移动广告行业与广告欺诈的对抗，从未停止。 从点击作弊、机器人安装到归因劫持，围绕“虚假流量”的识别与拦截能力，已经逐渐成为广告平台、归因工具与买量团队的基础能力之一。但AppsFlyer最新发布的《2026年移动广告欺诈现状报告》《The State of Fraud for Marketers – 2026 Edition》却指出，一个比“刷量”本身更值得警惕的趋势正在出现： 超过52%的欺诈安装，如今已经开始被识别为“自然流量”。 这意味着，广告欺诈正在从过去相对粗暴、易识别的“异常流量”，演变为一种更隐蔽、更接近真实用户行为的数据污染方式。它不再只是简单伪造安装数据，而是开始主动“伪装成增长”——甚至直接进入广告主最难怀疑的自然量体系之中。 AppsFlyer在报告中指出，尽管2025年整体广告欺诈率并未出现明显变动，但随着全球移动广告预算持续扩大，欺诈安装的绝对规模仍在快速增长。与此同时，ATT之后的移动广告生态，也正在让归因链路与用户识别变得更加复杂：一方面，SRN与非SRN渠道之间的欺诈差距被进一步拉大；另一方面，机器人流量、设备刷量以及归因劫持等作弊方式，也开始朝着更高拟真度的方向演化。 可以说，当虚假用户开始看起来像真实用户，移动营销行业过去所依赖的数据判断逻辑，也正在被重新挑战。 一、欺诈没有“消失”，只是变得更难被发现 如果只看整体欺诈率，2025年的移动广告行业，似乎并没有出现想象中的“失控”。 报告中指出，过去一年全球移动广告欺诈率整体相对稳定，例如，iOS整体欺诈率从2025年Q1的17.5%，下降至2026年Q1的11.7%，同比下降约33%。相比之下，安卓整体欺诈率则基本维持在14%-15%区间，全年变化相对有限。这意味着，过去几年行业围绕反作弊系统、归因校验与流量风控所建立的一系列能力，确实正在发挥作用。 但问题在于， 欺诈率的“稳定”，并不意味着广告主的实际损失正在减少。 因为伴随着全球移动广告预算持续扩大，整个行业的买量规模仍在增长，最终导致欺诈安装的绝对数量继续上升。换句话说，即便作弊流量在整体中的占比没有明显提升，只要市场盘子还在扩大，被“吞掉”的预算总额依然会越来越高。 这一变化，本质上意味着移动广告行业已经进入了一个新的阶段： 过去，广告欺诈更多是“粗放型”的——依赖大量机器人流量、批量虚假点击或异常设备行为，通过简单放量...

Alex Cristi /iStock via Getty Images The following segment was excerpted from the Ariel Focus Fund ( ARFFX ) Q1 2026 Commentary. Ariel Focus Fund jumped +7.30% in the quarter, ahead of both the Russell 1000 Value and the S&P 500's +2.10% and -4.33%, respective returns. Oil and gas producer, APA Corporation ( APA ) was the top contributor during the quarter, benefiting from higher oil prices and the company's strong exposure to upstream operations, which tend to perform well when commodity prices improve. Longer term, we believe APA is well positioned to sustain production and generate cash. The company has a large inventory of drilling opportunities in the Permian Basin and a good track record of replacing production. Additionally, growing natural gas exposure in Egypt and APA's liquefied natural gas-linked marketing portfolio are beneficial. Together, we believe these assets support ongoing free cash flow, which can be returned to shareholders and drive value over time. SLB Limited ( SLB ) advanced during the quarter as investors grew more confident in the company's resilient international growth profile, increasing exposure to secular growth areas such as Digital and Production Systems and consistent free cash flow generation. Management's constructive commentary on improving conditions across key international markets and strengthening offshore activity reinforced confidence in the medium-term earnings outlook. The company also disclosed temporary, security related disruptions in parts of the Middle East, including restricted travel and selective staff demobilization, which the market largely viewed as manageable and transitory. Backed by disciplined capital returns, a strong balance sheet and unmatched global scale, we believe SLB remains the most resilient and strategically differentiated provider in the oilfield services industry. Shares of Chevron Corporation ( CVX ) also rose solidly over the quarter, participating in the broad rally across the energy sector...

