China Securities Co., Ltd. released a research report stating that the humanoid robotics sector has rebounded after earlier corrections driven by market risk aversion and rumors of factory inspection delays. With negative sentiment fading, the sector index has resumed its upward trend.

During Tesla's Q3 earnings call, the company announced a delay in the Optimus V3 production line launch to before the end of 2026. However, Tesla provided an optimistic mass-production outlook, targeting an annual capacity of one million units by late 2026, with an ultimate goal of producing 50–100 million Optimus 5.0 units per year.

China Securities expects Tesla’s supply chain to soon initiate supplier evaluations in China. Amid overall market liquidity easing, the firm remains bullish on robotics as a key growth sector in tech investments. The Tesla supply chain remains the preferred allocation, followed by suppliers of manufacturers like Unitree and Zhiyuan, which possess batch production capabilities. The report also recommends focusing on incremental segments with technological upgrades, verified product samples, and undervalued opportunities.

**Sector Performance Review**: Taking the Yongying Advanced Manufacturing Fund A as an example—which holds a high proportion of humanoid robotics stocks—its latest net value stands at 2.31, up 5.64% this week, down 11.08% over the past month, but up 18.11% over three months. Top weekly gainers include: - SWMC (+20.7%) - Ubtech (+16.2%) - Siling (+13.4%) - Cubic Sensor (+13.1%) - IKD (+12.8%)

**Key Investment Thesis**: 1) **Mid-Term Industry Trends**: Tesla’s Optimus Gen-3 prototype is expected to debut in Q1 next year, with mass production scaling to one million units by year-end. Supply chain validations remain on track, and factory inspections are anticipated to proceed smoothly. 2) **Market Liquidity & Rotation**: With ample liquidity, capital is rotating into growth sectors. Accelerating industrialization could reposition robotics as a core tech investment theme.

**Recent Developments**: - Tesla’s Q3 earnings call on October 23 outlined plans to launch Optimus V3 in Q1 2026. Elon Musk emphasized that Tesla is at an inflection point, integrating AI into the physical world. Optimus, nearing a major breakthrough, could become "the most significant product ever," with a million-unit annual production line targeted by late next year. Optimus Gen-4 aims for 10 million units, while Gen-5 could reach 50–100 million. - On October 24, XPeng unveiled its fifth-gen humanoid robot at its Tech Day, featuring straight-leg walking for more natural gait and doubled endurance. - On October 20, Unitree introduced its next-gen bionic humanoid robot, H2, equipped with 27 high-DOF joints and proprietary M107 joint motors.