从国际人形机器人技能大赛看具身智能商业化进程

Investment Rating - The industry investment rating is "Overweight" [3][32]. Core Insights - The humanoid robot industry is entering a critical breakthrough phase, with a projected global cumulative demand of approximately 2 million units by 2030, favoring Tier 1 and core component suppliers [6][26]. - The report emphasizes the importance of the 2025 International Humanoid Robot Skills Competition, showcasing the capabilities of robots in real-world applications [7][26]. - Key recommended companies include Xinjie Electric, Beite Technology, Hanwei Technology, Zhaowei Electromechanical, Hengli Hydraulic, and Nuwei Co., among others [4][6]. Summary by Sections Humanoid Robots - The competition focuses on the practical application capabilities of humanoid robots, assessing their autonomous perception, decision-making, and execution abilities [5][7]. - The competition features five tracks covering 28 challenging scenarios, attracting over 60 top teams from various institutions [7][10]. - The report highlights the core component technology innovations in humanoid robots, including integrated joints, sensors, controllers, and electronic skin [21][26]. Photovoltaic Equipment - The penetration rate of N-type technology is accelerating, enhancing the competitiveness of leading companies [27]. - The report suggests focusing on companies like Maiwei Co. and Jiejia Weichuang for their technological innovations and customer bases [27]. Energy Storage - The energy storage sector is experiencing significant policy support, driving growth in both generation and user-side storage [27]. - Companies like Xingyun Co. and Kexin New Energy are highlighted for their strategic partnerships and product offerings in the energy storage market [27]. Semiconductor Equipment - The semiconductor equipment market is expected to reach $140 billion by 2030, with a growing share from domestic manufacturers [28]. - The report recommends focusing on companies like Zhongwei Company and Beifang Huachuang for their potential in the domestic market [28]. Automation - The market for industrial consumables is projected to grow from 40 billion to 55.7 billion by 2026, with opportunities for leading companies due to increased concentration and import substitution [28]. - Companies like Huarui Precision and Oke Yi are suggested as key players in this sector [28]. Hydrogen Energy - Green hydrogen aligns with carbon neutrality goals, with rapid development in photovoltaic and wind energy supporting hydrogen production [27]. - The report recommends companies like Longi Green Energy and Yihua Tong for their integrated advantages in the green hydrogen industry [27].