“证伪”这个词，印象中，这么多年来汽车行业就没人提过。毕竟，狂飙突进的汽车行业极致“内卷”中，“天下攘攘皆为利往”，谁又顾得上去管什么科学精神呢？ 更有甚者，今年3月份一个月80多场产品发布会，北京车展更是达到212场发布会，“萝卜快了不洗泥”，狂飙的汽车行业战车已经是没法刹车的状态。但是，如同相关媒体所讲，当一个行业的营销声量与质量投诉同步起飞时，我们看到的就不是繁荣，而是一场集体性的掩耳盗铃。 所幸，还是有清醒者。4月21日的宁德时代TECH DAY上，宁德时代董事长曾毓群提出，“真正的科学精神，不是只提出想法，而是不断证明自己有没有可能出错。” 证明自己有没有出错，这就是科学哲学的创立者卡尔·波普尔提出的“证伪”概念，这就是边界意识。宁德时代为什么提到“变相减配”的问题？为什么会特别强调控制“温升”？ 一句话，电池行业乃至汽车行业太需要一场“证伪”的反思和行动了。 “纸面续航”的证伪 当然，因为有一个“伪”字，容易造成中文语境下的理解错误。 实际上，“证伪”不是要证明对与错，而是说，如果一套理论学说永远正确，放之四海而皆准，不能够被证伪，那它就不能够被列入科学范畴。换句话说，凡是不能被证伪的，就不科学。 但是，过去几年我们看到的都是愈演愈烈的概念营销。这些满天飞的概念，有多少是能被证伪的？ 所谓证伪，实际上是明确科学理论的边界。对于电池行业来说，磷酸铁锂的路线在追赶超长续航的赛道上，就很有问题，需要证伪和纠偏，需要明确它的应用边界。毕竟，单一的化学体系并不能适用所有的应用场景，它不是万能的。 现在的行业误区是，电动车的续航在朝着1000公里以上突进，磷酸铁锂自带“主角光环”。但是，磷酸铁锂系统能量密度的天花板客观存在，这就存在一个“超重”的问题。 续航是更长了，但电动车为多背的重量所付出的代价，比如这些续航指标背后是否牺牲寿命、可靠性降低或成本飙高，造电动车的企业不会告诉你。营销概念的狂欢里，这是黑暗的一角。 实际上，磷酸铁锂硬做1000公里续航，唯一路径就是堆电池。而结果就是车重超标，甚至电池超过1吨、整车重量会超过3吨。但是，电池包重量一旦逼近甚至超过750公斤，整车的操控性、制动效率、能耗表现乃至轮胎磨损都将显著劣化。 这种“纸面续航”大跃进背后的问题，却鲜有人提及。而这次发布会上，宁德时代说出了一个行业中鲜有人愿意公开的论断，就是25万元以上车型用磷酸...

【有線新聞】文化體育及旅局局長羅淑佩展開意大利和法國訪問行程。 羅淑佩參觀了第61屆威尼斯視藝雙年展香港展，期間跟兩位參展的香港藝術家 伍韶勁和許開嬌會面，聽取他們介紹作品。羅淑佩說他們的作品向國際舞台展示香港藝術多元魅力。 根據政府日前公布，羅淑佩之後會前往法國波爾多訪問，與當地官員及葡萄酒業界會面。

【有線新聞】文化體育及旅局局長羅淑佩展開意大利和法國訪問行程。 羅淑佩參觀了第61屆威尼斯視藝雙年展香港展，期間跟兩位參展的香港藝術家 伍韶勁和許開嬌會面，聽取他們介紹作品。羅淑佩說他們的作品向國際舞台展示香港藝術多元魅力。 根據政府日前公布，羅淑佩之後會前往法國波爾多訪問，與當地官員及葡萄酒業界會面。

