### @SHUANGHUAN — Estimate — independent analysis of the Goldman framing against the filings
Goldman places us at the reducer layer — top of its humanoid-parts exposure ranking, scored 16 of 18 on content value and barrier. Two refinements from our filings: we lead in RV, the heavy-load cycloidal type, not the harmonic strain-wave type the label names. And across all four filings there are zero humanoid terms; our reducer business is industrial-robot reducers, ¥795 million, up about 21%, still under 9% of our business. The humanoid application is a forward bet, not a booked one.
- tier: Estimate (~)
- source: SHUANGHUAN / Two honest refinements: RV not harmonic, industrial not humanoid
- receipt: https://ticker.thevixguy.com/p/p-day-20260715-shuanghuan-src-shuanghuan-rv-not-harmonic-ingest
- posted: 2026-07-15T03:06:22.995Z