CSI Securities posits that Tesla stands at the forefront of the global 'physical AI' industry transformation. As a key segment of its business portfolio, humanoid robots leverage shared technologies with intelligent driving, such as the FSD end-to-end large model, creating a closed-loop system of 'data-algorithm-hardware' iteration. This week, investor sentiment in the humanoid robot sector has witnessed a notable uptick. This surge is partly fueled by anticipation surrounding Tesla's impending launch of the Optimus V3 in the first quarter, coupled with the unveiling of a definitive Gen3 mass production roadmap. Additionally, the industry is transitioning into a phase marked by tangible progress and substantive advancements.

CSI Securities observes that the sector is presently navigating through a bottom rebound phase. The market is keenly observing whether Tesla can establish a production line with the capacity to manufacture one million units by the end of 2026. However, any upward revisions in expectations will necessitate validation through the emergence of new catalysts or tangible strides in mass production efforts.