当传统篮球发球机还停留在“固定位置抛球”的刻板印象时，一台能看懂手势、追踪跑位、自主传出旋转弧线球的机器人，正在海外众筹平台掀起一场训练革命。来自深圳的运动科技品牌皓翊星辰（LUMISTAR）旗下首款AI篮球训练发球机LUMISTAR CARRY，在Kickstarter上线24小时内即狂揽超60万美元，成为今年智能运动硬件领域最受瞩目的现象级产品。    Unitree: Valuation rise reflects optimism    Investors are showing a strong appetite for Unitree Robotics' initial public offering, reflecting growing optimism about China's ambition to turn its industrial chain strengths into commercially viable artificial intelligence applications in the physical world, market experts and investment banks said.    Though still at an early stage of commercialization, China's embodied intelligence industry is gaining momentum in scaling up applications, first in business scenarios and later in consumer markets, creating a distinctive opportunity set for global investors, they said.    The IPO of Unitree on Shanghai's STAR Market — the first A-share listing of a major producer of humanoid robots — has entered the subscription stage, with buoyant demand helping to lift its issue price and fundraising size above earlier expectations.    Its issuing announcement showed that it had priced its IPO at 150.80 yuan ($22.35) per share, with expected proceeds amounting to 6.099 billion yuan, higher than the 4.202 billion yuan estimated in its earlier IPO filing at an implied price of about 104 yuan per share.    Its IPO price represents a price-to-earnings ratio of 219.23 times, far surpassing the industry average of 38.56 times and giving it a market capitalization of about 60.99 billion yuan at the IPO price, the announcement said.    The offering attracted a group of strategic investors, including the National Council for Social Security Fund, DeepSeek, as well as investment arms or affiliates of China National Petroleum Corp, China Southern Power Grid, China Telecom, Tencent and CITIC Securities.    Notably, the social security fund has become Unitree's largest strategic investor, subscribing to 933,402 shares, or 2.31 percent of the offering, for around 141 million yuan.    The move underscores long-term institutional capital's recognition of the humanoid robotics sector's prospects.    Retail investors have also shown enthusiasm ahead of Unitree's online subscriptions that open on Monday, with posts wishing for successful allocations piling up on financial information platform Eastmoney's online stock forum for the company.    Yang Shuning, executive director and partner at Wenzhi Capital, a Beijing-based private equity company focused on high-tech investments, said the keen demand and high valuation reflect investors' optimism about Unitree's commercialization prospects and its positioning in the embodied intelligence sector.    "Given the scarcity premium enjoyed by leading players in tech sectors and the multibillion-dollar valuations seen among overseas humanoid robotics peers, Unitree's valuation is not without justification," he said.    But Yang cautioned that Unitree's valuation is less about current earnings than about investors pricing in its future profitability. "If Unitree falls behind in scaling up commercialization, revenue growth weakens or investors start using a different valuation yardstick, valuations would come under pressure."    Commercial promise    Wang Xingxing, Unitree's founder and chairman, said on Friday that the company's pure humanoid robot shipments exceeded 5,500 units in 2025, the highest in the world.    Unitree's rise has come as China's humanoid robotics sector takes the lead worldwide in terms of shipments, with its commercialization prospects becoming increasingly visible.    Citing exhibition examples at the World Artificial Intelligence Conference in Shanghai, UBS said in a recent report that humanoid robots are "increasingly being evaluated as production tools rather than exhibition assets".    Commercialization should first scale in structured business-to-business scenarios such as factories, logistics and smart pharmacies, while consumer use cases remain a longer-term prospect, the report said.    Zhao Liang, a partner at Unique Capital, an investment institution focused on AI innovation, said that humanoid robots may integrate with specific application scenarios on a large scale in the next three to five years.    "Given China's advantages in industrial supply chains and talent, the country's embodied intelligence industry chain may bring a surprise to the world," Zhao said.    Unitree's listing, which took only 104 days to go from the application acceptance stage to registration approval, is expected to further boost financing, investment and development of China's embodied intelligence sector, experts said.    Besides Unitree, another major Chinese humanoid manufacturer, AGIBOT, is seeking an IPO in Hong Kong. According to UBS, China's embodied AI sector saw a wave of IPO filings and strong primary market financing this year, with first-half funding going above 34.5 billion yuan.    With a buoyant listing pipeline, China's embodied intelligence industry — and the broader physical AI sector — could offer global investors a distinct exposure to the next phase of AI development where physical-world applications become increasingly important, experts added.    Goldman Sachs said in a report that while the US and North Asian tech companies hold a dominant position in sectors such as semiconductor and AI models, China's AI opportunity set seems better populated in power, infrastructure and physical AI, implying a potentially strong value proposition and diversification benefits to global investors.                    。它用一个颠覆性的定义告诉所有篮球爱好者：训练搭档不该是一台机器，而应是一位随时就位的“AI队友”。告别固定抛射，重新定义传球的“人感”市面上绝大多数的篮球发球机，本质上只是一个定点弹射装置。它们不会关心你跑到了哪里，也不会在意接球时的手感。LUMISTAR CARRY的出现，彻底改写了这一局面。整机搭载4颗4K超高清摄像头，构成一套全向视觉追踪系统，能够实时锁定场上球员的跑动位置，并持续追踪篮球的飞行轨迹。这意味着，训练时你无需触碰任何遥控器，只需挥手示意，CARRY便心领神会，精准地将球送到你手中。当你突然加速空切或绕掩护跑位，它会像一位经验丰富的后卫那样，自动调整传球时机、方向，甚至模拟真人传球的弧线、速度和旋转，每一次接球都充满真实对抗的“人感”。最高供球容量达到四颗，最快仅需2.5秒，下一球便会再度传出，节奏紧凑如实战。

