Core Viewpoint - The article discusses the advancements in humanoid robots' learning capabilities, highlighting various methods such as real human coaching, virtual simulations, and online courses that enable robots to acquire skills akin to completing a "nine-year compulsory education" [3][11][13]. Group 1: Learning Methods - Humanoid robots learn skills through several methods, including real human coaching, automated ball machines, and online video learning [3]. - The training environment consists of over a hundred robots, each assigned to different tasks, covering more than 200 types of operations and 3,000 real objects [7]. - The data collected during training is reviewed to ensure quality, filtering out substandard data from the training process [9]. Group 2: Data Utilization - The physical interaction data accumulated during training is crucial for the evolution of embodied intelligence models, serving as a dataset for training general-purpose models [11]. - These models enable robots to quickly acquire foundational skills, preparing them for specialized training in specific scenarios [13]. Group 3: Technological Innovations - The launch of the "Ge Wu" platform, a one-click simulation training platform, represents a significant advancement in AI infrastructure, utilizing a universal reinforcement learning framework [17]. - The platform's unique feedforward training method allows for rapid simulation training, achieving speeds 100 to 1,000 times faster than traditional methods, even on standard desktop or laptop environments [19].

Investment Rating - The report maintains an "Add" rating for the automation equipment industry [1] Core Insights - The report discusses the ongoing debate regarding the hardware choices for humanoid robots, particularly focusing on the upper and lower limb actuator solutions [1] - It highlights the importance of the upper limb in humanoid robots, emphasizing that the choice of actuator significantly impacts practicality [2] - The report concludes that while harmonic reducers are currently the only solution for upper limbs, they face challenges such as high cost and low impact resistance [3] - For lower limbs, planetary gear systems are favored due to their cost-effectiveness and sufficient load-bearing capacity [4] - The report anticipates a coexistence of both planetary gear systems and screw systems in the future, depending on application scenarios [7] Summary by Sections Upper Limb Selection - Harmonic reducers are predominantly used for upper limbs due to their compact size and high load capacity, but they are expensive, with BOM costs ranging from 200,000 to 300,000 yuan [2] - Planetary gear systems are cheaper but have lower load capacities, making them less suitable for upper limb applications [3] - The report suggests that harmonic reducers are the only viable option in the short term, despite their drawbacks [3] Lower Limb Selection - Planetary screw systems are gaining traction but face production and cost challenges [4] - Planetary gear systems are preferred for lower limbs due to their high cost-performance ratio and adequate load-bearing capabilities [4] - The report clarifies common misconceptions about actuator choices and emphasizes the importance of application context [7] Market Outlook - The report expresses confidence in the harmonic reducer industry chain and recommends specific companies such as Green Harmonic and Siling Co. [7] - It also highlights the need for market re-evaluation of planetary gear system companies, suggesting potential undervaluation [7]