数据来源：工业和信息化部、海关总署等 最直接的问题是尺寸太大。国内流行的大体积机器人到了日本根本"走不动"，过道转不过弯。 "我们在国内卖得很好的几款机器人，在这里几乎无处安放。"擎朗智能创始人李通说。团队需要从头开 始，设计一款"更适合日本"的机器人：体形小巧，穿行灵活，语音系统换成日语，屏幕上的动画表情还 能变换。 新的机器人就这样诞生了——能穿过最窄49厘米的通道，机身背后配备双层或三层托盘，还加装了多个 摄像头和传感器，方便感应人流中的突发状况。 "很多调整听起来很小，但其实很难。"李通说。比如机器人的轮胎，客户反馈刹车后地板上会有黑色痕 迹。为了解决这个问题，企业团队一头扎进长三角地区的供应链，寻找厂家重新定制轮胎……这样的非 标零件迭代过程几乎每月都在发生。 擎朗智能目前在日本已经设立200多个技术支持点，确保常规故障能在2小时内响应，24小时内修复。 有一次，一家连锁餐厅的店员发现机器人传感器失灵了。报修后不到2小时，企业的技术服务人员就带 着一台备用机器人赶到现场。新机器人上线前，只需几分钟云端同步，就能接过前任留下的所有"记 忆"，无须重新"培训"。工程师将故障机器人带回技术中心维修，整个流 ...

问题出在哪儿？企业团队跑遍东京的大街小巷想寻个究竟。调研中他们发现，当地的服务节奏较慢，要 求机器人的外观有亲和力，这背后是不同的文化审美差异。 最直接的问题是尺寸太大。国内流行的大体积机器人到了日本根本"走不动"，过道转不过弯。 "我们在国内卖得很好的几款机器人，在这里几乎无处安放。"擎朗智能创始人李通说。团队需要从头开 始，设计一款"更适合日本"的机器人：体形小巧，穿行灵活，语音系统换成日语，屏幕上的动画表情还 能变换。 数据来源：工业和信息化部、海关总署等 版式设计：张芳曼 图为国产服务机器人在日本一家餐厅配送餐品。 擎朗智能供图 正午时分，日本八户市的一家烤肉店里，顾客络绎不绝，烤盘滋滋作响。一台送餐机器人稳稳地穿过紧 凑的餐桌过道，把刚出炉的餐点送到食客面前。"机器人送得稳稳当当，又干净又安全。"烤肉店店长不 由得赞叹。 这台送餐机器人来自中国上海擎朗智能科技有限公司。现在，它已成为烤肉店不可或缺的一员。因人力 成本居高不下、老龄化严重，日本越来越多酒店、饭馆等场所开始引入服务机器人，以弥补人力资源的 缺口。 5年前，擎朗智能开始进军海外市场，本以为凭借先进的技术储备能大干一场。但出人意料的是，日本 ...

正午时分，日本八户市的一家烤肉店里，顾客络绎不绝，烤盘滋滋作响。一台送餐机器人稳稳地穿过紧 凑的餐桌过道，把刚出炉的餐点送到食客面前。"机器人送得稳稳当当，又干净又安全。"烤肉店店长不 由得赞叹。 这台送餐机器人来自中国上海擎朗智能科技有限公司。现在，它已成为烤肉店不可或缺的一员。因人力 成本居高不下、老龄化严重，日本越来越多酒店、饭馆等场所开始引入服务机器人，以弥补人力资源的 缺口。 "很多调整听起来很小，但其实很难。"李通说。比如机器人的轮胎，客户反馈刹车后地板上会有黑色痕 迹。为了解决这个问题，企业团队一头扎进长三角地区的供应链，寻找厂家重新定制轮胎……这样的非 标零件迭代过程几乎每月都在发生。 擎朗智能目前在日本已经设立200多个技术支持点，确保常规故障能在2小时内响应，24小时内修复。 有一次，一家连锁餐厅的店员发现机器人传感器失灵了。报修后不到2小时，企业的技术服务人员就带 着一台备用机器人赶到现场。新机器人上线前，只需几分钟云端同步，就能接过前任留下的所有"记 忆"，无须重新"培训"。工程师将故障机器人带回技术中心维修，整个流程干净利落。 "在日本雇一个服务员，成本可能很高；'雇用'机器人，只需 ...

