on April 18, the concept of a-share humanoid robot surged. by the end of the day, suochen technology (688507.SH) rose 5.55 percent, mingzhi electric appliance (603728.SH) rose 9.99 percent, and Dechang shares (605555.SH), dingzhi technology (873593), buke shares (688160.SH) and emerging equipment (002933.SZ) followed. Wind data shows that since March, brokerages have investigated a number of companies related to the robotics industry, and their layout in the field of humanoid robots has become the focus of attention. Higher attention also further stimulates the rise of related concept stocks. Titanium Media APP learned that many related companies have continued to improve their main businesses such as artificial intelligence, software and hardware development, and have a calm attitude towards "humanoid robots.

A- share humanoid robot concept shocks stronger

Guohai Securities Research Report pointed out that Tesla put forward the layout of humanoid robots in August 2021, resulting in a catfish effect, indirectly promoting other suppliers to accelerate the research and development of humanoid robots, in addition to Tesla, Fu Liye, EngineeredArts, millet and other "players" have also launched humanoid robot products. The humanoid robot industry has a long chain, involving various high-performance parts manufacturing, intelligent software research and development, robot maintenance, robot training and other links. Humanoid robots are in the early stages of development, have not yet achieved platform, some parts of the structure and production lines need to be specially customized, can not be diluted through the scale effect of fixed costs, the initial manufacturing costs of individual parts will be at a high level.

it is not difficult to understand that there are not many companies that have really started to operate. take beite technology (603009.SH), which has started to exert its power, for example, Wind data show that beite technology has been investigated by 58 securities firms since March this year. The company said in the recent release of the institutional research minutes, the company is optimistic about the prospects of the humanoid robot industry chain, in the short and medium term humanoid robot in the B- side of the commercial landing. And said that the software system is the soul, hardware support is just needed. The screw products developed by the company are key hardware components.

Beite Technology plans to invest 0.1 billion to establish a wholly-owned subsidiary-Shanghai Beite Robot Parts Co., Ltd. in Jiading District, Shanghai, which is mainly engaged in the technical development of robot parts and auto parts. Beite Technology believes that the establishment of a new company will help it seize the development opportunities of the humanoid robot industry in order to achieve breakthroughs and upgrades in the company's business.

on April 16, a staff member of beite science and technology's board secretary office said that humanoid robots "are another business section for our future development. currently (mainly) they are still auto parts. now our humanoid robot parts are mainly in the' sample delivery stage', that is, we send samples to customers. the specific follow-up and whether we can get orders depends on customer feedback."

The screw product mentioned earlier is a link in the robot industry chain. The core difficulty of the screw is the processing of the internal thread of the nut, and the grinder is the core equipment of the screw manufacturing. In addition to the screw, it also includes the reducer. At present, the robot reducer is divided into three types: harmonic, RV and planetary. Among them, harmonic is expected to become the main technical route, and the latter two are auxiliary schemes. In addition, it also includes a hollow cup motor and a sensor. According to Guohai Securities, from the cost ratio of each core component, six-dimensional torque/torque sensor (23%), screw (15%), frameless motor (12%), harmonic reducer (11%), hollow cup motor (9%), IMU & encoder (4%), chip (3%).

According to the aforementioned person, just like the company does auto parts instead of complete vehicles, only one of the parts of the humanoid robot-screw products is currently produced. In the view of brokerages, the screw has also become a weapon of Beite Technology. In the research report, Guohai Securities listed Beite Technology, which can do the lead screw, as one of the enterprises with core products and head customer resources. But the person said that the development of humanoid robots is the company's new business, "there are too many uncertain factors, we can only slowly cut in". As for the development effect, it mainly depends on customer demand and its own technological breakthrough. As for what customers have and what needs humanoid robots have, it said that this is a trade secret.

Guohai Securities Research Report has made a brief list of the strengths of each company. In addition to Beite Technology, Sanhua Zhikong (002050.SZ) and Topp Group (601689.SH) make actuator assemblies, double ring transmission (002472.SZ), precision forging technology (300258) make reducers, Zhaomin Technology (301000) make precision injection molded parts, and Silver Wheel Stock (002126.SZ) make heat exchangers, etc. Similar to Beite Technology, Best (300580), Wuzhou Xinchun (603667.SH) and Guangyang (002708.SZ) are also studied on the lead screw. Referring to the competition in the industry, the above-mentioned Beite Technology internal staff said, "We entered relatively early, and the progress of competitors is also confidential. Now it is a highly confidential stage."

According to the analysis of Guohai Securities Research Report, Beite Technology has been deeply involved in the field of chassis precision parts for many years, and has accumulated a large amount of mature experience in material research and development and precision machining. Taking the steering rack of automobiles as an example, its function, shape, processing technology and some core parts of humanoid robots are similar, and the underlying technology is similar. It is believed that the company is expected to rapidly lay out the robot field in the future by virtue of the strong manufacturing process accumulated in the automotive field for many years. However, due to the technology and application terminals of the humanoid robot industry and the automotive industry, there are still some differences, so there is no simple analogy between the two. As of the close of trading on April 18, Beite Technology closed at 14.23 yuan per share, up 4.79 percent, with a total market value of 5.105 billion.

