1、ab12 August 2025Global ResearchFirst ReadChina Industrial AutomationTakeaways from World Robot Conference Humanoids in focus;hardware maturing,no significant progress in softwareWorld Robot Conference(WRC)was recently held in Beijing:nearly 200 companies from the traditional and humanoid robot indus

2、try were present and showcased more than 100 new products;the number of both participants and visitors greatly increased YoY.During WRC,foreign companies displayed more traditional robots,while Chinese companies displayed more humanoids.Humanoid robots were market focus,and we noted the following:1)

3、Hardware performance(especially motion control)has advanced substantially;in contrast,no clear breakthrough in software yet,mainly hurdled by AI models.2)Companies are planning multi-form embodied AI robots(e.g.without feet or dexterous hands or upper bodies),and companies and experts generally agre

4、e that robots should not be limited to humanoid forms(especially in industrial and service scenarios)-in line with our view.3)Pursuit of commercial scenarios remains under way,with local governments and downstream customers pouring support and investment in the humanoid industry.Besides subsidies,we

5、 expect SOEs and government to support industry development by placing orders.Industrial and logistics enterprises are testing humanoid applications in handling and sorting scenarios,but it could take time before they place large batch orders.Based on our Q-Series report(Is the world ready for 1bn r

6、obots?2025/6/17),we are positive on the long-term outlook for humanoids.We estimate more than half of demand will come from industrial scenarios and non-bipedal humanoids in the next five years,and we expect key components to benefit first.Forum takeaways:the world is embracing embodied AI robotsCha