SIASUN(300024)2025-03-18 01:38Summary of Key Points from the Conference Call on Humanoid Robots Industry Overview - The report focuses on the humanoid robot industry, particularly the anticipated mass production and market dynamics expected in 2025, which is projected to be a pivotal year for the industry [2][3]. Core Insights and Arguments - Market expectations regarding the mass production of humanoid robots are crucial for determining market trends. If the sales forecast increases significantly, the market may exceed expectations; conversely, a downward adjustment could lead to a trend reversal [2][3]. - The ability to achieve sales targets of 50,000 to 100,000 units will shift the focus from "can we produce" to "can we sell" [2][3]. - Humanoid robots differ from traditional industrial robots in their motion control, relying on real-time judgment to generate movement trajectories, while traditional robots depend on pre-programmed paths [4][5]. - The report emphasizes that humanoid robots will first find applications in the B2B sector due to strong technical adaptability and rigid demand in industries such as manufacturing, healthcare, and logistics [2][6]. - The B2B sector benefits from standardized industrial environments and significant policy support, although challenges remain in developing upper limb motion control algorithms due to complexity and insufficient training data [7][8]. Additional Important Insights - First-tier developers (e.g., Tesla, Huawei) focus on general-purpose platform robots, while second-tier developers tailor solutions for specific scenarios, akin to app development on mobile platforms [8][9]. - Small models are advantageous in B2B applications as they reduce development and deployment costs, require less training data, and can operate with simpler hardware configurations [9][10]. - Data collection is critical for upper limb motion control in humanoid robots, with current challenges in gathering sufficient training data for complex tasks [10][11]. - The humanoid robot industry chain will consist of five types of players: integrated body enterprises, traditional industrial companies, independent controller firms, motion control companies, and secondary development application enterprises [11][12]. - Traditional public enterprises play a role in facilitating the development and application of humanoid robot technology by collaborating with both first and second-tier developers [14][15]. - Independent third-party companies provide training platforms and solutions that enhance motion control efficiency for various humanoid robots [15][16]. - Investment opportunities are seen in second-tier development firms, particularly those involved in education, healthcare, and security, as many of their stock prices are currently low with potential for significant growth [16][17]. - The motion control sector is viewed as a reliable investment opportunity due to the necessity of data collection and training across different scenarios, which will drive substantial capital expenditures and order catalysts [17].