【导读】国庆档新片《刺杀小说家2》获宇树科技机器人拍摄支持 中国基金报记者 晨曦 宇树科技的"技术跨界"，持续扩容。 国庆假期，中国基金报记者在观看新片《刺杀小说家2》时注意到，片尾字幕显示，该片获得宇树科技的机器人拍摄支持，且鸣谢单位中也 出现了"杭州宇树科技股份有限公司"的名字。 颇为有趣的是，电影《刺杀小说家2》于9月29日在北京举行"跨次元集结"首映礼。在互动环节，头戴红色假发的宇树科技机器人以"赛博 赤发鬼"的身份登台，在现场不仅展示了一段舞蹈才艺，更是直接向导演毛遂自荐想要出演《刺杀小说家3》。 图片来源：中国基金报记者晨曦 拍摄 此前，宇树机器人因2025年春晚舞台上的转手绢表演圈粉无数，成为全民热议的"科技明星"。而在今年9月举行的北京文化论坛上，宇树 科技创始人王兴兴展望了机器人技术与影视拍摄深度融合的未来图景。 王兴兴表示，预计到明年，机器人基本可以尝试参与电影特技表演，做一些特技演员的动作，同时也能应用于舞台表演等相关领域。"未来 五到十年可能会颠覆大家很多认知，期待跟影视界人士有更多的合作。" 今年3月，G1首次公开表演太极拳、格斗扫腿等动作，通过高精度关节控制实现与人类相似的动作流畅 ...

Core Viewpoint - The robotics index experienced a significant rise, driven by the announcement of the UnifoLM-WMA-0 model by Yushu, which enhances the capabilities of robots through a new world model architecture [1] Group 1: Market Reaction - The robotics index (884126.WI) surged on September 16, with notable stock performances including a limit-up for Wanji Electronics (600699.SH) and over 8% gains for Xiangshan Co. (002870.SZ) and Weichuang Electric (688698.SH) [1] - Other companies such as Aobi Zhongguang-UW (688322.SH) and Changying Precision (300115.SZ) also saw significant increases in their stock prices [1] Group 2: Technological Development - Yushu announced the UnifoLM-WMA-0, part of the UnifoLM series, which is a world model-action architecture designed to enhance robot interaction with their environments [1] - The core feature of this open-source model is its ability to understand physical laws governing robot-environment interactions, including a simulation engine and a strategy enhancement module [1] - Demonstrations indicate that the world model can predict future actions of robots, allowing for video predictions that can be replicated in robotic arms or end-effectors [1]

Core Viewpoint - The article discusses the recent advancements in robotics, particularly focusing on the launch of UnifoLM-WMA-0 by Yushu, which enhances the capabilities of robots to interact with their environment through a new world model architecture [3][7]. Group 1: Market Reaction - The robotics index saw a rise, with companies like Wansheng Electronics hitting the daily limit, and others like Xiangshan Co. and Weichuang Electric increasing by over 8% [3]. - Yushu's announcement has positively influenced the stock performance of related companies in the robotics sector [3]. Group 2: Technological Advancements - The new architecture includes a simulation engine and a strategy enhancement module, allowing robots to predict future actions and adjust accordingly [7]. - The system can anticipate environmental changes and optimize movement, which is crucial for applications in dynamic settings [7]. Group 3: Developer Ecosystem - Yushu's revenue structure heavily relies on educational users, making the development of a robust developer ecosystem essential for its growth [7][8]. - The focus on open-source initiatives and ecosystem building is seen as a necessary step for humanoid robots to establish their market presence before large-scale deployment [8][9].

Group 1 - The core point of the news is the significant rise in the robotics index and the performance of specific companies like Wanji Electronics and Xiangshan Co., following the announcement of UnifoLM-WMA-0 by Yushu, which is part of their UnifoLM series [1][4] - Yushu's new architecture, UnifoLM-WMA-0, includes a world model-action framework that allows robots to understand physical interactions with their environment, featuring a simulation engine and a strategy enhancement module [4] - The world model can predict future actions of robots, enabling them to adjust their movements in real-time based on environmental changes, which enhances their operational efficiency [4][5] Group 2 - The majority of Yushu's orders come from educational users, indicating that developing a robust developer ecosystem is essential for their business model [4] - The financing head from a robotics company suggests that the next two years will see a competitive landscape focused on open-source initiatives and ecosystem building among humanoid robot companies [5] - The emphasis on storytelling and commercial strategies beyond traditional methods is crucial for humanoid robots to succeed in the market [5]

