此外，他还表示，这次"夸父"作为全球首个5G-A人形机器人火炬手亮相十五运会，体现了粤港澳大湾 区对科技的包容，以及在硬科技领域锐意进取的态度。"在火炬传递环节结束后，我看到现场很多观众 主动围上来与机器人互动、合影，这其实也预示着人形机器人走进生产生活、融入千行百业的未来已不 再遥远。" 活动现场，"夸父"机器人在媒体中心一楼迎宾接待，通过全身40个关节自由度的精准控制，流畅完成挥 手致意、自我介绍与路径指引等系列交互动作。在媒体包分发环节，"夸父"机器人展现了出色的上肢负 重作业能力，其单臂负载可达5kg。面对带有一定重量的媒体包，机器人凭借多关节协同配合与上肢操 作模块，高度模拟人手抓取动作，稳定完成抓取、托举与递送全流程。即便手提重物，它仍能保持动作 的灵活性与稳定性，确保了在媒体包发放过程中"拿得稳、递得准"。 此外，"夸父"机器人还化身专业的讲解员。据悉，该机器人支持接入豆包大模型、阿里云通义千问等主 流大模型，能够实现更自然、更智能的人机交互功能。它还会手提礼品袋稳步跑向记者。这背后的运动 控制算法，正是此前支撑机器人火炬手"零失误"表现的关键所在。 人形机器人走进生产生活已不再遥远 乐聚机器人 ...

Core Insights - The event showcased the "Kua Fu" robot's capabilities in enhancing media services during the 15th National Games in Shenzhen, emphasizing the integration of technology in sports events [1][3]. Group 1: Event Overview - The media event was organized by the Shenzhen Organizing Committee and Leju Robotics, focusing on the "Kua Fu" robot's role as a torchbearer [1]. - The activities included welcoming guests and providing explanations, highlighting the innovative outcomes of technology empowering the National Games [1]. Group 2: Robot Capabilities - The "Kua Fu" robot demonstrated advanced interaction skills with 40 degrees of freedom, performing actions like waving, self-introduction, and guiding paths [3]. - It showcased impressive upper limb capabilities, able to carry a load of up to 5 kg, effectively simulating human hand movements for tasks like grabbing and delivering media packages [3]. Group 3: Technological Innovations - The robot's performance was enhanced through collaborations with institutions like Harbin Institute of Technology and Beijing Tongyuan Institute, focusing on optimizing its running control algorithms for better stability and adaptability [5]. - China Mobile provided a 5G-A network to facilitate real-time transmission of high-definition visuals from the robot, allowing for precise remote control without the need for a physical operator [5]. Group 4: Future Implications - The appearance of "Kua Fu" as the world's first 5G-A humanoid robot torchbearer reflects the Guangdong-Hong Kong-Macao Greater Bay Area's commitment to technological advancement [7]. - The positive public interaction with the robot indicates a growing acceptance and integration of humanoid robots into various sectors of daily life [7].

Core Viewpoint - Wuhan is emerging as a significant hub for technological innovation and industrial advancement, showcasing numerous firsts in various sectors, which enhances its national and global standing in innovation [1][2]. Technological Innovations - The first domestic humanoid robot powered by the HarmonyOS, named "Kua Fu," was unveiled in Wuhan, marking a breakthrough in domestic technology and addressing industry safety concerns [3]. - The world's first "world model-driven virtual-physical integrated intelligent data factory" was established in Wuhan, providing a robust learning environment for robots and positioning Wuhan as a key player in the humanoid robot industry [3]. - Wuhan has produced several groundbreaking technologies, including the world's first 128-layer 3D flash memory chip and the first professional night-sensing satellite, "Luojia No. 1" [3]. Future Industry Development - Wuhan has identified 13 sub-sectors for future industry development, including humanoid robots and advanced semiconductors, aiming for a revenue scale exceeding 100 billion yuan by 2027 [4]. - The city ranks eighth globally in the "2024 Nature Index - Research Cities," reflecting its strong scientific research capabilities and innovation potential [5]. Research and Development Support - The innovation ecosystem in Wuhan is supported by 41 national key laboratories and over 16,000 high-tech enterprises, ensuring a comprehensive innovation chain [6]. - The city has seen a significant increase in high-tech manufacturing, with a 16.3% growth in value added in the first three quarters of the year, contributing over 60% to industrial growth [9]. Smart Manufacturing - Wuhan's smart manufacturing sector is leading nationally, with the first autonomous learning intelligent CNC system, "Huazhong No. 10," enabling rapid code generation for machine tools [7][9]. - The city has also developed the world's first intelligent heavy-duty machine tool, showcasing a shift from reliance on imports to domestic innovation in high-end manufacturing [9]. Biopharmaceutical Innovations - Wuhan is making strides in the biopharmaceutical sector, with the "rice blood production" project expected to produce 12 million injections annually, significantly reducing reliance on imports [11]. - The city is home to over 4,500 health enterprises, with the life and health industry reaching a scale of over 550 billion yuan, positioning Wuhan as a key player in the global health sector [11][12]. Overall Innovation Landscape - Wuhan's continuous innovation efforts have led to its recognition as a competitive player in the global innovation landscape, with a focus on high standards and advanced technologies [12][13].

