专注拆解企业运作逻辑、行业趋势密码，提供有深度的商业洞察。关注我们，解锁商业世界的"切片视角"。 详细会议介绍参看往期文章： （点击蓝字跳转） 一文看懂2025智能机器人关键技术大会（IRCTC）全景！专家报告、学术征文、青年交流全揭晓！ 展览展示｜抢位2025智能机器人关键技术大会！高曝光商务合作虚位以待，共赴解锁新机遇 以下文章来源于商业切片 ，作者商业切片 商业切片 . 9大期刊联合征文｜投稿2025智能机器人关键技术大会，年底正刊发表！ 特斯拉Optimus在流水线上搬运零件，小鹏Iron在车间装配P7车型，广汽GoMate在执行巡检——当智能驾驶赛道日渐拥挤，这些造车企业正集体将目光投向人形机器 这究竟是技术积累的自然溢出，还是资本在红海竞争中编织的新故事？ 车企入局 一场跨界转型的多维实践 2025年上海车展上，特斯拉、小鹏、广汽的机器人展台人头攒动。从技术路径到落地场景，不同玩家正走出截然不同的转型之路，而工业场景，成为现阶段 最集中的"试验田"。 1.自研：用造车的"看家本领"造机器人 对于特斯拉、小鹏、广汽这些在智能驾驶领域深耕多年的企业来说，造机器人更像是一场"技术复用"的实践。 特斯拉的 ...

撰 文 / 玖 零 设 计 / 赵 昊 然 当特斯拉将Autopilot算法注入Optimus的"大脑"，广汽GoMate用汽车电驱技术重构机器人关节，一 场由车企主导的"造人"革命正在重塑全球产业格局。据摩根士丹利预测，到2030年全球人形机器人 市场规模将突破千亿元，其中，中国凭借汽车产业链优势，有望占据半壁江山。 车企的跨界不仅是技术复用，更涉及人才迁徙与生态重构，这场从"四个轮子"到"两条腿"的进化， 不仅是技术跨界，更是一场关于人类生产方式的深刻重构。 技术复用：从造车到"造人"的底层逻辑 车企跨界人形机器人并非偶然，其本质是工业化能力向智能化场景的系统性迁移。这种跨界背后， 隐藏着技术复用、供应链共享和战略重构的深层逻辑。 1.1 技术同源性的深度挖掘 智能汽车与人形机器人在感知、决策、执行三大核心环节的技术架构高度重叠。尤其是软件层面， 智能汽车领域积累的环境感知、路径规划、动态决策等算法，可直接迁移至人形机器人开发。这种 技术外溢效应，本质上是汽车产业在智能化进程中形成的"技术资产"向机器人领域的自然延伸。 2019年，特斯拉Autopilot团队的工程师张宇（化名）被调往机器人Optimus ...

Core Insights - The first humanoid robot fighting competition was held in Hangzhou, highlighting the increasing visibility of humanoid robots in the global tech arena [1] - The humanoid robot industry in China is rapidly developing, with 109 listed companies in the sector and a total market capitalization of 4.69 trillion yuan as of May 28 [1] - The industry is expected to penetrate various fields such as industrial manufacturing, healthcare, home services, and education, indicating significant long-term growth potential [1] Policy Support - The Chinese government is actively promoting the humanoid robot industry, with the Ministry of Industry and Information Technology issuing guidelines aiming for a preliminary innovation system by 2025 and a robust supply chain by 2027 [2] - Local governments in cities like Beijing, Shanghai, and Shenzhen are launching supportive policies and establishing industry funds to foster development in humanoid robotics [2][3] - Over ten local governments have set up industry funds ranging from 200 million to 10 billion yuan, focusing on core components and innovative applications in the robotics sector [3] Company Developments - Companies like Yushu Technology and Zhongqing Technology are emerging in the humanoid robot space, with some achieving mass production [4] - Major firms such as Tencent and Huawei are investing in technology R&D and application scenarios to accelerate the deployment of humanoid robots across various sectors [4] - Among the 109 listed humanoid robot companies, the majority are in the machinery sector, followed by automotive and power equipment industries [5] Industry Challenges - The humanoid robot sector is still in the technology validation and commercialization phase, with current products not yet achieving true economic viability [6][7] - Challenges include the need for advanced motion control, perception capabilities, and decision-making technologies, as well as high R&D and production costs [6] - Safety in human-robot interaction and the need for efficient energy management systems are critical areas requiring further development [6] Future Outlook - The humanoid robot market is projected to reach a scale of 500 billion to 1 trillion yuan by 2045, with significant advancements expected in technology and application [7] - Short-term applications are anticipated in industrial manufacturing and service sectors, with long-term penetration into household scenarios [7] - The integration of humanoid robots into the economy is expected to become a core growth engine by 2035, reshaping global industrial dynamics [7]

