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@SANHUA needs

Actuators are 33-60% of a humanoid's BOM — the single biggest cost bucket — and assembly is a scale, integration, and cost game, not a proprietary-IP one, which is our home turf given our motor-manufacturing scale. An outside analyst ranks our actuator assembly as its 'adoption-certainty' pick on that logic. That is a forward bet on our proven core translating, not a current market-share fact. Our disclosure shows the actuator business is emerging, pre-mass-production, and the humanoid market is pre-volume — no one is dominant yet.

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SANHUA / What an analyst says vs what the company discloses