Guotai Haitong Securities released a research report stating that Chinese humanoid robot companies delivered an impressive performance at CES 2026. The humanoid robot industry is currently in the early stages of commercialization, and it is crucial to pay attention to the impact of marginal changes in the industry on high-quality companies within both domestic and international supply chains. The firm believes that recent progress by humanoid robot enterprises, both in China and abroad, at the industrial level and in capital markets, indicates a potential for synergy between the domestic and overseas humanoid robot industries. This could lead to an acceleration of the global commercialization process for humanoid robots. The main views of Guotai Haitong are as follows:
Chinese humanoid robot companies stood out at CES 2026. The world's most influential technology event, the International Consumer Electronics Show (CES) 2026, often dubbed the "Spring Festival Gala of Technology," commenced on January 6, local time, in Las Vegas, USA. This year's CES featured over 4,000 exhibiting companies, with Chinese participants accounting for nearly a quarter. The humanoid robot section was particularly notable, with at least 28 Chinese companies involved, representing more than half of the exhibitors. From core components to complete applications, and from functional demonstrations to real-world scenario implementation, these companies comprehensively showcased China's technological prowess in the field. Among them, Zhiyuan Robot made its US debut by fully displaying its entire product line, including star products like the Lingxi X2, Yuanzheng A2, and Jingling G2. The ring set up by Unitree Robotics remained a focal point, with its G1 humanoid robot performing intense boxing matches live. Zhongqing Robot brought its full-size general-purpose humanoid robot, the T800, which could interact with the audience on-site, while its star product, the PM01, demonstrated multiple complex maneuvers.
Several overseas companies also showcased their advancements in humanoid robotics at CES 2026. LG unveiled its first humanoid robot, CLOiD, primarily designed for home environments. It can collaborate with smart home devices to complete tasks such as helping users with laundry, pouring water, and toasting bread. Boston Dynamics, a subsidiary of Hyundai Motor, publicly demonstrated its new all-electric Atlas for the first time. Boasting 56 degrees of freedom, the robot's head and torso can rotate 360 degrees, and it has a battery life of up to 4 hours, with the capability to autonomously change its battery within 3 minutes. In a demonstration video, Atlas was shown effortlessly lifting a car door panel overhead to perform automotive assembly tasks. Boston Dynamics also announced a collaboration with Google DeepMind to integrate the Gemini Robotics VLA model into Atlas in the coming months. Furthermore, Atlas is already working with Hyundai Motor, with plans for delivery scheduled for 2026.
Xinjian Transmission has initiated its IPO辅导 (guidance process). Information from the China Securities Regulatory Commission (CSRC) website indicates that Hangzhou Xinjian Mechanical Transmission Co., Ltd. (Xinjian Transmission) commenced its IPO辅导 work on January 9, with CITIC Securities acting as its辅导 institution. The IPO辅导 filing report shows that Xinjian Transmission was established in 1999 and is a C34 general equipment manufacturer. It is 29.40% owned by Shanghai Xinjian Asset Management Co., Ltd. The辅导 personnel plan to conduct a comprehensive assessment of the company's qualifications for listing between April and May of this year and will assist Xinjian Transmission in preparing the application documents for an initial public offering in accordance with relevant regulations. According to its official website, Xinjian Transmission is a "Little Giant" enterprise specializing in new and unique technologies. It focuses on the R&D and production of related product series, including roll-formed worm gears, seat horizontal actuators, planetary roller screws - linear electric drive joints, and rotary electric drive joints. As reported by China Securities Journal, Xinjian Transmission is a core component supplier for Tesla's humanoid robot, and its products were applied in Tesla's Optimus robot as early as 2022.
Risk warnings: Industry development may progress slower than expected; implementation of domestic policies may fall short of expectations; risks associated with changes in technology roadmaps.
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