[Guosheng Machinery & Robotics] Be More Optimistic in August, Gradually Go Long on Three Camps and Three Main Lines

English summary

1. Unitree Technology's subscription on August 10, expected to land on the STAR Market as early as the end of this month. Unitree's listing fires the first shot, # the second half of the year will see the wave of domestic robot IPOs. 2. The index has entered a bottom range, and a rebound needs new main lines to lead. The robotics sector has fallen below the annual line since February 2026, with a pullback of 4-50%, but both industrial progress and capital actions will accelerate in the second half; 3. The data flywheel has started spinning, # Google DeepMind launched Gemini Robotics model, together with Tesla FSD and NVIDIA GR00T, becoming the three major world models in North America. Every 100 hours of robot data requires about 10-12w robots, and # large-scale data collection is the only way for embodied models to mature. Tesla, Boston Dynamics (nv), and the domestic three camps are gradually taking shape. Investment thinking: Three camps and three main lines: in the short term, prioritize the domestic chain; after the market unfolds, return to T-chain companies with real deliveries; at the same time, the hidden line of Boston Dynamics (nv) chain will also be a key focus of subsequent market. 1. ...