According to CITIC Securities' analysis, the current market risk appetite and investor sentiment are notably subdued. It is anticipated that by mid-October 2026, as third-quarter reports are progressively released, the A-share market could undergo a stylistic shift towards thematic investment trends. From a strategic standpoint, the robotics theme is now poised for takeoff, with factors such as liquidity, valuation, policy support, technological advancements, and leading companies acting as catalysts. These elements align with the characteristics observed during the past seven robotics market rallies. Concurrently, breakthroughs in GPT-6 and Gemini 4 in areas like robot planning, spatial perception, and Real-to-Sim modeling are paving the way for more extensive integration of general-purpose large models into robot development and training processes.

On the hardware side, the mass production efforts of domestic robot manufacturers and Optimus are gaining momentum. Tesla is expected to unveil Optimus V3 in the fourth quarter, which will likely drive the humanoid robotics industry into a new era of growth. Given these developments, CITIC Securities maintains a positive outlook on the mass production and application prospects of the robotics industry and recommends keeping a close eye on core manufacturers within the industrial chain.