Tesla Inc. (TSLA) reported a decline in global deliveries once again for the second quarter of 2025, marking its second consecutive quarterly drop. This has deepened concerns about sliding demand and rising competition in the global EV race. However, Tesla shares have risen 5% following the weak delivery report, underscoring its solid growth prospects (read: How to Find Attractively Priced Growth Stocks).   This has put ETFs with a substantial allocation to this luxury carmaker in focus. These include Simpl ...

点击注册小程序 公司研究 全球协作机器人龙头厂商，加速实现具身智能商业化——越疆（2432.HK）投资价值分析报告 综合来看，我们看好越疆：1 ) 全球协作机器人龙头地位，商业化能力有望持续验证；2 ) 技术壁 垒全球领先，全栈自研构筑护城河，有望为公司后续发展及降本奠定基础；3 ) 全球化布局成效 显 著 ， 受 益 制 造 业 转 移 红 利 ；4 ) 积 极 切 入 具 身 智 能 & 人 形 机 器 人 行 业 ， 打 开 公 司 长 期 成 长 空 间。 摘自： 全球协作机器人龙头厂商，加速实现具身智能商业化——越疆（2 4 3 2 .HK）投资价值分析 报告 （点击阅读原文） 发布日期： 2 0 2 5 / 0 7 / 0 4 分析师： 付天姿 , 黄铮 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光 ...

报告来源 以上内容节选自国泰海通证券已发布的证券研究报告。 报告名称： 供需构筑底线，政策强化弹性——稀土行业2025年中期策略报告 报告日期：2025.07.03 报告作者： 于嘉懿 （ 分析师） ，登记编号： S 0880522080001 兰洋 （研究助理） ，登记编号：S 0880123070158 价格复盘： 2020 年以来新能源汽车需求为稀土下游核心拉动力，该终端的增速基本对应着稀土价格的高 低点。 2021 年 3-5 月稀土价格快速下跌，主要由于 21 年第一批配额增速超预期，但进入 H2 ，市场 发现供给增速可以被需求消化，且第二批配额给定后供给被限定，价格重回上涨。 2022-2024 年稀土价 格持续下跌：表面看是国内配额供给大幅增长的原因，本质上在于新能源渗透诉求 & 全球市占率管理。 供给方面，国内整合持续推进，供给刚性时代开启。 国内稀土资源整合持续推进，目前已经形成两大集 团，供给格局明显优化。海外整体稀土资源禀赋不差，但产业链不完备，在产的大型稀土矿山仅 MP 和 Lynas ，其余矿山进展持续推后。从目前国内最重要的稀土矿进口来源地缅甸来看， 2025 年 4-5 月缅 甸 ...

Robotics & Automation - Tesla's Optimus robot aims to automate boring, repetitive, or unsafe tasks at work and home [1] - The goal is to free up human time for more impactful work [1]

Core Insights - The humanoid robotics market is transitioning from a futuristic concept to a viable investment opportunity, with estimates suggesting it could reach a $5 trillion market by 2050 [1][2][3] Market Dynamics - The market is experiencing a turning point due to three converging trends: record labor shortages, significant reductions in AI costs (down approximately 85% since 2023), and competitive pricing for Robots-as-a-Service (RaaS) at around $30 per hour [2][3][4] - Over 450,000 warehouse roles in the U.S. remain unfilled, highlighting the labor shortage [3] Investment Vehicles - Roundhill's HUMN ETF is one of the first actively managed ETFs focused on humanoid robotics, allowing for more agile trading compared to index-based ETFs like KraneShares' KOID [4][5] - HUMN's portfolio is reviewed monthly to capitalize on emerging opportunities, contrasting with KOID's static approach [5][6] Tesla's Role - Tesla's humanoid robot, Optimus, is already operational within its factories, and the company is a significant holding in the HUMN ETF, capped at approximately 13% to mitigate risk from volatility [7][8] - Tesla's unique advantages include an in-house AI stack and large-scale manufacturing capabilities, positioning it favorably in the humanoid robotics space [8][9] Future Projections - Adoption of humanoid robotics is expected to follow a linear growth pattern through the late 2020s, with a significant inflection point in the mid-2030s as fleets scale [10] - Investors are encouraged to view HUMN as a long-term holding with potential for strong returns in shorter time frames [10] Global Exposure - HUMN ETF provides exposure to sophisticated humanoid robotics through ownership stakes in companies like Hyundai (owner of Boston Dynamics' Atlas) and Xiaomi, which are part of its portfolio [11][12] - The ETF adopts a value-chain approach, incorporating U.S. silicon producers, Chinese humanoid builders, and Japanese precision gear manufacturers to ensure comprehensive market exposure [12] Conclusion - As the humanoid robotics sector evolves, Roundhill's HUMN ETF offers a potential first-mover advantage for investors looking to capitalize on the growing demand for robotic solutions in various industries [13][14]

The US can’t allow China to take over the humanoid robot industry as it did with drones, @tomwblack says (via @opinion) https://t.co/N9AwPEKH6X ...

机器人行业目前的发展现状如何？未来有哪些看点？ 机器人行业目前正处于从实验室迭代过渡到垂直场景商业化阶段。自 2024 年 下半年以来，机器人进入了快速的成本和技术迭代周期。一方面，供应链定点 和量产扩展使得成本加速迭代，核心部件如丝杠、电机、减速器等出现明显降 本，尤其是丝杠。另一方面，国内机器人的迭代周期仅约两个月，目前特斯拉 等公司已经迭代到 Optimus GEM Three，使得产品越来越接近大规模量产的 成熟状态。 下半年整个行业开始进入垂直场景商业化阶段，例如巡检、康养、 交互、物流、工厂等多个垂直场景都开始部署人形机器人。从产品和技术角度 来看，人形机器人的商业化主要卡在大小脑以及上肢协作领域。上肢协作能力 是工作效率的根本，因此未来人形机器人迭代最快的应该是上肢能力，这也是 目前最关键的领域。上肢协作需要采集大规模、高质量的数据，如 Figure Helix 智源 JOY 以及工业通用的 Grasp VLA 等均针对上肢协作的大模型。 下半年重点关注灵巧手、丝杠、Pick and Place、减速器、关键总成、 电子皮肤、六维力传感器七大赛道，关注特斯拉、华为等公司的供应链 机会。 Q&A ...

This stock is up 900% since 2023, and there is still more upside ahead.The start of the artificial intelligence (AI) boom lifted the broader stock market out of a slump in late 2022. It's been a mostly fun ride since then, and the reality is that AI is only getting started. Experts widely believe that AI technology will create trillions of dollars in economic value over the coming decades and make new industries possible, and that likely means wealth for those who own the right stocks.Thus far, Nvidia (NVDA ...

Elon Musk"Tesla is the only company with all the ingredients for making intelligent humanoid robots at scale. My prediction is that Optimus will be the biggest product of all time by far. It will be 10 times bigger than the next biggest product ever made.""Tesla is the only company with all the ingredients for making intelligent humanoid robots at scale. My prediction is that Optimus will be the biggest product of all time by far. It will be 10 times bigger than the next biggest product ever made." ...

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