Core Viewpoint - The article outlines a series of in-depth research calls focused on various aspects of robotics and related technologies, highlighting investment opportunities and industry trends in the mechanical sector [4][5]. Group 1: Robotics and Technology - The research series includes discussions on humanoid robots, their cognitive capabilities, and sensory technologies such as 3D vision and tactile sensors [4]. - Key topics also cover the mechanical components of robots, including efficient motors, precision reducers, and bearings, which are essential for enhancing robotic functionality [4]. - The series emphasizes the growing market for exoskeleton robots and companion robots, indicating a shift towards advanced wearable technology and AI companionship [4]. Group 2: Industrial Applications - The research addresses the logistics sector, focusing on how robotics can enhance supply chain efficiency and the demand for specialized robots in safety and unique operational scenarios [5]. - The article discusses the commercial aerospace sector, highlighting the benefits of high-density rocket launches and the interdependence of rocket and satellite supply chains [5]. - It also explores the potential of controlled nuclear fusion and its impact on capital expenditure in upstream sectors driven by downstream demand [5]. Group 3: Equipment and Machinery - The article reviews the recovery expectations in the tool industry, suggesting a resilient market outlook [5]. - It analyzes the engineering machinery sector, discussing the evolution of domestic sales over the past thirty years and the future trends in electric and unmanned applications [5]. - The research highlights the upcoming boom in mining automation, indicating a shift from technical feasibility to commercial viability [5].

Group 1 - The core viewpoint of the articles highlights the significant growth of China's robotics industry, with a 27.8% year-on-year increase in revenue in the first half of the year, and a continuous position as the world's largest industrial robot application market for 12 consecutive years [1][4] - The production of industrial robots reached 370,000 units, while service robots produced amounted to 8.824 million units, reflecting year-on-year growth of 35.6% and 25.5% respectively [4] - The 2025 World Robot Conference showcased a variety of new robotic functionalities, including medical robots and logistics applications, indicating an increasing integration of robots into daily life [3][6] Group 2 - The application range of industrial robots covers 71 major categories and 241 subcategories of the national economy, while service robots are expanding into areas such as healthcare, delivery, and elderly care [4] - The "Robot World 2.0" in Beijing features the world's first embodied intelligent robot 4S store and a robot-themed restaurant, highlighting the growing presence of robots in consumer environments [3] - Experts emphasize that while current robotic hardware is sufficient, the main challenge lies in the development of embodied intelligent AI, which limits the large-scale application of humanoid robots [6]

值得关注的是，极智嘉近日宣布设立全资子公司北京极智嘉具身智能科技有限公司，正式进军具身智能 这一前沿领域。该子公司将专注于具身智能技术研发和相关产品业务，包括不限于机械手拣货、通用机 器人产品等。集团计划将具身智能技术以及相关通用机器人产品，应用于物流制造等商业对商业业务场 景，与集团现有的物流机器人业务紧密协同，并借助于集团现有的品牌和业务网路快速推进技术和产品 的广泛商用。 消息面上，极智嘉发布业绩预告，预计上半年实现收入9.95至10.3亿元，同比增长27至32%。与此同 时，报告期内公司亏损净额为4500-5500万元，同比大幅收窄90-92%，经调整亏损净额为1000-2000万 元，亦大幅收窄90-95%。业绩改善主要由于仓储移动机器人解决方案业务进一步提升，完成交付项目 增多带动收入明显增长，从而提升毛利水平。其二是期内欧元兑人民币升值带来较多汇兑收益。 极智嘉-W(02590)涨超5%，截至发稿，涨3.6%，报17.57港元，成交额1149.38万港元。 ...

Core Insights - Beijing JiZhiJia Technology Co., Ltd. (referred to as "JiZhiJia") has established a wholly-owned subsidiary, Beijing JiZhiJia Embodied Intelligence Technology Co., Ltd., to enter the embodied intelligence sector, focusing on mechanical picking and general robotics for B2B applications in logistics and manufacturing [1] - JiZhiJia aims to leverage its existing logistics robotics business and brand network to accelerate the commercialization of embodied intelligence technologies and products [1] Group 1: Commercialization and Global Network - JiZhiJia has strong commercialization capabilities, a comprehensive global business network, and a mature service system, which will support the development and implementation of its embodied intelligence technologies [2] - The company has been the largest AMR warehouse robotics solution provider globally for six consecutive years, with projected revenue of 2.4 billion yuan in 2024, nearing profitability [2] - JiZhiJia's existing capabilities and resources provide mature application scenarios and benchmark validation channels for its embodied intelligence technologies, facilitating global deployment and scaling [2] Group 2: Research and Development Strength - JiZhiJia possesses significant technological strength, with 1,867 patents and a research team comprising 41% of its workforce, making it one of the largest R&D teams in the industry [3] - The team has extensive experience in robot product development, particularly in perception, decision-making, control, and multi-agent collaboration [3] - The global application and replication of JiZhiJia's solutions demonstrate the robustness, reliability, and scalability of its technology in complex scenarios [3] Group 3: Data Assets and Scene Understanding - JiZhiJia has a unique advantage in scene understanding and data accumulation, with vast operational data from logistics scenarios and a deep understanding of customer pain points [4] - This practical scene recognition and data advantage will accelerate technology validation and create a self-reinforcing cycle for training and optimizing embodied intelligence models [4] - JiZhiJia's mature commercialization model, top-tier R&D resources, and substantial data assets position it well to capture opportunities in the embodied intelligence market [4]

