“Hotspot Harvester” – On one side, the September 3rd military parade showcasedthe new domestic active main battle equipment “New Domain New Quality Forces” (with unmanned intelligence and hypersonic weapons making a strong appearance), while on the other side, Shanghai launched the “Artificial Intelligence +” initiative, directly setting the policy direction for the AI sector; in contrast, overseas, the S&P 500 and Nasdaq both fell (down 0.69% and 0.82% respectively), with tech giants like Nvidia and Tesla also adjusting with the market (Nvidia down 1.97%, Tesla down 1.35%).
1. Robotics Sector: From “Grand Narrative” to Mass Production, Thousands of Orders Unlock New Productive Forces
Robots are undoubtedly the “traffic bearers” in the tech circle this September – Tesla’s “Master Plan Part 4” elevates Optimus to a level where it represents “80% of the company’s value”, Stardust Intelligence has secured orders for thousands of units, and Yushu Technology is racing towards an IPO with product structure data. The core logic of this sector has shifted from “concept hype” to “technology implementation + production capacity expectations”.
1. Tesla Optimus: Beyond “Emotional Value”, Production Rhythm is Key
In the early hours of September 2, Tesla officially released the “Fourth Chapter of the Master Plan” (Master Plan Part 4), featuring a cover image ofthe Optimus robot opening a car trunk, which fully realizes the synergy of “robots + cars”. More importantly, Tesla has clearly stated: “About 80% of the company’s value will depend on the Optimus robot” – this essentially sets the “industry ceiling” for the entire robotics sector.
Currently, the most attention is on themass production rumors of the GEN3 model: According to supply chain news, the GEN3 version may be released in October and publicly displayed in November; Tier 1 suppliers have received production guidance for next year – starting from the third quarter, weekly production capacity is expected to reach 1,000-10,000 units, with an annual production target of 500,000 units (note: this rumor has not been confirmed).
As a supplier to Tesla,Zhejiang Rongtai responded that they are aware of the rumors but cannot confirm their accuracy, but they clearly stated that “we have a close cooperation with Tesla”. For investors, the “truth or falsity” of the rumors is temporarily unimportant – what matters is the expectation of mass production from “0 to 1”, which has more emotional driving force than short-term verification.
2. Stardust Intelligence × XianGong Intelligence: Thousands of Orders Realized, Controller Technology Becomes the “Invisible Champion”
If Tesla represents the “grand narrative”, the collaboration between Stardust Intelligence and XianGong Intelligence is a “model of commercialization”. On September 2, Stardust Intelligence officially announced astrategic order for thousands of humanoid robots with Shanghai XianGong Intelligence, planning to deploy in phases over two years, covering industrial, manufacturing, warehousing, and logistics scenarios – this is one of the few “thousand-unit” humanoid robot orders in the country, directly validating the commercial feasibility of industrial scenarios.
It is essential to highlightXianGong Intelligence’s core technological barriers: it is the world’s largest supplier of robot controller systems, ranking first in global sales for two consecutive years (2023-2024), with over 1,500 domestic and international clients including Philips, Schneider, and Siemens. The robot controller is equivalent to the “brain of the robot”; XianGong’s ability to secure the top position globally indicates its technical strength in “motion control algorithms and multi-machine collaboration” – and the combination of Stardust Intelligence’s AI robots with XianGong’s controllers forms a synergy of “complete machine + core components”, which is also the core path for the large-scale application of robots (first solving the stability of the “brain”, then expanding mass production).
3. Yushu Technology IPO: Quadruped Robots Lead, Humanoid Robots Await Breakthrough
On September 2, Yushu Technology announced plans to submit an IPO application between October and December 2025, indicating that the first domestic “robotics stock” is getting closer. From the disclosed operational data, Yushu’sproduct structure is very clear:
- 2024 sales proportion: quadruped robots 65%, humanoid robots 30%, component products 5%;
- Application scenarios: 80% of quadruped robots are used in research/education/consumer fields, with 20% entering industrial applications (inspection, firefighting); humanoid robots currently only cover research/education/consumer fields.
Yushu’s technical path is pragmatic: first relying on quadruped robots to open up the “research/education + consumer” market (such as university research and family companionship), and then accumulating technology to tackle the industrial scenarios for humanoid robots. After the IPO, the speed of technological iteration for its humanoid robots (such as mobility flexibility and load capacity) and the situation of industrial orders will be key to assessing its long-term value – after all, humanoid robots are still in the “transition from research/education to industrial” phase, and whoever breaks through the scene first will seize the opportunity.
2. Optical Modules & Silicon Photonics: AI Computing Power is a “Must-Have Track”, Performance Explosion Expected in the Second Half of the Year
If robots represent the “future narrative”, then optical modules are the “current necessity” – AI computing power demand doubles every 3.5 months, and optical modules are the “blood vessels of computing power transmission”; the pace of upgrading from 400G to 800G and 1.6T directly determines the performance explosion of related companies. Yuanjie Technology and Huagong Technology are representatives of “different tiers” in this track.
1. Yuanjie Technology: 100mW Product Validation Passed, Quarterly Growth in Data Communication Field
The core highlight of Yuanjie Technology is theprogress of customer validation for the 100mW product – the company has confirmed that “validation and testing meet expectations”, which is a key step into the high-end optical module supply chain (the 100mW product is mainly used for long-distance, high-bandwidth optical transmission scenarios and is a core component of 800G/1.6T optical modules).
