Investment Rating - The report maintains an "Outperform" rating for the industry [4][7]. Core Views - The integration of artificial intelligence and logistics is being actively promoted in China, with significant developments in humanoid robots and the upcoming launch of Tesla's Robotaxi pilot program [1][2][14]. - The report highlights the rapid advancements in AI infrastructure and the potential for increased efficiency in logistics and other sectors through AI applications [2][24]. Summary by Sections Industry Dynamics - The humanoid robot F.03 from Figure has officially started walking as of May 27, 2025 [15]. - The establishment of the Embodied Intelligence Data Alliance in Shanghai on May 29, 2025, aims to enhance data services in various sectors [16]. - Tesla plans to launch a Robotaxi pilot service in Austin, Texas, in June 2025, initially deploying 10 Model Y vehicles [14][29]. Government News - The National Postal Bureau is accelerating the application of AI in the postal industry, aiming to create benchmark products [24]. - The Zhejiang Province has released implementation opinions to promote intelligent computing cloud innovation from 2025 to 2027 [28]. Company Dynamics - Double Lin Co. plans to raise no more than 1.5 billion yuan through a private placement for various projects [28]. - Zhiyuan Robotics has secured a new round of investment led by a state-owned capital investment platform [21]. Key Companies and Investment Outlook - The report identifies key companies in the humanoid robot sector, including suppliers of joints, sensors, and other components, emphasizing the importance of strong market positions [3][6]. - Companies such as Green Harmonic, Huichuan Technology, and others are highlighted for their potential growth in the AI infrastructure sector [7][31]. Market Performance - The report provides a detailed performance review of key companies, noting fluctuations in stock prices and market trends over recent weeks [13][31].