机械：人形机器人板块催化不断，研发+政策齐促商业化进程加速推进

Investment Rating - The report maintains an "Outperform" rating for the robotics sector, indicating a positive outlook compared to the broader market [2]. Core Insights - The humanoid robot sector is experiencing accelerated commercialization driven by both technological advancements and supportive policies [2][3]. - Recent developments include the launch of several humanoid robots, such as Tesla's Optimus, Boston Dynamics' Atlas, and the domestic Konka-1, showcasing significant advancements in autonomous capabilities and performance metrics [2][3]. - Local governments are implementing supportive policies to foster the growth of robotics applications across various sectors, with a focus on manufacturing, agriculture, and public services [3]. - The capital market is showing strong interest in the humanoid robot sector, with multiple companies securing significant funding in recent months, indicating robust investor confidence [4][6]. Summary by Sections Product Developments - Tesla's Optimus has achieved major improvements in autonomous navigation, allowing it to navigate complex environments independently [2]. - Boston Dynamics' Atlas has begun operating in factories, demonstrating full automation capabilities without pre-set instructions [2]. - The SE01 humanoid robot from Zhongqing has been launched, featuring advanced motion capabilities and a competitive price point [2]. - The Konka-1 humanoid robot, developed in Chengdu, is noted for its lightweight design and impressive performance metrics, including a maximum load of 5.5 kg and an 8-hour battery life [2]. Policy Developments - The Chongqing government has introduced a "Robot+" application action plan aimed at integrating robotics into various economic sectors by 2027 [3]. - The plan emphasizes the development of key technologies and the establishment of benchmark enterprises in the robotics field [3]. Capital Market Activity - The humanoid robot sector has seen 11 financing events exceeding 100 million yuan in the first three quarters of 2024, reflecting strong market interest [4]. - Companies like Ling Sheng Technology and Zhi Xing Robotics have successfully completed significant funding rounds to support their R&D efforts [6]. Investment Recommendations - The report suggests focusing on companies within the humanoid robot supply chain that demonstrate high certainty in their operations and those addressing critical localization challenges [6].