SIASUN(SZ:300024)2025-08-14 02:44Summary of the Conference Call on Humanoids Industry Industry Overview - The conference focused on the humanoid robotics industry, particularly highlighted at the World Robot Conference (WRC) 2025, showcasing rapid expansion and public interest in intelligent robots [1][4]. Key Insights - Increased Public Engagement: WRC 2025 saw significantly higher attendance compared to WRC 2024, with a notable presence of families, indicating a growing public interest in humanoid robots [4]. - China's Leadership: China's enthusiasm for humanoid robots is not limited to government officials but is widespread among the general public, which is crucial for the country's leadership in the humanoid ecosystem [4][9]. - Market Sentiment: The market sentiment for humanoid stocks is expected to remain strong, with potential increases of 2-5% by the end of WRC 2025, contingent on any major orders announced during the event [5]. Company Developments - UBTECH: Increased its 2025 delivery target to over 500 units from a previous range of 300-500 units, with a goal of 2,000-3,000 units in 2026 due to surging order volumes [10]. - Galbot and Robotera: Galbot targets 300-500 units, while Robotera aims for 100 robot units and 500-600 hands [10]. - Linkerbot and OY Motion: Linkerbot expects 5,000-10,000 shipments of dexterous hands this year, with a ten-fold increase projected for 2026; OY Motion anticipates 2,000-3,000 units in the second half of 2025 [10]. Technological Advancements - Integration of Hardware and Software: Companies are focusing on optimizing both hardware and software to enhance the intelligence level of humanoid robots, with full-stack players achieving better results through integrated systems [11]. - Data Utilization: The industry faces challenges in achieving generalization due to a lack of robot data, raising debates on the effectiveness of simulation versus real-world data [12][15]. - Efficiency Improvements: Observations at WRC indicated that humanoids still require significant time to perform tasks compared to humans, highlighting the need for efficiency enhancements [13]. Market Trends - Adoption of Wheel-based Humanoids: Wheel-based humanoids are expected to see earlier adoption in commercial services due to their simpler algorithms and better efficiency compared to bipedal robots [17]. - Dexterous Hands: The industry is shifting towards 5-finger dexterous hands, which are essential for humanoid capabilities, with expectations for increased adoption in the second half of 2025 [21][22]. - Tactile Sensors: Tactile sensors are becoming a standard feature in dexterous hands, accounting for 15-20% of their value, and are expected to see accelerated adoption [23]. Global Expansion - Chinese Companies Going Global: Several Chinese humanoid robot companies are strategically expanding into international markets, focusing on commercial services like retail, which offer easier scaling opportunities [26]. Conclusion - The humanoid robotics industry is experiencing significant growth, driven by public interest, technological advancements, and strategic company developments. China's position as a leader in this field is reinforced by widespread adoption and global expansion efforts by its companies.