In February 2024, Tesla CEO Elon Musk announced that the humanoid robot Optimus will undergo large-scale testing in 2025 and revealed that its production cost is expected to drop below $10,000. This news has significantly increased market interest in the humanoid robot sector. Meanwhile, the Chinese market is accelerating its development; according to the latest report, by 2029, the market size of humanoid robots in China is expected to grow to 75 billion yuan, accounting for nearly 30% of the global market. In this technological race, gear reducers, as a key core component, account for 30% of the total machine cost and are crucial for determining the movement performance and stability of robots. Today, we have selected five companies involved in the humanoid robot and gear reducer fields to provide insights into their investment logic.
Company 1: Shengnan Technology
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Industry Background: Focused on aerospace equipment manufacturing, the company has technical advantages in high-precision machining and automation control.
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Humanoid Robot Layout: Some of the company’s aerospace technologies can be applied to humanoid robots, and it is expected to enter the relevant supply chain in the future.
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Gear Reducer Layout: The company has the capability to produce aerospace speed control devices and dampers, which are compatible with high-precision robot gear reducer technologies.
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Growth Analysis: Although the company’s revenue in 2024 is only 71.9 million yuan, a year-on-year decrease of 57.38%, it continues to push forward with R&D and collaborates with universities such as Nanjing University of Aeronautics and Astronautics and Harbin Institute of Technology, laying the foundation for future technological breakthroughs.
Company 2: Suzhou Axis G
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Industry Background: Deeply engaged in chassis and engine systems, primarily producing high-precision bearings.
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Humanoid Robot Layout: The company has entered the Tesla Optimus robot supply chain, and its joint bearings have passed durability tests, providing a practical application basis.
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Gear Reducer Layout: In recent years, the company has continuously increased its investment in RV gear reducer bearing R&D, maintaining a stable R&D investment ratio of around 7%, and has already sent samples to some robot companies.
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Growth Analysis: From 2017 to 2020, the company ranked first in the industry for needle bearing production, and with the mass production of humanoid robots, its business is expected to experience explosive growth.
Company 3: Jiangnan Yifan
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Industry Background: Mainly engaged in motor manufacturing, with a strong focus on precision transmission.
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Humanoid Robot Layout: The company plans to begin small-scale supply of motors specifically for humanoid robots starting in 2025, entering the smart robot market.
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Gear Reducer Layout: The company offers products such as worm gear reducers and planetary gear transmission reducers, which can meet the needs of different types of robot joints.
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Growth Analysis: Jiangnan Yifan currently relies heavily on the European and American markets, which may be significantly affected by external conditions, but its technological accumulation gives it strong competitiveness in the fields of robot motors and gear reducers.
Company 4: Xiangyang Bearings
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Industry Background: A domestic automotive parts manufacturer with a solid technical foundation in precision bearing manufacturing.
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Humanoid Robot Layout: The company has applied its high-precision component manufacturing technology to the joint components of humanoid robots, enhancing their flexibility and durability.
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Gear Reducer Layout: Primarily developing support bearings for harmonic reducers and RV reducers, its automotive gear reducer bearing technology is compatible with robot bearing principles.
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Growth Analysis: The company has long been deeply involved in the automotive industry and has broad applications in the industrial sector. If it can break through the technological barriers in the robot field, the market potential is promising.
The Last Company: Potential Dark Horse with Doubling Potential
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Industry Background: Mainly engaged in the manufacturing of industrial metals and alloy materials, with products widely used in automotive and machinery fields.
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Humanoid Robot Layout: The company has the capability to supply robot components and may deeply participate in the robot manufacturing supply chain in the future.
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Gear Reducer Layout: The company’s products cover core components of gear reducers, with certain technological accumulation in lightweight and wear resistance.
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Growth Analysis: In the first half of 2024, the company achieved a net profit of 35.4729 million yuan, a year-on-year increase of 1236.27%. With the trend of automotive lightweighting, the market demand for its aluminum alloy products is expected to continue to expand.
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Note:This article does not constitute any investment advice, commitment, or guidance. The comments on the industry and companies mentioned are for academic discussion only.
Industry Trends and Investment Opportunities
As technology giants like Tesla and BYD enter the humanoid robot sector, the industry’s development is accelerating. Gear reducers, as key components of robots, are seeing increasing market demand. Domestic companies have demonstrated strong capabilities in technological breakthroughs and supply chain integration, with significant potential for the future, warranting continued attention!