宇树发布第三款人形机器人，优必选WalkerS2正式亮相

Investment Rating - The industry investment rating is "Overweight" [1] Core Views - The humanoid robot industry is entering a critical breakthrough phase, with global cumulative demand expected to reach approximately 2 million units by 2030 [4] - The report highlights the launch of new humanoid robots by companies like Yushu and UBTECH, indicating a competitive landscape with significant advancements in technology [4][5] - The report emphasizes the importance of focusing on leading companies in the humanoid robot supply chain, including those linked to Tesla, Huawei, and other key players [19] Summary by Sections Humanoid Robots - The report tracks the humanoid robot sector closely, noting the recent launch of Yushu's "Unitree R1" priced at 39,900 yuan, which is significantly lower than competitors [5] - UBTECH's Walker S2 is introduced as a full-sized industrial humanoid robot featuring proprietary AI technology, enabling both individual and collaborative operations [15] - The report suggests that the humanoid robot industry is poised for growth, with a focus on Tier 1 suppliers and core component manufacturers [4] Key Companies Recommended - The report recommends several companies for investment, including Sanhui Electric, Jingpin Special Equipment, Xinjie Electric, Beite Technology, Hanwei Technology, and others [2] - A core stock portfolio is presented, featuring companies like Sanhui Electric, Zhaowei Mechanical, and Softcom Power, among others [4] Industry Trends - The report identifies several key trends across various sectors, including: - Photovoltaic equipment with increasing N-type penetration and competitive advantages for leading companies [20] - Energy storage as a foundational element for new energy grids, with favorable policies enhancing industry prospects [20] - Semiconductor equipment demand projected to reach $140 billion by 2030, with a focus on domestic alternatives [20] - Automation and industrial consumables market expected to grow significantly, benefiting from increased concentration and import substitution [20] - Hydrogen energy aligned with carbon neutrality goals, with a focus on companies involved in green hydrogen production [21]