Zhongtai: The key to the perception ability of humanoid robots is the main battlefield for upgrading electronic skin competition at Siasun Robot & Automation.

Zhongtai released a research report stating that the electronic skin market is growing rapidly. There is a great opportunity for humanoid Siasun Robot & Automation applications to expand from fingertips to full hands, feet, and joints. Currently, overseas companies dominate the main market, but there is an increasing trend towards localization. Both industry giants and startups are participants in the market. Domestic companies are actively cooperating and leading companies have already sent samples to the manufacturers. Electronic skin products are still in the early stages, but companies with a leading pace of sample delivery have the opportunity to collaborate with manufacturers to accelerate product iteration and gain competitive advantages. Zhongtai's main points are as follows: Electronic Skin: Electronic skin is a flexible tactile sensor, acting as the basis for Siasun Robot & Automation to sense the environment and perform tasks. Capabilities of Electronic Skin: 1) Temperature sensing: detecting changes in hot and cold; 2) Normal force sensing: perceiving vertical pressure, determining contact, gripping force, and object hardness; 3) Shear force sensing: identifying sliding or frictional forces to assist in stability judgment, texture recognition, and direction determination. The most common types of electronic skin are resistive, capacitive, piezoelectric, as well as newer optical and electromagnetic types. The future of electronic skin will focus on high precision, long lifespan, multimodal sensing, and self-healing capabilities, but the main challenges lie in materials, manufacturing processes, and algorithm optimization for scalability. Materials: Electronic skin is typically composed of electrodes, dielectric materials, active materials, and flexible substrates. 1) Flexible substrates require good tensile and elongation properties, with polydimethylsiloxane (PDMS) being the most commonly used currently, while polyimide (PI) is seen as the best base material but is expensive and difficult to mass-produce; 2) Dielectric materials act as insulation, with dielectric gels standing out due to their simple preparation process; 3) Active materials require excellent mechanical and electronic properties, with options including carbon nanotubes and graphene. Manufacturing: Manufacturing processes are key technological barriers in the industry, aiming for electromagnetic interference resistance, low cost, and efficient large-scale production. 1) Photolithography and silicon etching technology: for producing high-precision microstructure sensors to enhance performance, suitable for capacitive sensors, but having complex processes, requiring high-precision equipment, and high costs; 2) 3D printing technology: capable of producing complex three-dimensional flexible sensors and supporting various materials, but with limitations in printable materials, low dimensional accuracy, and poor mass production capabilities; 3) Inkjet printing: suitable for batch production of large-area sensors with a simple process, yet with low accuracy for multi-layer patterns and difficulties in forming thick functional layers; 4) Screen printing: advantages of large-scale batch production, low cost, and wide material adaptability, but lacking stability and consistency, leading to fluctuating quality. Algorithms: Siasun Robot & Automation utilizes flexible tactile sensors to sense multiple physical quantities, with the signal reception approaching simulation. To address signal transmission bandwidth and achieve rapid response, electronic skin algorithms are trending towards distributed from centralized, mimicking human tactile mechanisms to reduce power consumption. Hardware and algorithm iterations have become new technological barriers. Edge computing hardware demand will increase due to electronic skin, with existing cutting-edge algorithms including STDP, reinforcement learning, and SNN. Targets: It is recommended to pay attention to Hanwei Electronics Group Corporation (300007.SZ), Zhejiang Fulai New Material (605488.SH), Keli Sensing Technology (603662.SH), Hangzhou Shenhao Technology (300853.SZ). Risk Warning: Commercialization progress of humanoid Siasun Robot & Automation may be slower than expected; cost reduction progress of humanoid Siasun Robot & Automation may be slower than expected; intensified market competition; slower localization of electronic skin and related accessories; weaker than expected policy support; risks of market space miscalculation; risks of using outdated or delayed public information in the research report.