Group 1: Manufacturing Sector Insights - The US ISM Manufacturing Index for August is reported at 48.7, indicating contraction for six consecutive months, with new orders index rising to 51.4, marking its first expansion since early this year [2][3] - Markit Manufacturing PMI shows a stronger performance, suggesting robust expansion in the manufacturing sector, driven by increased sales and a recovery in domestic demand [3] - The cautious attitude towards production expansion and low hiring intentions in the manufacturing sector may exert pressure on the US job market [2] Group 2: Gold Market Dynamics - Non-US central banks' gold holdings have surpassed US Treasury holdings for the first time in 30 years, with gold prices reaching historical highs [4][5] - The World Gold Council anticipates an increase in global central bank gold reserves over the next 12 months, with Morgan Stanley setting a year-end gold price target of $3,800 per ounce [4] - The shift in central banks' asset allocation towards gold reflects concerns over potential financial conflicts and a diversification away from US dollar assets [5] Group 3: Robotics Industry Developments - Yushu Technology plans to submit its IPO application between October and December 2025, with a focus on transparency in operations as it prepares for public listing [6] - The company has expanded its product line from quadruped robots to humanoid robots, aiming to capture new market opportunities [6] - Despite being a leading player in the robotics sector, Yushu Technology faces challenges in commercializing its products, with a significant portion of sales coming from research procurement rather than industrial applications [7] Group 4: State-Owned Enterprises Collaboration - China National Petroleum Corporation (CNPC) plans to transfer 5.41 billion shares to China Mobile, enhancing strategic cooperation and optimizing shareholding structure [8][9] - The share transfer is seen as a common practice in state-owned enterprise reform, with potential for improved collaboration in exploration and sales through technology integration [8] - The government encourages state-owned enterprises to adjust resource allocation and enhance competitiveness, indicating a shift towards more flexible capital management [9] Group 5: New Tea Beverage Market Performance - Six new tea beverage companies reported a total revenue exceeding 30 billion yuan and a net profit of over 5 billion yuan in the first half of 2025, with significant growth in most companies [10][11] - The competitive landscape is shifting as brands focus on cost control and market expansion, particularly in lower-tier markets, while some high-end brands struggle with profitability [10] - The overall market is expected to face intensified competition as external subsidies decline and consumer preferences shift towards value [11] Group 6: Stock Market Trends - The number of new A-share accounts opened in August increased by approximately 165% year-on-year, reflecting growing investor interest amid a rising market [14][15] - The Shanghai Composite Index rose by 7.97% in August, marking its fourth consecutive month of gains, driven by increased trading volume [14] - The trend of "deposit migration" suggests that investors are reallocating funds from savings to the stock market due to lower interest rates and better market performance [15]

Core Viewpoint - Yushutech has officially set its IPO timeline, planning to submit its application to the stock exchange between October and December 2025, with relevant operational data to be disclosed at that time [1][3]. Group 1: IPO Progress - Yushutech is actively advancing its IPO preparations, having completed a shareholding reform in May 2023, changing its name to "Hangzhou Yushutech Co., Ltd." [5]. - The company's registered capital increased from 2.889 million to 364 million RMB, a 125-fold increase, and it completed a C-round financing in June 2023, achieving a valuation of 10 billion RMB [5][10]. - On July 18, 2023, Yushutech registered for IPO guidance with the Zhejiang Securities Regulatory Bureau, marking the official start of its IPO process [7][10]. Group 2: Revenue Structure - For 2024, Yushutech's revenue structure is expected to consist of approximately 65% from quadruped robots, 30% from humanoid robots, and 5% from component sales [3]. - About 80% of quadruped robots are utilized in research, education, and consumer sectors, while the remaining 20% are used in industrial applications such as inspection and firefighting [3]. Group 3: Financial Performance - Yushutech is one of the few profitable companies in the robotics sector, having achieved profitability for five consecutive years since 2020, with annual revenue surpassing 1 billion RMB [10][14]. - The company has attracted significant investment from top domestic institutions, completing multiple financing rounds, including a recent C-round that raised nearly 700 million RMB and increased its valuation to 12 billion RMB [19][20]. Group 4: Product Development and Market Position - Yushutech has established itself as a key player in the robotics industry, launching several innovative products, including the quadruped robot Laikago and the humanoid robot H1, which has gained significant market attention [19][24]. - The company has successfully transitioned from a technology follower to a market leader, particularly in the quadruped and humanoid robot segments, demonstrating its ability to commercialize advanced robotics technology [24][27].

