本报记者徐一鸣 应用方面，作为国内MEMS（微机电系统）惯性传感器头部企业，芯动联科产品广泛应用于石油勘探、 高速铁路等领域。在保持传统领域持续深耕的同时，芯动联科依托全链条自主技术及高毛利率优势，持 续受益于低空经济、智能驾驶及人形机器人等新兴场景。 例如，在低空经济领域，公司高性能MEMS IMU（微机电系统惯性测量单元）作为实时感知航空器运 动状态与姿态变化的核心传感部件，正随着行业的快速发展迎来需求成长期。 目前，芯动联科构建了双轨合作模式，一是与主机厂直连，提供IMU（惯性测量单元）组合或组合导航 形式的航姿仪产品；二是为传统航姿及飞控系统厂商供应芯片，赋能其开发基于MEMS（微机电系统） 惯性器件的IMU（惯性测量单元）与航姿系统。 芯动联科表示，尽管当前公司产品在低空行业未形成大批量出货，但市场加速态势明显，未来增长潜力 巨大。 中国投资协会上市公司投资专业委员会副会长支培元向《证券日报》记者表示，随着新兴市场的逐步成 熟，芯动联科有望凭借其技术优势和市场先发优势，进一步扩大市场份额，实现业绩的持续增长。然 而，半导体行业技术迭代迅速、市场竞争激烈，芯动联科仍需不断创新，紧跟行业发展趋势，以应对 ...

Investment Rating - The report does not provide a specific investment rating for XDLK (688582.SS) as it is categorized as "Not Covered" [1]. Core Insights - XDLK has experienced significant revenue growth of 292% year-over-year in Q1 2025, attributed to new MEMS gyroscope orders, with management expressing optimism about future visibility due to increasing client adoption [1][8]. - The company is expanding its MEMS accelerometer product from single chip single axis to dual/triple axis configurations to enhance product integrity and meet client demands [1][8]. - XDLK is targeting new markets such as autonomous driving, eVTOL, and robotics, in addition to its existing industrial and energy sectors [4]. Summary by Sections Company Profile - XDLK is a local supplier of MEMS IMU, offering products that include a MEMS chipset and an ASIC chipset for high-accuracy navigation, monitoring, and stabilization at relatively low costs [3]. Client Penetration and Product Upgrade - The company has secured new MEMS gyroscope orders valued at RMB 270 million, indicating a growing adoption of its products by clients [5]. - XDLK's Q1 2025 revenue reached RMB 87 million, with net income turning positive, driven by new orders and a positive outlook on order visibility [8]. Technology Advantages - XDLK's MEMS IMU products face high barriers to entry, with a client partnership development cycle of 6-12 months, emphasizing the importance of high accuracy, integrity, small size, adaptability, and low cost in client decision-making [9].

Investment Rating - The report maintains an "Outperform" rating for the electronic industry [1]. Core Insights - Humanoid robots have significant potential, with the sensory system being one of the core subsystems. The market is expected to grow rapidly as humanoid robots begin to be deployed in various applications [3][9]. - The sensory layer is crucial for interaction with the environment, accounting for approximately 15% of the total cost of humanoid robots [10][11]. - The report emphasizes the importance of multi-sensory integration, including 3D vision, force sensing, inertial sensing, and tactile sensing, in enhancing the capabilities of humanoid robots [12][39]. Summary by Sections 1. Humanoid Robot Potential - The humanoid robot market is in its early stages but is expected to transform human production and lifestyle significantly. The global sales volume is projected to grow from approximately 26,000 units in 2025 to 606,000 units by 2030, with a CAGR of about 87.6% [9]. 2. 3D Vision - 3D vision is the primary environmental information input for humanoid robots, responsible for real-time modeling of the surroundings. The Chinese machine vision market is expected to grow from 4.687 billion yuan in 2016 to 39.529 billion yuan by 2028, with a CAGR of approximately 19.4% [19]. 3. Force and Inertial Sensing - Force sensing, particularly six-dimensional force sensing, is essential for precise operations in humanoid robots. The global market for humanoid robot force sensors is expected to grow from 179 million yuan in 2024 to 32.806 billion yuan by 2030, with a CAGR of 138% [46]. 4. Tactile Sensing - Tactile sensing is crucial for humanoid robots to perform delicate operations. The global market for robotic tactile sensors is projected to grow from 210 million USD in 2022 to 430 million USD by 2029, with a CAGR of 10.8% [71]. 5. Investment Recommendations - The report recommends focusing on companies involved in 3D vision, six-dimensional force sensing, MEMS IMU, and electronic skin technologies, highlighting firms like Chipone Technology, Aobo Technology, and Hanwei Technology as key players [3][9].