--- title: "Cathay Securities and Haitong Securities: Humanoid robots rapidly achieve commercial landing, with short-term focus on industry prosperity fluctuations" type: "News" locale: "en" url: "https://longbridge.com/en/news/261801477.md" description: "CITIC Securities released a research report pointing out that the domestic humanoid robot industry is rapidly achieving commercialization. In the short term, attention should be paid to the fluctuations in industry prosperity, while in the long term, focus should be on high-quality companies. Recently, Zhiyuan Robotics and PIA Automation jointly launched the Elf G2 and signed a procurement contract worth over 100 million yuan with Joyson Electronics, marking the application of intelligent technology in the automotive manufacturing field. UBTECH ROBOTICS also secured a large order of 126 million yuan, with total orders exceeding 630 million yuan for the year" datetime: "2025-10-20T02:40:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/261801477.md) - [en](https://longbridge.com/en/news/261801477.md) - [zh-HK](https://longbridge.com/zh-HK/news/261801477.md) --- # Cathay Securities and Haitong Securities: Humanoid robots rapidly achieve commercial landing, with short-term focus on industry prosperity fluctuations According to the Zhitong Finance APP, Guotai Junan released a research report stating that leading domestic humanoid robot companies have recently continued to launch new products and secure important orders. They have already begun delivery applications in certain industrial sectors, marking a rapid commercialization of the domestic humanoid robot industry. The firm believes that the humanoid robot industry needs to focus on event-driven fluctuations in industry prosperity in the short term, while in the long term, attention should be paid to high-quality companies with certainty in the industrial chain. ## Guotai Junan's main points are as follows: **ZhiYuan Robotics and PIA Automation jointly launch the ZhiYuan Elf G2** According to ZhiYuan Robotics' official WeChat account, on October 16, 2025, ZhiYuan Robotics and PIA Automation held the global offline launch and production ceremony for the ZhiYuan Elf G2 in Ningbo. As a benchmark for industrial-grade interactive embodied robots, the ZhiYuan Elf G2 made its first offline public appearance and simultaneously commenced the first batch of commercial deliveries under a procurement contract worth over 100 million yuan with Joyson Electronics. This marks the official application of interactive embodied intelligence technology in the automotive parts manufacturing scene, injecting strong momentum into the intelligent upgrade of the automotive manufacturing industry. **The first batch of delivered Elf G2s will be used in automotive parts production lines** According to the plan, the first batch of ZhiYuan Elf G2s will be deployed first in the automotive parts production line of Joyson Electronics. Through deep adaptation between the robots and the production line, Joyson Electronics will achieve a leap from "human-machine collaboration" to "machine-led" in certain processes, significantly improving production efficiency and reducing operational errors, creating a demonstration model of "embodied intelligence + industrial production" in the automotive parts manufacturing field. In addition, a relevant person in charge at Joyson Electronics pointed out that there are already thousands of application positions in its own manufacturing scene that are compatible with the Elf G2, and there are even more potential points in the upstream and downstream industrial chain, providing vast space for scaled applications. Meanwhile, PIA Automation announced at the ceremony that it will build a production line for embodied intelligent robots with an annual capacity of "3000 units+" to prepare for the entry of the Elf G2 into more manufacturing enterprises' industrial scenes. **UBTECH wins another large order of 126 million yuan, Walker humanoid robot's annual orders exceed 630 million yuan** According to UBTECH's official WeChat account, on October 16, UBTECH won the "Guangxi Embodied Intelligent Data Collection and Testing Center Equipment Procurement and Installation" project, with an order amount of 126 million yuan. According to the project plan, this procurement covers UBTECH's latest fully autonomous humanoid robot Walker S2, which can autonomously change batteries. This order is scheduled to be delivered within 2025 after the contract is signed. This win follows a 250 million yuan global single largest order in September and several tens of millions of yuan orders recently, marking another large humanoid robot order exceeding 100 million yuan for UBTECH. So far, excluding the marathon champion-level full-size humanoid robot TianGong XingZhe jointly developed by UBTECH and Beijing Guodi, the UBTECH Walker series humanoid robots have received over 630 million yuan in orders this year, continuing to lead the global commercialization process of humanoid robots. **Risk Warning:** Industry development progress may fall short of expectations; domestic policy implementation may not meet expectations; risk of changes in technological routes ### Related Stocks - [688306.CN](https://longbridge.com/en/quote/688306.CN.md) - [09880.HK](https://longbridge.com/en/quote/09880.HK.md) ## Related News & Research - [FACTBOX-Here are the Democrats taking early steps in potential 2028 White House bids](https://longbridge.com/en/news/286890348.md) - [Figure AI had one of its robots race a human to sort packages. 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