先进制造行业周报：智元推出通用具身模型，人形机器人产业端进展加速-2025-03-19

Investment Rating - The industry investment rating is "Overweight" [3][22]. Core Viewpoints - The humanoid robot industry is entering a critical breakthrough phase, with global cumulative demand expected to reach approximately 2 million units by 2030 [6][17]. - The report highlights the acceleration of N-type penetration in photovoltaic equipment, enhancing the competitiveness of leading companies [6][17]. - Energy storage is essential for building a new type of power grid, with favorable policies boosting industry prosperity [6][17]. - The semiconductor equipment market is projected to reach $140 billion by 2030, with an increasing share from mainland China [6][17]. - The automation market is expected to grow from approximately 40 billion to 55.7 billion by 2026, benefiting from increased concentration and import substitution [6][17]. - Green hydrogen aligns with carbon neutrality goals, with rapid development in photovoltaic and wind energy laying the foundation for hydrogen production [6][17]. - The engineering machinery sector favors leading companies with product, scale, and cost advantages [6][17]. Summary by Sections Investment Recommendations - Key recommendations include companies such as Beite Technology, Zhaowei Electromechanical, Hengli Hydraulic, and others [4][6]. Industry Focus - The report emphasizes tracking industries such as photovoltaic, energy storage, and lithium battery equipment [17][19]. Humanoid Robot Industry - Recent catalysts in the humanoid robot supply chain include the launch of the Genie Operator-1 model by Zhiyuan Robotics and the introduction of the reverse planetary roller screw by Shuanglin Co., which significantly enhances performance [7][10]. - The report suggests focusing on leading companies in the humanoid robot supply chain, categorized into various chains such as Tesla, Huawei, and Figure [15][17]. Photovoltaic and Energy Storage - The photovoltaic sector is experiencing a shift towards N-type technology, with leading companies like Maiwei and Jiejia Weichuang recommended for investment [17]. - Energy storage is gaining momentum due to favorable policies, with companies like Xingyun and Kexin New Energy highlighted for their strategic positions [17]. Semiconductor and Automation - The semiconductor equipment market is expected to double in the next decade, with a focus on domestic alternatives [19]. - The automation market is projected to grow significantly, with recommendations for companies benefiting from increased concentration and import substitution [19].