Industry Trend - China's domestic robot manufacturing is driving a low-cost automation wave, helping domestic factories produce more products at a lower cost [1] - China's factories install approximately 280 thousand industrial robots annually, accounting for half of the global total [1] - China's robot density per 10 thousand workers is leading Germany and approaching South Korea [1] Export Dynamics - China's global share of labor-intensive export products increased from 2019 to 2023, despite significant wage increases [1] - China's global export share of small manufactured goods such as brooms, mops, and pens increased by 9 percentage points to 523% [1] - China's furniture export market share increased by approximately 15 percentage points, and toys increased from 543% to 569% [1] Cost Advantage - Domestic robots are priced at about 60% of the price of robots from Yaskawa Electric, Fanuc, ABB, and Kuka [1] - China is replacing human labor with robots to maintain its labor advantage [1]