SIASUN(SZ:300024) 3 6 Ke·2025-12-22 09:09Core Viewpoint - The humanoid robot industry is experiencing a "Spring Festival Gala competition" as companies invest heavily for exposure opportunities, raising concerns about potential market bubbles and the maturity of the technology [1][2][3]. Industry Overview - Over 150 humanoid robot companies exist in China, with more than half being startups or companies from other sectors, growing at over 50% annually [1][3]. - The industry faces challenges in technology routes, commercialization models, and application scenarios, indicating that the market is not yet fully mature [1][3]. Market Dynamics - The exposure from the Spring Festival Gala has significantly increased interest and rental prices for humanoid robots, with daily rental rates reaching 20,000 yuan and equipment prices surging over 200% [2][3]. - Despite the hype, the actual application of humanoid robots remains limited, with most being used for entertainment rather than practical tasks, leading to a sharp decline in rental orders by the end of 2025 [2][3]. Regulatory Response - The National Development and Reform Commission (NDRC) has warned of risks such as high product redundancy and squeezed R&D space, advocating for a robust industry entry and exit mechanism [2][4][5]. - The NDRC emphasizes the need to accelerate core technology development and real-world application of humanoid robots, shifting focus from quantity expansion to quality and effectiveness [5][6]. Future Outlook - The consensus is forming that the true test for humanoid robots lies in industrial applications rather than entertainment, with companies exploring practical uses in logistics, inspection, and other sectors [6][7]. - The long-term value of humanoid robots is recognized, but they must overcome initial stages of being perceived as mere toys or performance devices to achieve real utility in various fields [5][6][7].