人工智能正在发生一场根本性转向——从数字世界走向物理世界，据大摩全球最新机器人模型显示，这一转变将催生一个规模高达25万亿美元的全球机器人硬 件市场。随着AI技术从处理"比特与字节"的知识经济扩展至操控"原子与光子"的物理经济，一场机器人领域的"寒武纪大爆发"正在到来。 据追风交易台消息，摩根士丹利全球具身AI团队 在最新发布的《机器人年鉴》中预测，基准情形下，全球机器人硬件销售额将从2025年的约1000亿美元激增 至2030年的5000亿美元，2040年达到9万亿美元，并在2050年攀升至25万亿美元。这一预测仅涵盖硬件销售，若加上软件服务、维护及供应链相关收入，市 场规模可能成倍增长。 在这一变革中，中国展现出明显的领先优势，尤其体现在制造能力、稀土材料控制以及政策支持等多个维度。随着中国企业加速机器人量产和应用落地，全球 市场格局正发生深刻变化。摩根士丹利认为，中国的领先地位有望在未来十年持续扩大。 五大因素催化，全球机器人市场迎来指数级增长 大摩 通过其全球机器人模型（GROM）预测，到2050年全球将销售14亿台机器人，运行中的机器人总数将达到65亿台。 机器人形态将高度多样化，包括工业机器人、服 ...

Core Insights - The article discusses a fundamental shift in artificial intelligence from the digital realm to the physical world, predicting a global robotics hardware market worth up to $25 trillion by 2050, driven by advancements in AI technology [1][3]. Market Growth Projections - Morgan Stanley's global robotics model forecasts that global robotics hardware sales will surge from approximately $100 billion in 2025 to $500 billion by 2030, reaching $9 trillion by 2040 and $25 trillion by 2050 [1][4]. - By 2050, it is expected that 1.4 billion robots will be sold globally, with a total of 6.5 billion operational robots [4]. Diverse Robot Forms - The types of robots will be highly diverse, including industrial robots, service robots, drones, autonomous vehicles, humanoid robots, and household robots, applicable across various sectors such as manufacturing, healthcare, agriculture, transportation, defense, and space exploration [6]. Component Demand Surge - The explosive growth of the robotics industry will create significant opportunities for upstream component suppliers. By 2050, the demand for key components will include 5.7 billion cameras, 27 billion motors, 41 billion bearings, and 1.25 million ExaFLOPS of edge computing capacity, among others [8][9]. Investment Opportunities - The demand surge will present major business opportunities for suppliers of motors, bearings, rare earth materials, cameras, sensors, AI chips, and batteries. Small drones and low-altitude robotic systems are identified as the most promising investment areas due to factors such as ease of navigation, government prioritization following lessons from the Russia-Ukraine conflict, and the maturation of regulatory frameworks [9]. China's Competitive Advantage - China is highlighted as having a clear competitive edge in the robotics sector, particularly in manufacturing capabilities, control of rare earth materials, and policy support. The country is expected to maintain and expand its leading position over the next decade [3][14]. - By 2025, investments in the robotics and drone sectors in China are projected to exceed $30 billion, with AI-related financing reaching $260 billion, indicating China's significant role in the global market [14]. Market Share and Future Outlook - By 2050, China is anticipated to account for approximately 26% of global robot sales, with even higher shares in industrial robots and drones. Morgan Stanley notes that China holds a dominant position in the humanoid robot supply chain, particularly in the "body" segment [15]. - Manufacturing capability is identified as the core competitive advantage in the era of embodied intelligence, contrasting with the previous focus on software and algorithms in the digital AI era [15].

本文来自：华尔街见闻，作者：卜淑情，原文标题：《大摩重磅机器人年鉴（一）：AI走向实体化，机器人迎来寒武纪大爆发，中国领先优 势明显》 人工智能正在发生一场根本性转向——从数字世界走向物理世界，据大摩全球最新机器人模型显示，这一转变将催生一个规模高达25万亿美元 的全球机器人硬件市场。随着AI技术从处理"比特与字节"的知识经济扩展至操控"原子与光子"的物理经济，一场机器人领域的"寒武纪大爆 发"正在到来。 据追风交易台消息，摩根士丹利全球具身AI团队在最新发布的《机器人年鉴》中预测，基准情形下，全球机器人硬件销售额将从2025年的约 1000亿美元激增至2030年的5000亿美元，2040年达到9万亿美元，并在2050年攀升至25万亿美元。这一预测仅涵盖硬件销售，若加上软件服 务、维护及供应链相关收入，市场规模可能成倍增长。 据大摩测算，2030年全球将售出约9000万台机器人，2040年这一数字将增至6亿台。其中，小型无人机和家用机器人在近期最具市场潜力，而 人形机器人预计在2029~2030年开始规模化部署。 在这一变革中，中国展现出明显的领先优势，尤其体现在制造能力、稀土材料控制以及政策支持等多个维度。 ...

