Shenwan Hongyuan Securities·2025-08-12 12:42Investment Rating - The report rates the industry as "Overweight," indicating that it is expected to outperform the overall market [8]. Core Insights - The demand for health and wellness service robots is driven by aging population trends, technological advancements, and supportive policies [3]. - By 2024, the population aged 60 and above in China is projected to exceed 300 million, accounting for 22% of the total population, creating a significant service gap in rehabilitation and care [3]. - The Ministry of Industry and Information Technology has issued policies to promote the application of intelligent elderly care robots, facilitating industry implementation [3]. - Rapid advancements in both hardware and software technologies are making the deployment of health and wellness robots feasible [3]. Summary by Sections Demand Side - The aging population is creating a pressing need for health and wellness robots, which are seen as key solutions to labor shortages in care settings [3]. Policy Support - The government is actively promoting the integration of robots in elderly care through various policies, enhancing the industry's growth prospects [3]. Technological Development - Significant progress in relevant technologies, including sensors, batteries, and algorithms, is enabling the practical application of health and wellness robots across various scenarios [3]. Market Opportunities - The health and wellness robot market is vast, with rigid demand. Key companies to watch include: - Ousheng Electric, focusing on intelligent care services for bedridden patients [3]. - Zhongjian Technology, which is developing humanoid robots for elderly care [3]. - Madi Technology and Ubtech, collaborating on AI services in healthcare [3]. - Songlin Technology, planning to expand into health robots and AI companionship [3]. - Rongtai Health, launching smart health and therapy robots for home use [3]. - Sanhui Electric, investing in intelligent therapy robots [3]. - Beiqing Song, establishing a subsidiary for massage robots [3]. - Yijiahe, accelerating its presence in high-end health and smart home markets [3]. - Meihu Co., providing core components for elderly care robots [3].