人形机器人产业周报：它石智航完成天使轮融资，宇树更新进展

Investment Rating - The report maintains a "Recommended" rating for the humanoid robot industry, indicating that the industry index is expected to outperform the benchmark index by more than 10% [28]. Core Insights - The humanoid robot concept index experienced a decline of 3.90% from March 23 to March 28, 2025, underperforming the CSI 300 index by 3.91 percentage points. However, year-to-date, the humanoid robot index has increased by 38.26%, outperforming the CSI 300 index by 35.78 percentage points [2][11]. - The report highlights significant developments in the humanoid robot sector, including advancements in technology, policy support, and substantial investments in the industry [3][5]. Weekly Market Review - The humanoid robot index's performance from March 23 to March 28, 2025, showed a decline of 3.90%, while the year-to-date performance indicates a rise of 38.26% [11]. - The report notes that the humanoid robot industry is gradually ramping up production, with major manufacturers providing guidance for thousands of units, benefiting component suppliers and upstream equipment manufacturers [5]. Weekly Hotspots Policy Developments - The Ministry of Commerce announced the establishment of a new consumption technology exhibition area at the upcoming Consumer Expo, focusing on cutting-edge technologies including humanoid robots [3][19]. - Policies from Chongqing and Guangxi emphasize the development of intelligent driving technologies and the humanoid robot industry [3][20]. Product and Technology Iteration - The report mentions various technological advancements, including the introduction of emotional support humanoid robots and significant production orders for domestic manufacturers [3][21][22]. - Notable achievements include the demonstration of complex movements by humanoid robots, showcasing their advanced capabilities [3][21]. Investment and Financing - Significant investments in the humanoid robot sector include a $120 million angel round financing for TARS and nearly 100 million yuan in B-round financing for Cheng Tian Technology [3][24][25]. - Companies like Qiangrui Technology are expanding their supply chains through strategic acquisitions [3][24]. Key Company Announcements - Meihu Co. reported a design capacity of 50,000 sets per year for its harmonic reducer production line, indicating a strong market outlook [4][25]. - The report also highlights various collaborations and contracts signed by companies in the humanoid robot sector, including partnerships with academic institutions for technology development [4][25].