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中信建投:人形机器人迎密集催化期
Xin Lang Cai Jing·2025-08-06 23:53

Core Viewpoint - The humanoid robot sector is experiencing a recovery in sentiment due to significant changes in both domestic and international robot industry chains, following a period of substantial pullback [1] Domestic Industry Developments - Domestic manufacturers of humanoid robots are continuously securing order breakthroughs, indicating that commercialization efforts are gradually moving towards practical implementation [1] - Yuzhu has completed its IPO counseling filing, and leading domestic robot manufacturers are accelerating their capitalization processes, which is expected to attract widespread attention and further increase capital expenditure across the industry [1] International Industry Developments - Tesla's humanoid robot is still undergoing continuous optimization, and domestic supply chain companies are also releasing positive signals [1] Future Catalysts - Upcoming major events such as the 2025 World Artificial Intelligence Conference, the 2025 World Robot Conference, and the 2025 World Humanoid Robot Games are anticipated to provide ongoing catalysts for the sector [1] Investment Opportunities - The company suggests focusing on "AI + robotics" investment opportunities beyond just humanoid robots, including areas such as sensors, dexterous hands, robotic dogs, exoskeleton robots, and vertical applications, which have favorable competitive landscapes and do not necessarily depend on the volume growth of humanoid robots for validation [1]