According to Zhito Finance APP, CITIC SEC has released a Research Report stating that recently, Tesla (TSLA.US) has continuously presented progress on humanoid robots. The operational precision and generalized versatility of the robots are continuously iterating and upgrading, and Tesla is expected to lead the humanoid robot Industry, being the first to achieve practical applications. In various regions such as Hangzhou and Chongqing, policies to support the humanoid robot Industry have been issued. With the support of national and local Industry policies, the domestic humanoid robot Industry Chain is entering a phase of rapid development. Next year is likely to be the year of mass production for humanoid robots, and domestic supply chain companies are expected to benefit from this. It is recommended to focus on the core symbols of Tesla's robot Industry Chain.

Matter:

Recently, Tesla has continuously showcased the progress of its humanoid robots, and local governments have introduced policies to support the development of the humanoid robot Industry.

The main points of the Citic Securities research report are as follows:

Tesla released a video of a robot catching a tennis ball, highlighting the upgraded dexterous hand capabilities.

On November 28, 2024, Tesla released a video showcasing the robot's progress. In the video, Tesla's robot is equipped with a new generation of dexterous hands that can catch tennis balls flying through the air. The video shows that the new generation of dexterous hands has increased joint movement directions and the number of degrees of freedom is double that of the previous version. At the same time, the new generation dexterous hands place the actuators on the forearm, controlling finger movements through tendon-like ropes, reducing the weight of the hands and enhancing agility. Although the robot in the video is controlled by remote operation, Musk stated that in the next quarter, the robot will complete the same tasks under fully autonomous conditions. The dexterous hand is one of the main upgrades of Tesla robot Gen3, and the complexity and importance of the dexterous hand are continuously increasing. After the hardware and Software compatibility of the dexterous hand is completed, the integration and release of the whole machine will also be implemented shortly.

The robot walks on rugged outdoor terrain, demonstrating strong balance and walking capabilities.

On December 10, 2024, Tesla released a video of a robot walking on rough outdoor terrain while maintaining balance, with Musk emphasizing that the entire process was 'blind', using no visual information, relying solely on foot mechanics perceived through a neural network to achieve bodily balance. Tesla's robot has a complete force control perception capability, and with the support of neural networks, it possesses strong terrain adaptability and stability. The robot can walk not only on the flat ground inside factories but also on rugged outdoor surfaces. With the subsequent integration of visual information and force perception information, the walking stability of robots will continue to improve, and the application scenarios for robots are constantly expanding.

Multiple regions have released support policies for the humanoid robot industry to create industrial clusters.

At the end of November 2024, Hangzhou officially released the "Hangzhou Humanoid Robot Industry Development Plan (2024-2029)", proposing key task measures from 15 aspects to empower the high-quality development of the robot industry; at the beginning of December, the Chongqing Economic and Information Commission and seven other departments jointly issued the "Several Policy Measures Supporting the Innovative Development of Embodied Asia Vets Robot Industry in Chongqing", supporting enterprises in the embodied Asia Vets robot field to establish high-tech enterprises. Following last year's issuance of the "Guiding Opinions on the Innovative Development of Humanoid Robots" by the Ministry of Industry and Information Technology, Peking, Shanghai and other places have successively released support policies related to the humanoid robot industry to support local robot Industry Chain enterprises' development, establish innovation carriers, and create industrial clusters. Supported by national and local industrial policies, the humanoid robot industry chain will enter a rapid development stage.

Risk factors:

The progress of robot technology is slower than expected; the development potential of robot application scenarios is lower than expected; the implementation strength and progress of policies are lower than expected; industry competition is intensifying; and there are risks of stricter regulatory policies.