更名、完成股改、接受上市辅导、宣布预期IPO时间，人形机器人第一次离二级市场的门槛这么近。 9月10日，第一财经记者采访多位投资人、机器人企业创业者、供应商等了解到，除了已经宣布IPO预 期时间的宇树之外，至少还有三家人形机器人企业正在进行IPO的筹备，人形机器人争先恐后地跨过一 级市场通向二级市场的门槛，拿下"第一股"。 第一财经记者从多个机器人企业创始人、一级市场投资人以及公司核心人员处获悉，仅在北京和上海两 地，就有至少三家人形机器人企业正在筹备IPO相关的事宜。其中，大部分企业瞄准了港交所。 "因为A股和港股的上市流程和监管条例还是有些不一样，不好判断谁会先上。"一位接近美团龙珠的内 部人士向第一财经记者表示，目前内部核心管理层对包括机器人在内的科技投资项目的态度是"要抓住 规律，抓紧时间搞退出"。 2024年，美团及旗下龙珠资本对宇树科技进行了两次投资，美团龙珠核心管 理层当前对宇树的看法则是"有机会就赶紧上。" 第一个上市，对于人形机器人企业来说，不仅仅是争抢一个"第一股"名号，更重要的是，企业需要在二 级市场融到更多的钱。"出资人的压力肯定存在，但更关键的是，在这个行业里，谁能先上市，大概率 谁 ...

Group 1 - The core viewpoint of the news highlights the active performance of the robotics sector, particularly focusing on the launch of Unitree A2 by Yushu Technology, which showcases advanced capabilities in terrain navigation and load-bearing [1][2] - Yushu Technology's Unitree A2 weighs approximately 37 kilograms, has a maximum running speed of 5 meters per second, and can climb heights of up to 1 meter, demonstrating its robust design for various applications [1] - The upcoming "2025 World Robot Conference" on August 8 will feature over 1,500 exhibits from more than 200 domestic and international robotics companies, indicating a significant industry event [1] Group 2 - Yushu Technology is recognized as one of the earliest companies in China to develop robotic dogs, achieving a global market share of nearly 70% in 2023, which is crucial for its expansion into humanoid robotics [2] - Recent orders from major companies, including China Mobile's procurement of Yushu and Zhiyuan Robotics products worth 124 million yuan, signify a growing demand for robotic solutions across various sectors [2] - The China Securities Regulatory Commission has initiated the listing guidance for Yushu Technology, with a comprehensive evaluation scheduled between October and December to assess its eligibility for public offering [2] Group 3 - Several companies are identified as key suppliers to Yushu Technology, including Changsheng Bearing, which provides self-lubricating bearings and linear actuators, and Zhongdali De, which supplies planetary gear reducers and high-precision gears [3][4] - Other notable suppliers include Aobi Zhongguang, which offers 3D vision cameras and depth engine chips, and Hanwei Technology, which supplies flexible tactile sensors to enhance robot interaction [3][4] - The collaboration between Yushu Technology and Shengtong Co., Ltd. in the educational robotics sector reflects the expanding applications of robotics in various fields [3][4]

Group 1 - The core viewpoint of the news highlights the significant rise of the robotics sector in the capital market, driven by advancements in "embodied intelligence" technology and capital operations, with Shuangwei New Materials (688585.SH) achieving an 11-day cumulative increase of 643.32%, setting a new record for A-share "20cm" limit-up [1] - The robotics concept stock value logic has evolved beyond traditional manufacturing, with a clearer industrial chain ecosystem emerging around the components referred to as "limbs, nerves, cerebellum, and brain" [1] Group 2 - The "limbs" represent the core components, including robotic joints and motion systems, which are fundamental to physical capabilities. For instance, Green's Harmonic (688017.SH) has over 30% market share in harmonic reducers, essential for humanoid robots in high-load scenarios [1] - The "nerves" pertain to environmental perception and signal transmission, relying on sensors and actuators. Companies like Orbbec (688322.SH) provide 3D vision cameras and LiDAR, enhancing robots' environmental awareness [2] - The "cerebellum" involves motion control and AI algorithms, depending on high-performance computing platforms. Zhongdali De (002896.SZ) supplies planetary reducers and servo systems, while companies like Lingyun Optical (688400.SH) develop solutions to optimize robotic motion coordination [3] - The "brain" refers to AI models and data ecosystems, where companies like iFlytek (002230.SZ) enhance robots' semantic understanding through voice interaction technology [3] - The evolution of these components is expected to lead to the emergence of a trillion-level market within the robotics industry chain, indicating a clearer ecosystem [3]

有上市公司曾披露，机器人零部件相关占比仍低。 7月21日，A股机器人板块走高。截至发稿，万得股票数据显示，卧龙电驱（600580.SH）、景兴纸业（002067.SZ）、金发科技（600143.SH）等涨停。 消息面上，上周五晚间，中国证监会官网资料显示，宇树科技已开启上市辅导，由中信证券担任辅导机构。辅导备案报告显示，宇树科技控股股东、实际 控制人为王兴兴，王兴兴直接持有公司23.8216%股权，并通过上海宇翼企业管理咨询合伙企业（有限合伙）控制公司10.9414%股权，合计控制公司 34.7630%股权。 此外，21日，傅利叶发布新款人形机器人产品GR-3，逐际动力、众擎机器人、千寻智能等机器人厂商宣布完成新一轮融资。 中信建投指出，头部国产机器人本体厂商加快推进资本化进程，预计将得到广泛关注。 "最终何时能在内地市场上市，取决于很多方面，希望市场舆论保持客观和理性。"赵楠说道。 景兴纸业（002067.SZ）股价报4.49元/股，总市值56.4亿，换手率25.36%，振幅4.9%，涨幅10.05%。年初至今，公司股价涨幅超过13.38%。根据景兴纸业 （002067.SZ）披露，该公司通过全资子公司间接 ...