for implementation compared to home settings due to the structured environment of factories and standardized tasks. B-end clients are motivated to apply humanoid robots as long as they can achieve cost reduction and efficiency improvement. Simple industrial processes, such as loading and tightening, are seen as breakthrough points for large-scale application [2]

Group 1 - The humanoid robot sector is experiencing a resurgence, with significant increases in stock prices for companies like Zhongkong Technology and Weichuang Electric, indicating strong market interest and investment potential [1][2] - The Huafu Technology Momentum Mixed Fund has strategically invested in the humanoid robot sector, showing impressive returns with a 214.07% increase over the past year and a 107.21% increase year-to-date [1] - Alibaba Group's CEO announced plans to increase capital expenditure beyond the previously stated 380 billion yuan, highlighting the company's commitment to expanding its cloud and AI hardware infrastructure [1] Group 2 - The humanoid robot industry is seeing increased activity, with more entrants and significant catalysts driving growth, including Tesla's positive outlook on its Optimus robot and increased production guidance from domestic suppliers [2] - The Chinese humanoid robot market is expected to accelerate, with several startups targeting 2025 for mass production of key products, indicating a robust growth trajectory for sales and demand [2] - The Huafu Technology Momentum Mixed Fund is well-positioned to capitalize on the current wave of technological advancements in artificial intelligence and robotics [2]

Core Insights - The article highlights the rapid evolution of robots, showcasing their capabilities in various interactive and performance settings, indicating a significant advancement in human-robot interaction [1]. Group 1: Technological Advancements - Robots like "Aibao" demonstrate impressive rhythmic drumming capabilities, performing at a pace of every 0.375 seconds [1]. - The "Zhongqing PM01" robot showcases elegant walking and natural interaction with the audience, reflecting advancements in robotic mobility and social engagement [1]. - The flagship robot "Xialan" can perform a range of activities from singing traditional music to engaging in interactive games, illustrating the versatility of modern robots [1]. Group 2: Industry Implications - The 2025 World Robot Conference serves as a platform to display these advanced robotic technologies, emphasizing the industry's growth and innovation [1]. - The article suggests that the future of robotics is not only technologically advanced but also more emotionally engaging, indicating a shift towards more human-like interactions [1].

Core Viewpoint - The competition in the field of embodied intelligence is intensifying among major internet companies, with JD.com and Meituan adopting distinct strategies to capture this emerging market [1][2]. Group 1: JD.com's Strategy - JD.com is implementing a vertical integration strategy, aiming to create a complete ecosystem from AI brain to robot body and scene implementation [3][5]. - The establishment of the "JoyInside" platform allows JD.com to combine its technological advantages with partners' hardware capabilities, forming a virtuous cycle of technology output, product sales, and data feedback [3][5]. - During the 618 shopping festival, sales of embodied intelligence robots on JD.com's platform increased by 17 times year-on-year, indicating the initial success of its systematic layout [3][4]. Group 2: Meituan's Strategy - Meituan is pursuing a broad investment strategy, having made eight investments in the field of embodied intelligence since 2024, including companies like Self-Variable Robotics and Galaxy General [7][8]. - This strategy aims for comprehensive coverage of "embodied brain + body," allowing Meituan to explore various technological routes and solutions [8][9]. - Meituan's extensive local service network, comprising 7 million delivery riders and 3.6 million merchants, positions embodied intelligence as a key tool for cost reduction and efficiency improvement [8][9]. Group 3: Competitive Dynamics - The competition between JD.com's vertical integration and Meituan's broad investment strategy is not a zero-sum game; both can learn from each other and coexist [10][13]. - JD.com's model allows for precise targeting in scene implementation, leveraging its supply chain and consumer electronics expertise to create a commercial closed loop [10][11]. - Meituan faces challenges in matching various technological routes with its business needs, requiring strong resource integration capabilities [11][12]. Group 4: Ecosystem Development - JD.com's vertical integration fosters a closed-loop ecosystem, enhancing its competitiveness and attracting more partners [12][13]. - Meituan's broad investment strategy necessitates building an open ecosystem, which requires coordination among various stakeholders to ensure stability and health [13][14]. - The competition in the embodied intelligence sector is expected to drive innovation and breakthroughs, benefiting society as a whole [15][16].

Group 1 - JD.com has completed investments in three leading companies in the field of embodied intelligence, highlighting its strategic focus on this sector [1] - Zhongqing Robotics, a leading domestic robotics technology company, has received significant funding support from JD.com, which will aid its technological development and market expansion [1] - The launch of the Zhongqing PM01 robot, the world's first somersault robot, has gained widespread attention, and its JD.com exclusive version enhances user interaction experiences [1] Group 2 - JD.com emphasizes the importance of technological hotspots such as embodied intelligence and large models, focusing on supply chain scenarios to drive innovative applications [3] - The JD-TFS technology team has achieved significant success in the 2025 CVPR robot dual-arm operation simulation challenge, outperforming renowned domestic and international competitors [3] - JD.com has released the first domestic dual-arm mobile robot operation dataset in April 2024, positioning itself as an innovator in the robotics technology field [3]