人形机器人产业周报：马斯克签订对赌协议，傅利叶GR-3人形机器人开启预售-20250915

Investment Rating - The report maintains a "Recommended" investment rating for the humanoid robot industry, indicating that the industry index is expected to outperform the benchmark index by more than 10% [7]. Core Insights - The humanoid robot concept index increased by 3.53% from September 7 to September 12, 2025, outperforming the CSI 300 index by 2.15 percentage points. Year-to-date, the humanoid robot index has risen by 73.24%, surpassing the CSI 300 index by 54.87 percentage points [2][11]. - Key developments include the pre-sale of Fourier's humanoid robot GR-3, which will officially launch in October 2025, and significant investments in the sector, such as a nearly 1 billion yuan A+ round financing for Zivariable Robotics [3][19][23]. Summary by Sections Weekly Market Review - The humanoid robot index outperformed the CSI 300 index, with notable individual stock performances, including a weekly increase of 801.81% for Sanxie Electric and a decrease of 15.92% for Lansheng Co [11][17]. Weekly Hotspots Policy Developments - The Ministry of Industry and Information Technology aims to strengthen industrial supply and accelerate technological breakthroughs in high-end computing chips and multimodal algorithms, with a target for the humanoid robot industry to achieve an industrial output value exceeding 20 billion yuan by 2027 [3][19]. - China has released 30 national standards for artificial intelligence, with 15 humanoid robot standards currently under development [21]. Product and Technology Iteration - Fourier's humanoid robot GR-3 has begun pre-sales, and UBTECH's humanoid robot is now available on JD.com [21][22]. - Elon Musk's ambitious plan for Tesla includes delivering 1 million humanoid robots by 2025, highlighting the company's commitment to this sector [22]. Investment and Financing - Zivariable Robotics completed nearly 1 billion yuan in A+ round financing, led by Alibaba Cloud, while Xingyuan Intelligent Robotics secured 200 million yuan in angel round financing [23]. Key Company Announcements - Chipmaker Xindong Lian Ke is developing a six-axis IMU chip targeting the robotics and intelligent driving markets [24]. - Yachuang Electronics expects to begin mass shipments of humanoid robot products in the second half of 2025 [24]. - Changhua Group is advancing its planetary roller screw technology for humanoid robots and has completed production line design for a planned annual output of 200,000 sets [24][25]. - Estun's second-generation humanoid robot Codroid02 is currently undergoing small-scale validation in industrial settings [26].