<div id="readability-page-1" class="page"><div>JPMorgan issued a research report noting that the humanoid robotics industry has reached a critical inflection point over the past month, transitioning from proof of concept to scaled deployment. The bank believes capital is increasingly concentrated on profitable platforms with scalability, as well as high-quality component suppliers and &#34;brains&#34; (AI/software) providers. It is optimistic that Leader Harmonious Drive Systems (688017.SH) -1.380 (-0.645%) , Sanhua Intelligent Controls (02050.SH), Minth Group (00425.HK) -0.500 (-1.380%) Short selling $31.43M; Ratio 22.707% , Hengli Hydraulic (601100.SH) +6.120 (+6.313%) , UBTECH (09880.HK) -2.400 (-2.241%) Short selling $83.03M; Ratio 20.372% , and Hyundai Motor (005380.KS) will be able to capture the next wave of industry growth.Regarding the competitive landscape, JPMorgan said Tesla (TSLA.US) is striving to catch up with faster-moving Chinese competitors and Boston Dynamics, with a long-term vision of becoming a physical AI and robotics company. Meanwhile, the bank highlighted Boston Dynamics under Hyundai Motor, which is leveraging its strengths in motion control and industrial integration to target high-value, mission-critical applications. Hyundai Motor is regarded by the bank as one of the companies positioned to capture the next wave of growth, with its significant investments in robotics and AI infrastructure seen as a key factor to watch in future competitive dynamics.The bank pointed out that the key to commercialization lies in &#34;deployment readiness,&#34; namely reliability, maintenance, and integration time. During its robotics field trip in Beijing in April, JPMorgan observed that customers and partners are focusing on scaling up pilot projects and moving toward practical applications. It expects 2026 to see a faster transition from proof of concept (POC) to scaled pilot deployment.This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</div></div>

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JPMorgan's research report highlights a pivotal moment in the humanoid robotics industry, shifting from proof of concept to scaled deployment. The bank identifies key players like Leader Harmonious Drive Systems, Sanhua Intelligent Controls, Minth Group, Hengli Hydraulic, UBTECH, and Hyundai Motor as poised for growth. It notes Tesla's efforts to compete with Chinese firms and Boston Dynamics, emphasizing Hyundai's investments in robotics and AI. The report stresses that commercialization hinges on deployment readiness, with expectations for accelerated pilot projects by 2026.

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JPM: Global Humanoid Robot Race Accelerates, UBTECH  and Others Poised to Capture Growth