用AI助手接管所有陌生来电，能治愈年轻人的“电话恐惧症”吗？ 职场人最怕的事情是什么？最新的答案也许是，接电话。 此前，中国青年报的一项调查显示，过半年轻人对接电话感到恐慌或迟疑，而且年龄越小，这一趋势越明显。前不久，“听到电话铃响就烦躁”“能打字绝不打电话”等话题冲上热搜，引发广泛共鸣。 不知道从什么时候开始，我们的手机铃声，变成了让人心慌的“突发警报”。看着屏幕上跳出的未知号码，大多数人的第一反应，早已不是好奇“是谁找我”，而是下意识警惕、烦躁，手指飞快按下挂断，甚至反手拉黑。 这种“铃声恐惧”在年轻人中间更为普遍，以至于我们常常会忘记，电话最初承载的是人与人之间的惦念，它让相隔远方的人也得以即时互通音讯。 曾经，“楼上楼下，电灯电话”是很多家庭的美好期盼。那时通信资源稀缺，书信和电报是主力，字字千钧。也正因为如此，每一句话都倍加珍贵，一句顶一万句。 直到BP机、公用电话、老式座机陆续走入大众视野。街头巷尾随处可见的投币式公用电话亭，一部动辄上万元的大哥大，都是独属于那个时代的通信印记。 （图/pexels） 短短数十年，国内通信基础设施完成了跨越式迭代。1978年，全国固定电话用户仅有192.54万户；1987年移动电话出现后快速普及；2017年末，全国电话用户规模达到16.11亿户，位居世界第一。曾经奢侈的通信服务，彻底走进了大众日常生活。 然而，便捷的通信并未让人与人之间的联结更加紧密。今天的手机早已不只是通话工具，而是集社交、办公、消费、出行等功能于一体。多元化的线上沟通取代了传统通话，也让手机最原始的通话功能渐渐沦为边缘。 陌生来电彻底变了模样，真诚成了现代人的乡愁。如今，陌生来电几乎是推销、骚扰或电信诈骗的代名词。 不接电话，绝不是一种矫情。 相比于可以认真思考后再用文字沟通、不知道说什么就掏出表情包的通讯软件，无预告、无草稿的实时对话，难免使打工人感到心慌。电话具有强制同步性与不可控感，让年轻人对接电话产生本能抗拒 我们采访了一些不爱接打电话的年轻人，聊起有多久没接过外卖、快递以外的电话了。他们的答案出奇一致：久到已经忘了上一次接听陌生来电是什么时候。 主动找我的，能有啥好事？ 如果问一问身边人，现在还会不会主动接听陌生电话，答案十有八九是否定的。大家仿佛不约而同地达成了一个无奈的共识：无事主动打电话的陌生人，基本没什么好事。 网友们更是精准吐槽：...

最近两年，每隔一段时间就有人宣布找到了AI社交的答案。无论是互联网大厂还是创业公司，不同的产品在各个方向押注，有的跑出了意想不到的成绩，有的烧了很多钱却没找到真正的用户。 2026年春天，当一款几乎被遗忘的产品突然重回大众视野，整个行业也到了一个可以认真想想的节点：AI介入社交这两年，哪些事情真的跑通了，哪些只是看起来跑通了？ 4月28日，QuestMobile春季报告发布，多闪这款字节旗下被很多人遗忘了的产品，月活跃用户正式突破3000万大关，同比增长1727.9%。要知道，一季度整个国内移动社交行业的整体增速还不到5%。 不过，报告中还有另一组数字：2026年3月，多闪和抖音的重合用户数达到2834.8万，占到了多闪当月流量的93.5%。换言之，这不是一款独立社交产品从0到1的逆袭，而是一款“社交老将”在AI加持之下重新找到了自己的立足点。 围绕着AI和社交如何结合这个问题，字节、快手、腾讯、百度在做各自的押注，一批瞄准陌生人社交的创业公司也在摸索自己的路径。做半熟关系的润滑剂、用AI分身实现社交破冰、把多个AI角色塞进群聊——不同的产品选了不同的答案，跑出来的结果却大相径庭。 这些案例放在一起，为我们划出了目前AI社交的可能性边界。 多闪月活一年涨了17倍，AI加持成为增长关键 2019年1月，多闪与马桶MT、聊天宝同日发布，被戏称为“三英战微信”。借抖音春节活动强力导流，一度创下日活超千万的峰值，之后却迅速跌落谷底。问题出在定位上：既想承接抖音的短视频内容，又想构建独立社交关系链，结果用户认知混乱，两头落空。 转机发生在2023年。字节彻底放弃“再造一个微信”的平台野心，转而去承接从抖音溢出的社交需求。经过两年酝酿，2025年多闪完成31次密集迭代，App Store标签也直接改成了“抖音聊天版”。 推广上，字节同样换了打法——不再砸钱买量，而是用已经跑了多年的“聊天火花”机制在抖音站内精准引流。2025年11月，多闪专属火花系统上线，配套独家等级标识与限定聊天气泡，成为这一次逆袭的引爆点，直接将其送上了App Store社交榜榜首。 随后推出的“小火人AI精灵”则进一步解决了“有关系但没话聊”的问题——AI bot巧妙地激发了沟通动机，提供了自然的话题起点，无缝融入用户的日常交流，从而润滑和增进了现有的抖音好友关系。 截至2025年12月，小火人功能的日活...

