2 1 Shi Ji Jing Ji Bao Dao·2025-09-05 11:58Core Insights - Tesla's Optimus humanoid robot has sparked a global supply chain frenzy, with four notable A-share companies—Zhaowei Electromechanical, Leisai Intelligent, Mingzhi Electric, and Jiangsu Leili—gaining attention as they enter Tesla's robot supply chain [1][2] - The focus of these companies is on the lucrative market for dexterous hands, with projections indicating a market size nearing 100 billion yuan by 2030 if humanoid robot production exceeds 3 million units [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 dexterous hand technology [5][6] - Leisai Intelligent has been proactive, forming multiple subsidiaries focused on high-density motors and dexterous hand solutions, and has already secured several commercial orders, indicating significant growth potential [6][7] - Jiangsu Leili is taking a more cautious approach, leveraging academic resources for dexterous hand R&D while exploring various technical routes, including cable-driven designs [7][8] - Mingzhi Electric, while less visible in the dexterous hand market, has established itself as a potential supplier for Tesla's hollow cup motors, with expectations for mass supply starting in Q1 2026 [8][12] Technical Comparisons - The dexterous hands from Zhaowei and Leisai both feature 20 degrees of freedom, but differ in their actuation methods, with Zhaowei using direct drive and Leisai employing a linkage system [10][11] - Leisai's dexterous hand boasts a superior load capacity of 40 kg per hand and 10 kg per finger, making it particularly suited for industrial applications [11][12] - Pricing strategies vary, with Zhaowei's products priced between 40,000 to 50,000 yuan, while Leisai's offerings are expected to be under 10,000 yuan, highlighting competitive positioning in the market [12] Financial Performance - In the first half of 2025, Zhaowei Electromechanical reported a revenue of 787 million yuan, a 21.93% increase, while Leisai Intelligent achieved 891 million yuan, an 8.28% increase [13][14] - Jiangsu Leili, despite being the largest in terms of revenue, reported a negative free cash flow of -17.5 million yuan, indicating financial challenges [13][14] - Mingzhi Electric experienced a 32.66% decline in net profit due to operational challenges, while Zhaowei and Leisai demonstrated strong cash flow positions, essential for future investments [14]