In China's humanoid robot sector, a stark contrast has emerged: while manufacturers of complete humanoid robots are generally struggling with losses—largely due to their pursuit of low-price, high-volume strategies—only Unitree Technology has managed to achieve profitability. Meanwhile, upstream enterprises in the industrial chain have taken the lead in generating profits. Among these upstream components, the dexterous hand stands out as a core hardware element of humanoid robots, commanding the highest value. Material costs for dexterous hands account for approximately 17%-18% of the total.

Dexterous hands are characterized by high technical barriers and a lack of a unified technological path. Given their frequent use, they also possess consumable attributes, ensuring sustained demand. Relevant companies in this field have already demonstrated profitability, attracting significant attention from the capital market, as evidenced by a notable increase in financing. Industry insiders view dexterous hands as pivotal to embodied intelligence, with technological breakthroughs in this area being central to unlocking the full application potential of humanoid robots. Looking ahead, competition within the industry is expected to revolve around technological paths, mass production capabilities, and other key factors. However, some experts also express concerns regarding the shortcomings of humanoid robots in areas such as tactile data, suggesting that investments in this sector may still face risks.