2025-11-10 03:34Summary of the Conference Call on Humanoid Robot Supply Chain Industry Overview - The conference focused on the humanoid robot supply chain, involving nine companies including Sanhua, Tuopu, Rongtai, Shuanghuan, Minth, Joyson, Zhaowei, Best Precision, and Shuanglin [1][4][5] Key Takeaways Capacity Planning and Production - Most suppliers are actively planning capacity in China and overseas (primarily Thailand) to support potential mass production of humanoid robots, with current capacity planning ranging from approximately 100,000 to 1 million robot equivalent units per year [4][5] - Companies are optimistic about industry growth, with a global humanoid robot shipment forecast of 1.38 million units by 2035 [4] - Suppliers are broadening their product portfolios from single components to integrated modules, targeting ambitious market share gains [4] Company-Specific Insights - Sanhua: Maintains over 50% market share in actuator assemblies, focusing on a single leading global customer for now [9] - Tuopu: Plans to establish humanoid-related production capacity in Thailand, Mexico, and the U.S., with an annual capacity of 1 million units in Thailand, contingent on customer demand [9] - Rongtai: Emphasizes precision machining capabilities and aims to secure a position as a supplier for North American customers, with plans to increase capacity by 2025 [10] - Minth: Targets RMB 5 billion in humanoid-related revenue by 2030, with a completed production line for head and face assemblies expected to start commercial production in Q1 2026 [13] - Joyson: Focuses on head assembly and anticipates production ramp-up after Q2 next year, pending customer orders [15] - Zhaowei: Offers micro hardware components for humanoid robots and expects RMB 100 million revenue from dexterous hand-related business in 2026 [16] - Best Precision: Currently has limited sales contribution from humanoid applications, mainly from sampling demand [18] - Shuanglin: Plans to expand capacity for planetary roller screws, with a current capacity of 12,000 units for initial samples [20] Market Dynamics - Companies are showcasing technical capabilities and scalable production readiness as key competitive edges [4] - The ecosystem is evolving with companies eager to expand into robotics components to find new growth engines [4] - The competitive landscape includes various technologies for reduction gears, with companies exploring innovative solutions to enhance performance [15] Future Outlook - Key checkpoints include the Tesla Optimus Gen 3 launch by February/March 2026 and public disclosure of order/shipment targets by the end of 2025 [5] - The overall sentiment remains constructive on the long-term humanoid robot technology trend, with a need to monitor product performance and application developments [5] Additional Important Points - The conference highlighted the importance of collaboration among companies and the need for flexibility in production planning based on customer demand [9][10] - Companies are focusing on developing low-cost production equipment to reduce reliance on overseas equipment [18] - The anticipated growth in the humanoid robot market is driving companies to innovate and adapt their strategies to secure market share [4][5]