特斯拉Optimus定型在即，产业链公司新增量

Core Viewpoint - The article discusses the simultaneous "contraction" and "expansion" of the T-chain companies in the context of Tesla's Optimus production, indicating a clearer focus on core targets as they approach the final selection for production orders [1][10]. Summary by Sections T-chain Market Dynamics - The T-chain companies experienced significant fluctuations in stock prices, with a notable decline followed by a rebound, indicating a market that is more resilient than expected [1]. - The current phase is characterized by speculative trading, with limited official positive news, leading to a focus on core beneficial stocks that have shown substantial gains [2][12]. Expansion Logic - The "expansion" phase is associated with technological iterations, where Tesla is open to experimenting with new processes and concepts, suggesting ongoing modifications even after the Optimus V3 is finalized [3]. - The introduction of new technologies, particularly GaN (Gallium Nitride), is expected to trigger a wave of upward movement in related stocks, with GaN technology gaining traction in the industry since late November [4][6]. GaN Technology Impact - GaN devices are categorized into upstream GaN power device companies and midstream GaN driver companies, with significant developments reported in early December, including partnerships with Tesla for GaN solutions [6]. - The commercialization of GaN technology in robotics is advancing, with reports of substantial applications in robot actuators and dexterous hands, indicating a shift from technical validation to market implementation [6]. Future Projections - The timeline for the Optimus V3 production is projected to begin in early 2026, with key suppliers expected to be identified by March of that year, suggesting a critical period for T-chain companies [10][11]. - Analysts anticipate that January will mark the beginning of a formal market trend for core T-chain companies, emphasizing the importance of early investment in promising stocks [11]. Market Sentiment - The current sentiment in the secondary market for the robotics sector remains volatile, with expectations for a potential reversal in trends as the market awaits further developments [12].