人形机器人崛起行业更新：与中国人形机器人专家线上会议

IndustryRise of Humanoid Robots Expert call (IV): Chinese humanoid robotexpert (in English) on 15 July Iris Zheng, CFAResearch Analyst+852-2203-5884 Join us for a call to discuss the humanoid robot market with a Chinese humanoidrobot expert. The meeting will be held in English. Edison YuResearch Analyst+1-212-250-7263 Date and timeWednesday, 15 July 2026 Laura LiResearch Associate+1-212-250-2266 9am EST/ 2pm UKT/ 3pm CET / 9pm HKT Registration linkClick here to sign up in advance Winnie DongResearch Analyst+1-212-250-5121 Topics nCommercialisation of humanoid robots in ChinanReadinessand real-life success rates of humanoids in factories,warehouses, commercial settings, and householdsnEvolution of hardware componentsnLatest development of large modelsnData availability for humanoid robotsnExpert's opinions on top humanoid robot manufacturers Format Fireside chart + audience Q&A Speaker bio The expert is the co-founder of a humanoid robot start-up in China. Before that, hehas held senior research roles at UBTECH and AGIBOT. Links to Deutsche Bank humanoid robot sector reportsHumanoid Robot peer comparison:Comparing Unitree, UBTECH, DEEP, nDobot and Leju: Opportunities and risks coexist - 15 June 2026nHumanoid Robot sector report (III):Six visions for 2026 –Scaling, iterating 8 July 2026ManufacturingRise of Humanoid Robots and diversifying - 6 Mar 2026 nHumanoid Robot sector report (II):Go big and go home – 14 Feb 2025nHumanoid Robot sector report (I):Stay selective; Humanoid robots liftgrowth prospects -23 July 2024 Link to Deutsche Bank humanoid robot expert call reportsnRise of Humanoid Robots (III):Takeaways from expert call with Humanoid- 4 Dec 2025nRise of Humanoid Robots (II):Takeaways from an expert at a leadingChinese humanoid robot start-up - 17 Jun 2025nRise of Humanoid Robots (I):Takeaways from expert call with AgilityRobotics-20 Feb 2025 Appendix 1 Important Disclosures *Other information available upon request *Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from localexchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies,and other sources. For disclosures pertaining to recommendations or estimates made on securities other than the primarysubject of this research, please see the most recently published company report or visit our global disclosure look-up page onour website at https://research.db.com/Research/Disclosures/EquityResearchDisclosures. Aside from within this report,important risk and conflict disclosures can also be found at https://research.db.com/Research/Disclosures/Disclaimer.Investors are strongly encouraged to review this information before investing. Analyst Certification The views expressed in this report accurately reflect the personal views of the undersigned lead analyst about the subjectissuers and the securities of those issuers. In addition, the undersigned lead analyst has not and will not receive anycompensation for providing a specific recommendation or view in this report. Iris Zheng, Edison Yu. 8 July 2026ManufacturingRise of Humanoid Robots Equity Rating and Dispersion Key The Equity Rating Dispersion Chart depicts the following: The proportion of recommendations that are rated "buy", "sell" and "hold" over the previous 12 months. This is shown forsecurities issued in the stated region e.g. "Europe Universe". See rating definitions below. This is represented by the"Companies Covered" bars in the chart. The percentage value displayed above the bar is the proportion as a percentage.E.g. 50% above the “buy” / “Companies Covered” bar means that 50% of DB’s equity research covered companies overthe past 12 months have a “buy” rating. Next to each of the three respective bars showing the proportion of "buy", "sell" and "hold" recommendations we providetwo additional bars to show: - The proportion of "buy", "sell" or "hold recommendations where Deutsche Bank and or/Affiliates provided MIFIDInvestment or Ancillary Services in the past 12 months. This is represented in the "MIFID Investment and AncillaryServices" bar. The percentage value displayed above the bar shows the proportion of Companies Covered with the givenrating where DB has also provided MIFID Investment and Ancillary Services in the past 12 months. E.g. 50% above the“Cos. w/ MIFID Investment and Ancillary Services” bar means 50% of the Companies Covered with the rating stated havealso received MIFID Investment and Ancillary Services from DB. - The proportion of "buy" (or "sell" or "hold) recommendations where Deutsche Bank and or/Affiliates has providedInvestment Banking services in the past 12 months for which it has received compensation. The percentage valuedisplayed above the bar shows the proportion of Companies Covered with the stated rating where DB has also providedInvestment Banking services in the past 12 months. E.g. 50% above the “Cos. w/ In