Huatai Securities: Suggest focusing on nimble flashlight and joint motor manufacturers.

Huatai Securities pointed out that domestic and foreign robot manufacturers are now entering a key stage of mass production breakthrough. According to estimates, the global market space for humanoid robot motors in 2030 may reach 91.76 billion yuan. The mass production barrier for robot motors is high, and leading companies will have an advantage in the industry. Humanoid robots require motor performance to be well-balanced in various aspects, and mass production will test the stability of enterprises' delivery capabilities. Leading companies will have a significant advantage in the industry due to their research and development and supply chain capabilities. The market believes that foreign motor companies have a clear first-mover advantage. Huatai Securities emphasizes that domestic motor companies have research and development capabilities and technological strengths, placing them on the same starting line as foreign companies in the field of humanoid robots. Domestic motor companies have advantages in response speed and cost control capabilities, and some companies have already sent product samples to top global robot manufacturers, with core parameters matching those of similar products overseas. It is recommended to pay attention to manufacturers of dexterous hand motors and joint motors.