SIASUN(SZ:300024) Di Yi Cai Jing·2025-06-30 08:52Core Viewpoint - Significant investments in the robotics industry primarily serve as an entry ticket for upstream component manufacturers, particularly in connector production, which plays a crucial role in the functionality and application of robots [1][16]. Group 1: Connector Importance - Connectors are essential components in robotics, acting as the "nervous system" that facilitates power and signal transmission between various parts [1][4]. - Despite accounting for only 1%-2% of the total bill of materials (BOM) cost of a robot, connectors significantly influence the technological capabilities and application limits of robotic systems [4][10]. - The performance of connectors, including speed and reliability, is critical for the effective operation of robots in real-world scenarios [4][10]. Group 2: Manufacturing Challenges - The development and mass production of new connectors face inherent conflicts between long mold cycles and cost control, which directly impact product costs and market competitiveness [2][11]. - The production process for connectors involves multiple stages, including injection molding, stamping, and electroplating, which contribute to the complexity and cost of manufacturing [5][9]. - Custom connector production requires significant investment in mold development, with hard molds taking at least three months to transition from design to mass production [13]. Group 3: Market Dynamics - The demand for connectors in humanoid robots is inconsistent, with manufacturers having varying requirements based on their previous industry experiences [14][16]. - TE Connectivity has adopted a strategy of initially producing standardized connectors before moving to customized designs as market needs become clearer [11][14]. - The robotics sector is witnessing increased investment from both established suppliers and new entrants, indicating a competitive landscape for core component manufacturing [16][17]. Group 4: Future Outlook - Continuous technological innovation and rapid response capabilities are essential for maintaining competitiveness in the robotics component market [14][17]. - The focus for manufacturers should be on balancing miniaturization, stability, and production costs while collaborating closely with upstream and downstream partners [17].