Robot industry: the next hot field in the AI ​​era, one of the nine major industries in the future!

2023 can be said to be a big year for technology investment. In the first half of the year, the artificial intelligence sector set off a boom in the A-share market. Since the second half of the year, the Ministry of Industry and Information Technology has announced the "Guiding Opinions on the Innovation and Development of Humanoid Robots", proposing that humanoid robots integrating artificial intelligence, high-end manufacturing, new materials and other advanced technologies are expected to become disruptive products after computers and smartphones, which will profoundly change The perspective of human production and lifestyle reshaping the global industrial development pattern. It is believed that intelligent robot products will be more and more widely used in our lives and work scenarios in the future. In order to help investors capture investment opportunities in the robotics industry more efficiently and conveniently, Tianhong Fund launched the Tianhong CSI Robot ETF Initiation Feeder Fund (014881) in June 2023. The fund tracks the index CSI Robot Index (code: H30590. CSI).

Liu Xiaoming is a professional with a bachelor's degree in chemistry and economics from Peking University and a master's degree in operations research from Columbia University. He has 7 years of research experience in the field of quantitative investment and 4 years of experience as a fund manager. He has worked in companies such as CCB Asset Management, JiZhi Investment and PICC Asset Management, serving as a researcher, investment manager and fund manager. He has long been committed to quantitative investment work such as stock selection strategy research and development and risk model construction. In April 2020, he joined Tianhong Fund and served as the fund manager of the Index and Quantitative Investment Department

The government continues to introduce favorable policies

The booming development trend of the intelligent robot industry is becoming more and more obvious

Since the beginning of this year, with the launch of the Tesla Optimus prototype, the global robot market has experienced rapid growth, and many investors have begun to pay attention to whether the robot industry is worth investing in.

To answer this question, you must first understand what the robotics industry is? Generally speaking, a robot is an intelligent machine that can work semi-automatically or fully autonomously. Among them, industrial robots were the first to be widely used in the industrial field due to their ability to replace human labor in various complex environments. In recent years, the application and investment value of various types of robots that serve humans, represented by service robots and bionic robots, are gradually becoming more prominent.

From the demand side, the robot market demand is increasingly strong, and the industry scale continues to grow. According to statistics from Shangpu Consulting Group, the global robot market is expected to exceed US$65 billion in 2023. Among them, China's robot market will continue to grow steadily and is expected to reach US$52.7 billion in 2023, of which the industrial robot market accounts for about 41%, the service robot market accounts for about 41%, and the special robot market accounts for about 18%. Looking into the future, according to iiMedia Consulting’s calculations, the global robot market size is expected to be close to 600 billion yuan in 2027, with the annual compound growth rate of the market size being approximately 6.6%.

From the perspective of policy support, national policies provide strong support for the development of the industrial robot industry. At the end of 2021, 15 departments including the Ministry of Industry and Information Technology and the National Development and Reform Commission jointly issued the "14th Five-Year Plan for Robot Industry Development", proposing that by 2025, the average annual growth rate of my country's robot industry operating income will exceed 20%. Form a group of leading enterprises with international competitiveness and a large number of specialized and new "little giant" enterprises with strong innovation capabilities and good growth potential, and build 3 to 5 industrial clusters with international influence. By 2035, the comprehensive strength of my country's robot industry will reach the international leading level.

From the perspective of international competitiveness, my country's robot industry is growing from large to strong, and the localization rate continues to increase. Although our country is currently only a major consumer of robots, it is still not a strong robot manufacturing country. However, China's robot industry is working hard to improve and even gradually catch up. For example, in the field of industrial robots, my country has successively overcome the "stuck neck" problem in core components such as reducers, controllers, and servo motors. In the field of service robots, my country's intelligent related technologies are already in the first echelon and have reached the world's first-class level. In the field of special robots, our country is currently in the introduction stage of large-scale applications, and general-purpose standardized products developed to meet the common needs of complex scenarios have partially achieved mass production.

From a comprehensive point of view, my country's robot industry is developing rapidly, various application scenarios are accelerating the implementation, the localization rate of core components is also constantly increasing, and products such as industrial, service and special robots are competing in the international competition. The strength of China is constantly increasing, and at the same time, excellent robot companies are also emerging one after another, which shows that China’s robot industry has great investment value

Focus on industry leaders

The CSI Robot Index has obvious advantages

As an index sample that reflects the overall performance of robot-related securities among listed companies, the CSI Robot Index has a balanced industry distribution, precise positioning of constituent stocks, and obvious growth styles. Overall, the CSI Robot Index focuses on industry leaders, with obvious advantages and worthy of investors' attention.

In terms of industry distribution, the constituent stocks of the CSI Robot Index mainly focus on the entire industry chain of industrial and service robots, and the industry distribution is relatively balanced. As of October 23, 2023, according to the Shenwan first-level industry classification, the top three industries in the CSI Robot Index are mechanical equipment (49.2%), power equipment (22.5%) and computers (16.5%). Total The proportion is 88.2%.

In terms of constituent stocks, the CSI Robot Index accurately locates leading stocks in multiple robotics segment industry chains. As of November 28, 2023, the sum of the weights of the TOP10 constituents of the CSI Robot Index is 51.29%, and the shareholding concentration is relatively high.

In terms of market capitalization distribution, the constituent stocks of the CSI Robot Index are mainly small and medium-sized market capitalization stocks, focusing on specialization, specialization, and innovation, with obvious growth styles. As of October 23, 2023, the total market value of the index constituent stocks reached 1,266.9 billion yuan, of which a total of 56 stocks have a market value of less than 10 billion, with obvious growth styles.

Judging from historical performance, the CSI Robot Index has performed well in the long term. According to data from the official website of the China Securities Index, as of November 28, the annualized return rate of the China Securities Robot Index in the past five years was 7.86%, which has good long-term performance. Since the beginning of this year, the CSI Robot Index has increased by 10.06%, which is significantly higher than the excess return of the three major stock indexes.

Finally, the Tianhong CSI Robot ETF is launched to connect with the fund manager Tianhong Fund, which is worthy of the trust of investors. Tianhong Fund was established on November 8, 2004. It is one of the national public fund management companies approved by the China Securities Regulatory Commission. Regarding index funds, Tianhong Fund established the Index and Quantitative Investment Department in 2019 in order to support the development of index investment and quantitative investment business. For more than ten years, Tianhong Fund has been deeply involved in the public fund industry, constantly innovating and creating value for customers, and has been widely recognized by investors.

Clear enablers

The robot industry investment prospects are promising

Currently, China’s economy is in the bottom stage of recovery. Recently, the latest data released by the National Bureau of Statistics showed that the gross domestic product (GDP) in the first three quarters was 91.3027 billion yuan, a year-on-year increase of 5.2%. The manufacturing PMI has continued to improve since May, with an overall upward trend.

The robot sector has cyclical attributes and growth attributes. With the promotion of manufacturing repairs, the penetration rate of industrial robots is expected to increase, which will bring about cyclical repairs. The growth attributes depend on the industrialization process such as humanoid robots. It is expected that 2024 will be a critical period for the implementation of industrialization

According to Liu Xiaoming’s point of view, looking to the future, China’s robot industry investment prospects are promising. This is due to the combined effect of long-term driving factors such as the aging of the population and rising labor costs, the transformation and upgrading of the manufacturing industry and the increase in demand for automation, as well as the continuous verification of domestic substitution logic and the industrialization of humanoid robots

Market risk, the investment need to be cautious. Index funds have tracking errors. Please read the product legal documents carefully before purchasing a fund and choose a product that suits you based on your own risk tolerance.

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