【市场复盘】 2. AI+消费机器人公司灵宇宙今日宣布，已于近期完成2亿元PreA轮系列融资。本轮融资由上海国际集 团旗下国方创新、国泰海通、广发信德、滴滴出行、拉卡拉旗下考拉基金、润建股份等一众头部金融机 构和上市公司参投，老股东超额追投。 本周一 ，科创人工智能ETF华夏开于1.317元，最新报1.325元，小幅上涨0.53%，维持红盘表现。持仓 股表现分化：18只上涨、12只下跌，结构性机会突出。涨幅端以星环科技、芯原股份、福昕软件等为代 表的AI算力与软件方向领涨，其中星环科技涨幅超11%；下跌端最大跌幅约4.6%，波动可控。流动性方 面，成交活跃度较高，成交量达到1611万份、成交额约2129万元，延续此前高换手特征，交投保持平 稳。机器人ETF小幅高开于0.961元，最新报0.966元，微涨0.21%。从分时结构看，昨日尾盘呈现"震荡 下探—回稳反弹"形态，价格多次沿分时均线附近震荡，短线呈现弱修复格局，整体仍处于区间整理区 间。持仓股方面，45只上涨、28只下跌，涨多跌少结构明显，板块内部强弱分化存在但整体偏暖。领涨 方向集中在机器人自动化设备与核心零部件，伟创电气、海目星等上涨超5%；跌幅端宏 ...

Investment Rating - The report maintains an "Outperform" rating for the humanoid robot industry and related companies [5][10]. Core Insights - The humanoid robot sector is expected to see significant growth, with companies like Zhiyuan Robotics targeting thousands of units for their new G2 model in 2026, having already secured orders worth hundreds of millions [1][17]. - The report emphasizes the importance of identifying companies with strong market positions and value propositions, particularly those in the Tesla supply chain and other key players in the humanoid robotics space [2][5]. Industry Dynamics - The humanoid robot industry is witnessing rapid advancements, with multiple companies releasing new models and securing substantial orders. For instance, Zhiyuan's G2 robot has already received orders worth billions and is set to dominate the market [1][3]. - The AI infrastructure sector is also highlighted, with Microsoft signing a $14 billion deal for AI cloud services in Europe, indicating strong demand for AI technologies [3][19]. Company Dynamics - Key companies to watch include Weiman Sealing, Feirongda, and Longxi Co., which are positioned well within the humanoid robotics supply chain [2][4]. - Recent contracts and partnerships, such as the strategic cooperation agreement signed by Yongmaotai with a leading humanoid robotics firm, further illustrate the industry's growth potential [4][23]. Profit Forecasts and Valuations - The report provides profit forecasts for several key companies, with many rated as "Outperform." For example, Longxi Co. is projected to have an EPS of 0.41 in 2025, with a PE ratio of 58 [10][25]. - The overall market sentiment remains positive, with many companies in the sector showing strong growth potential and favorable valuations [10][25].

【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇10月20日｜谈及远征系列机器人出货量以及未来规划，智元机器人合伙人、高级副总裁、通用业 务部总裁王闯表示，远征整个系列一共出货了1000台左右，明年可能会有几千台，"我们现在已经是全 球人形机器人里出货量最大的企业，甚至比马斯克(出货量)更大。"王闯透露，今年智元机器人的营收 规模相比去年增长了好多倍，可能十倍都不止，规模正在指数级增长。 (责任编辑：宋政 HN002) ...

