Tesla(US:TSLA) CHINA DRAGON SECURITIES·2025-06-23 09:02Investment Rating - The report maintains a "Recommended" investment rating for the humanoid robotics industry [2][28]. Core Insights - Short-term market fluctuations do not alter the long-term industry trends, with ongoing technological advancements and application scenarios continuing to progress [28]. - The report highlights the increasing number of players in the humanoid robotics sector globally and in China, emphasizing the importance of tracking production progress and supply chain developments [28]. Summary by Sections Market Review - From June 16 to June 20, 2025, the humanoid robotics index experienced a decline of 2.40%, while the Shanghai Composite Index and Shenzhen Component Index fell by 0.51% and 1.16%, respectively [12][14]. Industry Dynamics - Tesla's Optimus third-generation robot is set to be unveiled, with plans for a public launch in 2026 and a production target of over 100,000 units in the following year [17][18]. - Star Dynamics has launched the humanoid service robot Star Q5, which has received over 100 intention orders from various sectors including manufacturing and hospitality [19]. - Nvidia and Foxconn are in discussions to deploy humanoid robots at Nvidia's AI server factory in Houston, marking a significant milestone in the application of humanoid robots in manufacturing [24]. Investment Recommendations - The report suggests focusing on companies with high certainty and incremental technology, particularly monitoring Tesla's production progress and developments from domestic players like Huawei and Yushulian [28]. - Specific companies to watch include those in the Tesla chain such as Sanhua Intelligent Control and Top Group, as well as those in the Yushulian and Huawei chains [28][29].