你可能已经在视频里见过它们：有的在工厂里精准抓取零件，有的能流畅完成深蹲、转身，甚至有人已 经预订了一台，等着它明年上门帮忙做家务。 2025年的秋天，人形机器人突然从"科幻电影里的道具"变成了热议的现实。 10月中旬，美国的FigureAI亮出了新款机器人Figure03，软乎乎的织物外壳、轻量化的身体，第一次让 人觉得"机器人和人同住"不是空想。 紧接着，马斯克在特斯拉财报会上的发言惊掉了不少人的下巴——他几乎没提卖得正火的汽车，反而一 个劲说机器人OptimusV3，宣布2026年一季度就发布，还计划年底搞年产100万台的生产线，放话"未来 特斯拉80%的价值都靠它"。 国内的节奏也没慢下来。智元机器人仅凭一款精灵G2，拿下了数亿元订单，和汽车、电子行业的巨头 签了合作，机器已经在工厂里干活了。宇树科技推出了3.99万元的R1机器人，这个价格比一般的机器狗 还便宜，号称年底就能批量交付。 据IT桔子数据，2025年Q3共有243笔投资事件，估算总融资额为198.13亿元。不过热闹背后，现在的真 实情况怎么样了？ 美国银行预测，2025年全球人形机器人出货量可能有1.8万台，和各家喊出的"百万台产能"差了 ...

Core Viewpoint - The launch of the industrial-grade interactive embodied robot, Spirit G2, by Zhiyuan Robotics is positioned as a "global benchmark," supported by significant orders from Junsheng Group and Longqi Technology, raising questions about the authenticity of these claims and the underlying business relationships [1][7][12]. Group 1: Product Development and Features - The Spirit G2 is an upgraded version of the Spirit G1, which was initially aimed at the research and education sectors. The G1 has reportedly shipped over 1,000 units since its release in November 2023, providing a foundation for the G2's development [1][4]. - Key upgrades in the G2 include industrial adaptability, featuring the world's first cross-wrist force-controlled arm and high-precision joint torque sensors, enabling it to respond delicately to external forces. It also boasts a dual-battery hot-swappable system for 24-hour continuous operation [3][4]. - The G2 has completed over 130 extreme tests, demonstrating stable operation in various environments, including temperature ranges from -15°C to 50°C. Its capabilities were showcased through real-time demonstrations in automotive and logistics settings [4][5]. Group 2: Business Relationships and Orders - The significant orders from Junsheng Group and Longqi Technology are not merely from independent third-party clients, as both companies have close ties with Zhiyuan Robotics. Longqi became a shareholder during the B-round financing and holds a 0.7394% stake [1][7][9]. - The partnership with Junsheng Group involves both procurement and component supply, indicating a complex relationship that may not reflect purely market-driven demand [9][12]. - The orders are structured to be completed by the end of 2025, with actual deployment in early 2026, suggesting a preliminary binding based on cooperative intentions rather than immediate market needs [7][12]. Group 3: Team Dynamics and Market Perception - There have been notable departures of key personnel from Zhiyuan Robotics, including co-founders and leaders in critical areas such as design and control, raising concerns about the company's technical capabilities and project progression [5][12]. - The timing of the announcement regarding the large orders coincides with the company's need to bolster market confidence and attract further investment, especially given its recent funding rounds from major investors like Tencent and LG Electronics [12][16]. - The G2's positioning as a "benchmark" product is questioned, as its actual performance and market acceptance will require validation through extensive real-world application and data accumulation over time [16].

Core Viewpoint - The robotics sector is experiencing significant activity, driven by favorable policies and advancements in technology, particularly in AI and humanoid robots, which are expected to benefit from new government strategies aimed at enhancing technological self-sufficiency and innovation [1] Group 1: Market Activity - Major robotics stocks are showing strong performance, with notable increases: - Geek+ (02590) up 8.44% to HKD 28.26 - UBTECH (09880) up 4.57% to HKD 139.7 - Maxon Motor (00179) up 4.29% to HKD 35.48 - SMC (02050) up 0.66% to HKD 39.52 [1] Group 2: Policy and Strategic Goals - The 20th Central Committee's Fourth Plenary Session, held from October 20 to 23, outlined strategic goals to accelerate high-level technological self-reliance and innovation, emphasizing the importance of seizing opportunities from the new technological revolution and industrial transformation [1] - Huatai Securities suggests that industries such as AI and embodied intelligence may benefit from incremental policies in the medium to long term, with a focus on technological self-sufficiency as a key theme [1] Group 3: Product Developments and Orders - The humanoid robotics sector is witnessing a surge in product launches and significant orders, with notable developments including: - The launch of the Spirit G2 by Zhiyuan Robotics in collaboration with Junpu Intelligent - UBTECH securing a major contract worth HKD 1.26 billion [1] - The Yushu full-size humanoid robot H2 showcases impressive capabilities, performing ballet movements and martial arts actions, highlighting advancements in stability and flexibility [1] - Tesla's recent quarterly report revealed that CEO Elon Musk indicated the potential release of the Optimus Generation 3 robot in the first quarter of next year [1]