Group 1 - The core viewpoint is that innovative enterprises in China are becoming a significant force in economic growth, contributing 38.7% to GDP increment and surpassing 45 million in total number [2] - Innovative enterprises have created 120 million jobs over the past year, with leading companies driving 20 million flexible jobs through adaptable employment platforms [2] - Chinese innovative enterprises rank among the top globally in international patent applications, showcasing their technological advancements [2] Group 2 - The "Investment Value Enterprise List 2025" aims to identify innovative enterprises that contribute meaningfully to the Chinese economy, providing valuable industry reference for both primary and secondary markets [3] - The evaluation criteria for the list include five dimensions: financing, technology, product, team, and influence, assessing the overall performance of companies in the industry [5] - The list will feature various categories, including the most investment-worthy enterprises, the most anticipated IPOs, and innovation in sectors like digital economy, high-end manufacturing, and artificial intelligence [7]

Core Insights - The Chinese service robot industry is experiencing significant growth, with a production increase of 13.8% in May, reaching approximately 1.216 million units [1][4] - Chinese service robots are gaining popularity among overseas consumers, particularly in developed countries like Japan and South Korea, where they are utilized for various tasks such as delivery and cleaning [4][5] - The market for service robots is projected to expand significantly, with estimates suggesting that by 2050, 80 million humanoid robots could be used in household services [7][8] Group 1: Market Performance - In May, China's service robot production reached about 1.216 million units, marking a 13.8% increase [1] - The export value of Chinese service robots in 2023 is estimated at 1.51 billion RMB, with 62.5% directed towards Japan and South Korea [4] - The global market share of Chinese products in smart vacuum robots is nearly 50% [4] Group 2: Industry Dynamics - Chinese manufacturers are actively expanding into developed markets, leveraging a complete domestic supply chain to enhance competitiveness [4][5] - The rising labor costs and labor shortages in developed countries are driving demand for service robots [5] - Major Chinese tech companies are investing in AI and robotics, contributing to the establishment of an open AI model ecosystem [6] Group 3: Future Projections - The Chinese service robot market is expected to reach 85 billion RMB this year, with applications expanding into various sectors such as dining, healthcare, and education [7] - By 2030, the humanoid robot market in China is projected to reach 870 billion RMB [8] - Continuous investment in R&D by Chinese manufacturers is anticipated to strengthen their position in the Japanese market [7][8]

Investment Rating - The report maintains a "Buy" rating for the automotive industry, highlighting potential growth opportunities in the sector [10][42]. Core Insights - The logistics robot production by ByteDance has exceeded 1,000 units, indicating a significant growth trajectory with over 100% year-on-year increase in production [4]. - Tesla's Q2 2025 global deliveries reached 384,122 units, showing a quarter-on-quarter improvement of 14.09%, despite a year-on-year decline of 13.48% [5][7]. - The report emphasizes that 2025 is a pivotal year for robot application scenarios, suggesting that companies with platform-based layouts will have competitive advantages [5]. Summary by Sections Market Performance - The automotive sector's performance in the A-share market showed a 0.2% increase, lagging behind the broader market by 1.3 percentage points [15]. - The automotive industry PE (TTM) stands at 35.3, placing it in the 50.2% percentile over the past four years [24]. Industry Data Tracking and Commentary - In June 2025, the average daily retail of passenger cars reached 9.5 million units, reflecting a year-on-year growth of 3% [36]. - The wholesale statistics for June indicated a total of 247.3 million units, with a year-on-year increase of 14% [37]. Recommended Stocks - The report recommends several companies based on their potential in the humanoid robot and automotive sectors, including: - Shuanglin Co., Ltd. (300100.SZ) with a projected EPS of 1.24 for 2024 and a "Buy" rating [10]. - Leadrick (300652.SZ) with a projected EPS of 1.22 for 2024 and a "Buy" rating [10]. - Jianghuai Automobile (600418.SH) with a projected EPS of 0.12 for 2024 and a "Buy" rating [10]. Company Announcements and Industry News - The establishment of a joint venture by Baolong Technology to develop active suspension systems, indicating strategic moves in the automotive technology space [45]. - CATL's battery joint venture in Indonesia is set to produce 15 GWh of batteries, supporting the electric vehicle market [50].