格隆汇8月21日丨步科股份(688160.SH)在互动平台表示，公司第四代无框力矩电机已经在部分机器人客 户端实现批量应用，其他机器人客户的推广、验证工作也在积极拓展。公司于今年上半年完成常州"智 能制造生产基地建设项目"1号厂房的搬迁工作，前期产线搭建工作已基本完成，首先释放伺服电机、伺 服模组等产能，实现正常生产的产线数量已经超过搬产前产线数量。下半年公司将根据市场情况分批 次、有节奏地继续追加铺设新产线及投放设备。"智能制造生产基地建设项目"2号厂房处于方案设计阶 段，将根据项目规划逐步推进建设。 ...

Investment Rating - Industry Rating: Recommended [5] Core Viewpoints - The humanoid robot industry is expected to accelerate towards mass production due to breakthroughs in AI technology and domestic companies' strong demand for core component localization, presenting significant market opportunities [1][14] - The new energy vehicle sector is experiencing stable growth, with several companies reporting increased delivery volumes, driven by the maturation of solid-state battery technology and supportive policies [2][18] - The photovoltaic industry is seeing improved supply-side expectations, with measures to address overcapacity being anticipated, which could lead to a positive marginal change in the industry [3][26] Summary by Sections Humanoid Robots - The launch of the fourth-generation frameless torque motor and hollow driver by the company is expected to enhance the performance and reliability of humanoid robots, with strong domestic demand for localization of core components [1][13] - The entry of major tech companies into the humanoid robot market is expected to accelerate industrialization, with significant opportunities for component suppliers [14][15] New Energy Vehicles - In June 2025, several new energy vehicle manufacturers reported stable month-on-month delivery volumes, with companies like NIO and Xpeng showing growth, while others like Li Auto experienced declines [2][17] - The introduction of new technologies such as solid-state batteries is expected to enhance vehicle performance and reduce costs, contributing to the overall growth of the new energy vehicle market [18][19] Photovoltaic Industry - The photovoltaic sector is addressing overcapacity issues, with government and industry discussions focusing on improving product quality and reducing low-price competition [25][26] - Companies involved in silicon material production and high-efficiency battery technologies are expected to benefit from upcoming supply-side adjustments and cost reductions [3][26][32] - The anticipated reduction in glass production by 30% is expected to alleviate inventory and pricing pressures in the photovoltaic glass market [3][26] Wind Power - The offshore wind power sector is recognized as a key component of marine economic development, with significant growth potential due to advancements in technology and cost reductions [4][28] - The industry is expected to benefit from a stable demand for wind power generation, with ongoing projects and technological improvements enhancing the overall efficiency of wind energy production [28][44]