界面新闻记者 | 陈慧东

renxingjiqirenzhishu（bk1184）3lianzhanghou，12yue12rixiadiediaozheng。dangri，renxingjiqirengainianxiadie2.18%，zhulizijinliuchu49.4yiyuan，gainiangu12zhishangzhang，46zhixiadie。yijiahe（603666.sh）、wuzhouxinchun（603667.sh）、mingkejingji（001319.sz）zhangting，fendakeji（002681.sz）dieting。

zijinliuxiangfangmian，renxingjiqirenbankuaizhulizijinjingliuchujuqiandefenbieweifendakeji（10.08yiyuan）、shanghaidianqi（601727.sh）（4.31yiyuan）、tianyushuke（002354.sz）（4.11yiyuan）、hanyujituan（300403.sz）（3.95yiyuan）、aifute-u（688165.sh）（3.32yiyuan）。

xiangguanetffangmian，jiqirenetf（159770）jiezhishoupandie0.78%，chengjiaoechao1.45yiyuan，huanshoulv14.28%，panzhongjiaotouhuoyue。zijinliuxiangfangmian，windshujuxianshi，gaietflianxu3rihuozijinjingliuru。

duojiajigouyanbaorenwei，bansuizheduodixiangjichutaijiqirenchanyefazhanxiangguanzhengce，renxingjiqirenchanyehuajiasu。

• 信达证券研报显示，一方面，从产业链角度来看，国内人形机器人有望加速，华为入局国内人形机器人产业链，认为有望帮助国内企业构建人形机器人生态。此外，以长安等为代表的车企入局也有望丰富国内机器人产业化落地。另外，特拉斯人形机器人再升级，灵巧手自由度提升至22个自由度，认为方案的更改有望探索更多产业可能，手部有望采取行星齿轮箱丝杠+腱绳方案，电机有望试验无刷有齿槽电机等经济性方案。未来，特拉斯发力手部触觉传感集成，短期来看手部触觉传感器有望进一步迭代，长期来看电子皮肤等潜力方案有望引起重视。

wanlianzhengquanzishentouguqufangxiangjiemianxinwenjizhebiaoshi，jinqishichangchaozuodejibenshirenxingjiqirenxiangguanchanpin，muqianwoguozaigongyejiqirenfangmianzhengchuyujiasufazhanjieduan。zuoweirenxingjiqirendehexinbujianjiansuqi，biranshishichangzhongdianguanzhudefangmian。tongshizaichengxusheji，airuanjian，dianjidengfangmianyeshirenxingjiqirenweilaidezhongdianfazhanfangxiang。tongshijiqirenzaiyuxianyouqiyejieheguochengzhongyehuiyouxiangyingjihui，ruhuawei，ningdeshidai，tesiladengqiyedouyouzijidejiqirenfazhanfangxiang。

屈放认为，目前人形机器人已经产业化，未来市场的炒作方向有望从概念向市场化转向，同时国产替代debizhonghuizhujiantisheng。zaijiqirenshebeizhizaozhong，yeyougongyemujidejihui。bansuizherenxingjiqirendedaguimoshichanghuabirantuidongxiangguangongsiyejitisheng，yehuixiyinzhangqizijindezhuru。

gongyejiqirenbentichangshangyijiahe12yue12rigujiazhangting，jiezhishoupanbao30.11yuan/gu，chengjiao9.41yiyuan，huanshoulv16.13%。gaigu12yue12rizhuli（ddedadanjinge）jingliuru1.32yiyuan，zhangdiefuwei10.01%，zhulijingliang（ddedadanjinge/liutonggu）wei2.09%，liangshipaiming46/5117。

zhangtinggegumenyejichengseruhe？zairenxingjiqirenchanyelianzhongchuyushenmeweizhi？

yijiaheyu11yue29rixinzengrenxingjiqirengainian，yuanyinxigongsizaijinnian3yuehuifutouzizhehudongshibiaoshi，muqiangongsiyikaifalunshi、guagui、lunzudengxingtaidejiqiren，bingyizairenxingjiqirenlingyukaizhanxiangguanbuju。buguo，jiezhimuqianyijiahezanshihaimeiyoutuichurenxingjiqirenchanpin。

yijiahechengliyu1999nian，zhuyaocongshizhinengjiqirenjizhinengshebeidengchanpindeyanfa、shengchan、xiaoshoujizhinenghuafuwu，mianxiangdianli、shangyeqingjie、xinnengyuanchongdian、guidaojiaotongdengxingyelingyu。yejicengmian，yijiahe2022nianzhijinguimujinglirunchixuweifu，fenbieweijinglikuisun0.98yiyuan、0.1yiyuan、0.8yiyuan。

wuzhouxinchun12yue12rigujiazhangting，jiezhishoupanbao32.23yuan/gu，chengjiaoe33.99yiyuan，huanshoulv30.16%。panhou12yue12ridezijinliuxiangshujufangmian，zhulizijinjingliuru1.99yiyuan，zhanzongchengjiaoe5.85%。longhubangshujuxianshi，hugutongzhuanyongxiweimairu1.04yiyuanbingmaichu9863.79wanyuan，yijigouzhuanyongxiweijingmaichu1.29yiyuan。11yue29rizhi12yue6ri，wuzhouxinchuncenglianxu7gejiaoyirizhangting，gujiajieduanxingzhangfuda77%。

zhouchengzhizaoshangwuzhouxinchunweiguoneishaoshuhangaijingmiduanzao、zhiguan、lengchengxing、jijiagong、rechuli、mojiagong、zhuangpeidezhoucheng、jingmilingbujianquanchanyelianqiye。gongsizhouchengchanpinjiqichelingbujian、reguanlixitonglingbujiandabufenshuyuqichezhengjichangdeerjigongyingshang。

yejifangmian，wuzhouxinchunjinnianqiansanjiduyejimingxianxiahua，yingshoutongbijianshao1.76%zhi24.73yiyuan，guimujingliruntongbijianshao19.98%zhi0.98yiyuan。maolilvyechengxiaxingqushi，2021nianzhi2024nianqiansanjidufenbiewei19.89%、17.78%、17.54%、17.2%。

mingkejingji12yue12rizhangting，shoupanbao30.62yuan/gu，chengjiaoe8.19yiyuan，huanshoulvda44.62%。

zijinliuxiangfangmian，zhulidafuliurumingkejingji。jiezhishoupangaiguzhuli（ddedadanjinge）jingliuru1.51yiyuan，zhulijingliang（ddedadanjinge/liutonggu）wei8.16%，liangshipaiming2/5117。longhubangshujuxianshi，zhimingyouziliushahemairu1162.43wanyuan，maichu5.13wanyuan，suoyongxiweiwei“zhongguoyinhe（601881）zhengquangufenyouxiangongsishaoxingzhengquanyingyebu”。

mingkejingjizhuyingyewubaokuowujinchongyamojuhejingmijinshujiegoujianchongya、hanjie、zuzhuangdeng，fenweiliangdahexinbufen，shejisileiyewu，zhuyaoyingyongyuqichelingyuji3cdianzilingyu。jinnianbannianbaoxianshi，gongsiqichexingyeyingshouzhanbida83.52%。jinnianqiansanjidu，mingkejingjishixianyingshoutongbizengzhang7.86%zhi6.71yiyuan，shixianguimujingliruntongbizengzhang7.98%zhi0.77yiyuan。