Core Viewpoint - The robotics sector is experiencing significant activity, driven by favorable policies and advancements in technology, particularly in AI and humanoid robots, with several companies reporting strong stock performance and new product launches [1] Group 1: Stock Performance - Major robotics stocks are active, with notable increases: - Geek+ (02590) up 8.44% to HKD 28.26 - UBTECH (09880) up 4.57% to HKD 139.7 - Maxon Motor (00179) up 4.29% to HKD 35.48 - SMC (02050) up 0.66% to HKD 39.52 [1] Group 2: Policy and Strategic Goals - The 20th Central Committee's Fourth Plenary Session emphasized accelerating high-level technological self-reliance and innovation, aiming to enhance autonomous innovation capabilities and seize opportunities in the new technological revolution [1] - Huatai Securities suggests that industries like AI and embodied intelligence may benefit from incremental policies in the medium to long term, with a focus on technological self-control as a key theme [1] Group 3: Product Launches and Orders - The robotics field is seeing a surge in positive catalysts, with leading domestic humanoid robot companies launching new products and securing significant orders: - Zhiyuan Robotics and Junpu Intelligent released the Spirit G2 - UBTECH won a large order worth HKD 1.26 billion [1] - The Yushu full-size humanoid robot H2 showcases impressive capabilities, performing ballet and martial arts movements with stability [1] Group 4: International Developments - Tesla recently released its quarterly financial report, with CEO Elon Musk indicating that the Optimus Generation 3 may be launched in the first quarter of next year [1]

据官方介绍，精灵G2以工业标准打造，搭载高性能运动关节、高精度力矩传感器，集成空间感知系统，支持快速学习部署，拥有多模态语音交互能力，具 备工业、物流、导览等多场景通用能力。 据悉，精灵G2目前已获来自均胜电子、龙旗科技等企业的数亿元订单，并同步开启首批商用交付，在汽车零部件制造、消费电子精密装配等场景中进行应 用落地。 2025年10月16日，智元机器人举行线上直播发布会，正式发布新一代工业级交互式具身作业机器人智元精灵G2。 同时，在精灵G2发布当天，智元机器人合伙人、高级副总裁、具身业务部总裁姚卯青也与观察者网等一众媒体展开了一场对话，总的来看，本次对话中的 大多问题聚焦在商业化上，并回答了此前外界对智元及具身智能行业的质疑。 从观点上看，姚卯青认为，工业场景是"极具潜力的大市场"，机器人应先落地室内简单场景，靠真机数据驱动迭代，布局工业与海外市场，重视落地实效与 ROI。 相关资料显示，姚卯青毕业于清华大学电子工程系，曾在Waymo、蔚来汽车等智驾部门担任重要职务，更是见证了智驾行业的商业化落地过程。2024年， 看好具身智能的他加入智元，担任具身研究院执行院长，负责AI技术开发及软件研发工作。 现场 ...

记者丨孙燕 编辑丨卜羽勤 在成千上万的场景中，人形机器人商业化的可行路径何在？由易到难，是整个行业心照不宣的选择。 智元机器人合伙人、高级副总裁、通用业务部总裁王闯在2025可持续全球领导者大会期间的圆桌对话中分享了他眼中的人形机 器人落地路线：先进入不与物理世界接触，能发挥人形机器人运动能力、交互能力以及大语言模型、多模态模型优势的场景； 再拓展到与物理世界接触，但规则简单、物体刚性且精度要求较低的场景；最终进入柔性、高精度场景。 具体到不同场景中，也有落地难易之分。 如果说2024年是人形机器人量产元年，2025年则普遍被认为是人形机器人商业化元年。 尤其今年下半年以来，人形机器人订单井喷：优必选中标价值1.26亿元的广西具身智能数据采集及测试中心设备采购及安装项 目；智元机器人获得了来自均胜电子、龙旗科技等企业的数亿元订单；宇树中标中国移动、上海大学等订单。 | 时间 | 企业 | 采购方 | 机器人型号 | 应用场景 | 项目金额 | | --- | --- | --- | --- | --- | --- | | 2025年7月 | | 觅亿(上海)汽车科技有限公司 | 未公开 | 未公开 | 905 ...

