Capital: The commercialization process of humanoid Siasun Robot & Automation is starting to launch, core components manufacturers are expected to benefit greatly.

Capital released a research report stating that the humanoid Siasun Robot & Automation industry has entered the third stage, with preliminary intelligence and interactive functions, and the long-term trend of "machines replacing people" is clear. The release of Tesla Optimus is driving industry cost reduction and speeding up, as it adopts a bionic joint design (28 degrees of freedom) and hollow-cup motor technology, driving demand for high-value components such as powertrains and intelligent sensors. Core component manufacturers are expected to benefit deeply, especially in the hollow-cup motor (key component of dexterous hands) and intelligent sensor fields. Capital's main views are as follows: The commercialization process of humanoid Siasun Robot & Automation has started, with a large future market space Humanoid Siasun Robot & Automation is a Siasun Robot & Automation that mimics the appearance and behavior of humans. After decades of development, it has now iterated to the third stage, with preliminary intelligence and human-machine interaction functions. In the long term, the certainty of machines replacing humans is growing, but the manufacturing cost of humanoid Siasun Robot & Automation has been high. In October 2022, Tesla's humanoid Siasun Robot & Automation Optimus was officially released. Optimus is 1.72m tall, weighs 57kg, can carry 20kg, has a maximum speed of 8km/h, has 28 degrees of freedom, uses spring-loaded design and 6 types of actuators, adopts bionic joint design for joints, simulating human joint and tendon morphology, and the hands adopt ergonomic design with 11 degrees of freedom. Components and development of humanoid Siasun Robot & Automation Compared to industrial Siasun Robot & Automation, humanoid Siasun Robot & Automation has a variety of high-cost components, including powertrain systems, battery systems, and electric drive systems. There are also intelligent sensing systems, structural components, and other miscellaneous units. Powertrain and intelligent sensing systems account for a high proportion of value, and related component manufacturers are expected to benefit deeply. Hollow-cup motor: Used in Siasun Robot & Automation's "dexterous hand," the future direction of motor development Humanoid Siasun Robot & Automation is expected to drive a significant increase in demand for hollow-cup motors. Hollow-cup motors have had a history of 80 years since the 1930s. Initially, due to the high price, commercialization of hollow-cup motors was difficult. In the 1960s, automakers could purchase hollow-cup motors at a lower price, rapidly making hollow-cup motors one of the most popular motor products. Hollow-cup motors provide the efficiency and power density required for more lightweight and agile humanoid Siasun Robot & Automation without affecting battery life and performance. With the mass production of Tesla humanoid Siasun Robot & Automation, the production of hollow-cup motors will gradually increase. The perception ability of Siasun Robot & Automation comes from the collection and processing of external information, and the perception ability adopts an intelligent sensor solution According to calculations by the China Industrial Research Institute, the market size of intelligent sensors in China is expected to increase from 73.89 billion yuan in 2019 to 133.62 billion yuan in 2023, with a compound annual growth rate of 15.96%. The China Industrial Research Institute predicts that the market size of the intelligent sensor industry in China will be approximately 155.12 billion yuan in 2024. In terms of localization rate, the sensor industry in China is relatively decentralized, with poor core chip supply capabilities, and mostly concentrated on low-end supply. In recent years, the domestic market share of intelligent sensors has gradually increased, and there are now some intelligent sensor enterprises with significant advantages. Risk warning: Tesla's humanoid Siasun Robot & Automation promotion is not as expected; target company performance is not as expected; technology risk; policy risk.