【汽车零部件&机器人主线周报】智元“牵手”敏实，宇树发布新款四足机器狗

Investment Highlights - The SW Auto Parts Index increased by 1.73% this week, ranking first among SW Auto sectors, with a year-to-date increase of 6.76% [3][12] - The latest PE (TTM) for SW Auto Parts is at the 88.37% historical percentile, while the PB (LF) is at the 81.92% historical percentile [3][33] Robotics Sector Review - The Wande Robotics Index rose by 0.08% this week, with a year-to-date increase of 2.63%, underperforming the SW Auto Parts sector by 1.65% [4][35] - The latest PE (TTM) for Wande Robotics is at the 81.07% percentile for the past year, and the PB (LF) is at the 81.89% percentile [4][44] Key Developments in Core Coverage - Sensible Group signed a strategic cooperation agreement with Zhiyuan Robotics to accelerate the localization and large-scale deployment of robotics technology in Europe [5][53] - Notable stock performers this week include: - Xingyuan Zhuomei +10.64% - Bertley +7.15% - Feilong Co. +7.11% - Changhua Group +5.19% - Yinlun Co. +4.73% [6][51] Major Events This Week - Zhiyuan entered the German market - Yushu launched a new quadruped robot - Honor will showcase its first humanoid robot in Barcelona on March 1 - Xiaopeng plans to build the industry's first full-chain production base for humanoid robots, with IRON expected to start mass production by the end of 2026 [7][45] Investment Recommendations - For auto parts, focus on structural opportunities by selecting product-oriented companies and those entering high-value sectors to increase ASP, with a priority on companies expanding capacity in Europe, North America, and Southeast Asia [8][54] - For robotics, look for certainty in opportunities, particularly with the anticipated release of Optimus V3 in Q1 2026, and monitor the application deployment by domestic companies like Xiaopeng, Yushu, and Zhiyuan [8][54] - Specific recommendations include: - EPS dimension: Fuyao Glass, Xingyu Co., Sensible Group, Junsheng Electronics, Xingyuan Zhuomei, with a focus on Xinquan Co. - PE dimension: Top Group, Junsheng Electronics, Shuanghuan Transmission, Sensible Group, Yinlun Co., Feilong Co., with a focus on Yap Co. and Daimi Co. [8][54]