JD(US:JD) Haitong Securities International·2025-08-13 04:04Investment Rating - The report does not explicitly provide an investment rating for the robotics industry but indicates a significant growth potential, suggesting a favorable outlook for investments in this sector [5][21]. Core Insights - The global robotics industry is transitioning from single manufacturing scenarios to multi-sector applications, with a focus on ecosystem building and application deployment in the short term, while embodied intelligence and spatial computing are expected to become foundational technologies in the long term [19][21]. - Japan is advancing embodied intelligence with a focus on "human-machine symbiosis," aiming for full-spectrum intelligence in robots, particularly in healthcare, disaster rescue, and scientific collaboration [15][17]. - The UAE is leveraging its "2030 AI Strategy" and "Dubai 200,000 Robots Plan" to drive the robotics industry, targeting a 9% contribution to GDP by 2032, with strategic focuses on smart factories, medical robots, and space exploration [16][21]. - JD.com is investing over RMB 10 billion in the intelligent robotics sector, aiming to deploy robots across over one million end-user scenarios and support 100 brands to achieve over RMB 1 billion in sales [17][21]. - Spatial computing is identified as a core enabler for robotics, enhancing human-machine interaction and facilitating the transition from AI to AI+Robotics under China's national strategy [18][21]. Summary by Sections Embodied Intelligence - Japan's approach to embodied intelligence focuses on creating distributed intelligent systems capable of environmental awareness and autonomous decision-making, with applications in healthcare and scientific research [15][17]. National Strategies - The UAE's robotics strategy aims for a 9% GDP contribution by 2032, with a focus on integrating government, enterprise, and academic resources to overcome challenges like engineer shortages [16][21]. Corporate Initiatives - JD.com is establishing a comprehensive robotics ecosystem, with significant investments aimed at integrating robots into various industries and households [17][21]. Technological Integration - The integration of spatial computing with AI is seen as crucial for advancing robotics, enabling robots to interact with the physical world in a more sophisticated manner [18][21].