From the financial data, in the first half of 2025, Yuanjie sawsignificant revenue growth in the data communication field, especially driven by the demand for 400G/800G optical modules, showing a “quarterly upward trend” – this indicates that its products have matched the mainstream market demand. More exciting is the second half of the year: the company expects “substantial revenue growth”, and will gradually ship with customers’ silicon photonics solutions and 1.6T demand – meaning Yuanjie can not only benefit from the current 800G boom but also position itself for the next generation technology of 1.6T, ensuring the “sustainability” of performance growth.
2. Huagong Technology: Six Years of Refining Silicon Photonics Technology, Overseas Market Growth Doubles
Huagong Technology is a “versatile player” in the optical module sector, understanding both technology (six years of silicon photonics layout) and market (surging overseas orders), and even expanding production capacity (Thailand factory), almost hitting all “performance explosion points”.
First, look atcore technology: silicon photonics technology – this is key to solving the contradiction between “AI computing power enhancement and the failure of Moore’s Law”: silicon photonics technology has advantages of large bandwidth, high speed, and low energy consumption, and its penetration rate in high-speed optical modules continues to rise, with the potential to exceed 1/3 in the future. Huagong Technology laid out silicon photonics six years ago, fully integrating chip design and Fab factory packaging: currently, 400G optical modules have fully covered silicon photonics solutions, with 800G and 1.6T also applying silicon photonics technology – this means that in the 1.6T era, Huagong’s silicon photonics modules will “accelerate penetration”, with higher technical barriers than its peers.
Next, look atfinancials and market: overseas orders + production capacity explosion – in the first half of 2025, Huagong’s overseas export business grew significantly, with 400G/800G optical modules being shipped in bulk to overseas equipment manufacturers and distributors, with order growth exceeding 50%; the company expects “greater growth in the second half”, primarily due to the release of demand from overseas leading customers (such as Meta): according to industry chain news, Huagong has entered the Meta supply chain through Cisco, and market rumors suggest that “Meta’s order for 800G optical modules will increase from 5 million units to 19 million units next year” (unconfirmed, but reflects strong overseas demand).
In terms of production capacity, Huagong’s Thailand factory is expected to reach a capacity of 150,000-200,000 units per month by the end of the year – this can avoid overseas trade barriers and serve overseas customers closely, directly supporting the shipment volume in the second half of the year. More critically, as the domestic and international market structure optimizes (the proportion of high-margin 800G/1.6T products increases), the company’s gross margin will continue to improve – the logic of “volume and price rising together” is very clear.
3. Technology Industry Trends: Three Clear Main Lines, Policy + Technology + Scene Resonance
After reviewing individual companies, let’s take a broader perspective – combining the new equipment from the September 3rd military parade, Shanghai’s “Artificial Intelligence +” initiative, and the intensive tech exhibitions in September (semiconductor equipment exhibition, low-altitude economy conference, Huawei Connect conference, etc.), the “three golden main lines” of the technology industry have become very clear:
1. New Domain New Quality Forces: Dual-Drive of Defense + Civilian
The September 3rd military parade provided a clear direction for “New Domain New Quality Forces”:unmanned intelligent equipment, anti-unmanned equipment, network electronic warfare equipment, as well as advanced equipment such as hypersonic, air defense and missile defense, and strategic missiles – the core of these fields is “domestic autonomy”, which will continue to benefit from defense technology investment in the future.
The new domain new quality forces in the civilian sector are represented by robots (industrial/logistics scenarios) and the low-altitude economy (the 4th Low Altitude Economic Development Conference from September 5-7) – the thousands of orders from Stardust Intelligence and the mass production expectations from Tesla essentially represent the realization of “new quality productive forces in the civilian sector”, and policies will continue to encourage companies that achieve “technological breakthroughs + scene realization”.
2. AI Empowerment: From “Technical Concept” to “Industry Penetration”
Shanghai’s “Artificial Intelligence +” initiative clearly aims to lay out six key actions and eight foundational support capabilities – this essentially sets the “policy navigation” for the AI sector: AI is no longer an isolated technology, but is to empower industries such as manufacturing, logistics, and consumer electronics.
For example: Huawei will release a foldable phone on September 4 (AI + consumer electronics), Meta will launch its first AR glasses on September 17 (AI + XR), and Apple’s iPhone 17 on September 10 will also enhance AI features – these innovations on the consumer end will, in turn, drive demand in the upstream industry chain for AI chips, optical modules, etc.; while the “embodied intelligence” in the robotics field (such as Stardust Intelligence’s AI robots) is the core scene for AI realization.
3. Technological Iteration: From “Following” to “Leading”
In the past, domestic tech companies mostly engaged in “following innovation”, but now they have entered the “leading stage” in multiple fields:
- Robots: Breakthrough from research/education and consumer to industrial mass production (thousands of orders from Stardust Intelligence);
- Optical Modules: From 400G→800G→1.6T, silicon photonics technology penetration surpassing overseas (Huagong Technology);
- Semi-conductors: The semiconductor equipment exhibition from September 4-6 will showcase breakthroughs in domestic equipment and core components – this is the “foundation of technological autonomy”.
Technology Investment: “Long-Term Tracking” is More Important than “Speculative Jumping In”
Technology investment has never been about “betting on news”, but rather about “looking at logic”: the 41% rebound of Tesla robots is due to “mass production expectations → emotional realization”; the growth of Huagong Technology’s overseas orders is due to “silicon photonics technology → customer recognition”; Yushu Technology’s IPO is due to “product structure → commercialization validation” – all of these require long-term tracking of technological progress, order situations, and production capacity rhythms to understand the underlying “certainty”.