Everbright Securities: The cultural tourism industry may be the first landing scenario for humanoid robots

According to the Zhitong Finance APP, Everbright Securities released a research report stating that the demand in the cultural and tourism market is strong, and the cost advantages of robot substitution are significant. The demand for services such as scenic area festivals, daily performances, and guided tours continues to exist, and robots can work 24 hours a day, which can reduce labor costs. The cultural and tourism scenarios are relatively fixed, and humanoid robots currently have high technological adaptability. Services such as guiding, performing, and patrolling in cultural and tourism scenarios have characteristics of fixed processes and clear interaction modes. Considering the current development stage of humanoid robots and their good adaptability to the cultural and tourism industry, cultural and tourism may be the first landing scenario for humanoid robots. Companies related to cultural and tourism operations are expected to benefit, and it is recommended to pay attention to construction and building materials-related stocks: DAFENG INDUSTRY (603081.SH), Fengyuzhu (603466.SH).

The main points of Everbright Securities are as follows:

What development stage are humanoid robots currently in?

They have moved from the laboratory to preliminary commercial applications and are in a critical stage of accelerating the landing of specialized scenarios and exploring breakthroughs in general scenarios.

1) Large-scale application in specialized scenarios: First, in the public service sector, robots have been used in exhibition performances, reception, and high-risk environment inspections. For example, the daily rental fee for humanoid robots in the Hangzhou rental market can reach 30,000 to 200,000 yuan, covering fields such as film shooting and event performances; second, in the industrial manufacturing sector, heterogeneous humanoid robots in the training ground of Zhangjiang, Shanghai, can already perform tasks such as pouring drinks and folding clothes, and can be expanded to industrial sorting and medical assistance scenarios in the future.

2) Technological breakthroughs in general scenarios: On one hand, there is an improvement in mobility. According to Quantum Bit, the domestic robot N2 has 18 degrees of freedom (with 5 degrees of freedom for each leg and 4 degrees of freedom for each arm) and has achieved the world's first continuous somersault in indoor and outdoor multi-scenarios, with a running speed of 3.5 meters per second; on the other hand, there is an evolution in interaction capabilities: the bionic robot Hobbs achieves a 1:1 simulation of humans through a multi-modal large model, with expressive interaction capabilities, applicable in fields such as elderly companionship and cultural tourism guidance.**

What are the main bottlenecks for large-scale deployment of humanoid robots?

1) Limitations in degrees of freedom: Currently, mainstream humanoid robots generally have low degrees of freedom (DOF). For example, the H1 robot from Yushu Technology has only 19 degrees of freedom, making it unable to perform complex and delicate tasks (such as household chores and flexible object manipulation).

2) Lack of training data: Each robot in the national training center can only collect 500 valid data points per day, and it is expected that the cumulative data volume will reach 10 million by 2025, still far below the training requirements for general AI.

3) Poor model generalization: Existing AI algorithms lack adaptability in complex environments (such as rugged terrain and dynamic obstacles) and rely on a large amount of scenario data for training, while the cost of collecting real-world data is high and the labeling is complex.

4) High R&D costs: The investment in hardware development (such as lightweight skeletons and high-explosive joints) and algorithm iteration is enormous. Boston Dynamics' Atlas costs $2 million, while the domestic N2 has dropped to 39,900 yuan, but it has not yet covered the household market.

Why might cultural and tourism be the first large-scale landing scenario for humanoid robots? 1) The demand for cultural tourism is strong, and the cost advantages of robot replacement are significant. The demand for services such as scenic area festivals, daily performances, and guided tours continues to exist, and robots can work 24 hours a day, reducing labor costs. For example, the Yushu H1 robot participates in performances through a rental model, with a single rental cost only one-fifth that of a traditional dance team. This model is particularly suitable for small and medium-sized cultural tourism projects, such as scenic area festival activities and local cultural exhibitions, as it can reduce initial investment costs and quickly attract traffic.

At the same time, to adapt to the demand for modular and customized services, robot manufacturers have begun to offer one-stop solutions of "hardware + content." Companies like Yushu Technology and Zhongqing Technology can provide "character package" services tailored to cultural tourism scenarios, allowing users to customize the robot's appearance (such as ancient costumes, opera attire) and action library (such as martial arts, dance). Humanoid robots can randomly transform into ancient soldiers to perform complex actions such as formation and combat.

2) Cultural tourism scenarios are relatively fixed, and humanoid robots currently have high technical adaptability. Services such as guiding, performing, and patrolling in cultural tourism scenarios have fixed processes and clear interaction modes. For example, in the fixed process performance of the Snake Year Spring Festival Gala "Yang BOT," the Yushu robot used AI reinforcement learning technology to convert the dance movements of performers into program instructions, achieving precise coordination of 19 joints and smooth transitions of complex movements.

At the AI temple fair, the robot band performed, bipedal humanoid robots played soccer, humanoid robots sold New Year goods, and the "Fu Lu Shou Xi Cai" five blessings robots paraded in the square, attracting many tourists and providing them with a new cultural experience. The success of the AI temple fair lies in combining technology with traditional culture to create a unique interactive experience. The performance of the robot band not only showcased the musical talents of the robots but also enhanced the atmosphere through interaction with the audience. The soccer match conducted by bipedal humanoid robots demonstrated the robots' athletic abilities, attracting a large number of tourists to participate. Additionally, activities such as humanoid robots selling New Year goods and the five blessings robots parading in the square provided convenience for tourists while adding to the festive atmosphere, showcasing the immense potential of robots in the cultural tourism industry.

According to DAFENG INDUSTRY's official WeChat account, DAFENG organized a team for AI technology research and solution development to engage in in-depth exchanges with companies like Yushu Technology and Yun Shen Chu regarding AI + cultural tourism and robot applications, exploring new application scenarios for artificial intelligence in the cultural and sports tourism business. The DAFENG team gained a deep understanding of the core products in the robotics field and their diverse applications in the cultural and sports tourism business, discussing in detail the flexibility, athletic capabilities, and potential applications of robot products in various scenarios.

Currently, DAFENG has taken the lead in the industry by completing the localized deployment of DeepSeek and is spearheading the construction of an open and shared industrial ecosystem for cultural and sports tourism, aiming to become the first solution provider and application provider for AI + robots in cultural and sports tourism scenarios. This collaboration with "Hangzhou Six Little Dragons" will accelerate DAFENG's development of more new products, applications, and scenarios that deeply integrate culture and technology In addition, Fengyuzhu, as a leading enterprise in China's digital display industry, relies on its technological advantages in the application of digital technology and the resources accumulated in the fields of digital art and immersive experiences. Its products and services are widely used in various fields such as digital display, urban cultural experiences, digital tourism, commercial exhibitions, new retail experiences, broadcasting MCN, and digital marketing. For example, the humanoid intelligent control future display center built by the company in Binhu, Fosun, is a comprehensive platform that integrates display, experience, communication, and cooperation. If humanoid robots enter the exhibition hall scene, the company is expected to benefit first.

Considering the current development stage of humanoid robots and their good compatibility with the cultural tourism industry, cultural tourism may be the first landing scene for humanoid robots. Companies related to cultural tourism operations are expected to benefit, and it is recommended to pay attention to construction and building materials-related targets: DAFENG INDUSTRY (603081.SH), Fengyuzhu (603466.SH).

Risk Warning

The iteration speed of humanoid robot technology slows down, the demand for humanoid robots in the cultural tourism market is less than expected, and the delivery speed of humanoid robots is slower than anticipated