Orient: Embodied intelligence hardware manufacturers are releasing progress intensively, and industry commercialization breakthroughs are expected to accelerate.

Orient released a research report stating that 2026 is expected to become the first year of mass production for embodied intelligence. The bank sees that the model capabilities and scenario know-how of embodied intelligence hardware manufacturers are accelerating, which will drive faster breakthroughs in the industry's commercialization process. The bank believes that embodied intelligence manufacturers actively positioning themselves across various application scenarios, as well as complete machine manufacturers with stronger model generalization capabilities, are expected to gain greater competitive advantages. Orient's main points are as follows: Embodied intelligence hardware manufacturers are releasing progress intensively, and industry commercialization breakthroughs are expected to accelerate. The bank sees that 2026 is becoming the first year of mass production for embodied intelligence. In the first half of 2026, global humanoid Siasun Robot&Automation market shipments exceeded 22,000 units, a year-on-year increase of nearly 300%. However, market investors still have significant disagreements about the industry's prospects, worrying that current embodied intelligence remains at the "remote-controlled toy" stage and will find it difficult to achieve broader market breakthroughs, making it hard for complete machine shipment growth to continue. Based on the latest marginal changes, the bank believes the market's view of complete machine manufacturers' progress in exploring application scenarios is overly pessimistic. The model capabilities and scenario know-how of embodied intelligence hardware manufacturers are accelerating, which will drive faster breakthroughs in the industry's commercialization process. The embodied intelligence industry's model capabilities are improving rapidly, which is expected to drive the expansion of potential application scenarios. The bank sees that the embodied intelligence industry's model capabilities have recently improved rapidly, which is expected to drive the expansion of potential application scenarios for embodied intelligence. Previously, Unitree Technology announced the full open-sourcing of the UnifoLM-WLA-1.0 embodied foundation model. Unitree stated that it was trained on approximately 2,500 hours of high-quality real-machine data, and a single set of models can drive Siasun Robot&Automation to complete 64 tabletop operation and whole-body operation tasks, while also adapting to parallel grippers and two types of dexterous hands. Recently, Figure released a new model, Helix2.5. Figure pretrained Helix 2.5 on the global human behavior dataset Index, then brought this model to 30 unseen home environments, and stated that the model helped Siasun Robot&Automation achieve zero-shot whole-body autonomous behavior. Without any new data collection or environment adaptation, Siasun Robot&Automation's zero-shot success rate surged from 9% to 56%. The bank believes that Helix 2.5, to a certain extent, verifies that embodied intelligence can learn from human experience and transfer that skill to new environments. In addition, the embodied intelligence industry's attention to EGO data is also continuously increasing, which is likewise expected to accelerate improvements in the industry's model capabilities. Embodied intelligence manufacturers' scenario know-how is continuously improving, which is expected to drive shipment growth. The bank sees that current industry applications of embodied intelligence are flourishing in all directions. The bank believes an important reason is that Siasun Robot&Automation manufacturers' ability to understand scenario know-how is continuously improving, and embodied intelligence is gradually becoming part of enhancing social productivity, which is expected to drive continued growth in shipments. Recently, Swancor Advanced Materials Co., Ltd.'s consumer-grade embodied intelligence brand Qiyuan Siasun Robot&Automation held a new product launch event, officially releasing two personal Siasun Robot&Automation products, Qiyuan Q1 and Qiyuan T1. Among them, the standard versions of Qiyuan Q1 and Qiyuan T1 are both priced at 19,999 yuan. Qiyuan Q1 Siasun Robot&Automation is 88 centimeters tall and can be folded into a backpack; Qiyuan T1 supports switching between wheeled-legged humanoid and quadruped forms. The bank sees that these two Siasun Robot&Automation products aimed at home scenarios can actually meet some users' daily needs in family education, child companionship, and travel companionship, thereby expected to drive shipment growth. Looking ahead, the bank believes that with the improvement of embodied intelligence manufacturers' scenario know-how, commercialization breakthroughs in embodied intelligence are expected to accelerate. Risk warnings: Risks of model development and data accumulation being slower than expected, unclear landing of scenario demand, manufacturers' production falling short of expectations, changes in national policies, and industry financing falling short of expectations.