Benefiting from the holding of the first Chinese Humanoid Robot Industry Conference held in Beijing Zhongguancun on April 9-10 and other humanoid robot conferences to promote the rapid development of the industry, as well as the intensive release of new developments such as unmanned driving and flying cars, the motor sector benefited from the rise, bucking the trend and strengthening, as of 11:12 am on the 9th, the motor sector rose 2.92%, and individual stocks: CLP Motor and Founder Motor all appeared up and down. Jiangnan Yifan rose more than 7%, and Dingzhi Technology, Tongda Power, Bafang Shares, Mingzhi Electric Appliances and Shenli Shares were among the top gainers.
Message plane
The "Implementation Opinions on Promoting the High-quality Development of the Intelligent Robot Industry in Hangzhou" (draft for comments) was released. By 2026, Hangzhou will cultivate more than 100 innovation and entrepreneurship teams in the field of intelligent robots, 15-20 specialized and new "little giant" enterprises, 2-3 industry head enterprises, 100 key components (software) of intelligent robots at the international advanced level, 50 new products (including no less than 3 humanoid robot products that have reached the industrialization level), 30 demonstration application scenarios, and build a municipal-level platform for the intelligent robot industry 2— 3, build 1 provincial innovation center for the intelligent robot industry, realize the industrial output value of the whole industrial chain of intelligent robots to exceed 50 billion yuan, and strive to create a national industrial platform for intelligent robots.
From April 9th to 10th, Beijing Zhongguancun will hold the first Chinese Humanoid Robot Industry Conference. With the breakthrough progress of artificial intelligence technology, the development momentum of humanoid robots is becoming stronger and stronger, and humanoid robots with smart "brains" and flexible "limbs" are becoming a hot track in the future industry. According to data, the humanoid robot market is expected to reach $154 billion by 2035. At present, a number of humanoid robot start-ups such as Unitree Technology, Leju Robot, Zhiyuan Robot, and Kepler Robot have initially emerged in China. Kaiyuan Securities said that in 2024 or the first year of mass production of humanoid robots, the convening of the humanoid robot industry conference is expected to promote the rapid development of the industry, and humanoid machine manufacturers are expected to enter the "fast lane" of development.
EHang's EH216-S has recently obtained a production license, making it the world's first fully certified eVTOL aircraft.
According to media reports, Toyota's global model intelligent driving solution will adopt the "Toyota + Huawei + Momenta" tripartite joint solution model. Previously, Musk posted on social media platforms that Tesla will release a robotaxi product for driverless taxis on August 8.
On April 2, the 2024 Chinese Humanoid Robot Ecological Conference was held in Shanghai. Focusing on the theme of "man-machine integration and intelligent manufacturing of the future", the conference conducted in-depth discussions on topics such as a new round of scientific and technological revolution and industrial transformation, the new trend of humanoid robots, robot technology research and development, and the construction of innovative industry-university-research platforms, analyzed the development trend of the industry, built an exchange and cooperation platform, and promoted the innovation and development of the mainland humanoid robot industry. At the meeting, the Chinese humanoid robot ecological consortium was officially established, the white paper on the development of the Chinese humanoid robot industry was officially released, and the Aishida humanoid robot application innovation research institute was officially unveiled. It is reported that the Chinese humanoid robot ecological consortium was led by the Intelligent Robot Branch of the China Mechatronics Technology Application Association. The "White Paper on the Development of Chinese Human Robot Industry" was compiled by China Mechatronics Technology Application Association and Kaiyuan Securities.
With the pace of mass production of the humanoid robot industry getting closer and closer, its core component motor has also attracted the attention of the market, and the dynamics of motor-related enterprises have also aroused the concern of many investors.
[Triple board CLP Motor: The company does not have any major matters that should be disclosed but not disclosed] CLP Motor disclosed the stock trading risk reminder announcement, saying that the company's stock price has risen significantly recently, and there may be a risk of decline after a large short-term increase. In 2023, the company will achieve a net profit of 43.207 million yuan, a decrease of 16.24% from 2022, and there is a certain risk of uncertainty in performance growth. As of the announcement date, the company's main business, production and operation and business environment have not changed significantly compared with the information disclosed in the previous period, and the company has no major matters that should be disclosed but not disclosed.
