"机器人要变成一个'人'，人的'五感'它就都应该有，这需要一个底层技术感知，也就是要用到大量的传 感器。"近日，汉威科技董事长任红军在接受上海证券报记者专访时表示，机器人将给传感器产业带来 巨大的发展机遇，这是一个规模比工业市场还要大的市场。 任红军表示，传感器是一个被全社会公认为的、在未来一二十年有很大发展潜力的行业，未来传感器不 仅会大量应用在工业、家庭、养老、监控等各行各业，也会在机器人领域广泛使用。为此，汉威科技始 终坚持布局传感器产品矩阵。 AI+具身智能的新机遇 当记者走到汉威科技的展台时，迎面看到的屏幕上就是机器人和传感器的图像。 "一个真正智能的机器人，它的核心基础之一是传感器，没有感知的机器人，不会是一个真正智能的机 器人。"谈及机器人与传感器的关系，任红军脱口而出，机器人要实现同人类一样的五感（视觉、嗅 觉、味觉、听觉、触觉），传感器就是机器人的"电子五官"。 在任红军看来，传感器作为"感知世界的触角"，是AI与具身智能发展的核心基础设施。"如果把AI比作 智能体的'大脑'，具身智能看作其'躯干'，那么传感器就是遍布全身的'神经末梢'。没有高精度、多维度 的传感数据输入，再先进的算法也无法 ...

Core Viewpoint - Elon Musk emphasized that Tesla is fully committed to scaling the Optimus project, defining it as the most important product in the company's history, with expectations that it will account for 80% of the company's future value [2][6]. Group 1: Production Timeline and Goals - Tesla aims for internal limited production and testing of thousands of Optimus units by 2025, ramping up to 50,000-100,000 units for external sales in 2026, and targeting an annual production of 1 million units within five years [2]. - The current supply chain for Optimus is based on the design of Optimus V2, with actuators and sensors each accounting for approximately 30% of material costs [4]. Group 2: Supply Chain and Component Suppliers - The supply chain for Optimus includes Tier 1 suppliers such as Sanhua Intelligent Controls and Top Group for actuators, and Mingzhi Electric and Zhaowei Electromechanical for dexterous hands [7]. - Key component suppliers include Shuanghuan Transmission and Lide Harmony for reducers, Best for lead screws, and Rongtai Health for insulation parts [7]. - International Tier 1 suppliers include Amphenol for cables, TE Connectivity for six-dimensional torque sensors, and THK for lead screws [8]. Group 3: Challenges and Development Needs - Current challenges for Optimus include hardware issues such as overload and overheating of joint motors, insufficient dexterity and load capacity of dexterous hands, and the lifespan of transmission components [10]. - There is a need for improved compatibility between hardware and software, particularly in complex dynamic environments and multi-task coordination [10]. Group 4: Thermal Management Solutions - The thermal management system for Optimus V3 is similar to that of electric vehicles, focusing on the management of key components like batteries and motors [11]. - Sanhua Intelligent Controls is developing liquid cooling modules for Optimus, leveraging its experience in electric vehicle thermal management to address overheating issues in robotic joints [13]. - Sanhua plans to deliver approximately 2,000 actuators to Tesla by Q3 2025, with an annual order forecast of 5,000-10,000 units [13]. Group 5: Industry Trends and Future Outlook - Domestic suppliers are increasing investments to meet the demand for high-performance, miniaturized thermal management components for robots [14]. - The year 2025 is anticipated to be a pivotal year for humanoid robot mass production, with 2026 expected to be a critical turning point for the industry landscape [14]. - The upcoming iTherM 2025 conference will address advanced thermal management technologies and materials relevant to humanoid robots [15].

