Research Report Insights | Zheshang Securities: Maintain Zhejiang Rontai's "Buy" Rating, Humanoid Robot Business Opens Growth Potential

Gelonghui, February 27 — Zhejiang Securities Research Report points out that as mass production approaches and applications explode in the humanoid robot industry, we are optimistic about Tesla’s new version of Optimus humanoid robot exceeding expectations and its strong driving effect on industry development. The supply chain should focus on Zhejiang Rongtai, which has a competitive advantage in securing key large clients. The company highly values its strategic layout and business expansion in humanoid robots, having acquired a 51% stake in high-end precision micro screw leader Diz Precision and a 15% stake in micro reducer transmission module leader Jinli Transmission. Its products are benchmarked against international leaders in niche fields. The company has established a wholly-owned subsidiary, Zhejiang Rongtai Intelligent Robot Co., Ltd., firmly entering emerging fields like humanoid robots. Currently, the company has business collaborations with many domestic and international humanoid robot manufacturers, with smooth progress in orders and project placements. Leveraging a solid foundation in new energy business, the company’s core components for humanoid robots are expected to quickly integrate into the supply chain of major automotive clients, significantly shortening certification cycles, and achieving effective positioning in areas like dexterous hands and joint actuators. The certainty and depth of cooperation continue to improve. Additionally, the company has built an A+H dual-capital platform to empower production capacity and R&D implementation, strengthening its global competitiveness. As a leader in the new energy mica material sector with a strong moat and high growth performance, the humanoid robot business opens up growth space, maintaining a “Buy” rating.