In recent years, the robotics industry has been booming, but many people still find it difficult to understand the various links in the industry chain. I have organized the core leading companies, covering the entire ecosystem from hardware to various key components.

**Hardware and System Layer**

Estun is among the top domestic manufacturers in the field of industrial robot bodies, possessing complete self-developed capabilities across the industry chain, which is quite rare. In the humanoid robot sector, Ubtech has already been listed on the Hong Kong Stock Exchange. The Walker series has mature technology, and its full-stack self-research capability is evident. In the short term, there are no particularly strong competitors.

**Key Components and Control**

The "heart" of a robot's joints is the reducer. Green Harmonic's harmonic reducers have broken the import monopoly, with a market share exceeding 60%. At the same time, dual-planet gear transmission performs well in the RV reducer field, mainly serving heavy-duty robot joints.

Servo systems are equivalent to the robot's "nervous system." Inovance Technology ranks first in market share in this area, leading in both industrial control and robotics fields. The actuator sector is led by Sanhua Intelligent Controls, which is a core supplier for Tesla and is transferring automotive thermal management and electromechanical technology to robot joints.

**Perception and Structure**

The "eyes" of robots are provided by 3D vision suppliers like Orbbec. This hardware forms the basis for environment perception and recognition. Top Group enters the robot joint market from automotive chassis and structural components, with outstanding cost control capabilities.

**Motion and Intelligence**

Yushutec is known for high-dynamic movements, with good cost control in the H1/G1 series. ZhiYuan Robotics is a representative of embodied intelligence, with deep integration of AI and robotics. Its Expedition series leads the industry in mass production delivery speed and commercialization.

These companies form a complete chain from hardware to control and perception, each with significant moats in their respective niche fields.