“情绪向左产业向右”，这一板块吸金盖过商业航天丨每日研选

Core Viewpoint - The humanoid robot sector is experiencing renewed interest from investors, with significant capital inflow observed recently, indicating a potential recovery in market sentiment after a period of decline [1] Group 1: Market Dynamics - As of late November, the humanoid robot index, comprising 110 companies, saw its trading volume drop to 23.7% of the total A-share trading volume, reflecting a significant decrease in market attention [1] - The sector has undergone a price correction, with some stocks returning to relatively reasonable or undervalued levels, suggesting a high safety margin and investment value [1] - The current market sentiment is characterized by a divergence between emotional responses and industrial advancements, presenting opportunities for contrarian investments [1] Group 2: Technological Advancements - The humanoid robot industry is witnessing a qualitative transformation, with significant improvements in motion control capabilities, as demonstrated by robots like Yuzhu G1 and Tesla's Optimus [1] - The timeline for mass production is becoming clearer, with Tesla planning to prepare prototype production by February-March 2026, and other domestic companies like Xpeng aiming for mass production by the end of 2026 [2] Group 3: Financial Support - Substantial financing is fueling the industry, with Galaxy General securing over $300 million in new funding, setting a record for the humanoid robot sector, and bringing its total financing to approximately $800 million [2] - The establishment of the world's first humanoid robot power battery PACK production line by CATL signifies a major investment in intelligent manufacturing, enhancing the credibility of the sector [2] Group 4: Policy Support - Local government policies are increasingly supportive of the humanoid robot industry, with initiatives in places like Luoyang and Shandong promoting the development of related technologies and products [3] - Large-scale equipment renewal policies are providing a safety net for the manufacturing sector's transformation, indirectly benefiting the robot industry [3] Group 5: Investment Focus - Future investment strategies in humanoid robots will center around "mass production realization" and "capability evolution," with value transmission expected along the supply chain from complete machines to core components [4] - Companies with established positions in high-value segments such as joints, sensors, and dexterous hands are likely to see more pronounced earnings certainty [4] - The hand, as a critical execution unit for humanoid robots, presents significant engineering challenges, and firms with deep expertise in materials and processes are expected to benefit from the upcoming growth in humanoid robot production [4]