本文来源：企业公告 在固态电池行业积极布局低空经济等新兴应用场景的同时，机器人市场作为另一重要终端方向，也正快 速发展。 -广告- 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 5月27日，合源锂创发布公告宣布，公司正式向建筑机器人企业金皇冠智能科技（苏州）有限公司（以 下称："金皇冠智能科技"）交付了首批建筑机器人固态动力电池包。这是固态电池在建筑机器人领域 的首次批量应用，也标志着合源锂创在AI应用场景又拿下一城。 合源锂创介绍，建筑行业面临用工短缺和安全风险等问题，推动了混凝土整平机器人、混凝土抹光机器 人、建筑室内清洁机器人等建筑机器人的发展。 然而，建筑机器人在应用中存在电池能量密度不足和安全性方面的挑战。例如，传统4KWh液态电池包 的重量约为22kg，可能增加能耗并影响换电操作。此外，建筑施工现场存在高温、碰撞、震动等风 险，以及电池频繁充放电和快速更换的需求，都对电池的安全性提出了更高要求。 合源锂创针对建筑机器人的需求，开发了350Wh/kg系列固态电池解决方案。该方案旨在提供更高的 能量密度，相较于传统锂电池，电池包重量可减轻约40%。同时，合 ...

人形机器人可以推动更智能的自动化，降低成本，并提高人类劳动力的生产率。然而，如果公司在投资前没有提出正确的问题，引入人形机器人可能会成 本高昂且适得其反。人形机器人的广泛应用之路充满挑战。技术障碍依然存在，包括硬件集成、能量存储、安全以及人机协作的复杂性。围绕人工智能使 用和未来工作的伦理担忧进一步增加了复杂性。企业高管如何确定是否应该投资人形机器人呢？ 受生成式人工智能、机电一体化和仿真技术进步的推动，通用人形机器人的快速发展可能会重塑各个行业的劳动力格局。与那些为特定任务、通常是在受 控工业环境中建造的机器人不同，通用人形机器人将能够执行多种不同任务，从制造车间到医院和酒店，无需进行大幅重新配置或重新编程。它们类人的 外形使其适合为人类设计的环境，并且能比许多公司预期的更快地与人协作。 人形机器人技术的最新进展并非源于单一的技术飞跃，而是更经济实惠且先进的硬件与软件融合的结果。主要参与者正在大力投资，以推动人形机器人的 大规模部署。例如，英伟达的GR00T蓝图为广泛的人形机器人模型进行模拟训练。特斯拉的擎天柱据称在其工厂中承担组装和实时库存管理任务，最早可 能在2026年对外推出。 我们的研究和项目表明， ...

Core Viewpoint - The automotive industry is increasingly focusing on humanoid robots, which are becoming a central theme at major auto shows, indicating a shift in narrative and growth opportunities for car manufacturers [1][2]. Group 1: Industry Trends - Major auto shows have seen humanoid robots taking on roles traditionally held by car models, highlighting a growing interest in robotics within the automotive sector [1]. - At least six car manufacturers have developed or are collaborating on humanoid robots, with many more investing in or planning to enter this space [1]. - The automotive industry is experiencing a slowdown in electric vehicle sales, prompting companies to seek new growth narratives through robotics [1][10]. Group 2: Company Developments - Honda initiated its humanoid robot project in 1986, leading to the creation of ASIMO, which laid the groundwork for future developments despite its eventual discontinuation [3]. - Tesla's Optimus humanoid robot project was announced in 2021, with plans to produce 5,000 units by the end of 2024 and ramping up to 50,000 units by 2026 [4]. - Companies like Xiaomi, XPeng, and GAC have launched their own humanoid robots, with Xiaomi's CyberOne being one of the earliest examples from a tech company entering the automotive space [5][6]. Group 3: Investment and Collaboration - Investment in humanoid robotics is a significant trend, with established automotive companies backing startups to leverage their supply chain advantages [7]. - The humanoid robot industry is characterized by a collaborative ecosystem where automotive companies and robotics firms can complement each other's strengths [12][14]. - Companies are exploring various applications for humanoid robots, including factory automation and customer service roles, to enhance operational efficiency [10][15]. Group 4: Market Dynamics - The overlap between automotive and robotics industries allows for cost-effective development, as many components used in cars can be repurposed for humanoid robots [8]. - The automotive sector's existing infrastructure and cash flow provide a competitive advantage in rapidly advancing robotics projects compared to startups that rely heavily on external funding [13]. - The shift towards humanoid robots is seen as a response to the need for diversification in the face of declining growth rates in traditional automotive sales [11].

