2 1 Shi Ji Jing Ji Bao Dao·2025-09-05 11:44Core Insights - Tesla's Optimus humanoid robot has sparked significant interest in the supply chain, particularly for four A-share companies: Zhaowei Electromechanical, Lead Intelligent, Mingzhi Electric, and Jiangsu Leili, as they are now part of Tesla's robot supply chain [1] - The focus of these companies has shifted towards the lucrative market of dexterous hands, with a projected market size nearing 100 billion yuan by 2030, driven by the anticipated production of over 3 million humanoid robots [2][3] Company Strategies - Zhaowei Electromechanical has adopted a dual approach of product development and ecosystem building, launching its first dexterous hand product in November 2024 and establishing a subsidiary dedicated to this technology [4] - Lead Intelligent has been proactive, forming multiple subsidiaries focused on high-density motors and dexterous hand solutions, and has already secured several commercial orders [5] - Jiangsu Leili is taking a more cautious approach, leveraging academic resources for dexterous hand development while exploring various technical routes [6] - Mingzhi Electric has gained recognition as a potential supplier for Tesla's hollow cup motors but has not yet made significant moves in the dexterous hand market [7] Technical Comparisons - The dexterous hands from Zhaowei Electromechanical and Lead Intelligent both offer 20 degrees of freedom, while Jiangsu Leili's design boasts 22 degrees, indicating a competitive edge in flexibility [9][10] - Lead Intelligent's dexterous hand can support a load of up to 40 kg, significantly higher than its competitors, which positions it favorably for industrial applications [10] - Pricing strategies vary, with Zhaowei Electromechanical's products priced between 40,000 to 50,000 yuan, while Lead Intelligent aims to keep its offerings under 10,000 yuan [11] Financial Performance - In the first half of 2025, Zhaowei Electromechanical reported a revenue of 787 million yuan, a 21.93% increase, while Lead Intelligent achieved 891 million yuan, an 8.28% increase [12] - Jiangsu Leili, despite being the largest in terms of revenue, reported a negative free cash flow of -17.5 million yuan, indicating financial strain [12][13] - Mingzhi Electric experienced a 32.66% decline in net profit due to operational challenges, highlighting the competitive pressures within the industry [13]