Orient Securities: Smart Ontology Vendors Are Making Intensive Releases, Industry Commercialization Breakthroughs Are Expected to Accelerate

The Zhitong Finance App learned that Orient Securities released a research report saying that 2026 is expected to be the first year of mass production of embodied intelligence. The bank sees that the model capabilities and scenario know-how of embodied intelligence manufacturers are improving at an accelerated pace, and this will drive breakthroughs in the commercialization process of the industry. The bank believes that intelligent manufacturers with active layout in various application scenarios and machine manufacturers with stronger model generalization capabilities are expected to gain a greater competitive advantage.

Orient Securities's main views are as follows:

Embodied smart body manufacturers are making intensive releases, and commercialization breakthroughs in the industry are expected to accelerate

The bank sees that 2026 is becoming the first year of mass production with empowered intelligence. The global humanoid robot market shipped more than 22,000 units in the first half of 2026, an increase of nearly 300% over the previous year. However, market investors are still very divided over the future of the industry. They are worried that the current physical intelligence is still in the “remote control toy” stage, making it difficult to achieve a broader market breakthrough, so it is difficult to sustain the increase in whole machine shipments. Judging from the latest marginal changes, the bank believes that the market's views on the application scenario exploration process of machine manufacturers are too pessimistic, and that the model capabilities and scenario know-how of manufacturers with intelligent components are improving at an accelerated pace, and this will drive breakthroughs in the commercialization process of the industry.

The ability to embody intelligent industry models is rapidly improving, which is expected to drive the expansion of potential application scenarios

The bank has seen a recent rapid improvement in the capabilities of the embodying intelligent industry model, which is expected to drive the expansion of potential application scenarios for embodied intelligence. Earlier, Yushu Technology announced a completely open source Unifolm-WLA-1.0 self-contained pedestal model. Yushu said that it uses about 2,500 hours of high-quality real machine data training. One model can drive the robot to complete 64 desktop operation and full-body operation tasks, and can also be adapted to parallel grippers and two types of dexterous hands at the same time. Figure recently released a new model, Helix 2.5. Figure pre-trained Helix 2.5 on the Global Human Behavior Data Index, then brought this model to 30 unseen home environments, and indicated that the model helped the robot achieve whole-body autonomous behavior with zero samples. Without any new data collection and environmental adaptation, the robot's zero-sample success rate skyrocketed from 9% to 56%. The bank believes Helix 2.5 has proven to some extent that embodied intelligence can learn from human experience and migrate this skill to new environments. In addition to this, the current personalized intelligence industry's attention to EGO data also continues to increase, and it is also expected to accelerate the improvement of the capabilities of the embodied intelligent industry model.

Know-how scenarios for embodying smart manufacturers continue to improve, which is expected to drive shipment growth

The bank sees that the current industrial application of embodied intelligence is in full bloom. The bank believes that the most important reason is that robot manufacturers' ability to understand scenario know-how continues to improve, and physical intelligence is gradually becoming part of improving social productivity, and this is expected to drive the continuous growth of its shipments. Recently, Qiyuan Robot, a consumer-grade smart brand owned by Shangwei Xincai, held a new product launch conference and officially launched the Qiyuan Q1 and Qiyuan T1 personal robots. Among them, the Qiyuan Q1 and Qiyuan T1 standard versions are all priced at 19999 yuan. The Qiyuan Q1 robot is 88 cm tall and can be folded into a backpack; Qiyuan T1 supports switching between wheel-foot figures and four-legged shapes. The bank saw these two robots for the family scene, which can actually meet the daily needs of some users in terms of family education, child companionship, travel escorts, etc., which is expected to drive the growth of their shipments. Looking ahead, the bank believes that with the improvement of the know-how of the facelift smart vendor scenario, the breakthrough in commercialization of embodying intelligence is expected to accelerate.

Risk Alerts

The risk of model development and data accumulation being slower than expected, the risk of unclear implementation of scenario requirements, the risk that the manufacturer's production falls short of expectations, the risk of national policy changes, and the risk of industry financing falling short of expectations