银河证券：关注人形机器人、低空经济领域的投资机会

Group 1 - The core viewpoint is that humanoid robots are seen as ideal carriers for AGI, indicating a significant growth opportunity as the industry approaches mass production [1] - The humanoid robot industry is currently in a critical phase of transitioning from 0 to 1 in terms of production, still categorized as a thematic investment stage [1] - The easing monetary policy is expected to enhance liquidity, potentially leading to an increase in valuations for AI and humanoid robot sectors within this favorable liquidity environment [1] Group 2 - The low-altitude economy is anticipated to become a new economic growth point supported by policy initiatives [1] - It is recommended to focus on key segments of the low-altitude economy supply chain, including low-altitude equipment manufacturing, infrastructure construction, management assurance, and application services [1]