记者丨孙燕 编辑丨卜羽勤 如果说2024年是人形机器人量产元年，2025年则普遍被认为是人形机器人商业化元年。 尤其今年下半年以来，人形机器人订单井喷：优必选中标价值1.26亿元的广西具身智能数 据采集及测试中心设备采购及安装项目；智元机器人获得了来自均胜电子、龙旗科技等企 业的数亿元订单；宇树中标中国移动、上海大学等订单。 | 时间 | 企业 | 采购方 | 机器人型号 | 应用场景 | 项目金额 | | --- | --- | --- | --- | --- | --- | | 2025年7月 | | 觅亿(上海)汽车科技有限公司 | 未公开 | 末公开 | 9051.15 月 7 | | 2025年9月 | | 末公开 | Walker S2 | 未公开 | 2.5亿元 | | 2025年9月 | 优必选 | 天奇股份 | Walker S系列 | 末公开 | 3000万元 | | 2025年10月 | | A股某汽车科技公司 | 以Walker S2为主 | 工厂制造、 嵌入式数采工厂产品服务 超3200万元 | | | 2025年10月 | | 广西具身智能数据采集及测试中心 | Walker S2 ...

如果说2024年是人形机器人量产元年，2025年则普遍被认为是人形机器人商业化元年。 尤其今年下半年以来，人形机器人订单井喷：优必选中标价值1.26亿元的广西具身智能数据采集及测试中心设备采购及安装项 目；智元机器人获得了来自均胜电子、龙旗科技等企业的数亿元订单；宇树中标中国移动、上海大学等订单。 由易到难 | 时间 | 企业 | 采购方 | 机器人型号 | 应用场景 | 项目金额 | | --- | --- | --- | --- | --- | --- | | 2025年7月 | | 觅亿(上海)汽车科技有限公司 | 未公开 | 未公开 | 9051.15 万元 | | 2025年9月 | | 未公开 | Walker S2 | 未公开 | 2.5 乙元 | | 2025年9月 | 优必选 | 天奇股份 | Walker S系列 | 末公开 | 3000万元 | | 2025年10月 | | A股某汽车科技公司 | 以Walker S2为主 | 工厂制造、 嵌入式数采工厂产品服务 超3200万元 | | | 2025年10月 | | 广西具身智能数据采集及测试中心 | Walker S2 | 数据采集、测 ...

点击下方 卡片 ，关注" 具身智能 之心 "公众号 编辑丨 具身智能之心 本文只做学术分享，如有侵权，联系删文 >> 点击进入→ 具身智能之心 技术交流群 更多干货，欢迎加入国内首个具身智能全栈学习社区 ： 具身智能之心知识星球 (戳我) ， 这里包含所有你想要的。 2025年10月19日至25日，全球机器人领域顶级学术盛会——2025 IEEE/RSJ智能机器人与系统国际会议（IROS 2025）在杭州成功举办。 本届大会以 "人类 - 机器人前沿" 为核心主题，聚焦人工智能与机器人技术的深度融合创新。作为具身智能的代表企业，智元机器人首次深度参与IROS，通过全 系列产品实机演示、首届国际挑战赛主办，全面展现其全栈技术、生态构建的领军实力，成为大会焦点之一。 全系产品同台实战，多场景落地能力获国际认可 在大会现场展区，智元机器人携精灵系列、灵犀 X2、远征 A2 等全系列产品矩阵亮相，以沉浸式互动体验直观呈现技术落地成果。 智元精灵系列重点呈现了具身机器人作业智能在工业场景的落地应用。其中，精灵 G1 全程无人工干预，完成物流场景全自动供包操作，并与战略合作伙伴德马 科技的飞梭智能分拣机器人实现深度协同。 ...

（文章来源：每日经济新闻） 中信建投表示，智元机器人联合均普智能正式发布精灵G2，并同步开启与均胜电子过亿元采购合同的 首批交付商用，推动交互式具身智能技术落地汽车零部件制造场景，预计国产链条第四季度来自于资本 运作、订单出货、场景落地等消息仍将不断释放，形成边际催化。继续看好板块行情，首推T链，同时 推荐产业趋势更优、放量更快的传感器、灵巧手、垂类应用端、国产供应链条等环节。 机器人ETF（562500）是全市场唯一规模超两百亿的机器人主题ETF，成分股覆盖人形机器人、工业机 器人、服务机器人等多个细分领域，帮助投资者一键布局机器人上中下游产业链。场外联接（华夏中证 机器人ETF发起式联接A：018344；华夏中证机器人ETF发起式联接C：018345）。 今日截至13点38分，机器人ETF（562500）上涨0.40%，表现优于上证指数（-0.08%）与中证机器人指 数（+0.29%）。盘面上，ETF早盘震荡上行，午后一度回踩均线后再度企稳。成交量9.12亿份、成交额 9.23亿元，交投维持活跃。成分股方面，73只持仓股中上涨39只、下跌34只，板块分化明显；中信重工 领涨10%，伟创电气、信邦智能、奥比 ...