8月29日，优必选公布了2025年中期业绩报告。今年上半年，优必选实现营收6.21 亿元，同比增长 27.5%；实 现毛利2.17亿元，同比增长17.3%； 研发费用 2.18亿元 ， 占营收 35.1% 。报告期内，公司人工智能教育业务 与消费级机器人及其他硬件设备业务均实现了近 50%的同比增长。 展望未来，人形机器人落地应用加速。优必选基于全栈式核心技术积累，深耕应用场景，持续推进人形机器人在 工业制造、商用服务、科研教育、家庭陪伴等场景的应用落地，为锻造新质生产力及新型工业化提供新动能。 如需咨询 商务合作、 宣传推广、 转载开白等事宜，请联系：18355423366 (微信同号)对接。 END 75家机器人上市公司2024年报亮点 机器人行业上市公司2024年报出炉！谁领风骚看榜单 55家机器人上市公司2023年报看点：喜忧参半，洗牌加剧 孙立宁院士: 微纳感知赋能具身智能机器人创新发展 浙江大学熊蓉教授: 人形机器人具身智能发展挑战与进展 董凯处长：机器人具身 智能发展趋势研判 打响机器人概念股退市第一枪的为什么是它？ 仿生机器人技术新突破：向松鼠学习跨越 复杂地形的智慧 从"破格上市"到市值翻三 ...

Group 1 - International long-term capital is investing in China's leading humanoid robot company, UBTECH, with a strategic partnership agreement worth $1 billion signed with Infini Capital [2][3] - The partnership will focus on financial support and industrial collaboration, indicating international capital's long-term optimism for China's humanoid robot industry [2][3] - Infini Capital plans to increase its stake in UBTECH to no more than 5% and will assist in building an ecosystem for humanoid robots by investing in the upstream and downstream industries [3] Group 2 - UBTECH reported a revenue of 621 million yuan for the first half of 2025, representing a year-on-year growth of 27.5%, with gross profit increasing by 17.3% [5] - The company is accelerating the delivery of humanoid robots, expecting to deliver 500 industrial humanoid robots in 2025, supported by ongoing R&D investments [6] - UBTECH is focusing on key technologies such as high-performance servo drives and multimodal interaction, which have been applied to the new generation of industrial humanoid robots, Walker S2 [7]

Core Insights - International long-term capital is investing in China's leading humanoid robot company, UBTECH, with a strategic partnership agreement worth $1 billion signed with Infini Capital [1][2] - This collaboration signifies international patient capital's long-term optimism towards China's humanoid robot industry, following the involvement of the world's largest sovereign wealth fund in UBTECH's placement [1] Financing and Strategic Cooperation - Infini Capital's high-tech fund will provide UBTECH with a total strategic financing credit line of $1 billion, which includes participation in placements, subscription to convertible bonds, and cash withdrawal rights [3] - The partnership aims to enhance UBTECH's industrial layout capabilities and includes plans for Infini Capital to increase its stake in UBTECH to a maximum of 5% [3] - Both parties will collaborate to invest in the humanoid robot supply chain and assist UBTECH in establishing a presence in the Middle East, including setting up a joint venture and a super factory [3] Company Performance and Growth - UBTECH reported a revenue of 621 million yuan for the first half of 2025, representing a year-on-year growth of 27.5%, with a gross profit of 217 million yuan, up 17.3% [6] - The company is accelerating the delivery of humanoid robots, with plans to deliver 500 industrial humanoid robots within 2025 [6] - UBTECH's focus on research and development in embodied intelligent humanoid robots has led to significant advancements, including the development of the Co-Agent technology for collaborative tasks [6][7] Technological Innovations - UBTECH is committed to advancing key technologies such as humanoid brain simulation, high-performance actuators, and multimodal interaction technologies [7] - The latest generation of industrial humanoid robots, Walker S2, features enhanced task planning, dexterous operation, navigation, and human-robot interaction capabilities [7] - UBTECH has pioneered a hot-swappable autonomous battery replacement system for humanoid robots, allowing for continuous operation and redefining energy management paradigms [8]

Core Insights - International long-term capital is optimistic about China's leading humanoid robot company, UBTECH, as evidenced by a $1 billion strategic partnership agreement with Infini Capital [1][2]. Group 1: Strategic Partnership - The partnership involves a total strategic financing credit line of $1 billion, which includes methods such as participating in placements, subscribing to convertible bonds, and granting cash withdrawal rights [3]. - Infini Capital aims to become a significant shareholder of UBTECH, targeting a stake of no more than 5% [3]. - The collaboration will focus on investing in the humanoid robot supply chain and assisting UBTECH in expanding its ecosystem [3]. Group 2: Market Expansion and Technological Development - Infini Capital will help UBTECH enter the Middle Eastern market by establishing a joint venture and planning to set up a super factory and R&D center in the region [3]. - UBTECH has established partnerships with major industry players such as BYD, Dongfeng Liuzhou, and Audi FAW, and has achieved significant milestones in humanoid robot applications [4]. - The company reported a revenue of 621 million yuan in the first half of 2025, marking a year-on-year growth of 27.5% [6]. Group 3: Technological Advancements - UBTECH is focused on developing key technologies such as humanoid brain and body systems, achieving breakthroughs in high-performance servo drives and multi-modal interaction technologies [7]. - The latest generation of industrial humanoid robots, Walker S2, features advanced task planning and operational skills, along with a unique hot-swappable autonomous battery system [7].

