领益智造20240223

Summary of the Conference Call for Lingyi Zhi Zao Company and Industry Overview - Company: Lingyi Zhi Zao - Industry: Humanoid Robotics Key Points and Arguments - Lingyi Zhi Zao is actively entering the humanoid robotics sector, having formed a research and development team of 40 to 50 people, with plans to establish two production lines in South China and East China, expected to be operational by the second half of 2025, initially focusing on complete machine OEM business and increasing capital expenditure and R&D investment [2][3][20] - The company is primarily responsible for the integrated design and assembly of joint modules in the humanoid robotics supply chain, providing components such as metal parts, magnets, charging module assemblies, soft-pack business, as well as carbon fiber and plastic composite materials, achieving mass shipment of lightweight materials [2][6] - The humanoid robotics supply chain is more aligned with consumer electronics rather than the automotive industry due to higher processing precision and product intelligence, with broader application scenarios in human-machine interaction, suggesting a focus on smart wearable device companies within the consumer electronics industry [2][5] - The maturity of humanoid robots and the value per unit reaching a certain level will trigger a surge in usage, particularly in industrial applications and home services in the B2C market, with technological advancements and cost control being key driving factors [2][7] - Practical application cases indicate that humanoid robots can significantly enhance efficiency, achieving a human-to-robot ratio of 1:10 to 1:30, with some non-bipedal robots having a payback period of about two years, as brand companies leverage data collection and model training to drive large-scale adoption [2][8] Additional Important Insights - Despite the current unit value of humanoid robots being around $1,000 to$2,000, the market potential is vast, with a higher penetration rate expected in the B2B market over the next three to five years due to urgent demands for automation and efficiency from B-end users [4][11] - The development of humanoid robots faces dual challenges in hardware and software, with software benefiting from advancements in large model technology, while hardware needs to focus on cost reduction, reliability improvement, and operational precision for better application in industrial and home scenarios [4][14] - The global manufacturing workforce is approximately 500 to 600 million, with humanoid robots potentially replacing 40% to 50% of this labor, indicating a higher replacement rate in manufacturing compared to consumer markets [12][13] - Shenzhen's local government has introduced various supportive policies, such as project recognition and acquisition funds, which are beneficial for local enterprises and will promote industry integration and development [16] - The integrated business market space is expected to be ten to twenty times larger than the consumer electronics business, with high revenue expectations for the future [17] - The company has been deeply involved in the consumer electronics sector for 18 years and plans to invest significant strategic resources in humanoid robotics to seize future opportunities [19][20]