Orient: Tesla's Optimus mass production continues to advance; related component companies are expected to benefit.

Orient released a research report stating that at the current juncture, the certainty of Tesla, Inc. (TSLA.US) Optimus mass production is continuously strengthening. Looking ahead, future progress in Tesla, Inc. Optimus mass production is expected to catalyze sector sentiment, drive sector valuation increases, and related component companies are expected to continue benefiting. Orient's main points are as follows: Tesla, Inc. Optimus mass production continues to advance, expected to boost sector sentiment The bank notes that previously the market's expectations for embodied intelligence development remained relatively low, but with the recent announcements of Tesla, Inc. Optimus factory inspections and mass production progress, sentiment in the Siasun Robot&Automation sector has been somewhat boosted. According to media reports, Tesla, Inc. can currently produce several hundred Optimus units per week at its Fremont factory in the United States, approximately a 10-fold increase from the dozens per week during the small-batch testing phase in the second quarter of this year. Tesla, Inc. management hopes to establish a continuously operating automated production line before the end of this year, with a target capacity of over 1,000 units per week. The bank believes that at the current juncture, the certainty of Tesla, Inc. Optimus mass production is continuously strengthening. Looking ahead, future progress in Tesla, Inc. Optimus mass production is expected to catalyze sector sentiment, drive sector valuation increases, and related component companies are expected to continue benefiting. The embodied intelligence industry's prosperity is showing marginal improvement, reinforcing the certainty of Tesla, Inc. humanoid Siasun Robot&Automation mass production From the latest marginal changes, the bank believes that the prosperity of mass production in the embodied intelligence industry is still improving. Data from the General Administration of Customs shows that from June to August 2026, the monthly export value of intelligent bionic Siasun Robot&Automation exceeded 200 million yuan per month, a significant increase from the average level of January to May; since May 2026, China's monthly export volume of intelligent bionic Siasun Robot&Automation has remained at a relatively high level of around 2,000 units. Among them, from January to August 2026, countries and regions such as the United States, Japan, South Korea, and Germany had relatively large procurement volumes. The bank believes that the high prosperity of the embodied intelligence industry provides favorable external conditions for Tesla, Inc. humanoid Siasun Robot&Automation mass production, reinforcing the certainty of mass production. Leveraging scenario advantages, Optimus mass production ramp-up has strong certainty, and related component companies will continue to benefit The bank notes that although the market is concerned about the limited application scenarios for humanoid Siasun Robot&Automation currently, the bank believes that for cross-industry manufacturers like Tesla, Inc. and XPeng, they possess naturally leading scenario advantages. Tesla, Inc. previously stated on its 2026Q2 earnings call that the first batch of Optimus units off the line will be deployed in internal scenarios at the Optimus Academy factory to collect data. In addition, the bank believes that Tesla, Inc.'s automobile factories are also expected to become suitable scenarios for the application of its humanoid Siasun Robot&Automation. Therefore, the bank believes that such scenario advantages provide favorable internal conditions for Tesla, Inc. Optimus mass production. Previously, XPeng Siasun Robot&Automation completed supply chain factory inspections and core component designations, which the bank believes also indirectly confirms that cross-industry humanoid Siasun Robot&Automation manufacturers have strong mass production momentum; in addition, media reports show that XPeng Siasun Robot&Automation's core supplier level may have a high degree of overlap with Tesla, Inc. Optimus. Looking ahead, the bank believes that Tesla, Inc. Optimus mass production progress is expected to continue advancing, and related component companies will continue to benefit. Risk warnings Manufacturer production falling short of expectations, unclear scenario demand implementation leading to below-expectation results, national policy changes leading to slowed industry development, industry financing falling short of expectations, model development and data collection slower than expected, order execution results below expectations, product price reduction risks.