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Daiwa analyst reports that China has a huge downstream market for humanoid robots, benefiting from it. Many Chinese robot manufacturers such as Xiaopeng Motors, Midea, Xiaomi Group, and Huawei may deploy robots in their own factories. Daiwa indicates that China can produce low-cost, decent quality robots with low component costs, which may support advanced manufacturing in the future. As initial applications are expected to appear in manufacturing, logistics, healthcare, and AI training, China has significant market demand in these areas, which may accelerate the popularization of humanoid robots in China.