Recently, Jinli Permanent Magnet (300748) said that last year the company's revenue in the field of robotics and industrial servo motors reached 0.217 billion, becoming one of the important high-performance magnet suppliers in this field. Jinli permanent magnet plans to invest in "Mexico's new annual output of 1 million sets of magnetic components production line project", the project is completed and put into production, will help to enhance the company's market competitiveness in the field of humanoid robots and other fields. As of April 18, Jinli Permanent Magnet closed at 15.28 yuan per share, down 0.84, with a total market value of 20.548 billion.

robots (300024) closed at 10.44 yuan per share on the 18th, down 0.57, with a total market value of 16.184 billion. The robot's non-net profit deduction in 2020, 2021, and 2022 are all in a loss state. A person in charge of the company's secretary office said that it has turned losses into profits in 2023, but there are "still deficiencies" in the deduction of non-net profits., Said that in the future, the current status of main business losses will be changed in terms of cost control, cost reduction and efficiency increase, and gross profit margin increase. It said that the company currently has no humanoid robot-related products, is the layout of artificial intelligence, the current focus is still industrial robots. It is further introduced that the artificial intelligence studied by its company mainly depends on the degree of integration with industrial robots, the existing technology reserves, and whether it can empower industrial robots in terms of technology development iteration, derivative data model or frontier in the future. At the same time, it is also discussing whether "human form robots can be applied in the industrial direction in the future", saying that "we also want to cut into this area (field) in the future".

As of the close of trading on April 18, Zhongke Chuangda (300496) closed at 46.30 yuan per share, up only 1%, with a total market value of 21.298 billion. Regarding the news that among the humanoid robot parts independently developed by the Shanghai Robot Industry Technology Research Institute, a "rotary joint" that can make the robot have strong explosive power has won millions of yuan in contract orders, a staff member of the company's secretary office believes According to his personal understanding, this product still belongs to the mechanical category, similar to the early dancing robots, emphasizing that for their company, "anything we produce, there needs to be scenes, customers, selling points, and someone needs to use this thing. At present, more industrialization (robots) are used. But it does not mean that we will not do civilian robots in the future, we will also do it, depending on the demand and development of the entire market. When we continue to accumulate technology, we can catch up under any circumstances."

The person emphasized that the company must focus on steady development, not too aggressive, and not blindly follow the trend as soon as the market appears. The company is based on survival and development. In the future, humanoid robots are indeed a development direction, but when and at what stage they can develop, "we must develop slowly".

Policy-led industry development

From the "Guiding Opinions on the Innovation and Development of Humanoid Robots" issued by the Ministry of Industry and Information Technology, it can be seen that the country attaches great importance to humanoid robots and predicts the prospects, including specific targets to be achieved in 2025 and 2027. There are detailed requirements for the technical level. In particular, it is worth noting that next year, 2-3 ecological enterprises with global influence and a number of specialized and new small and medium-sized enterprises will be cultivated, and 2-3 industrial development clusters will be created.

"Shanghai's action plan for promoting high-quality innovation and development of intelligent robot industry 2023-2025" proposes to build a robot industry innovation highland with global influence by 2025, build 10 industry-class robot head brands, 100 benchmark robot application scenarios, and 100 billion yuan robot related industry scale. Among the three public service platforms established, one is the humanoid robot manufacturing innovation center. In addition, it will also promote the density of industrial robots in key industries to reach 500 million units/10,000 people. Shanghai will also build three radiation belts for the robot industry, Pudong and Lingang full-scene robot radiation belts; Baoshan and Jiading industrial robots and parts radiation belts; Minhang, Qingpu, Songjiang, Jinshan and other industrial and service robot radiation belts.

The importance of policy guidance is self-evident. This is equivalent to a loud clarion call and an interesting and meaningful technological competition. Recently, the Shanghai Robot Industry Technology Research Institute, together with the scientific research teams of Shanghai Jiaotong University, Fudan University and Tongji University, including some enterprises, jointly launched the data construction of humanoid robots. Zhou Meijie, vice president of the Shanghai Institute of Robotics Industry Technology, said that after the data set is completed, it will be open to domestic enterprises and scientific research teams to train large models of humanoid robots, so that robots have "developed brains and cerebellum".

According to the "China Business News" report, humanoid robots involve control systems, execution systems and perception systems, and most of the core components such as motors, reducers, and bearings. The industry expects that humanoid robots are expected to "usher in mass production" this year, while enterprises in related fields are expected to take the lead in core components and other fields with the help of common technology and other advantages. According to the Zhejiang Securities Research Report, the demand for humanoid robots is about 1.77 million units in 2030, and the global market space is expected to reach 169.2 billion yuan. (Author Fang Lu)