Open Source Securities believes that humanoid robots are expected to exceed expectations in mass production in 2025-2026 both domestically and internationally.
According to Zhitong Finance APP, Kaiyuan Securities released a Research Report stating that humanoid robots in domestic and foreign markets are expected to exceed expectations in mass production from 2025 to 2026. Finding high-quality suppliers that can respond quickly to demand and maintain stable mass production has become an urgent task. Instead of speculating about the supply chain, it is more crucial to focus on key common technologies with higher certainty (those that align with industrial development trends, can be optimized but will not be replaced), as well as core supply chain links and key enterprises (companies that have long been cultivated have competitive advantages). Areas of focus include: actuators, electric machines, transmission components (lead screws, reducers), dexterous hands (micro motors, micro lead screws and gearboxes, springs), cerebellum/control, Sensors, Other parts (such as wiring harness connectors) and equipment tools.
KYG Securities' main points are as follows:
Our country is starting the offensive to land humanoid robots from the 'scene.'
The landing of robot application scenarios has become one of the key directions. For example, the 'Action Plan' released by Peking clarifies the acceleration of the replacement of dangerous, repetitive, and heavy positions by embodied intelligent robots. The most important aspect of humanoid robots is the scene, from 'being created' to 'being used.' On the technical side, robots need to collect a vast amount of data from the physical world to optimize algorithms and models, achieving general intelligence; at the same time, scene testing and verification drive rapid technological iteration. On the commercial side, vertical scene demands are clear, allowing for targeted design and mass production, thus reducing costs; while quickly forming a closed loop on the commercial front. On the industrial side, it can drive new demands for upstream components and downstream data services, testing, leasing maintenance, etc., thus forming a complete humanoid robot ecosystem. The institution believes that data training (for car manufacturers, dedicated training grounds), mining, hazardous chemicals, electrical utilities, and fire protection will become priority landing scenarios and are expected to benefit significantly from subsequent policy support.
Resonating both domestically and internationally, domestic robots are accelerating evolution leveraging advantages in scenes and supply chains.
Overseas Tesla robots have appeared multiple times in company promotional videos, showcasing the execution of multiple tasks, as the release of the Gen3 robot approaches; Figure has successively released the Helix model and demonstrated collaborative work among multiple robots on production lines. Domestic robots are breaking new ground, leveraging advantages in scenes and supply chains: Zhiyuan will release its self-developed Zhiyuan Qiyuan large model on March 10; Xiaomi has been announcing robot-related patents and job recruitments frequently, expecting to showcase the latest advancements and gradually bring them to production lines by March-April; Xpeng robots have already been put into use at the Guangzhou factory and plan to achieve mass production of Level 3 by 2026. Yushu, Ubtech, and Zhongqing are also continuously reporting the latest developments. There has been a resonance in the development of robots both domestically and internationally, with domestic robots accelerating evolution, potentially landing in application scenarios faster than overseas counterparts.
Investment advice.
(1) Scene Implementation: Recommended symbol: Warom Technology Incorporated (Hazardous Chemicals); Benefitting symbols: Hunan Sundy Science And Technology (Mining), Yunjigroup (Mining), Yijiahe Technology (Electrical Utilities), Jingye Intelligent (Electrical Utilities Specialty), Hangzhou Shenhao Technology (Electrical Utilities) (2) Core Components: (1) Actuator: Recommended symbol: Zhenyu Technology; Benefitting symbols: Ningbo Tuopu Group, Anhui Zhongding Sealing Parts; (2) Screw Rod: Recommended symbol: Zhejiang XCC Group; (3) Dexterous Hand: Benefitting symbols: Fengli Intelligent, Shenzhen Zhaowei Machinery & Electronics, Wuxi Longsheng Technology; (4) Cerebellum/Operation Control: Recommended symbol: China Leadshine Technology; Benefitting symbols: GRC Technology; (5) Sensor: Benefitting symbols: Amperel, Xindong Lian Technology; (6) Electric Machine: Benefitting symbols: Kinco Automation (Shanghai) Co.,Ltd, Shanghai Moons'Electric; (7) Reducer: Recommended symbol: Ningbo Zhongda Leader Intelligent Transmission; (8) Other Components: Benefitting symbols: Zhucheng Technology (Connector), Zhejiang Meili High Technology (Spring); (9) Shovel Stocks: Recommended symbol: Est Tools Co., Ltd.; Benefitting symbol: Hangzhou Jizhi Mechatronic.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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