Zhiji Automobile issued an apology letter, saying that in the just-concluded "beyond all yearning" Zhiji L6 super smart car press conference, in the process of introducing the product power of Xiaomi SU7, which has been hotly discussed in the same level recently, due to the team's negligence in content review, a key parameter was incorrectly labeled, and the clarification is as follows: Xiaomi SU7 Max version uses SIC silicon carbide modules for the front and rear motors, which are consistent with the technology used by Zhiji L6 and are the top technical standards in the industry. We apologize for the negative impact on Xiaomi Auto due to the negligence of the internal audit, and sincerely apologize to all fans and users!
INVT said on the investor interactive platform on April 8 that the company currently has new energy vehicle motor controllers, auxiliary controllers, DC/DC converters, on-board chargers, charging piles, charging piles, charging piles: BK0700 1807.49 0.96% and other products and overall solutions. The company will continue to pay attention to national policies and market opportunities, and carry out business layout according to the actual situation of the market and the company.
Inovance Technology said on the investor interactive platform on April 8 that the core components of humanoid robot joints have the same origin as the technical foundation in the field of industrial automation, such as motion control, servo drive, motor technology, linear drive, etc. The company participated in the joint research and development of the V6s motor of Xiaomi Super Motor, and the related products were produced by the company after the designation.
Asked "whether the company has the research and development and production of axial flux motors, and if so, can it be used in new energy vehicles?" Jiangte Motor said on the investor interactive platform on April 8 that the company has developed the motor, but has not yet carried out mass production. This kind of motor can be used in new energy vehicles, and the company will always pay attention to market dynamics and actively grasp market opportunities. For the company's "company's development prospects in the field of micro motors and robot motors", Jiangte Motor said: servo motor is the core component of providing power for robots, the company's wholly-owned subsidiary MiG Motor is a company specializing in the production of servo motors, the output ranks in the forefront of China, its servo motor products have been widely used in automation, textiles, machine tools, logistics, new energy, Laser and other intelligent manufacturing industries, in the context of the country's practice of intelligent manufacturing, have broad development space, which is an important part of the company's layout of the intelligent electromechanical industry. MiG Motor's products in the field of robot motors include E/B series motors for robots, which have been widely used in welding, handling, palletizing and other industries.
Xinpeng Micro said on the investor interactive platform on April 8 that the company's current products have been applied to unmanned aerial vehicle systems, including charging and motor drive.
Yingluohua said on the investor interactive platform on April 7 that the company currently produces push rod motors for drone base stations.
Jinbei Electric said on the investor interactive platform on April 3 that the company's flat magnet wire products are widely used in the field of flat wire motors for new energy vehicles as supporting products, and have been supplied to many domestic and foreign vehicle companies including SAIC, GAC, Great Wall, Wei Xiaoli, and Inovance Technology, BorgWarner, Shanghai UMC, Shun Drive, Honeycomb Electric Drive and other drive motor companies.
Blue Ocean Huateng said on the investor interactive platform on April 2 that the company's "Design and Development of High-precision Motor Drive Controller with Collaborative Fault-tolerant Architecture for Heavy 202317N101 Electric Aircraft" project has been declared to the Shenzhen Science and Technology Innovation Commission as a major special project of science and technology, and has obtained the first government funding. The electric aircraft motor controller developed by the company can be applied to aircraft and flying cars.
Longsheng Technology said on the investor interactive platform on April 1 that at present, Longsheng New Energy, a wholly-owned subsidiary of the company, mainly provides stator and rotor products for new energy vehicle drive motors for relevant customers.
Topband said on the investor interactive platform on March 29 that the company's coreless motor products have been applied in batches in high-precision fields such as electric grippers and precision medical treatment of industrial robots, and have application opportunities in new fields such as humanoid robots.
Tongda Power said on the investor interactive platform on March 29 that the core of the new energy vehicle drive motor produced by the company is suitable for the field of auto parts.
Institutional Reviews
Kaiyuan Securities said that the convening of the humanoid robot industry conference will promote the rapid development of the industry, and humanoid machine manufacturers are expected to enter the "fast lane" of development, and 2024 is the first year of mass production of humanoid robots.
