智通财经网·2025-12-23 11:35Core Insights - The report from Kaiyuan Securities highlights the significant role of structural components and hand coverings ("gloves") in humanoid robots, particularly in Tesla's Optimus robot, which has shown progress in lightweight design and strength balance [1][2]. Group 1: Structural Components - Structural components serve as the "skeleton and joint framework" in humanoid robots, directly influencing their ability to perform human-like movements and adapt to complex applications in various environments [2]. - The design of structural components in leading manufacturers like Tesla emphasizes motion adaptability, lightweight construction, strength balance, and long-term reliability [2]. - The market potential for structural components and gloves is estimated to exceed 10 billion yuan with the mass production of one million humanoid robots [1]. Group 2: Manufacturing Pathways - The manufacturing pathways for Optimus's structural components are expected to shift towards high-efficiency processes such as stamping, integrated die-casting, precision forging, and injection molding [3]. - Companies that can continuously iterate with original equipment manufacturers (OEMs) while advancing domestic capital expenditure and overseas capacity are likely to stand out [3]. Group 3: Hand Coverings ("Gloves") - The hand is the core end-effector for precise operations in humanoid robots, and the glove material is one of the most technically integrated and challenging components [4]. - Key technical requirements for gloves include ultra-thin design, high friction coefficient, excellent wear resistance, and potential integration of tactile and force sensing capabilities [4]. - The "glove-style fabric covering" is emerging as an ideal engineering choice, allowing for quick replacement and reduced maintenance costs, thus facilitating large-scale deployment [4][5].