Investment Rating - The industry investment rating is "Recommended" [4][20]. Core Insights - The humanoid robot industry is entering a "technology breakthrough → mass production cost reduction → scene penetration" golden cycle, expected to become a core investment theme in 2025 [20]. - The introduction of the Genie Operator-1 (GO-1) model by Zhiyuan Robotics significantly lowers the technical threshold for embodied intelligence, utilizing human videos for learning and rapid generalization with small samples [20][16]. - Recent government policies are accelerating the mass production of humanoid robots, with a focus on replacing dangerous, repetitive, and heavy-duty jobs [14][16]. Industry Policy Updates - On February 28, 2025, Beijing issued a policy to accelerate the replacement of dangerous and repetitive jobs with embodied intelligent robots [14]. - The Shenzhen Municipal Science and Technology Innovation Bureau released an action plan for the development of embodied intelligent robots from 2025 to 2027, aiming for breakthroughs in key components and technologies [14]. - The "5G Scale Application 'Sailing' Action Upgrade Plan" was issued on March 5, 2025, promoting the integration of humanoid robots with 5G technology [14]. Company Developments - Xiaomi, Xiaopeng, and NIO have announced their entry into the humanoid robot sector, with Xiaomi progressing on its CyberOne robot for home care and companionship [16]. - Zhiyuan Robotics launched the GO-1 model, which is expected to bring unprecedented possibilities for the development of embodied intelligence technology [16][5]. - The industry is witnessing significant investments and developments in humanoid robots, with various companies exploring innovative applications in extreme operations, medical rehabilitation, and smart logistics [20]. Stock Recommendations - Key stocks to watch include: - Tesla Chain: Sanhua Intelligent Control (002050.SZ), Top Group (601689.SH), Fengcai Technology (688279.SH) [21]. - Huawei Chain: Zhaowei Electromechanical (003021.SZ), Zhongjian Technology (002779.SZ) [21]. - Xiaomi Chain: Zhenyu Technology (300953.SZ), Hengli Hydraulic (601100.SH) [23].