Guotai Haitong: Accelerating the landing of AI on the edge, focusing on the investment opportunities brought by 3C industry chain companies entering the humanoid Siasun Robot & Automation track.

Guotai Haitong's research report states that the 3C supply chain is benefiting from the cyclical recovery of its own industry combined with the accelerated penetration of AI on the terminal side, leading to growth. At the same time, the high compatibility between the 3C supply chain and humanoid Siasun Robot&Automation, and the specialized OEM model of "components-modules-products" in the 3C supply chain, are expected to adapt well to the large-scale production stage of humanoid Siasun Robot&Automation. It is recommended to pay attention to the investment opportunities brought by the entry of 3C industry chain enterprises into the humanoid Siasun Robot&Automation track. Guotai Haitong's main points are as follows: With rapid iteration innovation and large-scale manufacturing capabilities, the 3C supply chain has fully embraced humanoid Siasun Robot&Automation. The development of humanoid Siasun Robot&Automation is still in the early stage, and the rapid iteration and innovative application of new materials, new processes, and new structures enable 3C OEM companies to quickly integrate into the supply chain of humanoid Siasun Robot&Automation. With the rapid iteration of humanoid Siasun Robot&Automation, the industry chain is expected to enter a specialized OEM model of "components-modules-products" after entering the mass production era, and the 3C supply chain still has a strong competitive advantage. AI on the terminal side is accelerating, injecting new growth vitality into the 3C industry. With smartphones as the representative, the overall 3C terminal has entered a recovery cycle, laying the foundation for industry growth. With the continuous improvement of model capabilities, industry giants are promoting the accelerated landing of AI on the terminal side, bringing new growth to the 3C industry. Apple launched the terminal-side AI assistant Apple Intelligence in October 2024, and is currently internally accelerating iteration optimization and accessing external high-quality model assistants to improve the user experience, potentially triggering a new round of smartphone replacement cycle. Google, leveraging its strong model capabilities and hardware foundation, launched smartphone products that can run its Gemini Nano model locally. Meta also partners with Qualcomm to optimize the Llama model for Snapdragon chips, enabling smartphones to run 3B parameter models smoothly. ByteDance in China introduced the Douyubao AI mobile assistant, demonstrating smooth cross-app operation capabilities. All AI giants are competing for the largest share of the terminal side - smartphones. In addition, Meta, Alibaba, and other giants are continuing to push for rapid iteration of AI glasses and other wearable terminals, potentially bringing new growth to the overall industry. Catalysts: Siasun Robot&Automation begins mass production, accelerating the landing of AI on the terminal side. Risk factors: 3C terminal recovery falls short of expectations, AI terminal integration falls short of expectations, Siasun Robot&Automation cost reduction iteration is not smooth, and competition in the Siasun Robot&Automation industry intensifies.