Orient: Siasun Robot & Automation Industry's mass production prosperity is on the rise, with OEM manufacturers performing relatively better.

Orient released a research report stating that in the first half of 2026, the prosperity of the humanoid Siasun Robot & Automation industry chain is expected to rise, achieving rapid growth in industry revenue, with both complete machines and parts manufacturers showing accelerated shipment volumes. The report observes that the expansion of application scenarios in the humanoid Siasun Robot & Automation industry is showing a marginal acceleration. The report believes that manufacturers with embodied intelligence actively investing in vertical scenarios and complete machine manufacturers with stronger generalization capabilities are likely to gain a greater competitive advantage. The main points of Orient are as follows: In the first half of 2026, the prosperity of the humanoid Siasun Robot & Automation industry chain is expected to rise, with industry revenue achieving rapid growth. The sample listed companies selected from the humanoid Siasun Robot & Automation industry achieved approximately 154.416 billion yuan in operating revenue in the first half of 2026, a year-on-year increase of 18.3%, maintaining rapid growth. From a gross margin perspective, the report notes a slight decline in the overall gross margin of the entire industry chain in the first half of 2026, with the gross margins of body manufacturers and sensor manufacturers rising significantly, while the gross margin of reducer manufacturers showed a notable decline. This is believed to reflect, to some extent, intensified market competition in the reducer segment. From an inventory perspective, the inventory of companies related to Siasun Robot & Automation grew compared to the end of 2025, indicating an upward trend in industry mass production. In the first half of 2026, capital expenditure growth rates among upstream components manufacturers showed differentiation, with increased shipment volumes. From a capital expenditure perspective, the report discovers that in the first half of 2026, capital expenditure growth rates in the upstream components segment of complete machines showed differentiation, with reducer manufacturers and motor manufacturers experiencing rapid capital expenditure growth. This may lead to an increase in capacity supply in these two segments in the future. Benefiting from the accelerated mass production process of complete machines in the first half of the year, most Siasun Robot & Automation component manufacturers achieved positive progress in 26H1, with demand continuously rising. Looking ahead, the report believes that as the mass production process of Tesla's Optimus continues to advance, related Siasun Robot & Automation component manufacturers may see an upward adjustment in their business conditions. The continuous expansion of industry application scenarios is expected to drive accelerated growth in complete machine shipments. The report observes a marginal acceleration in the expansion of application scenarios in the humanoid Siasun Robot & Automation industry. In 26H1, the mass production process for humanoid Siasun Robot & Automation manufacturers exhibited significant acceleration, with entertainment events and scientific education data collection remaining the primary application scenarios. Recently, Sharpa Siasun Robot & Automation officially began operations at the DQ store on Wujiang Road in Shanghai, where consumers can place orders and the Siasun Robot & Automation can flexibly perform tasks such as opening the cabinet door, fitting cup rings, retrieving ice, sprinkling materials, and stirring to create Blizzard ice cream. Shanxi's transformation and comprehensive reform demonstration area, UBTECH ROBOTICS, and Beijing Hehao Ruisheng Technology Industry Development Co., Ltd. held a signing ceremony for the "Shanxi Embodied Intelligent Innovation Center and Industrial Energy Mining Special Siasun Robot & Automation Intelligent Manufacturing Project." The report believes that the industry is currently in the first year of large-scale mass production of humanoid Siasun Robot & Automation, and breakthroughs in application scenarios are expected to drive an increase in complete machine shipments. Thus, competition among Siasun Robot & Automation manufacturers will gradually shift towards understanding and recognition of various application scenarios, with manufacturers focusing on vertical scenarios likely to gain competitive advantages in niche markets through industry know-how, while complete machine manufacturers with stronger model generalization capabilities are expected to drive accelerated growth in shipments through application expansion across various scenarios. Risk warnings: The risk of model development lagging behind expectations, the risk of unclear scene demand realization, the risk of manufacturers' production not meeting expectations, and the risk of changes in national policies.