世界机器人大会盛况空前，中国厂商加速抢滩工业与消费市场

Investment Rating - The industry investment rating is "Overweight" [3][24]. Core Viewpoints - The 2025 World Robot Conference (WRC) showcased over 1,500 exhibits from more than 200 companies, highlighting the rapid commercialization of humanoid robots, with over 27 new models launched in July and August [6][7][12]. - The humanoid robot industry is entering a critical phase of technological breakthroughs and commercialization, with a projected global demand of approximately 2 million units by 2030 [6][20]. - The report emphasizes the importance of core technology innovation and cost control for companies to succeed in a competitive environment similar to the smartphone industry [12][20]. Summary by Sections Humanoid Robots - The WRC featured 50 humanoid robot companies, showcasing innovations in both industrial and consumer applications [7]. - The BOM cost for high-end humanoid robots remains high, ranging from 200,000 to 500,000 yuan, but lower-priced models like the Unitree R1 start at 39,900 yuan, facilitating market entry [19]. - Government subsidies for purchasing robots are available, with businesses eligible for up to 250,000 yuan and individuals for 1,500 yuan [19]. Key Recommendations - Recommended companies include Sanhui Electric, Jingpin Special Equipment, Zhejiang Rongtai, Beite Technology, Hanwei Technology, and Ruantong Power [4][6]. - The report suggests tracking the supply chain of humanoid robots, including companies like Sanhua Intelligent Controls, Top Group, and others [20]. Other Industry Insights - In the photovoltaic sector, the penetration rate of N-type technology is accelerating, strengthening the competitive edge of leading companies [21]. - The energy storage market is expected to grow due to favorable policies and increasing demand from both generation and user sides [21]. - The semiconductor equipment market is projected to reach $140 billion by 2030, with a focus on domestic alternatives [22]. - The automation market, particularly industrial consumables, is expected to grow from 40 billion yuan to 55.7 billion yuan by 2026 [22].