Everbright Securities has released a research report stating that the growing demand for lightweight humanoid robots is driving simultaneous expansion of multiple categories of new chemical materials, including ultra-high molecular weight polyethylene and PPA. Beyond carbon fiber and PEEK, ultra-high molecular weight polyethylene, with its high strength, light weight, and wear-resistant self-lubricating properties, serves as a core material for dexterous hand tendon ropes and joint transmission, and Yunzhongma has positioned itself in upstream high-end capacity by taking a stake in Zhongxi New Materials. PPA (high-temperature nylon) and other materials also have broad application prospects in core components such as robot joints, gear bearings, and connectors. Taking Kingfa Sci. & Tech. Co., Ltd. (600143.SH), a leading domestic specialty engineering plastics company, as an example, the company has established a dedicated robot materials R&D team and is actively conducting collaborative material development and cooperation with leading enterprises in the robotics field. It has successively launched ultra-high strength, fatigue-resistant and wear-resistant PPA series products, significantly improving the motion performance and stable, durable performance of key components in the embodied intelligence field. The main points of Everbright Securities are as follows: The implementation of physical AI and mass production of humanoid robots bring certain incremental space for lightweight materials. Physical AI drives artificial intelligence from digital simulation to real-world interaction, with embodied intelligence being its core implementation form. Humanoid robots, as the core carrier of embodied intelligence, are moving from the laboratory demonstration stage into large-scale industrial deployment. Compared with traditional industrial robots, humanoid robots designed for complex scenario operations impose more stringent performance requirements on structural components, including lightweight design, high flexibility, fatigue resistance, and high response sensitivity, directly reshaping the demand logic for upstream chemical lightweight materials. According to the Ministry of Industry and Information Technology, China's humanoid robot full-machine output is expected to exceed 100,000 units in 2026, and data from the first half of the year further confirms this momentum — China's quadruped robots already account for nearly 70% of global sales, while humanoid robot full-machine products number over 400 models, more than half of the global total. Currently, the humanoid robot industry is crossing the critical threshold from laboratory to factory: global sales were 3,000 units in 2024, and shipments are expected to jump to over 13,000 units in 2025, showing initial growth momentum. Over a longer horizon, Omdia predicts global sales will reach 605,700 units by 2030 and are expected to climb to 2.6 million units by 2035. Carbon fiber fits the rigid demand for lightweight design, and robot volume growth drives demand higher. The core value of carbon fiber in humanoid robot applications lies in building a lightweight, high-strength "skeleton system," addressing core issues such as short battery life, clumsy movements, and poor durability, and providing a material foundation for large-scale deployment. Using high-performance carbon fiber to construct the body skeleton and core structural components can significantly reduce overall weight while effectively avoiding deformation failure under dynamic operations. Its good corrosion resistance and environmental adaptability also ensure stable performance under multiple working conditions. Currently, domestic T300 and T700 grade carbon fiber have achieved large-scale application, T800 grade is steadily advancing toward mass production, and T700 to T800 grades can already meet most structural component needs for humanoid robots. However, the self-sufficiency rate for T1000 grade and above high-end products is less than 10%, and there are still gaps with overseas leaders in prepreg design, composite material molding processes, and cost control, which restricts further penetration of domestic carbon fiber in the robotics field. As humanoid robots gradually move toward scale, the proportion of high-end carbon fiber applications will continue to rise, and process optimization and technological upgrading are expected to accelerate the opening of incremental space for domestic substitution. PEEK's performance advantages stand out, leading the lightweight robot track. Gaogong Robot Industry Research Institute (GGI) estimates that the global humanoid robot market was about USD 1.017 billion in 2024, will reach USD 15 billion by 2030, with a CAGR exceeding 56% from 2024 to 2030. Lightweight design is one of the better solutions to achieve load capacity, battery life, and flexibility for humanoid robots. PEEK material has both high rigidity and high toughness, while also possessing excellent heat resistance, corrosion resistance, and wear resistance. In addition, as a thermoplastic material, PEEK is easy to process into parts of various shapes and can be applied in various special components or special working conditions. At the same time, pure PEEK resin has a density of only about 1.3 g/cm3, even lower than carbon fiber material density, making it an excellent lightweight material. In summary, PEEK material itself meets the requirements of high-strength lightweight new materials and has high application potential in the humanoid robot field. The growing lightweight demand for humanoid robots drives simultaneous expansion of multiple categories of new chemical materials, including ultra-high molecular weight polyethylene and PPA. Beyond carbon fiber and PEEK, ultra-high molecular weight polyethylene, with its high strength, light weight, and wear-resistant self-lubricating properties, serves as a core material for dexterous hand tendon ropes and joint transmission, and Yunzhongma has positioned itself in upstream high-end capacity by taking a stake in Zhongxi New Materials. PPA (high-temperature nylon) and other materials also have broad application prospects in core components such as robot joints, gear bearings, and connectors. Taking Kingfa Sci. & Tech. Co., Ltd. (600143.SH), a leading domestic specialty engineering plastics company, as an example, the company has established a dedicated robot materials R&D team and is actively conducting collaborative material development and cooperation with leading enterprises in the robotics field. It has successively launched ultra-high strength, fatigue-resistant and wear-resistant PPA series products, significantly improving the motion performance and stable, durable performance of key components in the embodied intelligence field. Risk warnings: technology substitution risk, downstream promotion and application falling short of expectations, and raw material price fluctuation risk.