Tesla(US:TSLA) Shanghai Securities·2025-07-15 07:20Core Insights - The report maintains a bullish outlook on the humanoid robot industry, emphasizing opportunities in both domestic and international supply chains and application sectors [1][3] - The emergence of Tesla's Optimus project is seen as a catalyst for industry transformation, marking the beginning of mass production in humanoid robots [5][6] - The report highlights the collaboration between major tech companies like Huawei, Tencent, and Baidu with humanoid robot firms, indicating a trend towards integrated technological advancements [12] Group 1: International Supply Chain - Tesla's Optimus project exemplifies the automotive industry's entry into robot self-research, with hundreds of companies involved in developing the first complete humanoid robot supply chain [6] - The report notes that Tesla aims to produce thousands of Optimus robots by 2025, with plans to scale production to 500,000 units by 2030 [7] - The cost of producing the Optimus robot is projected to decrease from $200,000 to $20,000 through the reuse of automotive supply chains [8] Group 2: Domestic Supply Chain - The report identifies Figure, founded by Brett Adcock, as a promising player in the humanoid robot sector, leveraging past entrepreneurial successes [9] - Figure's first humanoid robot, Figure 01, was launched in October 2023, showcasing capabilities such as learning tasks through human demonstration [10] - The report outlines significant funding rounds for Figure, including a $675 million Series B round in February 2024, with investments from major tech firms [10] Group 3: Application Sectors - The report discusses the evolution of the elderly care robot industry towards more humanized, specialized, lightweight, intelligent, and widespread applications [13] - Exoskeleton robots are expanding from industrial applications to elderly care, assisting caregivers and enhancing mobility for seniors [14] - Bionic robots are rapidly finding applications in cultural tourism, serving as guides and performers, thus enhancing the visitor experience [15] Group 4: Industry Chain Recommendations - The report suggests monitoring key players in the Tesla robot supply chain, including companies like Sanhua Intelligent Controls and Top Group [16] - For the elderly care and exoskeleton robot sectors, companies such as Ousheng Electric and MediTech are highlighted as potential investment opportunities [17]