华泰证券:机器人产业步入深水区 开启去伪存真淘汰赛

格隆汇
06 Jul
华泰证券研报称,机器人早期为主题行情,后产业逐步在软件端硬件端实现技术突破并形成较成熟的硬件方案,开始在简单工业场景和特种应用场景落地,赛道逐步开启趋势行情,核心标的也由T链向国产链扩散。市场对机器人的“审美”从最早“看视频剪辑的运控能力”,如特斯拉、宇树,转向“关注机器人大脑能力”,如智元,再到“看一镜到底的应用效果”,华泰证券认为后续本体投资需关注在B端或C端应用的实况,投资范式或转向去伪存真,关注能实际卡位关键机器人客户并有实际订单的供应链、机器人业务布局边际变化大的个股,或是寻找预期较低的新方向,如产业新技术变化和国产大厂链条。

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