Open-source Securities: The robot sector in the fourth quarter is expected to kick off a big beta for the full year of 2026.

Open Source Securities research report pointed out that recently, there have been continuous updates on Tesla robots, and after the confirmation of the Gen3 model, Tesla will conduct large-scale manufacturing tests, with an expected shipment volume of 30,000 to 50,000 units. They may also simultaneously develop the Gen4 model for future large-scale production, while also making clear demands for supplier capacity building and overseas factory construction. At the same time, top robotics companies in China such as Ubtech and Techmote are accelerating capitalization in the fourth quarter, while major manufacturers such as Xiaomi, Sias, and Ideal are expected to launch new humanoid robots. A combination of high-spec industry policies in China can be expected. The domestic robot shipment volume is expected to see a 10-fold increase in 2026. It is believed that the robot sector in the fourth quarter has the potential to open up a path towards 2026 under the resonance of both domestic and international markets.