Optimus加速量产，“新T链”们，来了！

Core Insights - The article discusses the upcoming release of Tesla's Optimus V3 and its implications for the T-chain, highlighting a shift in focus towards new core suppliers and the narrowing of investment opportunities in the sector [2][3]. T-chain Developments - The T-chain has seen a transition from an "expansion" phase to a "contraction" phase since November, with a clearer focus on core suppliers as new developments emerge [3]. - Key suppliers in the T-chain have made significant progress, particularly those that communicated with North American partners in January, indicating a more concentrated investment landscape [3][5]. North American Communication - Several core suppliers have entered the RFO (Request for Offer) stage, including structural components and specific components like harmonic reducers and hand screw suppliers, which are critical for Tesla's production [3][5]. Market Performance - The market performance in January was primarily driven by North American communication, with notable gains for certain suppliers, such as structural components and lightweight materials, continuing into February [5]. - Specific suppliers, like the structural component supplier (K), have seen significant interest, with orders reaching thousands of units and average selling prices (ASP) exceeding a thousand USD [5]. February Audit Highlights - February initiated a new round of audits, with key suppliers like force sensors and structural component suppliers receiving heightened attention from investors due to their recent advancements [5][6]. - The structural component supplier (C) has gained exclusive supply opportunities and increased ASPs following the audit, indicating strong market positioning [5][6]. Emerging Suppliers - New suppliers in the T-chain, such as those involved in thermal management and electric motors, are gaining traction, with some achieving record highs in February [5][6]. - The electric motor supplier (H) has officially entered Tesla's direct supply list, surpassing expectations in terms of product offerings and ASPs [5][6].