Group 1 - A certain automotive company is implementing a two-shift system in its R&D department to compress the vehicle development cycle from over 20 months to within 12 months [2][3] - The company has identified four core bottlenecks in its development process, including difficulties in matching intelligent driving software and hardware, and delays in data release and prototype delivery [3] - Concerns have been raised about the potential quality risks associated with the push for speed in development, reminiscent of past issues with insufficient validation before market launch [3] Group 2 - Anshi Semiconductor has faced operational disruptions, including salary cuts for Chinese employees and a complete system shutdown, amid escalating tensions with its parent company [5][6] - The company has assured employees that domestic operations and salary benefits remain normal, emphasizing compliance with Chinese laws [5] - Reports indicate that Anshi's Chinese team has been forced to adopt independent measures to maintain supply chains and ensure customer service amid the crisis [6] Group 3 - NIO's CEO Li Bin has emphasized the importance of achieving profitability in the fourth quarter of 2025, breaking down the goal into specific actions related to marketing, supply chain management, and software delivery [11] - The company is experiencing a resurgence in confidence as new models are launched and sales improve, with Li Bin urging the team to focus on long-term competitiveness [11] Group 4 - Xiaohongshu has raised its employee stock option price to $25 per share, marking a significant increase from previous valuations and reflecting the company's growth trajectory [12] - The company has conducted multiple rounds of stock option buybacks, indicating strong financial health and a commitment to employee incentives [12] Group 5 - The average price of new energy vehicles in China has dropped below 160,000 yuan, reflecting a significant decrease from previous years and making these vehicles more accessible to consumers [13] - The decline in prices is attributed to advancements in the supply chain and government policies aimed at promoting electric vehicle adoption [13] Group 6 - Nvidia's CEO Jensen Huang announced the company's complete exit from the Chinese market, resulting in a dramatic drop in market share from 95% to 0% due to U.S. export controls [26][27] - Huang expressed concerns that U.S. policies could harm both American and Chinese markets, highlighting the potential long-term implications of such restrictions [27] Group 7 - Apple CEO Tim Cook announced efforts to introduce Apple Intelligence in China, indicating the company's commitment to expanding its AI offerings in the region [28] - Cook emphasized the positive impact of AI on society and the importance of maintaining innovation and passion in technology [28]

Core Viewpoint - The future of robotics will feature a coexistence of wheeled and bipedal robots, with significant advancements in technology leading to rapid commercialization and diverse applications in various sectors [6][18]. Group 1: Industry Development - The robotics industry is evolving faster than expected, with humanoid robots transitioning from static displays to dynamic performances within a year, overcoming technical challenges previously thought to take 3-5 years [5]. - The company has identified eight practical scenarios for robot deployment, focusing on areas with urgent market demand and achievable technology, such as box transportation and entertainment [5][20]. - AI, particularly embodied intelligence, is revolutionizing robot development, significantly reducing the time and resources needed for training robots to perform tasks like walking and dancing [8]. Group 2: Market Dynamics - The humanoid robot industry is expected to be larger than the automotive industry, with no single company likely to dominate due to diverse regional demands and applications [17]. - The company claims to have the largest humanoid robot shipment volume globally, surpassing competitors like Tesla, with projections for substantial growth in revenue and production in the coming years [18][20]. Group 3: Technological Challenges - The mass production of humanoid robots is more complex than consumer electronics due to the immature supply chain and the high number of variables involved in robot design and functionality [11]. - Ensuring consistency and reliability in robot performance is a significant challenge, requiring extensive calibration and quality control [11]. Group 4: Future Applications - The company is focusing on developing affordable robots for various demographics, including the elderly, to ensure broad access to technological benefits [9]. - The timeline for achieving advanced functionalities in elder care robots is projected to evolve over the next few years, with initial applications focusing on companionship and entertainment [27].

Core Insights - The 2025 Sustainable Global Leaders Conference was held in Shanghai from October 16 to 18, focusing on sustainable development and innovation in various industries [1] Company Insights - The company, Zhiyuan Robotics, has shipped around 1,000 units of its "Expedition" series robots this year, with expectations to reach several thousand units next year, making it the largest humanoid robot manufacturer globally, surpassing even Tesla's Optimus [3][4] - The revenue of Zhiyuan Robotics has reportedly increased significantly this year, potentially by more than ten times compared to last year, indicating exponential growth in the company's scale [4] - The company emphasizes the importance of producing affordable robots to bridge the "digital divide" in the AI era, ensuring that a wide range of consumers can access their products [3][5] Industry Insights - The humanoid robot industry is expected to be larger than the automotive industry, with no single company likely to dominate the market due to diverse consumer needs and applications [7] - The industry is characterized by a wide variety of demands, which allows for multiple companies to thrive, particularly those that can cater to specific regional or niche markets [7] - The development of humanoid robots is progressing rapidly, with significant advancements in mobility and interaction capabilities, although the ability to fully replace human labor remains a challenge [5][6]