CITIC Securities pointed out that the development of low-altitude economy has entered a period of strategic opportunities, and with the acquisition of all the three certificates of EHang EH216-S, we believe that this will greatly enhance the confidence of the mainland in the development of low-altitude economy, and the mainland eVTOL industry chain has officially entered the mass production stage, which is expected to become the world's first country in the mass production of eVTOL. eVTOL is an important carrier of the low-altitude economy and is a new increment. On the whole, from a regional perspective, we recommend actively paying attention to Guangzhou, Shenzhen, Hefei and other regions with high-altitude economic development, and from the industrial chain, we recommend paying attention to three main lines: 1) eVTOL manufacturers, 2) infrastructure and operators, and 3) key component manufacturers in the industrial chain.
Huatai Securities said that on April 7, the Civil Aviation Administration of China issued a production license (PC) for the EH216-S unmanned aircraft system to EHang, which is the world's first manned eVTOL production license. Paying attention to the airworthiness certification policies and regulations of low-altitude aircraft and understanding the progress of aircraft certification have great reference value for grasping the development of low-altitude economy. We believe that the aircraft that obtains the airworthiness certificate first has a strong first-mover advantage.
CICC believes that in order to achieve generalization of the robot industry, humanoid robots with humanoid forms and artificial intelligence may be the ultimate answer. Compared with traditional robots, the hardware of humanoid robots is upgraded to high availability and low cost, and the current solutions are full of flowers, but they have not yet converged, and there are differences in the selection of actuator components, the type and number of sensor applications, and the software is upgraded to multiple perception & intelligent decision-making, and the AI large model is expected to drive the intelligent and rapid iteration of humanoid robots. Under the empowerment of AI, the humanoid robot industry may usher in development opportunities, and at the same time drive the demand for computing power, software and other fields in the upstream and downstream of the industrial chain.
Changjiang Securities released a research report pointing out that the hardware of humanoid robots is optimized in the direction of cost reduction, which will not change the general trend of industry development. On the one hand, it indicates that the industry has gradually entered the stage of mass production, and to reduce the cost of mass production and promote the better application and penetration of humanoid robots, which has gradually been valued by manufacturers. On the other hand, it may indicate that the current progress in operation control algorithms has the ability to further optimize the cost of the existing hardware architecture system. The industry's cost reduction trend will be beneficial to domestic assembly and parts manufacturers, domestic scale advantages are obvious, for the realization of mass production of parts and components have a good ability to reduce costs, can adapt to the global humanoid robot mass production release rhythm and cost reduction requirements. At present, brushless cogging motor as an alternative to the drive structure of dexterous hand coreless motor has become the direction of industry technical discussion. For example, compared with brushless cogging motor and coreless motor, brushless cogging motor can obtain greater torque with less power, and the cost is relatively advantageous, but it also faces certain limitations such as power loss, operating noise, and miniaturization. The coreless motor process is relatively complex and the value is higher, but the motor efficiency is higher (higher than that of the traditional core motor), the operation is stable and reliable, and it has been used in the fields of medical treatment and robotics, and it is also the main scheme of the dexterous hand of the current humanoid robot.
Goldman Sachs previously predicted that the humanoid robot market will reach $37.8 billion in 2035, a significant increase from the $6 billion forecast in 2022. In this regard, Goldman Sachs pointed out that technological advancement is a key factor driving the growth of the market, while the material cost of high-spec robots has fallen by about 40% in a year. As a result, Goldman Sachs expects humanoid robots to become profitable faster, with a fourfold increase in humanoid robot shipments to 1.4 million units compared to 2022.
Zheshang Securities Research Report believes that among the core components of humanoid robots, the value of planetary roller screws accounts for about 19%, and the current production capacity is mainly concentrated in Europe, with high prices from overseas manufacturers, strong demand for cost reduction, and obvious marginal progress of domestic manufacturers; At present, the Japanese manufacturers in the reducer industry dominate, and the key technologies of domestic manufacturers have been overcome, and there is still room for improvement in the accumulation of process experience; after the industrialization of humanoid robots matures, the total cost of torque, touch, vision and inertial navigation IMU accounts for about 22%.