B | 不止传球，它更是一位搭载AI大脑的私人教练LUMISTAR CARRY带来的颠覆远不止于传球本身。训练一旦结束，它的价值会以数据的形式重新登场。

C | 内置AI系统能够逐帧分析用户的投篮动作，自动生成超过20项专业训练报告，从投篮出手角度、弧度、稳定性，到球场各个区域的投篮热力图、命中率分布，一目了然。

D | 更为难得的是，系统还会将这些数据与职业球员数据库中的样本进行横向对比，以直观的图表和评分告诉你哪些环节需要改进。

E | 曾经只能依靠教练经验和主观感知的投篮诊断，如今被压缩在每次训练结束后的片刻之间，进步路径变得清晰可量化。

F | 45分钟完成500次高质量投篮篮球训练中最耗费时间的往往不是出手瞬间，而是反复弯腰捡球的过程。按传统模式完成500次投篮，整场训练时常被拉长至数个小时。CARRY用持续供球和智能传球，将这一过程压缩到约45分钟左右，效率提升数倍。这让原本只属于专业球队的高强度投训量，成为普通爱好者也能日常实现的目标。

G | 60秒部署，让智能训练无所不在与人们对“大型场馆设备”的固有认知不同，LUMISTAR CARRY在便携性和场景适应力上同样做足了减法。底部自带辅助滚轮，单人即可轻松移动。无论是室内木地板球馆，还是户外水泥球场，CARRY都能在60秒内完成部署，无需任何工具或场地改造。

H | 自定义训练模式的支持，让用户可以针对定点投篮、移动接球跳投、特定角度三分等不同需求，自由编排训练流程。从此，高质量篮球训练不再受场地和时间制约，真正做到了球场在哪，AI队友就在哪。

I | 众筹首日60万美元，市场和用户用行动投票Kickstarter上线首日即突破60万美元的战绩，不仅验证了LUMISTAR CARRY强大的产品力，也折射出全球篮球人群对智能化训练解决方案的巨大渴求。

J | 从职业梯队到校园球场，从个人技术打磨到团队辅助训练，CARRY所代表的“AI队友”式发球机，正在为篮球运动开启一扇新的效率之门。

K | 目前，LUMISTAR CARRY在Kickstarter平台的众筹仍在火热进行中，早鸟支持者将享受到独家价格和优先发货权益。皓翊星辰（LUMISTAR）作为一家专注于AI运动科技的深圳企业，此前已凭借智能网球训练机器人TERO赢得市场的广泛认可。此次CARRY的亮相，标志着品牌正式切入篮球赛道，以视觉追踪、拟人传球和训练数据分析三大核心能力，继续践行“让高质量运动触手可及”的承诺。CARRY的诞生，更承载着皓翊星辰对智能机器人的深层思考，智能机器人未必需要模仿人类的外形，拥有洞悉环境的“双眼”和实时决策的“大脑”，才是运动场景下真正的智能所在。

L | CARRY正是这一理念的实践，没有一副人的身形，却具备了超越人力的感知与反馈能力。让智能机器人以最适配的形态，而非最像人的形态融入每一次训练，这正是皓翊星辰一直以来的伟大愿景。