机器人行业周报：中国工业机器人密度超越德国日本，升至全球第三

Investment Rating - The report maintains an "Outperform" rating for the robotics industry, indicating expected returns above the market benchmark over the next six months [1]. Core Insights - China has surpassed Germany and Japan in industrial robot density, ranking third globally, with 470 robots per 10,000 employees, more than double the figure from 2019 [27][29]. - In 2023, China installed 276,000 industrial robots, accounting for 51% of the global new installations, with a projected annual growth rate of 5% to 10% in the manufacturing sector's demand for robots by 2027 [29]. Summary by Sections Market Review - During the week of November 18 to November 24, the robotics index outperformed the broader market, with the CSI Robotics Index down 1.3%, but outperforming the Shanghai Composite Index by 0.6 percentage points [21]. Industry Dynamics - The International Federation of Robotics reported that the global average robot density reached a record high in 2023, with South Korea leading at 1,012 robots per 10,000 employees, followed by Singapore and China [27][29]. - The report highlights significant advancements in robotics technology, including the completion of a full marathon by KAIST's quadruped robot "Raibo 2," showcasing its capabilities in complex environments [30][31]. Financing Dynamics - Beijing Galaxy General Robotics completed a strategic round of financing amounting to 500 million RMB, following a record 700 million RMB in angel round financing earlier this year [43]. - Daimon Robotics announced two rounds of financing, focusing on the development of tactile sensors and multi-modal perception models for precision robotic applications [44].