优必选持续致力于推动发展仿人大脑、仿人小脑、高性能肢体等关键技术群，在高性能伺服驱动器技术、大模型技术、四目语义 VSLAM技术、学习型运动控制技术、纯视觉双目成像与感知技术、多模态交互技术等实现突破。这些创新技术已经应用于全新一代 的全尺寸工业人形机器人Walker S2上，使其具备更加出色的任务规划技能、灵巧操作技能、导航移动技能、人机交互技能。 Walker S2还搭载了由优必选全球首创的人形机器人热插拔自主换电系统，以3分钟自主换电和7×24小时连续作业能力，重新定义了人 形机器人能源管理范式，构建"永不停机的新质生产力"。 8月29日，优必选(09880)公布了2025年中期业绩报告。今年上半年，优必选实现营收6.21亿元，同比增长27.5%；实现毛利2.17亿元， 同比增长17.3%；研发费用2.18亿元，占营收35.1%。报告期内，公司人工智能教育业务与消费级机器人及其他硬件设备业务均实现了 近50%的同比增长。 2025年，优必选人形机器人交付实现突破。4月，公司正式与客户签订了大型双足人形机器人采购合同，7月中标觅亿汽车9051.15万 元机器人设备采购项目，创下全球人形机器人企业单笔中标金 ...

Investment Rating - The report maintains a "Recommended" investment rating for the humanoid robot industry [2][32]. Core Insights - The humanoid robot sector is experiencing significant product launches and events, such as the World Artificial Intelligence Conference (WAIC), which is expected to catalyze growth in the industry [32]. - The report emphasizes the importance of tracking the production progress of Tesla's Optimus and developments from domestic companies like Huawei and Yushu Chain to capitalize on the industry's expansion in 2025 [32]. Summary by Sections Market Review - From July 21 to July 25, 2025, the humanoid robot index increased by 2.13%, outperforming the Shanghai Composite Index, which rose by 1.67% [5][12]. - Notable individual stock performances included North Rare Earth (+16.05%) and Changsheng Bearing (+15.33%) [14]. Industry Dynamics - Yushu Technology launched its bipedal humanoid robot R1, priced starting at 39,900 yuan, featuring 26 joints and advanced motion capabilities [5][18]. - The WAIC showcased over 150 humanoid robots, marking the highest participation in its history, with various companies demonstrating applications in retail, industrial, logistics, and urban services [21][22]. - Tesla's Optimus robot began service in a restaurant, generating $47,000 in revenue within six hours, indicating strong market interest [24][25]. Company Developments - ByteDance introduced the GR-3 VLA model and the ByteMini robot, designed for household tasks with advanced capabilities [25]. - UBTECH launched the Walker S2, an industrial humanoid robot, featuring innovative technologies for autonomous operations [27][30]. Investment Recommendations - The report suggests focusing on companies with high certainty and incremental technology, particularly those linked to Tesla, Yushu, and Huawei [32]. - Key stocks to watch include those in the Tesla chain (e.g., Sanhua Intelligent Control, Top Group) and Yushu chain (e.g., Changsheng Bearing, Mannesmann) [32][33].

Group 1 - The A-share market opened with mixed performance on July 24, with the robotics concept showing slight activity, particularly the Robotics ETF (159770) which opened up by 0.33%, leading in opening gains among similar products [1] - The Robotics ETF (159770) has seen a net inflow of over 160 million yuan in the last three days, marking it as the top product in terms of both consecutive net inflow days and total net inflow in the Shenzhen market [1] - The ETF closely tracks the CSI Robotics Index, with significant holdings in companies such as Huichuan Technology, iFlytek, and Stone Technology, and has a latest circulating scale of 6.263 billion yuan, also the highest among similar products in the Shenzhen market [1] Group 2 - UBTECH announced the launch of the full-size industrial humanoid robot Walker S2, which features the BrainNet 2.0 technology and is designed for smart manufacturing scenarios [2] - The Zhiyuan quadruped robot D1 ULTRA has been launched, targeting special applications, security inspections, and educational research, with a maximum running speed of 3.7 meters per second [2] - CITIC Securities reports a recovery in sentiment for the humanoid robot sector, driven by recent order breakthroughs and the ongoing IPO process of leading domestic robot manufacturers, which is expected to increase capital expenditure across the industry [2]