机器人 / 具身智能 · A 股ROBOTICS · A-shares
人形机器人。A 股卡位：谐波减速器、力矩传感器、执行器、稀土永磁电机。Humanoid robots. A-share chokepoints: Harmonic reducers, Torque sensors, Actuators, REE magnet motors.
成品 / 应用End Product / App· 20 子节点sub-nodes机器人 / 具身智能ROBOTICSROBOTICS机器人 / 具身智能会走会抓的整机最吸睛 — 但真正的价值藏在关节里:谐波减速器、力矩传感器、执行器、无框电机,以及最上游的稀土永磁Full-system platforms that walk and grasp attract the most attention — but the real value lies in the joints: harmonic reducers, torque sensors, actuators, frameless motors, and the most upstream bottleneck of all: rare-earth permanent magnets
会走会抓的整机最吸睛 — 但真正的价值藏在关节里:谐波减速器、力矩传感器、执行器、无框电机,以及最上游的稀土永磁Full-system platforms that walk and grasp attract the most attention — but the real value lies in the joints: harmonic reducers, torque sensors, actuators, frameless motors, and the most upstream bottleneck of all: rare-earth permanent magnets
子系统Subsystem· 2 子节点sub-nodes整机系统集成Full-System IntegrationFull-System Integration整机系统集成把感知-决策-运动拼成一台能干活的机器人Integrating perception, decision-making, and motion into a functional robot
把感知-决策-运动拼成一台能干活的机器人Integrating perception, decision-making, and motion into a functional robot
把视觉-语言-动作打通的端到端模型 — 决定机器人是否真的会泛化干活,价值正从硬件迁移到这里End-to-end vision-language-action models — determines whether robots can truly generalize to new tasks; value is migrating from hardware to this layer
步态平衡、强化学习、Sim2Real 训练场Gait balance, reinforcement learning, and Sim-to-Real training environment
子系统Subsystem· 10 子节点sub-nodes关节模组 (执行单元)Joint Modules (Actuation Units)Joint Modules (Actuation Units)关节模组 (执行单元)人形机器人最贵也最稀缺的部分 — 一台 Optimus 约 40 个执行器,价值占整机大头The most expensive and scarce component in humanoid robots — one Optimus requires ~40 actuators, representing the largest share of total system value
人形机器人最贵也最稀缺的部分 — 一台 Optimus 约 40 个执行器,价值占整机大头The most expensive and scarce component in humanoid robots — one Optimus requires ~40 actuators, representing the largest share of total system value
部件Component· 2 子节点sub-nodes谐波 / RV 减速器(盲区) ●Harmonic / RV Reducers (blind spot) ●Harmonic / RV Reducers (blind spot) ●谐波 / RV 减速器(盲区) ●旋转关节里的精密减速核心 — 全球被日企哈默纳科/纳博特斯克垄断,国内绿的谐波切入,美股几乎没有纯标的Precision reduction core in rotary joints — globally dominated by Japanese firms Harmonic Drive and Nabtesco; China's Lide Harmonic is entering the market; almost no pure-play US-listed options
旋转关节里的精密减速核心 — 全球被日企哈默纳科/纳博特斯克垄断,国内绿的谐波切入,美股几乎没有纯标的Precision reduction core in rotary joints — globally dominated by Japanese firms Harmonic Drive and Nabtesco; China's Lide Harmonic is entering the market; almost no pure-play US-listed options
谐波减速器的弹性变形齿圈,需高强韧合金钢Elastically deforming ring gears in harmonic reducers; require high-strength, tough alloy steel
减速器与关节回转支撑,日企 THK/NSK 主导Rotary support for reducers and joints; dominated by Japanese firms THK and NSK
部件Component· 3 子节点sub-nodes执行器 / 无框力矩电机(盲区) ●Actuators / Frameless Torque Motors (blind spot) ●Actuators / Frameless Torque Motors (blind spot) ●执行器 / 无框力矩电机(盲区) ●关节驱动的动力源 — 无框直驱电机 + 行星滚柱丝杠(线性执行器),稀缺度仅次于减速器Power source for joint actuation — frameless direct-drive motors combined with planetary roller screws (linear actuators); scarcity second only to reducers