The "high efficiency and light weight" of electric motors put forward new requirements for magnet wires
Huang Jian, deputy chief engineer and professor-level senior engineer of Shanghai Motor System Energy Conservation Engineering Technology Research Center, member of the National Rotating Machinery Standardization Technical Committee, explained the development status of the small and medium-sized motor industry at the 2023 (8th) SMM Electrical Materials Industry Annual Conference and Conductor Wire Industry Exhibition, and looked forward to the future development trend. From a series of national policies, it can be seen that the country has taken the promotion and application of high-efficiency motors as a long-term basic national policy. At present, the market share of high-efficiency motors in mainland China is still small, and there is still a lot of room for market development. The motor industry is still developing towards high efficiency and green in the near and medium term. According to the requirements of achieving the "double carbon" goal, the output of high-efficiency motors will continue to grow, and the demand for "copper", "iron" and "aluminum" will also grow steadily. The "high efficiency and light weight" of the motor put forward new requirements for further thinning of the thickness of the magnet wire paint film and further improving the conductivity.
Lin Xiyun, chief engineer of Xiandeng Hi-Tech Electric Co., Ltd., analyzed the development status and future trend of China's magnet wire industry at the 2023 (8th) SMM Electrical Materials Industry Annual Conference and Conductor and Wire Industry Exhibition. It introduces that the drive motor of new energy vehicles and ordinary industrial motors have several differences: 1. The space of passenger cars is limited, the motor volume is too large to occupy the payload space, and the weight is too heavy to affect the load capacity and mileage, so the volume of the drive motor is required to be as small as possible; 2. The new energy drive motor should be more efficient and energy-saving, so it is necessary to adopt PWM modulated inverter drive, and the frequency is getting higher and higher, and the insulation is required to have sufficient high-frequency pulse resistance; 3. It is very sensitive to line loss, and the driving voltage is constantly improving, which requires the insulation to have sufficient high-voltage resistance; 4. The operating environment of the automobile is constantly changing, and it is always in the midst of additional vibration, damp heat, high and low temperature impact, and often overload, which requires the insulation to have excellent high temperature resistance and overload resistance. The above are the main characteristics of new energy drive motors, and the design of different structures may bring special requirements for motor insulation, such as oil resistance, water resistance, welding resistance, etc.
Wang Kaifeng, Director of Customer Service of Baoshan Iron & Steel Co., Ltd., shared the application of Baosteel silicon steel in the field of new energy vehicles and high-efficiency motors at the 2023 SMM 3rd Annual Motor Conference 2023 and the (5th) Rare Earth Permanent Magnet Industry Forum - Industrial Motor Forum. He said that the global energy structure transformation, electrification trends and the national dual-carbon strategy have driven the rapid growth of demand for energy-saving products and raw materials. The net growth of the high-grade market represented by new energy vehicles and the structurally optimized high-grade market represented by IE5 motors, new hydropower, and energy-efficient household appliances are very considerable, and the overall demand for non-oriented silicon steel in 2025 is expected to increase by about 8.6% on the basis of 2022. When introducing the contribution of silicon steel to the "double carbon" goal, it mentioned that whether it is hydropower, nuclear power or wind power and other power generation fields, or new energy vehicles, high-efficiency motors and other consumption fields, non-oriented silicon steel with lower loss and higher efficiency has an irreplaceable role in green transformation and development. Silicon steel is a key functional material for power equipment. Accounting for more than 95% of the total consumption of soft magnetic materials, it is the cornerstone of the green and low-carbon development of the power industry.
Yang Jiawen, an SMM rare earth analyst, analyzed the application and development prospects of rare earth materials in the new energy industry at the 2023 SMM 3rd Motor Annual Conference and (5th) Rare Earth Permanent Magnet Industry Forum - New Energy Motor Forum hosted by SMM. Rare earth materials have become an indispensable part of the new energy field due to their excellent electrical, magnetic, optical and chemical properties. It lists some of the main applications of rare earth materials in the new energy industry: such as solar energy, hydrogen storage alloys, permanent magnet materials, etc. And its application fields are introduced in detail. Among them, permanent magnet materials: the application of rare earth permanent magnet materials can improve the efficiency of converting mechanical energy into electrical energy, and ensure the efficient operation of generators, electric vehicles and other equipment.