Communication World Network News (CWW) Recently, Shanghai Shunxin Embodied Intelligent Robot Private Investment Fund Partnership (Limited Partnership) was established, with the executive partner being China National Arms Industry Group Shunjing Equity Investment Management Co., Ltd., contributing 2 billion RMB. The business scope includes engaging in equity investment, investment management, asset management, and other activities through private equity funds. Partner information shows that the fund is jointly funded by Xiamen Binkai Shunqing Investment Partnership (Limited Partnership), Shanghai Guotou Xian Dao Artificial Intelligence Private Investment Fund Partnership (Limited Partnership), BGCTV, and others.
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BGCTV announced that the company, as a limited partner, subscribed 100 million RMB with its own funds for the Shunxin Embodied Intelligent Robot Equity Investment Fund (Limited Partnership) initiated and managed by China National Arms Industry Group Shunjing Equity Investment Management Co., Ltd. as the general partner (referred to as the &#34;Intelligent Robot Fund&#34;), accounting for 5% of the total subscribed capital of the fund, with an initial investment amount of 30 million RMB.
The partnership will primarily invest in unlisted companies in the humanoid robot industry, covering the entire chain of humanoid robots, including but not limited to execution systems, perception systems, AI algorithms, core materials, embodied intelligence entities, and other industrial fields as well as general fields of humanoid robot technology.
The announcement stated that the fund focuses on investments in the intelligent robot industry chain, which is conducive to achieving synergy between embodied intelligence and the company's broadcasting business, strengthening the integration of the company's main technology and ecological cooperation, empowering the company's future development, and obtaining reasonable investment returns, aligning with the company's development and shareholder interests.
Main Business Revenue Decline, Investment in High-Tech Fields
Previously, BGCTV's performance report for 2025 showed that it achieved operating revenue of 2.22 billion RMB, a decrease of 94 million RMB compared to the same period in 2024, a decline of 4.08%. Although BGCTV is one of the few profitable companies among listed broadcasting companies, its main business revenue still experienced a year-on-year decline.
BGCTV is a traditional broadcasting operator, and in recent years, user and revenue growth has been slow, necessitating investments in high-growth sectors such as robots, commercial aerospace, and AI through funds. On one hand, this is to accumulate experience and resources in high-tech industries in preparation for entering high-tech sectors; on the other hand, optimizing investments can hedge against the pressure on traditional main businesses.
In fact, this is not the first time BGCTV has acted as an LP investor. As early as 2008, BGCTV invested in CPE Yuanfeng, and subsequently invested in Zhongguancun Capital and other GPs.
In 2018, BGCTV, as a limited partner, subscribed 499.65 million RMB, while its wholly-owned subsidiary, BGCTV Investment Company, subscribed 350,000 RMB, totaling 500 million RMB to establish the BGCTV Silk Road Golden Bridge Media Industry M&amp;A Fund; this fund primarily focuses on media, consumption, and other fields, which are highly related to BGCTV's main business
In August 2020, BGCTV invested 150 million yuan to subscribe for fund shares, jointly establishing the Zhongguancun Longmen Fund, focusing on cutting-edge sectors including commercial aerospace and artificial intelligence.
From the list of investors, the Shanghai Shunxin Embodied Intelligent Robot Private Equity Investment Fund has gathered a number of strong players in the robotics field: Shanghai Guotou Xian Dao, Shanghai Pudong Leading Area Investment Center, Zhangjiang Ke Investment, Hubei Humanoid Robot Industry Investment Fund, Lingyun Industrial, and others.
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For BGCTV, partnering with these investment giants not only reduces the risk of single investments but also allows leveraging various resources to quickly familiarize itself with the industrial logic, technological barriers, and market demands of the robotics sector, laying the foundation for potential industrial synergies and avoiding the trial-and-error costs of blind layouts. This &#34;group investment&#34; model is also the mainstream choice for listed companies to layout in high-tech sectors.
&#34;Group Investment&#34; Still Needs to Be Wary of Industrial Bubbles
Although the prospects for the robotics sector are broad and BGCTV has adopted a &#34;group investment&#34; stable model, it still needs to be cautious of multiple risks in industry development.
From an industry perspective, the humanoid robot industry still faces technological bottlenecks, primarily due to insufficient coordination between the AI decision-making layer and the motion control layer. Key components such as high-end precision reducers and high-precision sensors still have some reliance on imports, the speed of technological updates is rapid, and the investment return cycle is relatively long.
At the same time, the enthusiasm of capital may also breed industrial bubbles. According to statistics from the New Strategic Mobile Robot Industry Research Institute and the Humanoid Robot Scenario Application Alliance, by 2025, there will be over 215 financing events in the global humanoid robot field, with a total financing amount exceeding 57.8 billion yuan. However, the industry is experiencing increased differentiation, with tail-end enterprises accelerating clearance, and some companies facing issues such as false demand and homogeneous competition, which may affect the investment returns of the fund.
For BGCTV, lacking core technology and operational experience in the robotics field, it overly relies on the professional capabilities of GP and partner resources. If the fund's investment targets fail to achieve expected development or cannot effectively synergize with broadcasting business, it may not meet investment objectives and could even affect the company's cash flow stability.
The author believes that BGCTV's main business has declined in recent years. Although it attempts to break through by investing in high-tech sectors, it is difficult to change the development dilemma of its main business in the short term. Balancing main business operations with external investments to avoid losing sight of either is a new challenge it needs to face.
However, in the long run, with the continuous advancement of digital and intelligent transformation, the traditional broadcasting industry must break through business boundaries and embrace high-tech industries. BGCTV is gradually entering sectors such as robotics, commercial aerospace, and AI through the LP model, accumulating certain experience for its transformation

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BGCTV subscribed to the intelligent robot fund with an investment of 100 million yuan, aiming to lay out the humanoid robot industry and strengthen technological integration and ecological cooperation. Despite a decline in main business revenue, BGCTV seeks growth and hedges pressure through investments in high-tech fields such as robotics, commercial aerospace, and AI. The fund will invest in the entire chain of humanoid robots, supporting the company's future development

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BGCTV

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[Original] How can traditional broadcasting and television transform? BGCTV collaborates with 100 million yuan to layout the robot track