Huaxin Securities·2026-01-06 04:02Investment Rating - The report maintains a "Recommended" rating for the automotive industry, indicating a positive outlook for investment opportunities [4][7]. Core Insights - TPU (Thermoplastic Polyurethane) is highlighted as a promising safety material for humanoid robots due to its mechanical strength, elasticity, and environmental friendliness. It is expected to significantly enhance the safety and durability of robotic structures [3]. - The report emphasizes the potential of the commercial space sector, particularly with Blue Arrow Aerospace's IPO, which is positioned to meet the growing demand for satellite launches in China [5][6]. Summary by Sections Humanoid Robot Sector - The Huaxin Humanoid Robot Index increased by 7.56% from December 29, 2025, to January 2, 2026, with a cumulative return of 113.6% since 2025 [17]. - Within the humanoid robot sector, components such as assemblies, dexterous hands, and screws showed significant price increases, with assemblies rising by 10.1% [20][24]. - Key companies in the humanoid robot space, such as Zhongjian Technology and Zhongding Co., experienced substantial stock price increases, with gains of 42.8% and 36.4%, respectively [24]. Automotive Sector - The CITIC Automotive Index rose by 1.5%, outperforming the broader market by 2.1 percentage points during the same period [33]. - The automotive sector's PE ratio stands at 33.0, placing it in the 44.6% percentile over the past four years, while the PB ratio is at 3.0, in the 96.3% percentile [49]. - Notable companies in the automotive sector, such as Mould Technology and Tianpu Co., saw significant stock price increases of 25.3% and 21.0%, respectively [42]. Company Recommendations - The report suggests focusing on companies with extensive experience in composite materials, such as Mould Technology and New Spring Co., which are well-positioned to leverage TPU applications in automotive components [4][6]. - Specific recommendations include Mould Technology for its leadership in automotive bumpers and New Spring Co. for its expertise in interior components [4][6].