CICC's research report pointed out that robots are currently undergoing an iterative process in terms of technology, mass production, and applications. The industry trend has not changed. Robots are still the intersection of this round of technological and AI changes, and pullbacks are still buying opportunities. We have already seen that the application of robots is booming, and from the perspective of industrial margins it will be the direction with the largest growth this year. Focus on three types of companies: 1) Leading body manufacturers, which will see a significant Matthew effect due to their leading technology and cost reduction in scale; 2) Companies that have the ability to continuously reduce costs at the component level (especially dexterous hands, electronic skin, lightweight, electronic control, and large models). Companies whose technologies can bring breakthroughs in robot performance, such as visual and tactile electronic skin; 3) Companies that have a variety of application scenarios in themselves. Analogous to AI, the entrance will have lasting value, such as factories, mines, etc.