Investment Rating - The report maintains a "Recommended" rating for the humanoid robot industry [1] Core Views - The humanoid robot industry is expected to experience significant investment opportunities as it transitions from 0 to 1, driven by the electric and intelligent transformation wave [16] - Recent developments include Galaxy General completing a new round of financing of 1.1 billion RMB, and Zhejiang Rongtai planning to acquire a stake in Jinli Transmission [16] Industry Dynamics - Nvidia is collaborating with Foxconn to deploy humanoid robots for manufacturing the GB300 AI server, marking a significant technological advancement in production [5] - The world's largest embodied intelligence data factory has opened in Tianjin, addressing key challenges in data scarcity and model training in the humanoid intelligence sector [6] - Huawei is exploring the application of humanoid robots in manufacturing scenarios, indicating a growing trend towards automation in various industries [6] - A strategic partnership has been established between Meihu Co. and NUWA Robotics Corp. to develop key components for humanoid robots [7] - The Nanjing government has approved an action plan for the development of the humanoid robot industry from 2025 to 2027, aiming to enhance the scale and innovation of the sector [10] - The Shandong provincial government has issued a high-quality development action plan for the robot industry, targeting a manufacturing scale exceeding 50 billion RMB by 2027 [11] Financial Performance - Sanhua Intelligent Control expects to achieve revenue between 15.04 billion to 17.78 billion RMB in the first half of 2025, driven by growth in its air conditioning and automotive parts businesses [12] - Yushun Technology has reported annual revenue exceeding 1 billion RMB, showcasing the growth potential in the humanoid robot sector [11] Key Companies to Watch - Companies with core component expertise and active involvement in humanoid robotics include Sanhua Intelligent Control, Top Group, Zhongjian Technology, and others [16]