Industrial Machinery and Supplies and Components

Sanhua

Deep Research

02498

605488

688322

688071

02050

002050

HSAI

02525

603662

600480

BOSCH

300007

688582

TSLA

XPEV

09868

Entering 2025, three years into the OpenAI-led AI cycle, the industry remains in a full-on AI investment phase. Based on our recent work, Dolphin Research sees 2026 hinging on compute cost-down and on AI capex translating into deployments across software and hardware.The rollout of new hardware is the true incremental driver. Meanwhile, mass production of Tesla's Optimus is drawing closer, and humanoid robots could become the primary AI form factor, reshaping human interaction and productivity.On this premise, Dolphin Research is launching coverage on the robotics supply chain. This is Part 1.

ROBOSENSE

Fulai New Material

Orbbec

Honeywell

W-Ibeda

SANHUA

Hesai

HESAI-W

Keli

Lingyun Ind

Hanwei Electronics

XDLK

Tesla

XPeng

XPENG-W

Humanoid Robots: AI's Best Hope?

GIC Private Limited reduces holdings in Sanhua Smart Control by 2,017,300 shares

Sanhua Smart Control Repurchased 1,027,100 A-shares for 49.936 Million Yuan

Kunyi Securities Predicts Zhejiang Shunfeng's Future Performance and Gives a 'Buy' Rating

Sanhua Smart Control repurchased 664,200 A-shares for RMB 29.8768 million

Sanhua Smart Control Predicts 2025 Net Profit Growth of 25% to 3.874 Billion Yuan

Baillie Gifford sold 4.1415 million shares of Sanhua Smart Control

GIC Private Limited Increases Holdings in Sanhua Smart Control

Schroders PLC Increases Stake in Sanhua Smart Control to 15.07%

Sanhua Intelligent Control Repurchased 3,064,700 Shares

Investor Asks Sanhua Intelligent Control About Energy Storage Business and Stock Repurchase

GIC Private Limited reduced holdings in Sanhua Intelligent Control by 449,600 shares

CITICS Securities Report: Zhonghuan Smart Control Sees Q1-Q3 2025 Profits Up, Maintains 'Buy' Rating

Zhishua Smart Control Spends RMB 30.0075 Million to Repurchase 699,300 A-shares

Sanhua Intelligent Control's Registered Capital Increased to About 4.21 Billion RMB

Sanhua Smart Control Spent 19.9976 Million Yuan to Repurchase 429,300 A-shares

Zhisheng Smart Controls Partially Repurchased Shares

Goldman Sachs Downgrades Sanhua Intelligent Controls to Neutral

Zhejiang Sanhua Commercial Refrigeration Component Trading Co., Ltd. Established

Daiwa Securities downgrades Sanhua Smart Control to hold

GIC Private Limited Increased Holdings in Sanhua Smart Control

SANHE TONGFEI REFRIGERATION

Inovance

JSHL

Envicool

HIMILE SCIENCE AND TECHNOLOGY

Dtech

Han's CNC

Han's Laser

NEWAY

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