SIASUN(SZ:300024) Sou Hu Cai Jing·2025-08-13 18:35Core Viewpoint - The 2024 World Humanoid Robot Games in Beijing represents a significant shift from laboratory testing to real-world applications, showcasing the potential for commercial opportunities and industry restructuring in the humanoid robotics sector [1]. Event Highlights - The event features diverse project settings that closely resemble real-world applications, including tasks like hotel cleaning, factory material handling, and hospital drug sorting, indicating a move from "showcase" to "practical" robots [3][4]. - A unique "global first humanoid robot half marathon" tests robots' endurance, battery life, and coordination, highlighting technological integration and energy efficiency [3]. Participating Teams - Leading companies such as Xinghaitu, backed by Meituan, are providing exclusive robot solutions for the event, indicating strategic investments in end-service robotics [5]. - Yushu Technology is establishing itself as a foundational player in the industry with its open hardware ecosystem, akin to the Android model in smartphones [5]. - A diverse array of domestic companies, including Tiangong, Jiasu Jinhua, and Fourier, showcases China's multifaceted approach to humanoid robotics [5]. - Academic institutions and international teams from 15 countries are participating, emphasizing the integration of research and global competition in the field [5]. Technological Breakthroughs - Advances in visual recognition and modeling techniques are being demonstrated, such as a high-reflective object detection model developed by a team from Hefei [7]. - Yushu robots are noted for their stability and dynamic control during competitions, showcasing advancements in motion control [8]. - The R1 Pro from Xinghaitu exemplifies the potential of service robots through its ability to understand task processes and execute actions effectively [8]. Industry Trends - The humanoid robotics industry is transitioning from technology validation to commercial application, marking a pivotal moment for market entry [9]. - Capital is increasingly concentrating on a few leading companies, indicating a potential reshaping of the competitive landscape in the next 3-5 years [10]. - Collaboration across the supply chain, including sensors, motors, AI, and operating systems, is essential for success in the humanoid robotics sector [11]. Investment Logic - Attention should be directed towards foundational technology suppliers, such as those providing servo motors and visual recognition chips, which are critical to robotic functionality [12]. - Investment in platform companies like Yushu Technology and UBTECH, which offer robotic platforms and ecosystems, is recommended due to their growth potential [12]. - Companies focused on specific applications, such as Xinghaitu and Fourier, are positioned for clear commercial pathways and profitability [12].