谈及远征系列机器人出货量以及未来规划，智元机器人合伙人、高级副总裁、通用业务部总裁王闯在与 新浪科技等媒体沟通中表示，远征整个系列一共出货了1000台左右，明年可能会有几千台，"我们现在 已经是全球人形机器人里出货量最大的企业，甚至比马斯克（出货量）更大。" 专题：2025可持续全球领导者大会&首届绿色产业与可持续消费博览会 2025可持续全球领导者大会于10月16日-18日在上海市黄浦区世博园区召开。 新浪声明：所有会议实录均为现场速记整理，未经演讲者审阅，新浪网登载此文出于传递更多信息之目 的，并不意味着赞同其观点或证实其描述。 责任编辑：李昂 ...

2025可持续全球领导者大会于10月16日-18日在上海市黄浦区世博园区召开。谈及远征系列机器人出货 量以及未来规划，智元机器人合伙人、高级副总裁、通用业务部总裁王闯在与新浪科技等媒体沟通中表 示，远征整个系列一共出货了1000台左右，明年可能会有几千台，"我们现在已经是全球人形机器人里 出货量最大的企业，甚至比马斯克（出货量）更大。" （新浪科技） ...

无锡惠山古镇映月里街区，一间1300平方米的体验中心内，游客被机器人店长带领着四处参观，智元的"远征""精灵""灵犀"系列机器人化身服 务官，或在炫技舞台上表演后空翻、精准避障等高难度硬核动作，或与游客对弈棋牌、竞技冰壶，或是上演上海戏剧学院编排的主题剧……这 就是近日刚开业的全球首个开放式具身智能体验中心的场景。 据悉，这家由智元机器人推出、聚焦人形机器人沉浸式互动的场所，是业内首个面向C端消费者开放的具身智能文旅融合项目。它采取"日场 +夜场"双运营模式，白天聚焦家庭亲子与大众游客群体，打造轻松趣味的机器人主题演出；夜晚则转型"科技风 Livehouse"，搭配轻食、饮品服 务，精准吸引年轻消费群体打卡。 技术体系大阅兵 从实验室走向文旅消费场景，不仅是智元机器人商业化的重要一步，也是其技术体系的集中"阅兵"。 在舞台上表演各种炫技动作的灵犀X2，在今年9月中旬曾因一段短视频在业内引发震动：它在平地上靠双脚蹬地跃起，在空中完成连续转体与 翻腾动作后，稳稳落地，成为全球首个实现"韦伯斯特空翻"的人形机器人。 这项源自竞技体操的高难度动作，要求机器人在0.7秒内完成角动量控制、姿态调整与落地缓冲，被业内视为运 ...

9月23日晚，上纬新材发布公告，原控股股东协议转让公司股份事宜已完成过户登记手续。这意味着智 元机器人团队正式入主上纬新材，邓泰华也随着成为新的实控人。 根据协议，智元恒岳拟以协议转让的方式受让SWANCOR萨摩亚持有的1.01亿股上纬新材的股份。致远 新创则将以协议转让的方式分别从SWANCOR萨摩亚、金风投控受让240.09万股、1776.73万股公司股 份。三笔协议转让完成后，"智元系"将持有上纬新材29.99%的股份，也就是此次公告内容。 此外，在股份转让的基础上，智元恒岳还将通过部分要约收购的方式进一步增持上纬新材的股份。根据 公告，智元恒岳拟要约收购股份数量为1.49亿股，占总股本37%。其中，SWANCOR萨摩亚已承诺以其 所持上市公司33.63%的股份就本次要约收购有效申报预受要约。 也就是说，等待所有交易完成后，智元恒岳与致远新创合伙合计持股比例至少为63.62%，至多将达到 66.99%。按照当前近440亿市值来计算，该部分股份价值将达到270亿元以上，这个数字甚至要远高于 此前智元机器人150亿元的估值。 至于转让成本，按照协议7.78元/股的转让价格和要约收购价格计算，所有交易的总价款 ...