Guoxin Securities: The humanoid robot industry is in a stage of rapid development and is expected to gradually penetrate into other application scenarios
The Zhitong Finance App learned that Guoxin Securities released a research report saying that overall, the humanoid robot industry is in a stage of rapid development. With continuous breakthroughs in related technology and the improvement of the industrial chain, it is expected that future humanoid robots will use their high level of intelligence and flexibility to create more diverse application scenarios, greatly broaden market coverage, and further unleash huge commercial value and development potential. Considering factors such as cost, demand, and fault tolerance, it is expected that humanoid robots will first carry out demonstration applications in industrial and other scenarios, and then gradually penetrate into other application scenarios through iterative technology optimization and cost reduction.
Guoxin Securities's main views are as follows:
Robots are known as the “jewel at the top of the manufacturing crown”. Their R&D, manufacturing, and application are important indicators for measuring a country's scientific and technological innovation and the level of high-end manufacturing
Research in the field of humanoid robots began early in the United States. It mainly focuses on industrial, military and other industrial uses, from the government to technology-based enterprises, to promote the rapid development of the humanoid robot industry. Japan's robot body (hardware) manufacturing strength is strong. Core technologies such as precision speed reducers, motors, and controllers form professional barriers, and are deeply integrated between industry, academia, research and use, focusing on the application of humanoid robots in the field of life services. Driven by the EU's “Horizon Europe” plan and the “Hi-Tech Strategy 2025” plan, Germany supports technology research and development, industrial upgrading, and the implementation of robots in practical applications. Korea is one of the countries with the highest robot density in the world. It has 1,012 robots per 10,000 employees, and the robot density has increased by 5% per year since 2018. China joined the humanoid robot circuit late, but it is developing rapidly. The government introduced a series of policy measures to encourage innovation, support research and development, and optimize the business environment, providing a strong impetus for the rapid development of the humanoid robot industry.
The humanoid robot industry chain can be divided into three parts: upper, middle and lower
The upstream of the humanoid robot industry chain is raw materials, components, and software platforms. The core components include servo systems, actuators, speed reducers, control systems, drivers, etc., which account for the highest cost ratio, are technically difficult, and have high barriers. The midstream of the industrial chain is the main body design, manufacture and system integration of humanoid robots. The downstream of the industrial chain is a scenario application. Currently, the promising development direction of humanoid robots is mainly manufacturing, space exploration, life service industry, university research, etc., and application scenarios include logistics and warehousing, automobile automation, and patrolling.
In recent years, the Guangdong government has paid increasing attention to the humanoid robot industry. It has successively introduced a series of highly targeted and forward-looking policy measures to fully promote the high-quality development of the industry
Through accurate investment of special financial funds and effective guidance from industrial funds, Guangdong successfully attracted the active participation of a large amount of social capital, and strongly accelerated the process of iterative upgrading and industrialization of humanoid robot technology innovation. Typical companies include complete machine companies such as Youbi Choice, Progressive Power, Leju Robotics, Zhongqing Robotics, and Elephant Robotics; component companies such as Benmao Technology, Moxian Technology, Lingyi Intelligent Manufacturing, Shenglan Co., Ltd., Haozhi Mechatronics, Topbon Co., Ltd., Raysai Intelligence, Wanxun Automatic Control, and Aviten, as well as application companies such as Ligong Industrial, Tencent, and Pudu Robotics.
Risk warning: Overseas market risks fluctuate; policy effects fall short of expectations. The companies/individual stocks listed in the report are only case studies and are not used as a basis for investment recommendations