21世纪经济报道记者了解到，星海图成立于2023年9月，已累计完成近10轮融资，总融资额近20亿元， 投资方涵盖蚂蚁集团、美团、高瓴创投、IDG资本、今日资本等。据公开市场信息，星海图当前估值已 近百亿元。 登录新浪财经APP 搜索【信披】查看更多考评等级 编辑丨张伟贤 星海图完成了2026年具身智能领域首个股改。 工商信息显示，星海图（北京）人工智能科技有限公司已于2026年1月完成工商变更，正式更名为"星海 图（北京）人工智能科技股份有限公司"，企业类型由"有限责任公司"变更为"股份有限公司（外商投 资、未上市）"。 具身智能正迎来产业化与资本化的双重爆发期。随着技术逐渐成熟、应用场景不断拓宽，越来越多具身 智能企业或加速IPO节奏，或通过改善资本化结构获取更多发展资金。 在专业层面，这类工商变更被称为股份制改造（简称股改）。根据我国相关法规，有限责任公司不能直 接上市，股改后企业将以股份划分权益，建立起股东大会、董事会、监事会等规范的治理结构，实现所 有权与经营权的分离。 一般而言，股改后，企业在股权结构、治理规范、信息披露等方面达到对接资本市场的基础要求，不仅 为后续IPO上市扫清了主体资格障碍，也为 ...

记者丨 孔海丽 编辑丨张伟贤 星海图完成了2026年具身智能领域首个股改。 工商信息显示，星海图（北京）人工智能科技有限公司已于2026年1月完成工商变更，正式更名为"星海图（北京）人工智能科技股份有限公 司"，企业类型由"有限责任公司"变更为"股份有限公司（外商投资、未上市）"。 21世纪经济报道记者了解到，星海图成立于2023年9月，已累计完成近10轮融资，总融资额近20亿元， 投资方涵盖蚂蚁集团、美团、高瓴创 投、IDG资本、今日资本等 。 据公开市场信息，星海图当前估值已近百亿元。 | 2025-07-09 · | 融资金额:超1亿美元 | | --- | --- | | A+++轮 | 凯辉基金、今日资本、亦庄国投、 | | 相关新闻 > | BV百度风投、襄禾资本、美团战略 | | | 投资部、IDG资本、美团龙珠、北 | | | 京机器人产业投资基金 | | 2025-07-08 | 融资金额:未披露 | | A++轮 | 今日资本、米哈游、无锡创投、襄 | | 相关新闻 > | 禾资本、美团龙珠、中金资本私募 | | 2025-04-03 | 融资金额:未披露 | | A+轮 | 凯辉基金、海 ...

Core Insights - Xinghai Map has completed its share reform and changed its name to "Xinghai Map (Beijing) Artificial Intelligence Technology Co., Ltd.", marking it as the first company in the embodied intelligence sector to do so this year [2] - The shift from a limited liability company to a joint-stock company indicates a transition of capital logic from the primary market to the secondary market for companies focused on "embodied intelligence + model closed-loop" [2] - The company has raised nearly 1 billion yuan in valuation within a year, with backing from major investors including Ant Group, Meituan, Hillhouse Capital, IDG, Lenovo Ventures, and Today Capital [2] Company Development - Xinghai Map's R&D system features a "self-research integration" characteristic, having launched the end-to-end dual-system VLA model G0 and the world's first plug-and-play upgraded version G0 Plus [3] - The Galaxea Open-World Dataset has been downloaded over 500,000 times, and the company's robotic data platform ranks among the top globally [3] - The company has secured large-scale orders from leading domestic automotive and logistics companies, indicating its potential for an IPO narrative transition [3] Financial and Industry Context - Midstream machine manufacturers are currently in a high-cost, high-risk phase, with financial pressures greater than those faced by upstream component manufacturers [4] - The commercial capabilities of such companies, including product integration, software and hardware supply chain collaboration, and downstream customer scenario collaboration, are critical [4] - While Xinghai Map has made progress in deployment and data openness, its ability to achieve standardized large-scale delivery and stable software and hardware iteration paths remains to be observed [4] Founding Team and Industry Trends - The founding team, led by CEO Gao Jiyang, has a strong academic background from Tsinghua University and practical experience in leading autonomous driving companies [5] - This combination of "Tsinghua + overseas PhD + frontline engineering practice" is rare in the field of embodied intelligence, which requires high interdisciplinary integration [5] - Policy and industry trends are shifting towards emphasizing "soft and hard integration," "engineering deliverability," and "industry empowerment" starting in the second half of 2025 [5] Market Signals - The share reform of Xinghai Map signals the overall entry of the embodied intelligence sector into a "realization period" [5] - The primary market may tolerate immature technology as long as the narrative is fresh, but the secondary market requires engineering achievements to support the narrative [5] - Companies lacking complete closed-loop capabilities and unable to cross high delivery thresholds will struggle to enter the IPO channel [5][6]