Tianfeng Securities·2025-11-16 14:42Investment Rating - Industry Rating: Outperform the market (maintained rating) [5] Core Insights - The report indicates that domestic industrial humanoid robots are transitioning from experimental validation to commercial application, with significant potential for large-scale deployment in smart manufacturing [2] - The launch of new humanoid robots by various domestic manufacturers signifies a growing trend towards practical applications in the industry [2] Company Summaries - Obi Zhongguang: A leading company in 3D visual perception, deeply integrated with Microsoft and Nvidia. It has become one of the few companies globally to comprehensively cover six major 3D visual perception technologies, holding over 70% market share in domestic service robot visual sensors [3] - Keli Sensor: A leading domestic strain gauge sensor company, specializing in the research, production, and sales of strain gauge sensors and instruments. The company has developed a series of products for humanoid robot wrist, ankle, industrial arms, and collaborative arms, mastering key technologies such as structural decoupling and high-speed sampling communication [3]