The core investment logic of the robotics sector goes far beyond simple concept hype.

From a valuation perspective, the market is still exploring how to reasonably price these assets. Taking Hengli Hydraulic as an example, its main business with a profit of 40 billion yuan is valued at a 25x PE ratio, plus a 50 billion yuan market cap for its robot screw business. Comparing to Zhejiang Rontai, which has a market cap of 30 billion yuan, its main business corresponds to a 15 billion yuan market cap (500 million profit * 30x PE), and its robot business is also valued at 15 billion yuan. Although the product lines differ, in terms of the value of joint modules, Rontai may not be weaker than Hengli, indicating a clear space for valuation recovery.

The biggest change in this round of robotics investment is that certainty is now being released from Tier 2 component suppliers rather than from integrators. Suppliers like Zhejiang Rontai, Weichuang Electric, Hengbo Co., Ltd., and Keda Li often have growth flexibility exceeding that of downstream integrators.

A deeper bullish logic still stems from a full optimism about Tesla's AI business by 2026. As the first company to deploy a GB300 million card cluster for large-scale training, Tesla's humanoid robots, Robotaxi, and intelligent driving sectors are all reaching critical milestones. The corresponding investment opportunities come not only from the robotics industry chain itself but also include AI computing power stocks with elastic growth potential and key players within the intelligent driving ecosystem.