格隆汇5月8日｜华尔街传奇投资者、成功预测1987年股灾的都铎投资(Tudor Investment)创办人Paul Tudor Jones表示，由人工智能(AI)带动的美股多头行情可能还有一到两年可走，他近期也持续加码AI相关股票，并认为目前市场发展与1980年代微软崛起，以及1990年代互联网商业化初期高度相似，AI带来的生产力革命仍处于中段，而非尾声。 Jones指出，无论是微软软件革命，还是互联网普及，当年都引发长达四年至五年半的生产力提升与股市多头行情。他表示：“如果要选一个时间点，我认为我们大概只走了50%到60%，这波行情应该还有一到两年可走。” 他也提醒，若市场未来持续大幅上涨，后续修正幅度恐相当惊人。他指出，假设股市再涨40%，股市市值占GDP比重可能升至300% 甚至350%，你就知道未来某个时刻，市场很可能出现令人屏息的大幅修正。

Earnings Call Insights: Six Flags Entertainment Corporation (FUN) Q1 2026 Management view CEO John Reilly framed senior leadership changes as a move to tighten execution, saying, "We have made targeted adjustments across key areas of our senior leadership team including finance administration and marketing to better align our organization with our strategic priorities going forward," and added that Dave Hoffman "will step in on a temporary basis to lead the finance organization." Reilly tied recent balance-sheet and portfolio actions to a sharper operating focus, saying he has taken actions including "the sale of noncore assets, monetization of excess land and refinancing of our balance sheet," and that completing park and land disposals "are expected to enhance margins, sharpen focus and improve returns to shareholders." Reilly highlighted early traction from a redesigned pass strategy, saying the new 2026 regional access benefits "is gaining traction" and that the company is entering peak season "with a larger and more engaged pass and membership base, which we expect will support visitation and spending through the peak operating period." Chief Accounting Officer David Hoffman summarized the quarter’s operating drivers, saying, "For the first quarter, attendance increased 4%, per capita spending increased 6% and net revenue increased 12% compared to the prior year," and added, "Taken together, we drove a $48 million improvement in adjusted EBITDA." CFO Brian Witherow, on his final call, said, "I'm proud of everything we've accomplished during that time, and I'm confident that Six Flags is well positioned to continue to succeed." Outlook Management said it is not providing formal earnings targets: "Lastly, we are not providing formal earnings guidance or long-term targets at this time," according to Chief Accounting Officer David Hoffman. Hoffman pointed to what management plans to disclose instead, saying the company is focused on "transparency around demand tren...

When you're new to cryptocurrency, the safest place to start investing is with one of the largest coins. With smaller cryptocurrencies, the risk of investing in a scam or a project that never takes off is much higher. Two of the biggest names are XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC) . Both are established cryptocurrencies: XRP ranks in the top five by market cap, and Bitcoin has always been the largest coin on the market. But they have very different uses and levels of risk. Here's what you need to know to decide between the two as a new crypto investor. Image source: The Motley Fool. Continue reading

今天，平陆运河青年枢纽引水完成，船闸开始密封检查，枢纽有水调试进入通航前的关键阶段。从5月1日开始，青年枢纽开始引水，目前航道中有约300万立方米水，满足船闸有水调试的要求。平陆运河青年枢纽船闸密封检查计划于6月初完成，此后将进行有水联合调试。后续，企石枢纽和马道枢纽也将进行相关调试。平陆运河是西部陆海新通道骨干工程，将于今年9月全线通航。（央视新闻）

百度崑崙芯啓動科創板IPO輔導 Moomoo

百度崑崙芯啓動科創板IPO輔導 富途牛牛

格隆汇5月8日｜苹果“首款AI硬件”或许是一款“有视力”的耳机。据彭博5月7日消息，苹果带摄像头的新款AirPods已进入开发晚期阶段，这将很可能成为苹果首款专为AI时代设计的可穿戴设备。据悉，摄像头不用于拍照，而是充当Siri的“眼睛”，可识别用户周围环境并提供AI辅助信息。