近日，据工商信息显示，杭州云深处科技有限公司更名为杭州云深处科技股份有限公司，企业类型从"其他有限责任公司"变更为"其他股份有限公司(非上 市)"。 来源：猎云精选；文/孙媛 杭州六小龙，又有一家要IPO了。 这一回，是具身智能另一代表企业云深处。 虽然公司方面对外表示，"此次股改更多是因为公司发展需要，完成相应前期准备。" 但结合此前，宇树科技和乐聚机器人两家股改跟启动上市辅导均时隔仅2个月的时间来看，此次动作亦让云深处剑指IPO之心昭然诺揭。 另外值得一提的是，就在股改之前，云深处才刚刚完成了最新一轮近5亿元融资。 这里面，近20家机构跑来"团购"，站满了有头有脸的VC，达晨财智、国新基金、北京机器人产业发展投资基金、前海母基金、华映资本、钧山资本、银杏 谷资本等机构均位列其中，可谓一场资本盛宴。 顺着云深处的这一步看去，会发现具身智能的头部玩家们已然集体跑到了二级市场的门前。 10月末，乐聚前脚刚完成近15亿元的Pre-IPO轮融资，创下今年国内人形机器人领域单笔规模近乎最大的融资，后脚就启动了IPO辅导。 随后，智元和宇树也迎来了IPO推进的重要节点。 "双线并行"的智元在反向收购上纬新材这一激进的资 ...

Core Insights - The article highlights the debut of the world's first 5G-A humanoid robot "Kua Fu" during the Shenzhen Torch Relay, showcasing advancements in embodied intelligence technology [1][7]. Group 1: Technological Breakthroughs of "Kua Fu" - **Highlight One: Empowered by 5G-A Network** The 5G-A network played a crucial role in enabling remote precise control of the robot, ensuring real-time transmission of ultra-high-definition images from the robot's perspective, allowing technicians to monitor and guide its actions [2]. - **Highlight Two: Zero Modification for Mass Production Model** The robot "Kua Fu" was able to perform the torch relay without any special hardware modifications, demonstrating its versatility across various tasks, from exhibition guiding to high-dynamics scenarios like the torch relay [3]. - **Highlight Three: Upgraded Control Algorithms for Human-like Dynamics** The development team overcame traditional limitations in robotic gait, enhancing the robot's running dynamics to closely mimic human movement, including optimized load balancing algorithms to address center of gravity shifts during running [4]. Group 2: Industry Outlook and Investment Opportunities - **Embodied Intelligence as a Growth Sector** The performance of "Kua Fu" symbolizes the accelerating implementation of embodied intelligence, which combines cognitive capabilities with physical action, indicating a significant shift towards practical applications of AI [7]. - **Market Predictions for Robotics** IDC forecasts that the global robotics market will exceed $400 billion by 2029, with China accounting for nearly half. The commercial humanoid robot shipment in China is expected to reach approximately 5,000 units by 2025, growing to nearly 60,000 units by 2030, reflecting a compound annual growth rate of over 95% [7]. - **Investment via ETFs** The article suggests that investors can capture industry benefits through ETFs, which provide diversified exposure to the rapidly evolving embodied intelligence sector, making it easier to navigate the complexities of individual stock selection [9][10].

Market Performance - The market experienced a significant rally on November 13, with major indices closing higher; the Shanghai Composite Index reached a ten-year high, while the ChiNext Index rose over 2% [1] - By the end of the trading day, the Shanghai Composite Index increased by 0.73%, the Shenzhen Component Index rose by 1.78%, and the ChiNext Index gained 2.55% [1] ETF Highlights - The Robot ETF (159770) tracking the CSI Robot Index closed up by 0.74% with a trading volume of 228 million yuan on November 13 [1] - The Robot ETF (159770) saw a net subscription of 18 million units on November 12, bringing its total scale to 9.797 billion yuan [1] - The Robot ETF has experienced continuous net inflows for 20 consecutive trading days, accumulating over 1.68 billion yuan [1] Chip Sector Insights - The Chip ETF Tianhong (159310) tracking the chip industry index rebounded with a nearly 2% increase [2] - The Chip ETF has seen significant capital inflow, with net inflows for four consecutive trading days, totaling over 10 million yuan [2] - The chip industry is expected to see a 37.62% year-on-year growth in net profit attributable to shareholders in the first half of 2025, driven by policy support and surging demand [2] Robotics Industry Developments - The global first batch of cyber store clerks began operations in Shenzhen on November 11, indicating advancements in AI and robotics [3] - Michael Spence, a Nobel laureate, noted that the AI development gap between China and the U.S. is narrowing, with both countries accelerating their advancements [3] - The humanoid robot industry is progressing rapidly, with companies like Tesla, Xiaopeng, and Leju Intelligent releasing new humanoid robots [4] - The humanoid robot supply chain is categorized into three main segments: "brain—body—whole machine integration," with the core value concentrated in the midstream components [3]

