Tesla(US:TSLA) China Post Securities·2025-07-28 02:39Industry Investment Rating - The industry investment rating is "Outperform" and is maintained [2] Core Viewpoints - The humanoid robot industry is experiencing accelerated iteration, driven by technological advancements, increased capital activity, and policy support, transitioning from research and development to commercialization [8][21] - 2025 is seen as a pivotal year for humanoid robots, marking the transition from "0-1" with both opportunities and challenges present [8][21] - The industry is approaching a critical inflection point, with the focus shifting from technological breakthroughs to production efficiency [8][21] Summary by Sections Industry Overview - The humanoid robot index increased by 1.07% during the week of July 21-25, 2025, with a year-to-date increase of 32.08% [15][16] - The index's performance ranked 8th from the bottom among 31 sub-industry indices [15][16] Important Industry Dynamics 1. Industry Development: - Tesla's Optimus humanoid robot project is progressing towards its final design version, with mass production expected to start in early 2026 [21][22] - The project aims for an annual production capacity of 1 million units by 2030 [21][22] 2. Commercialization Progress: - Companies like Ubiquity and Yushun Technology are securing significant orders, indicating a rapid commercialization pace [23][24] - Ubiquity's Walker S2 humanoid robot supports autonomous battery swapping, enhancing operational efficiency [23] 3. Technological Innovations: - ByteDance's GR-3 robot model introduces a training paradigm that significantly reduces data dependency, accelerating AI deployment [27] - Fourier's GR-3 robot focuses on medical and wellness applications, enhancing emotional interaction capabilities [28] Policy News - Premier Li Qiang emphasized the need for AI to develop in a beneficial and inclusive manner during the WAIC 2025, highlighting the importance of policy support and talent cultivation [33] Supply Chain Dynamics & Company Announcements - Dragon Flag Technology participated in the B-round financing of Zhiyuan Robotics, indicating confidence in the humanoid robot sector [36] - Xiangxin Technology made a strategic investment in Hengqu Motor, enhancing its position in the core components of humanoid robots [37] - Blue Dot Touch completed nearly 100 million yuan in B-round financing, focusing on high-precision sensors for humanoid robots [38][39]