人工智能正在发生一场根本性转向——从数字世界走向物理世界，据大摩全球最新机器人模型显示，这一转变将催生一个规模高达25万亿美元的 全球机器人硬件市场。随着AI技术从处理"比特与字节"的知识经济扩展至操控"原子与光子"的物理经济，一场机器人领域的"寒武纪大爆发"正在 到来。 据追风交易台消息，摩根士丹利全球具身AI团队在最新发布的《机器人年鉴》中预测，基准情形下，全球机器人硬件销售额将从2025年的约1000 亿美元激增至2030年的5000亿美元，2040年达到9万亿美元，并在2050年攀升至25万亿美元。这一预测仅涵盖硬件销售，若加上软件服务、维护 及供应链相关收入，市场规模可能成倍增长。 在这一变革中，中国展现出明显的领先优势，尤其体现在制造能力、稀土材料控制以及政策支持等多个维度。随着中国企业加速机器人量产和应 用落地，全球市场格局正发生深刻变化。摩根士丹利认为，中国的领先地位有望在未来十年持续扩大。 五大因素催化，全球机器人市场迎来指数级增长 大摩通过其全球机器人模型（GROM）预测，到2050年全球将销售14亿台机器人，运行中的机器人总数将达到65亿台。 机器人形态将高度多样化，包括工业机器人、服务 ...

【环球网财经综合报道】国家发改委负责人日前表示，鼓励支持引导广大民营企业把握新一轮科技革命和产业变革、 超大规模国内市场、城乡区域协调发展等民间投资发展机遇，进一步拓宽市场准入空间、强化要素支撑保障、加强合 法权益保护，持续激发民间投资动力活力，全力推进民间投资高质量发展。 联合新闻网近日发文称，从泰国曼谷到巴西圣保罗，街头驶过的电动汽车不乏中国品牌身影；泡泡玛特海外门店前 面，年轻人为抢购一只LABUBU玩偶排起长队；割草、扫地…功能各异的中国家用机器人在跨境电商平台上热销。这 些发生在世界不同角落的日常，正是日益活跃的中国民营企业形象。 报道还提到，中国民营企业"出海"日渐深入，从潮玩、新中式茶饮到智能家居、新能源汽车，创新中国品牌成为海外 消费者生活的一部分。民企正向产业链和价值链高端发展，推动"中国制造"转为"中国创造"。这源于民企创新活力提 升和研发经费增加，数字技术如跨境电商平台加速了产品全球布局。中国已建立完整的产业链及高效生态，进行本土 化实践并深度连接当地社会，带动就业与产业升级，海外对中国品牌的认知由价格转向价值认同。 此外，全国工商联对超4000家有境外资产、出口贸易、对外投资、对外工程 ...

中新社北京11月23日电 (记者 尹倩芸)从泰国曼谷到巴西圣保罗，街头驶过的电动汽车不乏中国品 牌身影；泡泡玛特海外门店前，年轻人为抢购一只LABUBU玩偶排起长队；割草、扫地……功能各异 的中国家用机器人在跨境电商平台上热销。 这些发生在世界不同角落的日常，正重塑着"中国制造"的全球印象。驱动这一变化的主要力量，正 是日益活跃的中国民营企业。 不同于过往简单的"产品出口"，当下民企"出海"已日渐深入。从潮玩到新中式茶饮，从智能家居到 新能源汽车，越来越多具有创新力的中国品牌，正逐渐成为海外消费者"衣食住行"的一部分。 这一变化很大程度上源于民企创新活力的持续增强。全国工商联发布的调研分析报告显示，2025年 中国民营企业500强中实际填报企业的研发费用总额1.13万亿元人民币，平均研发经费投入强度2.77%。 数字技术的普及则为企业"出海"铺设了更便捷的通道。以希音(SHEIN)、阿里国际站为代表的跨境 电商平台，将"千人千面"的个性化需求与中国供应链高效对接，也让"中国制造"更直接、快速地触达全 球消费者。 中国商务部数据显示，全国跨境电商主体已超12万家，海外仓数量突破2500个。在专家看来，中国 已构 ...

