【导读】对话联想创投：在喧嚣与泡沫中寻找具身智能的真实落点 中国基金报记者 莫琳 2025 年 7 月，联想创投周期间，联想创投管理合伙人王光熙、联想创投合伙人林林与媒体 进行了一场闭门交流。 王光熙和林林深耕科技投资多年，始终保持审慎立场。在这次交流中，两位谈及 AI 、具身智 能、底层创新和产业协同，数次提及 " 结构性机会 "" 产业共振 "" 协同落地 " ，透露出作 为 CVC （ Corporate Venture Capital ：企业风险投资）领军人物的他们，对当下热潮的 清晰认知。 机器人不是热点 而是交互变革的延续 具身智能的爆发，让机器人成为 AI 产业中最具 " 想象力 " 的一环。人形机器人、工业协作 臂、 AMR 、 AGV ，甚至 AI 四足狗，几乎成了 2025 年初投资界的流量担当。但在王光熙 看来，机器人并非新风口，更像是 "AI 赋能物理世界 " 的长期演进节点。 他表示，联想创投在十年前就开始布局机器人方向。其关注的不只是硬件形态本身，而且关 乎交互方式的根本性演化。 " 机器人将是联想老本行的最终答案。 " 联想创投合伙人林林曾在内部这样总结。这个判断 并不空泛。作为 ...

Core Insights - The semiconductor and integrated circuit sector in Dongguan has seen sustained interest, particularly with the debut of the first strategic scientist team, which has made significant technological breakthroughs in key areas such as TGV 3D packaging technology and low-power AI chips [2][4][5] Group 1: Technological Innovations - The strategic scientist team introduced five major innovations, including TGV 3.0 technology, which features sub-10 micron through holes and a 10:1 aspect ratio for 3D packaging, enabling wafer-level and board-level mass production capabilities [4][5] - The "energy-aware computing" AI chip operates at a low power consumption of only 70mW, integrating self-energy harvesting and multi-modal sensing functions [4] - The PLP plasma etching equipment has broken international monopolies in panel-level packaging, achieving technical specifications comparable to global leaders [5] - The fully automated wafer AI-AOI inspection equipment boasts a detection precision of 0.072 microns, filling a gap in high-end inspection equipment domestically [5] Group 2: Industry Ecosystem and Support - Dongguan has established a robust industrial foundation with 257 semiconductor and integrated circuit companies, projecting industry revenue to exceed 75 billion yuan in 2024 [11] - The Dongguan Integrated Circuit Innovation Center aims to enhance technological innovation capabilities and strengthen the industry ecosystem, providing a comprehensive platform for product development, pilot manufacturing, testing, and talent cultivation [13][15] - The center has attracted 15 research teams, fostering over 40 industry chain enterprises, with a focus on advanced packaging and industrial software [17] Group 3: Market Potential and Future Outlook - The advanced packaging industry is projected to grow from $37.8 billion in 2023 to $89.1 billion by 2029, with a compound annual growth rate of 11% [21] - The center's model is being replicated in other sectors, such as industrial software, indicating a broader strategy for integrating technology and manufacturing [20] - Dongguan is positioning itself as a national hub for advanced packaging, leveraging its scientific resources and industrial capabilities to drive innovation and market growth [25]