Robotics Track 'Blood Change': Bankruptcy Liquidation and Billion-Yuan Financing Occur Simultaneously, Clearing is Just Beginning | In-depth
机器人赛道“换血”：破产清算与百亿融资同时发生，出清才刚开始丨深度
The robotics sector in China is undergoing a significant consolidation phase characterized by simultaneous massive financing and corporate bankruptcies. While the first half of 2026 saw embodied AI financing reach 109.174 billion yuan, several prominent companies like Longhui Medical and Shenlan Robotics have entered bankruptcy liquidation due to issues such as uncollectible orders, cash flow control failures, and overly broad strategic focus. The article highlights that the industry is shifting from a capital-driven model to one driven by profitability, with future competition expected to concentrate on leading enterprises with real scenarios/cash flow and hard-tech companies controlling core components or general platforms.
The article analyzes the current state of the embodied intelligence sector in China, noting a simultaneous occurrence of massive financing and corporate bankruptcies as part of an industry 'blood change' or consolidation phase.
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它是深兰科技持股96%的机器人子公司，曾对外公布2.5万台消毒机器人出口产能目标、与LG集团达成3年数万台消毒机器人采购协议，还在商丘规划过年产2万台、年产值10亿元的产业园。
Open source S12
其母公司深兰科技是上海早年知名的AI独角兽，由陈海波创办，巅峰估值一度达140亿元，投资方包含云锋基金、中金资本等知名机构，曾凭借无人零售、熊猫智能公交、商用消毒机器人等项目高调出圈，在AI视觉、自动驾驶、商用机器人多线布局，是国内AI浪潮里知名度很高的平台型企业。
Open source S13
值得一提的是，深兰机器人还是仙兔科技（上海）有限公司持股60%的控股股东，后者的经营范围也涉及智能机器人的研发和销售，目前进入破产清算程序。
Open source S14
三种败局： 订单收不回、现金撑不住、战线铺太宽 据红星资本局不完全统计，2026年以来，已经有十余家机器人相关企业进入清算、破产或停摆状态。
Open source S15
据其宣传材料及天眼查数据，深兰科技巅峰时期对外投资企业数量为49家，深兰集团成员企业总数（含各级子公司及关联企业）一度达159家。
Open source S20
此前华脉科技因控股方变更一事与深兰控股有所牵扯，因此在上交所对华脉科技控制权变更问询函的回复文件中呈现了一组数据：深兰科技2022年度营业收入为11765.44万元，净利润为-9217.17万元。
Open source S21
天眼查收录该公司2025年报，核心财务数据均显示“企业选择不公示”。
Open source S23
今年9月，深兰科技发布说明称，自2023年以来，其持续裁减和压缩传统AI技术研发及业务，加大对大模型、智能体以及大模型智能体驱动的新一代机器人的研发投入。
Open source S24
Source：Robotics — Chinese web discovery · cj.sina.com.cn