Core Viewpoint - Yushutech's IPO timeline has been officially set, with plans to submit application documents between October and December 2025, marking a significant milestone in the company's growth and attracting attention in the robotics sector [1][2][5]. Group 1: IPO Progress - Yushutech is actively preparing for its IPO, having completed a shareholding reform earlier this year, changing its name to "Hangzhou Yushutech Co., Ltd." [8]. - The company's registered capital increased from 2.889 million to 364 million RMB, a 125-fold increase, and it completed a C-round financing, achieving a valuation of 10 billion RMB [9]. - The company has officially initiated its IPO process by filing for listing guidance with the Zhejiang Securities Regulatory Bureau [11]. Group 2: Revenue Structure - For 2024, Yushutech's revenue structure is expected to consist of approximately 65% from quadruped robots, 30% from humanoid robots, and 5% from component sales [4]. - The quadruped robots are primarily used in research, education, and consumer sectors, while humanoid robots are exclusively utilized in research and education [4]. Group 3: Financial Performance - Yushutech is one of the few profitable companies in the robotics sector, having achieved profitability for five consecutive years since 2020 [16]. - The annual revenue has surpassed 1 billion RMB, reflecting strong market performance and investor interest [17]. Group 4: Product Development - Yushutech has made significant advancements in robotics, launching several key products, including the quadruped robot Laikago and the humanoid robot H1, which showcases the company's technological capabilities [20][29]. - The Go1 quadruped robot has achieved a shipment of over 50,000 units, capturing 60% of the global consumer quadruped robot market [26]. Group 5: Market Position and Recognition - Yushutech has established itself as a leading player in the robotics industry, with its products gaining widespread recognition, including appearances on major platforms like CCTV [36][41]. - The company's innovative approach and successful fundraising efforts have positioned it as a significant contributor to the development of the Chinese robotics industry [47].

Group 1 - The company expects sales of quadruped robots, humanoid robots, and component products to account for approximately 65%, 30%, and 5% of total sales in 2024 respectively [1][2] - About 80% of quadruped robots are used in research, education, and consumer fields, while the remaining 20% are utilized in industrial applications such as inspection and firefighting [2] - The company transitioned from a "limited company" to a "joint-stock company" in May 2025, with a registered capital of 364 million yuan [2] Group 2 - The company completed a Series C financing round in June 2025, with investors including China Mobile Fund, Tencent, Alibaba, and Ant Group, achieving a market valuation exceeding 10 billion yuan [2] - The company has maintained profitability annually since 2020, with annual revenue exceeding 1 billion yuan [3] - The company has a projected annual sales volume of 23,700 quadruped robots in 2024, capturing approximately 69.75% of the global market share [3] Group 3 - The company is preparing for an IPO application expected to be submitted between October and December 2025, with the Zhejiang Securities Regulatory Bureau disclosing that the company has entered the listing guidance phase [1][4] - The company aims to be the first in the humanoid robot sector to list on the A-share market if it submits its IPO application on schedule [4]

Core Viewpoint - Boston Dynamics has upgraded its Atlas robot to incorporate end-to-end AI capabilities, allowing it to understand natural language commands, autonomously plan actions, and handle unexpected situations [1][8]. Group 1: Atlas Robot Capabilities - The new version, Atlas MTS, can recognize and open boxes even when the lid is closed [2]. - It can accurately identify changes in the position of objects, such as boxes being moved [4]. - Atlas can discover and correctly place missing items into boxes, showcasing its advanced perception [6]. - The robot can autonomously respond to unexpected situations, such as parts falling or lids not being closed [21][22]. - It has the ability to learn any action that a human can demonstrate, including tying knots and folding chairs [23]. Group 2: Technical Innovations - The upgrade was developed in collaboration with Toyota Research Institute and is based on a Large Behavior Model (LBM) [8]. - The LBM utilizes a diffusion Transformer model with 450 million parameters, converting various inputs like images and natural language into action commands for Atlas [17]. - The integration of a model predictive controller with a VR interface allows for precise control over a wide range of tasks, from fine motor skills to full-body movements [19][20]. Group 3: Transition to Electric Drive - Boston Dynamics has retired the hydraulic version of Atlas and released an all-electric version, which is more cost-effective and integrates better with AI systems [28][29]. - Electric drive systems offer higher precision, lower energy consumption, and are more compatible with AI learning frameworks [30]. - The transition to electric drive has enabled Boston Dynamics to continuously introduce new movements and capabilities for the robot [31][36]. Group 4: Competitive Landscape - The article also mentions the domestic company Yushu, which has consistently used electric drive technology in its robots, achieving rapid iterations and gaining global recognition [39]. - Yushu's product lineup includes various humanoid robots with different specifications and price points, showcasing a focus on electric drive philosophy [41]. Group 5: Future Outlook - The integration of electric drive technology with AI algorithms is expected to usher in a new era for electric robots [44].

Core Viewpoint - Yushu Technology has announced a new humanoid robot, which is expected to enhance flexibility and precision in movements due to its design featuring 31 degrees of freedom [1] Company Summary - The new humanoid robot stands at 1.8 meters tall and is designed to offer improved performance compared to previous models [1] - Yushu Technology has previously launched three humanoid robots: G1, H1, and R1, with R1 being the latest model released on July 25, priced starting at 39,900 yuan, which has attracted market attention due to its cost-effectiveness [1]