Huatai Securities: Domestic robots are expected to appear on the Spring Festival Gala, igniting market enthusiasm.

Huatai Securities research report stated that the smart driving and robotics sectors performed strongly before and after the Spring Festival, especially with the four major domestic robotics companies appearing on the Spring Festival Gala, driving high order growth and capital attention, accelerating the commercialization of robotics. Looking ahead, in the robotics sector, the phenomenon of exposure on the Spring Festival Gala is pushing robotics from an "industry hot spot" to "public consumer awareness", with concentrated industry capital increasing, the imminent release of Tesla Gen3 may further catalyze the sector; in the smart driving sector, synchronous acceleration of regulations in China and the US, combined with expectations for the introduction of FSD in China, Robotaxi going overseas, and the commercialization of L4 in closed scenarios, highlights the mid-term value of the sector in terms of portfolio allocation.