Today, on July 4th, the highly anticipated 2024 World Artificial Intelligence Conference (WAIC 2024) officially opened. Leju Technology unveiled its domestically developed full-sized humanoid robot "Kvavo" at the conference, which is the first in the country to run on the Hongmeng operating system. The robot is equipped with Huawei's open-source Hongmeng system, which not only realizes full-range visual perception but also has breakthrough jumping and multi-terrain walking capabilities. The "Kvavo" robot has officially entered the production stage, with an estimated price range of 6 to 8 hundred thousand yuan.

This conference will bring four forums related to embodied intelligence, focusing on topics such as the integration of embodied intelligence and humanoid robots, the core components of intelligent robots, and the ecological chain of the intelligent robot industry.

It is reported that this conference showcases 45 smart robots, including 25 humanoid robots. Among them, Tesla's second-generation Optimus humanoid robot made its official appearance, with a 30% increase in walking speed as compared to the first generation's upright walking ability. Its fingers have also evolved to perform tasks such as perceiving and feeling, as well as easily and flexibly holding eggs or carrying heavy objects. The Optimus humanoid robot is expected to enter limited production next year, with more than 1,000 robots helping humans complete production tasks at Tesla factories. Tesla's goal is to produce 1 billion robots annually, accounting for over 10% of the market share. Its cost is controlled at around 0.01 million US dollars, and it is expected to be sold for 0.02 million US dollars.

In addition, Datt Robotics released the XR4, which carries the large model RobotGPT for embodied intelligence research. Yushu Technology's H1 robot became the world's first full-sized electric drive humanoid robot capable of performing backflips. The "Guanghua No.1" humanoid robot developed by Fudan University can read human facial expressions and generate corresponding emotional responses. Additionally, the first open-source humanoid robot in China, "Qinglong", was officially released.

Regarding policy, on June 24th, the National Development and Reform Commission, together with the Ministry of Agriculture and Rural Affairs, the Ministry of Commerce, the Ministry of Culture and Tourism, the State Administration for Market Regulation and other departments, issued a notice on "Measures for Creating New Scenes for Consumption and Cultivating New Growth Points." It has brought new opportunities and challenges for the development of the humanoid robot industry. The notice clearly stated that it is necessary to expand the functions of intelligent robots in areas such as cleaning, entertainment, leisure, elderly care, disability assistance, and education and training, and to explore the development of humanoid robots based on large-scale artificial intelligence models. This policy demonstrates the country's emphasis on the humanoid robot industry and provides direction for its development.

In terms of industry trends, on July 1st, Ubtech announced a partnership with FAW-Volkswagen to jointly explore the deep application of humanoid robots in industrial scenarios at FAW-Volkswagen's national-level intelligent manufacturing demonstration factory in Qingdao, China. This cooperation will introduce the industrial version humanoid robot Walker S to perform tasks such as tightening bolts, installing parts, and transporting parts during the automotive manufacturing process. The two sides will also work together in industrial logistics robots, the supply chain, and other fields to help reduce the cost of humanoid robot hardware.

According to the Humanoid Robot Alliance, in its recent development, the Anhui Province Humanoid Robot Industry Innovation Center was approved to build a domestically unique and world-leading humanoid robot research base around key needs in such areas as industrial production, high-risk operations, medical care for the elderly, cultural education, public security patrol, and disaster relief. In addition, two Tsinghua-based humanoid robot companies, Xingyu Era and Jinghua Chuangxing, have officially settled in the Sichuan Province Intelligent Computing Chip and System Innovation Center, which will be located in the IC Design Industry Park in the Chengdu Hi-Tech District. This will help Chengdu seize the high ground of humanoid robot industry, shape new competitive advantages in future industry competition, and accelerate the formation of new quality production forces.

According to Yongxing Securities, with the continuous introduction of positive policies related to humanoid robots and the proactive layout of various regions, it is expected to promote the integrated development of the entire chain of production, learning, research, and usage of humanoid robots, and promote the accelerated development of the industry. In addition, Chinese parts manufacturers with advantages in the supply chain are expected to benefit from the cost reduction demand of humanoid robot manufacturers represented by Tesla.

According to GGII's predictions, the growth rate of China's humanoid robot market scale will be higher than the global average level. It is expected that the market scale of China's humanoid robot market will be 2.158 billion yuan in 2024 and 38 billion yuan in 2030, with a compound growth rate of more than 67%.

Zheshang Securities pointed out that with the support of leading manufacturers in AI, electric vehicles, consumer electronics, and industrial robots, it is expected that the humanoid robot industry will enter small-scale mass production year in 2024, and the progress of industrialization landing is expected to exceed expectations. As a field in which Chinese manufacturers can participate deeply in the global AI trend, domestic manufacturers have great opportunities for development.

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.