【有線新聞】2026年北京香山論壇先導會上午在華北賓館開幕。 先導會以「全球安全治理挑戰與出路」為主題，來自40多個國家和國際組織代表，以及國內外專家學者等逾120嘉賓參加。在兩天會議期間，與會代表將圍繞國際秩序與國際法治、亞太安全新挑戰、維護國際共同安全的責任和新興技術軍事應用的風險管控等4個重要議題展開圓桌研討。 今年正值香山論壇創立20周年，當局舉辦特別專題交流活動，共同回顧香山論壇二十載歷程，探討國際安全論壇在平等對話、凝聚共識、化解分歧等方面的獨特價值。 北京香山論壇秘書處辦公室主任李抒音：「北京香山論壇自2006年成立以來，已經經歷了20年的歷程，20年來它一直奉行著平等對話，包容互鑑這麼一個理念，堅持給發展中國家提供發聲的舞台，如何更好在維護地區安全穩定，加強全球安全治理方面發揮作用。」

Principal Financial Group Inc. is seeking to raise $3 billion for two funds this year to capitalize on demand for investment in data centers in the US and Europe, according to people familiar with the matter. The company’s asset management unit will oversee the two private real estate equity funds, the people said, asking not to be identified discussing private information. It aims to raise about $2 billion for the fund with a US focus, while targeting around $1 billion for Europe, they added. Both funds are targeting an annual net internal rate of return of 18-20% over eight years, with extension terms, one of the people said. Principal Asset Management is the global investment solutions business for Des Moines, Iowa-based Principal Financial, managing about $578 billion as of March 31. It has other data center funds and sees AI-driven opportunities in power supply and infrastructure support. Institutional landlords like Principal finance and own the physical real estate used for the artificial intelligence industry, leasing it back to tech titans like Amazon.com Inc. and Alphabet Inc. Private capital into data centers reached a new peak in 2025 as growth surged in North America, Preqin data show. A spokesperson declined to comment. Principal last year raised $3.64 billion for a US-focused strategy. While the firm’s prior data center strategies focus on core asset investments, the new funds will look for other opportunities in development assets that seek higher returns and could involve building the projects, the people said. The Europe fund will look for development opportunities for hyperscalers and powered land in cities such as Frankfurt, London, Amsterdam, Paris and Dublin, one of the people said. Principal has about $11 billion in assets in the data center sector, which it has been investing in since 2007.

Earnings Call Insights: Motorola Solutions (MSI) Q1 2026 Management View "First, Q1 was an outstanding start to the year with earnings per share that exceeded our guidance as well as record revenue" (Chairman & CEO Gregory Brown). "Revenue was up 7% in the quarter, highlighted by 18% growth in software and services," and Brown added that "we saw growth across all 3 technologies" with "particularly strong starts to the year in Command Center and video" as customers adopt "cloud and hybrid solutions" and "purpose-built AI workflows." "Our record Q1 orders grew 38%, contributing to a record Q1 ending backlog position of $15.7 billion, up 11% versus a year ago" (CEO Brown). Brown said the company "acquired Exacom and Hyper" and "announced our intent to acquire Bell Canada's LMR network services business, which we expect to close sometime in Q4"; he added, "based on our Q1 results and continued momentum in the business, we're raising our full year guidance for both sales and EPS." "Revenue for the quarter grew 7% and was above our guidance" (Executive VP & CFO Jason Winkler). Winkler said results included "$60 million of FX tailwinds and $219 million from acquisitions" and noted a "$75 million noncash charge for the increase in the Silvus earnout"; he reported non-GAAP operating margin "was 28.8%, up 50 basis points" and non-GAAP EPS "was $3.37, up 6% from $3.18 last year." Outlook "We expect Q2 sales growth of approximately 8.5% with non-GAAP earnings per share between $3.82 and $3.88 per share" (CFO Winkler). "For the full year, we now expect revenue of approximately $12.8 billion... and non-GAAP earnings per share between $16.87 and $16.99 per share" (CFO Winkler). "We are raising our top line revenue expectations $100 million" (CFO Winkler). He attributed it to "strength from both Silvus, which we now expect to generate $750 million in full year revenue, up $75 million from our prior expectations," and "our core public safety business increasing," while reiterating "...