关节驱动的动力源 — 无框直驱电机 + 行星滚柱丝杠(线性执行器),稀缺度仅次于减速器Power source for joint actuation — frameless direct-drive motors combined with planetary roller screws (linear actuators); scarcity second only to reducers
把旋转转线性出力的执行核心,加工门槛极高Core mechanism converting rotary to linear force; extremely high manufacturing barrier
关节角度与速度闭环反馈Closed-loop feedback of joint angle and velocity
电机驱动与功率半导体(SiC/GaN MOSFET)Motor drive ICs and power semiconductors (SiC/GaN MOSFETs)
部件Component· 1 子节点sub-nodes力矩 / 触觉传感器(盲区) ●Torque / Tactile Sensors (blind spot) ●Torque / Tactile Sensors (blind spot) ●力矩 / 触觉传感器(盲区) ●灵巧手与关节要有'手感' — 六维力/力矩传感器和触觉皮肤是机器人能否抓鸡蛋的关键,极小众Dexterous hands and joints need 'touch' — six-axis force/torque sensors and tactile skin determine whether a robot can handle an egg; extremely niche market
灵巧手与关节要有'手感' — 六维力/力矩传感器和触觉皮肤是机器人能否抓鸡蛋的关键,极小众Dexterous hands and joints need 'touch' — six-axis force/torque sensors and tactile skin determine whether a robot can handle an egg; extremely niche market
力矩传感的敏感芯Sensing core of torque sensors
机器人的眼睛 — 摄像头、深度相机、激光雷达、IMU,具身导航与抓取的输入端The robot's eyes — cameras, depth cameras, LiDAR, and IMUs; input layer for embodied navigation and grasping
子系统Subsystem· 3 子节点sub-nodes稀土永磁 · 关键材料(盲区) ●Rare-Earth Permanent Magnets · Critical Materials (blind spot) ●Rare-Earth Permanent Magnets · Critical Materials (blind spot) ●稀土永磁 · 关键材料(盲区) ●无框电机的磁动力来自钕铁硼永磁 — 稀土供应链是整条价值链最上游、最被卡脖子的命门The magnetic force in frameless motors comes from NdFeB permanent magnets — the rare-earth supply chain is the most upstream and most vulnerable chokepoint in the entire value chain
无框电机的磁动力来自钕铁硼永磁 — 稀土供应链是整条价值链最上游、最被卡脖子的命门The magnetic force in frameless motors comes from NdFeB permanent magnets — the rare-earth supply chain is the most upstream and most vulnerable chokepoint in the entire value chain
部件Component· 1 子节点sub-nodes钕铁硼永磁体 (NdFeB)Neodymium Iron Boron Permanent Magnets (NdFeB)Neodymium Iron Boron Permanent Magnets (NdFeB)钕铁硼永磁体 (NdFeB)高性能永磁,无框力矩电机必需High-performance permanent magnets; essential for frameless torque motors
高性能永磁,无框力矩电机必需High-performance permanent magnets; essential for frameless torque motors
永磁的稀土元素来源,中国占全球加工主导Rare earth element sources for permanent magnets; China dominates global processing
外骨骼/连杆的铝合金、镁合金、碳纤维,影响整机重量与续航Aluminum alloy, magnesium alloy, and carbon fiber for exoskeletons and linkages; directly affects total weight and battery life
续航是人形机器人量产的硬约束 — 电芯与电源管理Battery life is the hard constraint for humanoid robot mass production — cell chemistry and power management
机器人本体的'小脑' — 边缘推理芯片与训练算力The robot's 'cerebellum' — edge inference chips and training compute
数据来源：沪深快照 2026-06-15（导入自原站）。akshare 实时刷新待接入。仅供研究 · 非投资建议。Source: Shanghai/Shenzhen snapshot 2026-06-15 (imported from origin). Live akshare refresh pending. Research only · not investment advice.