国泰海通｜机械：WAIC 2025在沪召开，人形机器人全产业链集中亮剑

Core Insights - The 2025 World Artificial Intelligence Conference (WAIC) held in Shanghai focused on humanoid robots, showcasing the complete industrial chain from core technologies to embodied intelligent products, indicating significant investment opportunities in this sector [1][4]. Group 1: Humanoid Robot Innovations - Numerous companies such as Magic Atom, Zhiyuan, Yuzhu, and Leju showcased their latest humanoid robots and technologies, including Zhiyuan's Expedition A2 and MagicBotZ1, which features high-performance joint modules and advanced movement capabilities [2][3]. - The exhibition highlighted the continuous iteration of humanoid robot technologies, with companies actively promoting industrialization [2]. Group 2: Core Component Technologies - The maturity of core component technologies, including reducers, screws, motors, sensors, and joint modules, is crucial for the mass production of robots. Companies like Hechuan Technology and Dase Intelligent presented their innovative solutions [3]. - The domestic supply chain is becoming increasingly complete, supported by advancements in manufacturing processes and cost reductions, facilitating the mass production of humanoid robots [3]. Group 3: AGI and Humanoid Robots - Humanoid robots are seen as ideal carriers for Artificial General Intelligence (AGI), combining hardware and scene interaction. Companies like Tesla leverage shared AI resources for their humanoid robots, creating a synergistic ecosystem [4]. - The exhibition featured significant advancements in computing power and large model progress from companies like Tencent, JD.com, SenseTime, and Huawei, highlighting the advantages of a comprehensive domestic hardware and software ecosystem [4].