Core Insights - Hubei Province has achieved significant progress in domestic and international trade during the 14th Five-Year Plan period, with a focus on expanding consumption and enhancing economic growth [1][3][4] Domestic Consumption - The total retail sales in Hubei increased from 1.8 trillion yuan in 2020 to 2.53 trillion yuan in 2024, with an average annual growth rate of 8.9%. In the first nine months of this year, retail sales grew by 5.2%, surpassing the national average by 0.7% [3] - Hubei has implemented a consumption upgrade program, leading to over 176 billion yuan in consumption stimulation through trade-in programs. New consumption models, such as duty-free shops and tax refund stores, have been established, with over 1,000 new stores introduced in the past three years [3][4] Foreign Trade - Hubei's import and export volume increased by 21.6% from January to October this year, ranking first among major economic provinces. The province's exports of mechanical and electrical products accounted for over 50% of total exports [3][4] - The province has initiated actions to expand market access for enterprises, with a focus on countries involved in the Belt and Road Initiative, which now accounts for 53.3% of total imports and exports [3] Investment and Infrastructure - Hubei has established a comprehensive open platform system, including eight open ports, six comprehensive bonded zones, and nine national-level economic development zones. The province has attracted 14,772 projects with over 100 million yuan in investment over the past four years [4][5] - Major projects, such as Xiaomi's smart home appliance factory and EVE Energy's super factory, have been established in Hubei, with actual foreign investment reaching 9.8 billion USD, the highest in Central China [4] Future Directions - The province aims to enhance consumption by focusing on new demand and supply, promoting innovative consumption models, and improving service quality in sectors like dining, accommodation, and healthcare [5][6] - Hubei plans to create a world-class commercial hub and improve the rural and urban consumption market, while also enhancing the consumer environment through a three-year action plan [6] - The government will work on increasing public service spending and reducing costs related to childbirth, education, and healthcare to boost consumer confidence [6]

Group 1: Company Strategy and Product Development - The company is actively optimizing the layout of humanoid robots in education, rehabilitation, and companionship applications, aiming for a full lifecycle service from childhood to elderly care [2][3][7]. - The new generation NAO7 robot is expected to be launched soon, featuring a comprehensive upgrade in perception, computation, and interaction capabilities, enhancing environmental adaptability and understanding of the physical world [3][7][9]. - The company has acquired relevant assets of the NAO robot from Aldebaran and is establishing a subsidiary in France to operate these assets, integrating the original core team to enhance supply chain and R&D mechanisms [6][7]. Group 2: Financial Performance and Accounts Receivable - The company has faced delays in accounts receivable due to extended settlement cycles, leading to significant asset impairment provisions that impact net profit [5][9]. - A special team has been established to enhance the collection of accounts receivable, with the potential to reverse previous impairment provisions, thereby increasing current profits [5][9]. - The company is listed on multiple local government debt relief lists, indicating ongoing efforts to manage financial obligations effectively [5]. Group 3: Market Opportunities and Future Plans - The company has successfully completed major information technology projects in Hainan, which are crucial for the region's free trade zone operations, and will continue to follow up on related projects [8][10]. - There are plans to disclose new large contracts or milestones in humanoid robot production in Q4 2025, contingent on meeting disclosure standards [5][8]. - The company is exploring collaborations with its invested companies, such as Yizhu Technology and Shishi Technology, to enhance product development and market reach [3][9]. Group 4: Product Line and Market Position - The company has established a diverse product line, including inspection robots, collaborative robots, and temperature measurement robots, with applications in port scenarios [10]. - The company holds a 0.9525% stake in Beijing Nanwei Technology, which focuses on advanced AI chips for data centers and cloud computing [9]. - The company is committed to expanding its business scope, including investments in embodied and toy robots, despite potential short-term impacts on profit margins [9].

本报讯 （记者吴文婧）11月16日，2025人工智能+大会上在北京举行，宇树科技股份有限公司（以下简称"宇树科技"）创 始人兼首席执行官王兴兴在演讲中重点展望了机器人发展的"下一个十年"。王兴兴表示，下一个十年注定是"生长与绽放"，是 机器人从"能运动"走向"能做事"，从"行业工具"迈向"生活伙伴"。 随着应用边界不断拓展，机器人要在更复杂、更开放的环境中可靠运行，对整个产业链的协同能力提出了更高要求。 王兴兴表示："下一个十年，更需要我们携手共建生态的'朋友圈'。机器人产业从来不是一家企业的单打独斗，我们需要与 开源社区紧密合作，加速技术成果的共享，降低全行业的创新成本。我们更需要与全球伙伴一起，建立健全机器人伦理与安全 标准，确保技术朝着'向善'的方向发展。我始终相信，唯有全球拧成一股绳，机器人技术才能更快突破临界点，推动人类文明 迈上新台阶。" （编辑 张昕） 王兴兴提出，下一个十年，AI技术将赋予机器人真正"理解世界"的能力。伴随多模态大模型与机器人的深度融合，机器人 将更加敏锐、更加能干。 在他看来，场景将推动机器人真正"融入生活"，其举例称，在工厂的生产线上，未来的工业机器人将与工人并肩协作，工 ...

Core Insights - The next decade will see scenarios driving robots to truly integrate into daily life [1] - Collaboration between industrial robots and human workers will enhance productivity on factory production lines [1] - Small care robots will assist elderly individuals in community care settings, addressing the shortage of caregivers [1] - Household robots will take on various tasks such as cleaning, caregiving, and educational support, becoming versatile helpers in homes [1] - The robotics industry requires collaboration with open-source communities to accelerate technology sharing and reduce innovation costs [1] - Establishing global ethical and safety standards for robotics is essential to ensure technology develops positively [1] - A unified global effort is necessary for robotics technology to reach critical breakthroughs and advance human civilization [1]