Earnings Call Insights: Rockwell Medical (RMTI) Q1 2026 Management view CEO Mark Strobeck framed the quarter as continued execution on a multi-year turnaround, saying, "Fast forward to today, Rockwell is a sustainably profitable, stable company," and added, "With these additional changes, our goal is to achieve positive net income in the second half of 2026, subject to customary risks and uncertainties that could cause actual results to differ materially." Strobeck said demand remained strong, particularly for liquid bicarbonate concentrates, stating, "we have now become the primary supplier of liquid bicarbonate in the United States," while also noting Q1 net sales were "higher than expected" but lower year-over-year due to "our then largest customers' volumes declining." Strobeck highlighted operational and pricing actions intended to lift profitability starting in Q2, including, "we are activating two new automated liquid lines this quarter, which we anticipate will generate an approximate 50% increase in our output and a significant reduction in our manufacturing cost per bottle," and, "we estimate that these modifications will result in an additional $3 million of gross profit, approximately half of which we expect to realize in 2026." CFO Jesse Neri reported, "Net sales for the first quarter were $17.3 million," and said results "track toward our full year 2026 estimate of $70 million to $75 million," while adding, "Gross margin for the first quarter 2026 was 17%." Outlook Management issued 2026 annual guidance: Strobeck said, "Net sales will be between $70 million and $75 million. Gross margin will be between 18% and 22%. Our business will be profitable. We estimate adjusted EBITDA will be between $1 million and $2 million, and operating cash flow will be positive, meaning we will generate cash and eliminate our need to raise additional capital to fund our operations." Strobeck positioned Q2 as the first quarter reflecting recently implemented operational and...

China is poised to leverage the humanoid and robotics market to consolidate its dominance over global manufacturing – a move that echoes its decade-long rise to the top of the electric vehicle (EV) sector, according to a new report. “Looking ahead, humanoids and robots will be the next key driver of China’s export machinery over the coming 5 to 10 years,” analysts from Morgan Stanley said in a note. “Indeed, we see parallels between the development of the humanoids and robots industry and that...

导读： ①算力硬件集体反弹，调整属技术性修复，机构抱团稳固，后续以轮动看待；②AI 应用迎催化走强，商业化进程提速，存在估值优势，但整体偏补涨、持续性弱于硬件；③机器人概念受内外消息共振催化，产业链关注度提升，重点关注高壁垒核心零部件环节。 昨日市场延续反弹，创业板指与深成指双双涨超1%，并且量能连续两个交易日维持在3万亿之上，在交投持续活跃的背景下，后市或仍具冲高动能，但仍需注意短线节奏。 算力硬件昨日集体反弹，CPO、光纤、PCB等细分，东山精密涨停，源杰科技、光迅科技、仕佳光子等续创新高。算力硬件此前的调整并非基本面逻辑出现弱化，本质是短期累计涨幅过大引发的技术性修复。回调过程中，板块核心标的中期上行趋势并未走坏，机构资金抱团格局依旧稳固。所以后续仍存在反复活跃之空间。但需注意的是，当前市场已不是此前算力硬件独自领涨的格局，后续还是以轮动结构看待为宜。 AI应用方向同样于昨日盘中走强，易点天下20CM涨停，蓝色光标同样放量大涨。，字节跳动旗下豆包开启付费订阅测试，标志着本土AI大模型商业化正式迈入提速阶段，AI应用层的商业化能力正逐步被验证。而从市场角度来看，相较于算力硬件与租赁，AI应用方向的位阶优势较为明显，结合昨晚美股软件股上涨或起到映射效应，今日AI应用方向或持续活跃、但需注意的是，软件应用本质上偏向 AI 链补涨，延续性或弱于核心硬件。 机器人概念亦逐步加强。消息面上，在 2026 年第一季度财报电话会上，特斯拉 CEO马斯克确认，Optimus 机器人将于 7 月下旬或 8 月在弗里蒙特投产。此外，国产机器人成中国外贸新名片，据海关统计，今年一季度，各类单独列名的“机器人”合计出口额达113.2亿元，产品远销至全球148个国家和地区。而宇树科技等国产机器人公司IPO持续推进，市场对于机器人的关注度逐步提升。后续可重点关注核心零部件厂商，特别是在精密减速器、执行器、传感器等价值量大、技术壁垒高的环节。