Investment Rating - The report suggests a focus on the robotics industry, particularly on whole machine manufacturers and core component suppliers, with an overall investment rating of "Neutral" for the industry [26]. Core Insights - The humanoid robotics sector is experiencing a dual momentum of "technological deepening" and "scene landing," indicating a positive outlook for the robotics industry [2]. - Google has launched the latest Gemini Robotics 1.5 series, enhancing robot autonomy and task execution capabilities through advanced models [4][16]. - The report highlights significant investment opportunities in various segments of the robotics supply chain, including motors, joints, sensors, and more [18]. Summary by Sections Industry News and Company Dynamics - Jiangsu Donghua Testing Technology Co., Ltd. signed a strategic cooperation agreement with Nantong Zhenkang Machinery Co., Ltd. to enhance collaboration in robotic joint module technology [6]. - Fourier's third-generation humanoid robot GR-3C made its debut at the 2025 Industrial Expo, showcasing advanced design and capabilities [7]. Investment and Financing Dynamics - 1X Robotics is seeking to raise up to $1 billion, aiming for a valuation of at least $10 billion, following the launch of its new home robot Neo Gamma [16]. - Quan Zhibo completed two rounds of financing exceeding 100 million yuan, focusing on talent development and R&D [16]. Investment Recommendations - The report recommends focusing on key robotics component suppliers, including: 1. Motors: Mingzhi Electric 2. Rotating joints: Zhongchen Technology, Shuanghuan Transmission, Landai Technology 3. Linear joints: Hengli Hydraulic 4. Dexterous hands: Zhaowei Electromechanical 5. Encoders: Yap Technology, Fengqiao Technology 6. Sensors: Donghua Testing, Keli Sensor, Anpeilong, Hanwei Technology 7. Screw equipment: Qinchuan Machine Tool, Huachen Equipment 8. Bearings: Longxi Co., Ltd. [18][19]

Core Viewpoint - The company has developed a flexible wearable motion capture suit based on elastic sensing technology, which can transmit human motion data in real-time to robotic systems for action demonstration, training, and even remote control [1] Group 1 - The company is actively collaborating with multiple robotic manufacturers to implement its remote-controlled robotic interaction gloves [1] - The product solution is still in the early stages of development, and investors are advised to make cautious decisions regarding investments [1]

Group 1 - The company has confirmed that its electronic skin can be applied in humanoid robots, as disclosed in previous public information [2] - The company has the capability for mass production of its electronic skin products [2]

Core Viewpoint - The company, Hanwei Technology, has confirmed that its sensor products based on MEMS and electrochemical principles can detect target gases released by solid-state batteries, indicating a potential application in the solid-state battery sector [2]. Group 1 - The company has received project designations from leading domestic manufacturers for its sensor products [2]. - Small batch orders have been submitted to major domestic battery companies and manufacturers for testing purposes [2].

汉威科技（300007.SZ）9月28日在投资者互动平台表示，公司传感器产品在机器人应用领域订单及客户 数量较年初均有所增长，营收占比同步提升。但由于上述行业的产业规模尚处于早期阶段，目前占整体 营收比重仍然较低，暂不会对公司经营业绩产生重大影响。 每经AI快讯，有投资者在投资者互动平台提问：关注到公司传感器业务在机器人领域的应用备受市场 关注。请问目前公司与机器人整机厂的合作，相比年初公告的送样、小批量供货阶段，是否有新的积极 进展？相关业务贡献的营收占比是否有提升趋势？ （记者 胡玲） ...

Group 1 - The core viewpoint is that Hanwei Technology (300007) has seen an increase in orders and customer numbers for its sensor products in the robotics application sector compared to the beginning of the year [1] - The revenue proportion from this sector has also increased, although it still represents a low percentage of the overall revenue [1] - The company indicates that the industry is still in its early stages, and thus, it will not have a significant impact on the company's operating performance at this time [1]

Core Viewpoint - Hanwei Technology announced on September 28 that its products, including laser sensors, accelerometers, and inertial navigation systems, can be applied in the military industry [1] Group 1 - The company has a range of products suitable for military applications [1]

Core Viewpoint - Hanwei Technology holds the leading market share in domestic gas sensors, with flexible sensors opening up growth opportunities [1] Group 1: Market Position and Product Focus - The company focuses on its core business, with high-margin sensors and smart instruments continuously increasing their revenue share [1] - Hanwei Technology consolidates its existing advantages in gas sensors while actively advancing its layout in optoelectronic and flexible sensors, being one of the earliest companies in China to engage in flexible sensor R&D [1] - The company has a globally leading capability in the industrialization of flexible sensors [1] Group 2: Performance and Growth Potential - The main business is experiencing a performance inflection point, with improved profitability [1] - The humanoid robot segment is entering an expansion phase, with electronic skin being a key component for achieving "embodied intelligence" [1] - The company has established a multi-dimensional product matrix covering "touch - balance - force control - smell" in the field of embodied intelligence [1] Group 3: Investment Rating - The report initiates coverage with an "Accumulate" rating [1]