Huafu Securities·2025-11-09 07:46Investment Rating - The industry rating is "Outperform the Market" indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [13]. Core Insights - The strategic partnership between Jingye Intelligent and domestic full-function GPU company Moore Threads aims to advance the "AI + Embodied Intelligence" strategy, with plans to launch multiple robots equipped with domestic computing solutions based on application scenarios [3][5]. - The IRON humanoid robot showcased by Xiaopeng at the Technology Day demonstrated impressive walking capabilities, while Tesla's Optimus robot also showed significant improvements in flexibility, indicating advancements in humanoid robotics [4]. - The humanoid robot market in China is projected to reach nearly 38 billion yuan by 2030, with a compound annual growth rate (CAGR) exceeding 61% from 2024 to 2030, as sales are expected to grow from approximately 4,000 units to 271,200 units [5]. Summary by Sections - Strategic Partnerships: Jingye Intelligent collaborates with Moore Threads to enhance AI capabilities in robotics, focusing on embodied intelligence and AI server development [3]. - Technological Advancements: The IRON humanoid robot and Tesla's Optimus robot showcase significant improvements in mobility and functionality, reflecting the rapid evolution in humanoid robotics [4]. - Market Projections: The Chinese humanoid robot market is anticipated to grow substantially, with significant increases in both market size and unit sales over the next decade [5].