Core Viewpoint - The trend of lightweight humanoid robots is becoming a core aspect of their commercialization process, driven by product iterations from leading domestic and international companies [1][4]. Market Review - From August 11 to August 15, the CSI 300 index rose by 2.4%, while the machinery sector increased by 3.1%, ranking 11th among all primary industries. The laser processing equipment sector saw the highest increase at 9.0%, whereas the engineering machinery sector experienced the largest decline at 0.4% [2]. Industry Insights - The lightweight humanoid robots offer advantages such as improved endurance, flexibility, reduced costs, and decreased safety risks associated with heavy machinery. For instance, Tesla's Optimus Gen2 reduced its weight from 73 kg to 63 kg, achieving a 10 kg reduction while enhancing walking speed by 30% and improving balance and overall control. Additionally, Unitree Technology's Unitree G1 weighs only 35 kg, utilizing a combination of aluminum alloy and engineering plastics to balance strength and lightweight design [4]. - The lightweight design of humanoid robots can be achieved through structural and material lightweighting. Structural lightweighting involves parameter optimization, topology optimization, morphological optimization, and integrated design. Material lightweighting focuses on replacing traditional metals with low-density, high-performance materials, such as magnesium alloys, PEEK, and carbon fiber, which meet mechanical strength, heat resistance, and corrosion resistance requirements while reducing weight [4]. - The industry recognizes that lightweighting significantly enhances the endurance, performance, and safety of humanoid robots, marking it as an important trend for future development. Investment opportunities in the related supply chain are recommended [4].

Group 1: Industry Overview - The global humanoid robot industry is projected to reach a market size of $3.4 billion in 2024, representing a year-on-year increase of 57.41%, and is expected to grow to $5.3 billion in 2025, with a potential to exceed $20.6 billion by 2028, indicating a high compound annual growth rate [3]. - The humanoid robot sector is positioned at the beginning of a growth trajectory, with significant potential for expansion in both global and Chinese markets, driven by advancements in artificial intelligence and precision manufacturing [3]. Group 2: Tesla's Optimus Robot - Tesla's Optimus Gen2 humanoid robot has undergone significant upgrades, including a weight reduction of approximately 10 kg, a 30% increase in walking speed, and a doubling of hand dexterity to 22 degrees of freedom, with an overall freedom of movement reaching 28 degrees [2]. - The Optimus Gen2 robot stands 1.73 meters tall, weighs 57 kg, and can perform tasks such as squatting and delicate actions like egg squeezing, with a load capacity of 20 kg and a walking speed of 8 km/h [2]. - Tesla is already working on the third generation of Optimus, which aims to enhance coordination and the ability to perform complex tasks, such as folding clothes and caring for children [2][3]. Group 3: Key Companies in the Supply Chain - Sanhua Intelligent Control (三花智控) is a core supplier of rotating joint assemblies for Tesla's humanoid robots and has entered small-scale trial production for liquid cooling modules [4]. - Top Group (拓普集团) serves as a first-tier supplier for Tesla's robots, responsible for linear joint assembly supply, with a factory in Mexico expected to start production in Q3 2025 [4]. - Harmonic Drive (绿的谐波) is a leading domestic company in harmonic reducers, providing products that meet international standards and are compatible with Tesla's Optimus [4]. - Inovance Technology (汇川技术) is a domestic leader in humanoid robot components, specializing in servo systems and rotary actuator modules suitable for Tesla's Optimus [4]. - Mingzhi Electric (鸣志电器) is a leading provider of dexterous hand components for humanoid robots, with high-precision stepper motors that rank among the top three globally and have entered Tesla's supply chain [4]. - Wuzhou Xinchun (五洲新春) collaborates with Hangzhou Xinjian to support Tesla's supply chain with planetary roller screw products [4].

PEEK：综合性能全面优异的特种工程塑料，在谐波减速器已有应用。PEEK 具有出色的耐高温性、机 械强度、化学稳定性和电绝缘性，且具有自润滑性，是综合性能全面优异的特种工程塑料，在航空航 天、电子信息、工业等行业广泛应用，24 年全球/国内市场规模约61/19 亿元。在以塑代钢、轻量化产 业趋势下，预计未来将以超10%的年化增速增长。PEEK 在工艺knowhow、资金等方面壁垒较高，当前 以威格斯等海外巨头主导，国内如中研股份、鹏孚隆、沃特股份等厂商加力向上，推进国产替代。行业 内已有厂商将PEEK 用于谐波减速器等人形硬件端，重量、扭矩/重量比、寿命等性能显著优化，未来 其渗透率或持续向上。 投资建议：轻量化助力人形在续航、性能、使用寿命等多方面优化提升，是大势所趋。其中镁合金、 PEEK 材料各具优势，有望充分受益人形机器人产业趋势。镁合金方面，建议关注星源卓镁、旭升集 团、嵘泰股份等。PEEK 方面，建议关注新瀚新材、中欣氟材、中研股份、沃特股份、唯科科技、肇民 科技等。 风险提示：人形机器人终端应用落地不及预期、人形机器人核心部件降本进程不及预期、机器人大小脑 训练进程不及预期 轻量化助力人形机器人 ...