Guotai Junan: Domestic enterprises are accelerating the convergence of technology overseas. Recommend companies with agile manufacturing capabilities and product companies

According to the Zhitong Finance APP, Guotai Junan has released a research report stating that currently, the main products in the dexterous hand industry are still dominated by foreign brands. Benefiting from the development of humanoid robots, domestic companies are following suit and launching their own related dexterous hand products, with technology accelerating to converge overseas. The firm recommends companies with dexterous hand production capabilities and products, as well as core component manufacturers of dexterous hands, with a focus on recommending ZHAOWEI (003021.SZ), MOONS’ (603728.SH), and Jiecang Linear Motion Technology (603583.SH). The beneficiaries include Dingzhi Technology (873593.BJ).

Guotai Junan's main viewpoints are as follows:

Dexterous hands are the soul of humanoid robots, and cost reduction is key

As a robot with a physiological structure similar to a human hand, a dexterous hand is a high-end end-effector that can achieve intelligent control. There are various types of dexterous hands, which can be classified according to their transmission methods and driving structures into tendon-driven, link-driven, gear-driven, hydraulic-driven, and hybrid-driven, with tendon-driven solutions being the mainstream in the industry. After Tesla released its prototype, the dexterous hand solutions it showcased have undergone multiple iterations, with a focus on cost reduction. The overall reconstruction of the drive system has led to a more streamlined design and more flexible movements in the dexterous hand showcased in October 2024. The current dexterous hand solution drives the tendon through a planetary roller screw, while increasing the degrees of freedom to 22, with the drive device moved to the forearm.

Hollow cup motors are the preferred choice for dexterous hand drive solutions, and transmission solutions should be diverse

The driving structure mainly refers to the driving source of the dexterous hand module. Currently, most humanoid robots adopt an electric drive mode, so the driving source for dexterous hands mainly relies on motors. For humanoid robots, hollow cup motors have significant advantages, with various characteristics meeting the needs of humanoid robots. In terms of transmission methods, tendon-driven solutions remain mainstream, with different manufacturers having varying transmission solutions, all exhibiting certain innovations. In the first, second, and third stages of transmission, Tesla has chosen an innovative solution of motor + micro screw + tendon.

Dexterous hand tactile solutions: Perception technology is the "functional arm" for the commercialization of robots

The sensors in dexterous hands mainly include internal sensors and external sensors. Internal sensors mainly feedback the posture information of the dexterous hand, determining its stability. External sensors include proximity sensors and tactile sensors, primarily sensing the position and force of target objects, with tactile sensors being key to the dexterous hand's functionality. The core task of tactile sensors is to simulate the sensory capabilities of human skin, with their technological route focusing on "sensitivity" and "multifunctionality." Therefore, in terms of material selection, tactile sensors prefer flexible materials with properties such as softness, low modulus, and ease of deformation. Among them, resistive sensors have a simple structure and low cost, making them common tactile sensors. In the long term, electronic skin is seen as the ultimate form of tactile sensing and is regarded as an emerging development direction for future electronic technology.

Risk Warning: Uncertainty risks in the industrialization process of humanoid robots and risks of technology development not meeting expectations