Galaxy Securities stated that humanoid robots are the ideal carriers of AGI embodied intelligence and are expected to become the first year of mass production in 2024.
As artificial intelligence and robotics technology rapidly develop, humanoid robots are becoming one of the hottest tracks in the technology industry. On July 1st, Ubtech Beijing and FAW-Volkswagen reached a cooperation agreement to explore the deep application of humanoid robots in industrial scenarios at the national intelligent manufacturing demonstration factory in Qingdao. This cooperation marks an important step in the practical application of humanoid robots in production.
On July 2nd, Zhao Zhiguo, chief engineer of the Ministry of Industry and Information Technology, stated at the 2024 Global Digital Economy Conference that China should strengthen research and development of frontier technologies and promote the development of new tracks such as artificial intelligence, humanoid robots, and 6G.
In addition, the 2024 World Artificial Intelligence Conference and the High-Level Conference on Global Governance of Artificial Intelligence will open on July 4th. During the conference, Tesla will showcase its Cyber Off-Road travel car, Optimus humanoid robot, and FSD (fully autonomous driving capability) latest achievements. It is reported that among them, the Tesla Optimus humanoid robot can now perform tasks in the factory and is expected to have more than 1,000 Optimus humanoid robots working in Tesla factories by 2025.
As one of the current gold tracks, the market size of the humanoid robot industry is expected to explode. According to the "Research Report on the Humanoid Robot Industry" released at the first China Humanoid Robot Industry Conference in April 2024, the Chinese humanoid robot market size will reach approximately 2.76 billion yuan in 2024, 10.471 billion yuan in 2026, and 75 billion yuan in 2029. It will account for 32.7% of the world's total, ranking first in the world in proportion. By 2035, it is expected to reach a scale of 300 billion yuan.
Humanoid robots involve many links, and the upstream of the industrial chain is component supply. The core components include harmonic reducers, frameless torque motors, hollow cup motors, planetary rolling screw rods, encoders, sensors, bearings, etc .; the midstream is the design, manufacturing, and testing process of humanoid robots; and the downstream application areas include industrial manufacturing, disaster relief, dangerous operations, smart logistics, security patrols, entertainment and more.
Domestic companies are actively laying out the humanoid robot industry chain, and many companies are accelerating their technological research and development and mass production processes.
For example, Jiangsu Leili's 8mm brushed hollow cup and 10mm brushless hollow cup have been independently developed, with a maximum speed of 100,000 rpm, and the 16mm hollow cup motor has been mass-produced and supplied to overseas markets; the company's planetary rolling screw rods have been developed , and samples are being sent. Qin Chuan Machine Tool has completed the development of six harmonic reducer products, three of which meet industry standards, and one has been hung up by customers; three other products are undergoing testing.
China Everbright Securities stated that starting from the second half of 2024, pioneers of humanoid robots represented by Tesla will enter the landing period. At the hardware level, a series of events including technology schemes, products, suppliers, orders, and shares will gradually be determined, and the evolution of investment level will become intensive. We remain bullish on the humanoid robot industry, and the realization of complex and flexible functions, screw mass production and cost reduction are worth paying attention to based on the hardware technology route and the progress of each manufacturer.
Galaxy Securities stated that humanoid robots are the ideal carriers of AGI embodied intelligence and are expected to become the first year of mass production in 2024. Investment ideas are divided into three levels: Tesla robot supply chain; Chinese humanoid robot ontology companies; and other component suppliers that are expected to enter the track of humanoid robots.
Related concept stocks:
UBTech (09880): Dongfeng Liuqi and UBTech Technology signed a strategic cooperation agreement for the application of humanoid robots, jointly promoting the application of humanoid robots in the automobile manufacturing scene. After the cooperation project with NIO, this is another layout of industrialization towards the final assembly workshop.
Xiaomi Group-W (01810): On June 4th, the Xiaomi Robotics Company's office relocation ceremony was held in the Beijing Economic and Technological Development Zone. The Xiaomi second-generation bionic quadruped robot CyberDog 2 performed an improvised dance.
Legendholding (03396): Legend Capital's investment in the humanoid robot field is not limited to financial support but also includes providing strategic guidance and market resources to invested companies. For example, Legend Capital led the angel round of humanoid robot R&D company "Ubtech Robotics" with a financing of over 100 million yuan, showing its bullish view on the commercial prospects of humanoid robots.