人形机器人板块点评：春晚机器人本体相关合作公司梳理第1弹-20260212
ZHESHANG SECURITIES·2026-02-12 08:54

Investment Rating - The industry investment rating is "Positive" (maintained) [5] Core Insights - Yushu Technology has become a partner for the 2026 Spring Festival Gala, marking its third collaboration with the event [1] - The report highlights various companies collaborating with Yushu Technology, including Meihu Co., Changsheng Bearings, and Zhongdali De, which are supplying critical components for humanoid robots [2][3] - The report emphasizes the strategic partnerships and ongoing developments in the humanoid robot sector, showcasing a robust supply chain and innovation in technology [2][3][6] Summary by Sections Company Collaborations - Meihu Co. has successfully delivered mass-produced components as of November 17, 2025 [2] - Changsheng Bearings signed a cooperation agreement with Yushu Technology and has begun small-scale production of self-lubricating bearings [2] - Zhongdali De is providing core components like reducers, enhancing Yushu Technology's product offerings [2] - Wolong Electric Drive has been a strategic partner since 2024, supplying key components for Yushu's robots [2] - Other notable collaborations include Best, Aobo Zhongguang, and Mingzhi Electric, each contributing specialized components for humanoid robots [3][6] Technological Advancements - Yushu Technology is working with various suppliers to develop advanced technologies, such as high-precision screw assemblies and visual solutions [3][6] - The report mentions the establishment of a joint laboratory for lightweight materials, aiming for mass production by 2025 [7] - Companies like Allwinner Technology are providing intelligent processing chips that significantly reduce costs compared to competitors [6][7] Market Outlook - The report indicates a positive outlook for the humanoid robot industry, driven by ongoing collaborations and technological advancements [5][6] - The partnerships are expected to enhance Yushu Technology's market position and product capabilities, contributing to overall industry growth [2][3]