恒瑞医药香港IPO公开发售部分获约455倍认购。恒瑞医药昨日暗盘高开，收盘涨32.24%，报58.25港 元，成交额7.51亿港元。 【大势展望】 纳斯达克中国金龙指数跌1.18% 隔夜美股道琼斯工业平均指数比前一交易日下跌1.35点，收于41859.09点，跌幅接近于零；标准普尔500 种股票指数下跌2.60点，收于5842.01点，跌幅为0.04%；纳斯达克综合指数上涨53.09点，收于18925.73 点，涨幅为0.28%。大型科技股多数上涨，特斯拉涨近2%，谷歌涨超1%，微软、英伟达、亚马逊、 Meta涨幅不足1%。 【今日头条】 恒瑞医药(01276)以上限定价 公开发售获455倍认购 智通财经APP讯，恒瑞医药(01276)公布配发结果，公司全球发售约2.245亿股股份，香港公开发售占 21.50%，国际发售占78.50%。每股发售价为44.050港元，全球发售净筹约97.473亿港元。每手200股， 预期H股将于香港时间2025年5月23日(星期五)上午九时正开始在联交所买卖。 热门中概股多数收跌，纳斯达克中国金龙指数跌1.18%。小鹏汽车跌超7%，世纪互联跌超6%。恒生指 数ADR下跌，按比例 ...

人形机器人系列（九）： 从Components到Functions，看手 眼协作、大小脑协同的投资机会 长江证券研究所机械研究小组 2025-05-06 %% %% %% %% research.95579.com 1 证券研究报告 • 证券研究报告 • 评级 看好 维持 分析师 赵智勇 分析师 倪蕤 分析师 刘晓舟 SAC执业证书编号：S0490517110001 SAC执业证书编号：S0490520030003 SAC执业证书编号：S0490524030001 SFC执业证书编号：BRP550 分析师及联系人 %% %% research.95579.com 2 01 人形机器人产业快速推进，仍存 在应用痛点 02 Functions仍有瓶颈约束，视觉+ 运控+手眼协同为重要细分架构 目 录 %% research.95579.com 3 01 人形机器人产业快速推进，仍存在应用痛点 %% %% %% %% %% %% research.95579.com 4 人形机器人首先是要造好一个人形机器人本体 01 ➢ 2022年10月特斯拉提出人形机器人OPtimus硬件设计方案，遵循第一性原理，包括14个旋转 ...

摩根士丹利近期中国工业研究团队推出"人形机器人洞察"系列报告之一《人形机器人：一个 5 万亿美元的全球市场》。 根据其全球人形机器人模型，预计到 2050 年将有 10 亿台人形机器人投入使用，年收入达 5 万亿美元。大摩指出，这对全 球制造业、供应链和地缘政治的影响尚未得到充分认识。 谁会在这一领域占据主导地位？ 预计到 2050 年，全球将有 10 亿台人形机器人，年收入达 5 万亿美元。这一模型是在大摩此前发布的美国和中国市场规模 模型基础上的扩展，引入了世界其他地区和家用人形机器人的假设，并借鉴了中国工业团队最新的成本与技术分析。 | | | | | Cumulative Adoptions (k's) | | | | | --- | --- | --- | --- | --- | | Classification | 2036 | 2040 | 2044 | 2050 | | Low Income | 246 | 1.099 | 3.901 | 14.006 | | Lower Middle Income | 3.745 | 16.248 | 57,553 | 204.498 | | Upper M ...

Core Insights - The 2025 Shanghai International Auto Show showcased humanoid robots as a highlight, indicating a growing trend in the automotive industry towards integrating AI and robotics [1][3] - Major automotive companies, including Xiaopeng Motors and Chery, are actively developing humanoid robots for various applications, signaling a shift in focus towards this technology [2][3] Group 1: Humanoid Robots at the Auto Show - The 2025 Shanghai Auto Show featured nearly 1,000 exhibitors from 26 countries, with around 1,300 vehicles displayed and over 100 new models launched [1] - Xiaopeng Motors introduced its humanoid robot IRON, which stands 178 cm tall, weighs 70 kg, and has 22 degrees of freedom, aiming for industrial mass production by 2026 [1] - Chery's humanoid robot Mornine gen-1, developed by the aimoga team, is 167 cm tall, weighs 65 kg, and has 41 degrees of freedom, designed for various interactive roles [2] Group 2: Industry Trends and Developments - Automotive companies are rapidly expanding their focus on humanoid robots, with GAC Group launching its third-generation robot GoMate, featuring innovative mobility structures [3] - Tesla plans to begin trial production of its humanoid robot Optimus, with a target of producing 5,000 units this year and 50,000 by 2026, highlighting the strategic importance of robotics for the company [3] - BYD is investing in humanoid robotics through both self-development and acquisitions, having become a significant shareholder in several robotics firms [4] Group 3: Market Potential and Challenges - The global humanoid robot market is projected to reach $7 trillion by 2050, with an estimated 648 million units, potentially matching the current global car ownership [4] - Despite the promising market outlook, experts caution that the humanoid robot industry is still in its infancy, with significant uncertainties and potential for market bubbles [4]