Guoxin Securities·2026-01-29 01:45Investment Rating - The report maintains an "Outperform" rating for the industry, indicating expected performance above the market benchmark by more than 10% [5][11]. Core Insights - The report highlights significant advancements in commercial aerospace, humanoid robots, and AI infrastructure, with a focus on the potential for cost reductions and market growth in these sectors [2][3][4]. - SpaceX aims to achieve full reusability of its Starship rockets this year, which could reduce the cost of space access by 99%, dropping to below $100 per pound [2][18]. - Tesla plans to launch its humanoid robot, Optimus, to the public by the end of 2027, with expectations for enhanced capabilities in industrial tasks and household chores [3][18]. Summary by Sections Commercial Aerospace - The report emphasizes the long-term investment opportunities in commercial aerospace, particularly in the rocket segment, with a focus on SpaceX and leading domestic companies like Blue Arrow Aerospace and CASIC [2]. - Key areas of interest include critical structural components and new applications of 3D printing, with specific companies highlighted such as Huashu High-Tech and Jiangshun Technology [2]. Humanoid Robots - The humanoid robot sector is viewed positively, with expectations for significant demand growth as capabilities improve. Companies in the supply chain, particularly those with strong positions, are recommended for investment [3][9]. - Specific companies to watch include Hengli Hydraulic and Weichuan Technology, focusing on core suppliers and components like joints and sensors [3][9]. AI Infrastructure - The report expresses optimism for AI infrastructure, particularly in gas turbines and liquid cooling systems, identifying key players in the energy supply chain [4]. - Companies such as Yingliu Technology and Hanjong Precision are noted for their roles in the gas turbine sector, while others like Ice Wheel Environment are highlighted for their contributions to liquid cooling [4][9].