2025年人形机器人量产元年进入最后一个月，但其演绎方式却略显"纠结"。 12月7日，备受A股特斯拉产业链投资者关注的特斯拉人形机器人团队中国"审厂"（审厂，又称验厂或 审核，是指下游客户或第三方机构对上游供应商工厂进行的全面检查和评估）消息频传。 业内人士称，"审厂"或为配合明年一季度特斯拉Optimus Gen3机器人的发布进行量产准备。 这意味着，特斯拉机器人产业链在不断地"送样""测试"近两年后，或将迎来落地时刻。 恰恰是这个动作，被认为是特斯拉机器人在远处被操作员用VR技术遥控操作，而非"端到端"互动的证 据。 12月8日，特斯拉股价下跌3.39%，市值抹去约500亿美元，以上这则插曲也被戏称为"史上最贵的摔 跤"。 量产的曙光 "特斯拉许多演示视频都是通过遥操来实现了，这在业界并不是秘密，几乎人尽皆知。"一位深圳机器人 行业高管告诉记者，相对于需要耗费大量算力和研发强劲多模态人工智能模型的"端到端"具身智能，完 全模仿人类动作的VR/AR遥操，其实只需要一个轻量化的团队即可以完成。 但是，这并不意味着目前没有强劲"大脑"的人形机器人，就没有量产前景或好的应用场景。 21世纪经济报道记者了解到，目前 ...

特斯拉股价开盘猛拉，截至发稿涨超1%，消息面上，据21世纪经济报道，备受A股特斯拉产业链投资 者关注的特斯拉人形机器人团队中国"审厂"消息频传。业内人士称，"审厂"或为配合明年一季度特斯拉 Optimus Gen3机器人的发布进行量产准备。这意味着，特斯拉机器人产业链在不断地"送样"，"测试"近 两年后，或将迎来落地时刻。 | W | 特斯拉(TESLA) | | | | | --- | --- | --- | --- | --- | | | TSLA.O | | | | | 444.206 | 量 1204.2万 | 股本 33.26亿 市盈 | 291 | 万得 | | 1.05% 4.626 | 换 0.36% | 市值 14773亿 市净" | 18.47 | 盘口 | | 四十十五年 | EK | 周K | 目K 更多 | (0) | | 營加 | | 均价:440.824 | | | | 444 554 . | | | ------- 1.13% 卖- 444.210 | 75 | | | | | 买一 444.120 | 45 | | | | | 10:02 444.200 | 120 | | ...

Group 1: Robotics Industry Trends - The T-chain is expected to become a strong mainline due to the triple resonance of Tesla's robots, vehicles, and Full Self-Driving (FSD) technology, alongside the recovery of the automotive sector [1] - The release of Tesla's Optimus Gen3 robot is anticipated in Q4 2025, marking a significant turning point for the domestic robotics industry [1] - The sales performance of Model YL is exceeding expectations, with October sales projected to surpass 40,000 units, benefiting Tesla's domestic supply chain [1] Group 2: Key Components and Technologies - The dexterous hand is a critical component for humanoid robots, accounting for approximately half of the development effort for Tesla's Optimus robot, and its optimization is crucial for scaling production [2] - The humanoid robot industry is expected to enter a phase of significant volume production in 2025, addressing data scarcity issues and advancing the practicality of humanoid robots [3] - Key opportunities include the realization of complex dexterous hand functions, cost reduction in screw production, and advancements in the reducer supply chain [3] Group 3: Material Opportunities - PEEK (Polyether Ether Ketone) is gaining traction due to its excellent mechanical properties and applications in critical components across various industries, including robotics [4] - The rapid development of the robotics industry is likely to create substantial opportunities for PEEK, particularly in humanoid robots, by reducing weight and energy consumption [4] Group 4: Market Dynamics - The robotics sector has lagged behind chips and AI in recent months, but it may serve as a "value pit" to absorb funds from the hot AI and chip sectors [5] - The initiation of the Federal Reserve's interest rate cuts is expected to favor Chinese assets, potentially leading to a favorable environment for domestic growth styles in the stock market [6]