未知机构：国盛机械机器人机器人行情持续性判断后续三大主线行情持续性-20241105

Summary of Conference Call Records Industry Overview - The conference call discusses the robotics industry, focusing on the developments and trends related to major players like Huawei, Seres, and Tesla's Optimus [1][2]. Key Points and Arguments 1. Sustainability of Robotics Market: The relationship between Huawei and Seres robots and Tesla's Optimus is described as a "mirror relationship," indicating that advancements in Optimus will accelerate the robotics progress of top domestic tech companies like Huawei [1]. 2. Autonomous Control in Robotics: There is a strong emphasis on the necessity for autonomous control in end-to-end robotics models and computing chips, suggesting that leading companies will continue to enhance their humanoid robot developments [1]. 3. Upcoming Catalysts: The period from late November to December is highlighted as critical for the robotics sector, with significant developments expected in the T-chain, indicating a synchronized industrial progress between China and the U.S. [1]. 4. Three Main Lines of Development: - Huawei's Ecosystem: Huawei is focusing on building an ecosystem around its Pangu large model and Ascend chips, potentially creating multiple robot brands, including its own and those from ecosystem partners [1]. - Chongqing and Sichuan Robotics Chain: The Chongqing government is establishing a "33681" manufacturing cluster and has launched a "Robotics+" action plan, with Seres as a core enterprise. Local companies like Landai Technology and Qin'an Co. are highlighted as key players [2]. - Huawei's Platform Chain: Huawei is involved in various platforms for robotics R&D, although the structure remains unclear before formal project initiation. Companies like Leisai Intelligent and Nengke Technology are noted as potential collaborators [2]. 5. T-Chain Developments: Despite short-term pressures from U.S. election sentiments, the selected suppliers in the T-chain are considered the best in their respective segments, with recommendations for low-position investments in companies like Beite Technology and Shiyun Circuit [2]. Important but Overlooked Content - Risk Factors: There are significant risks mentioned, including potential delays in robot mass production, slower-than-expected progress in large models, and insufficient domestic production levels in the supply chain [2].