CICC noted that giants like NVIDIA are actively advancing their humanoid robot development, and Zhiyuan and its partners are working together to advance the industry from "technical exploration" to "large-scale commercialization," demonstrating continued positive changes across the industry. CICC believes that interest in large models is expected to continue to grow, potentially creating opportunities in both model architecture design and the corresponding data collection. Implementation will continue to advance, and humanoid robots are expected to gradually achieve commercialization in specific scenarios. They will continue to iterate and upgrade in real-world applications, enabling the migration and diffusion of capabilities, further expanding their application scenarios. The supply chain continues to generate business opportunities, with both new product launches and new customer supply chain opportunities warranting attention. Potential catalysts such as the subsequent update and release of the Optimus III solution and the bidding process for domestic robots remain noteworthy. CICC remains optimistic about the overall sector outlook and recommends investments in sensors, dexterous hands, vertical applications, and domestic supply chains, which demonstrate promising industry trends and rapid growth.