Group 1 - The Robot ETF (562500) has seen a slight increase to 0.973 yuan (+0.31%), indicating a short-term bullish sentiment with a balanced performance among its 73 constituent stocks, where 37 stocks rose and 36 fell [1] - The majority of strong stocks have seen price increases concentrated in the 1%-3% range, particularly in the machine vision and intelligent control sectors, while the weaker stocks experienced mild declines, with only a few dropping over 2% [1] - The trading volume remains active, with turnover maintaining around normal levels, suggesting good participation from investors and a strong short-term speculative interest without any abnormal volume spikes [1] Group 2 - In the humanoid robot sector, Tesla announced its latest mass production plan for the Optimus robot during its shareholder meeting on November 7, while Xiaopeng unveiled its female robot IRON on November 5, showcasing advancements in the "physical AI" field [2] - The Robot ETF (562500) is the only robot-themed ETF in the market with a scale exceeding 20 billion, covering various sub-sectors including humanoid robots, industrial robots, and service robots, providing investors with a one-click investment opportunity across the robot industry chain [2]

Core Insights - The storage chip industry is entering a "super cycle" driven by the unprecedented demand for AI computing power, particularly for large models and high bandwidth requirements, leading to a fundamental restructuring of the industry logic and cycle characteristics [2][3][17] - The humanoid robot industry is accelerating its industrialization process, with significant developments from companies like Tesla, XPeng, and Leju Intelligent, showcasing advancements in AI and robotics integration [2][3][41] Storage Chip Industry Trends - The storage chip sector is experiencing a structural prosperity period, with rapid advancements in high bandwidth memory (HBM) and high bandwidth flash (HBF) technologies, leading to a supply-demand imbalance and rising prices [3][16] - Major players like SK Hynix and Samsung Electronics are strengthening their profitability in the HBM market, which is driving growth in upstream equipment, materials, and packaging manufacturers, as well as downstream AI servers and cloud computing [3][19] - The current cycle is characterized by a shift from traditional inventory management to a demand-driven model, with AI's insatiable need for computing power redefining the value of memory [17][19] Humanoid Robot Industry Trends - The humanoid robot industry can be divided into three main segments: "brain," "body," and "system integration," with the core value concentrated in the midstream components [3][59] - Companies like Tesla are planning large-scale production of humanoid robots, with Tesla's Optimus expected to have a market capacity of billions of units, indicating a significant shift towards AI-driven manufacturing platforms [41][44] - XPeng's new humanoid robot, IRON, showcases advanced features and aims for mass production by the end of 2026, highlighting the competitive landscape in the humanoid robotics sector [50][52] Investment Recommendations - The report suggests focusing on sectors with marginal improvements, including AI applications, AI hardware, power equipment, non-ferrous metals, and innovative pharmaceuticals in the short term [4] - In the medium to long term, it emphasizes the importance of technological cycles, supply-demand dynamics, and the progress of intelligent infrastructure and AI ecosystems [5]

Group 1 - The core viewpoint is that Heertai has not supplied any components to the Kua Fu robot, despite investor inquiries [2] - Heertai, in collaboration with Leju and Dongfang Jinggong, has established a joint venture focused on the core control systems and component control for robots [2] - The joint venture has completed its registration, and product development is currently progressing smoothly [2]

Core Viewpoint - The article highlights the successful demonstration of the world's first 5G-A humanoid robot "Kua Fu" as the torchbearer at the 15th National Games, showcasing advancements in robotics technology and its potential applications in various fields [2][4][9]. Group 1: Technological Innovations - "Kua Fu" was developed by Leju Robotics with support from partners like China Mobile and Harbin Institute of Technology, achieving significant upgrades in just one month to meet the rigorous demands of torch relay [4]. - The robot utilizes 5G-A technology, enabling remote control and real-time monitoring, which allows for operation in complex environments without the need for a human runner [6]. - The development team enhanced the motion control algorithms and load balancing, allowing "Kua Fu" to run with a 1.6 kg torch while maintaining stability and human-like coordination [7]. Group 2: Commercialization and Market Potential - "Kua Fu" has successfully participated in various high-profile events, demonstrating its versatility and the maturity of Leju Robotics' technology in real-world applications [9]. - The company has established a closed-loop capability from technology development to scene implementation, supported by Shenzhen's robust industrial ecosystem [11]. - The humanoid robot industry is recognized for its long-term potential, with Leju Robotics positioned to lead in the commercialization of humanoid robots, as indicated by the successful torch relay [12].