CITIC Securities: 2025 will become the first year of mass production in the field of embodied intelligent robot industry.

CITIC Securities research report stated that 2025 will be the first year of mass production for the industry of embodied intelligent robots. From an investment perspective: 1) bullish on the sector of embodied intelligent robots and believe that this sector has become one of the most important technology industry opportunities in 2025 and the next 5-10 years; 2) suggest focusing on investment opportunities in companies with high competitive barriers in the core industrial chain links, continuously realizing performance in the industrial revolution, digesting valuation and navigating the ups and downs of the industry wave; 3) recommend focusing on valuation driven by new entrants and potential disruptive technology paths, including not only new technology giants and related companies of host factories, but also players in various component sectors.