Author: Serenity

I truly believe that LeaderDrive (688017) is an outstanding leading enterprise in the Chinese robot industry.

I have conducted extensive research on other robot-related stocks / $TSLA Optimus suppliers, but LeaderDrive is extremely unique.

Compared to other companies engaged in low-profit assembly or low-value components, the latter also faces higher risks of design obsolescence.

Western institutions such as Goldman Sachs have repeatedly highlighted LeaderDrive:

-> As a company with high technical barriers (e.g., harmonic gear reducers).

-> And very likely capturing the costs of high-value components like planetary roller screws produced for each humanoid robot.

To put it simply, investing in LeaderDrive gives you coverage of:

1. A variety of different components with high entry barriers

2. The high BOM of each humanoid robot if they are combined

3. Low-cost mass production capability.

For every humanoid robot produced.

Before making your own decisions, please research this topic; but in the long run, if you believe in the growth of the humanoid robot industry: I find LeaderDrive (688017) very attractive.

The risks mainly come from other emerging Chinese companies capturing market share of different individual components.

And the profit from mass production declining over time; much like how $VPG sensors dropped from $750 in the early pre-production stage to $150.

But overall, I do not believe that companies outside of China, like Harmonic Drive (6324), can achieve the same mass production costs, which is why $TSLA Optimus is establishing an extensive supply chain from China.

Therefore, we are likely to see supply chain differentiation: low-cost mass-produced humanoid robots priced at $15,000-$20,000 from the Chinese supply chain, and high-cost humanoid robots from the Western supply chain.

Once again, if you look at the current price-to-earnings ratio and think it is high; many misunderstandings come from not seeing future growth:

There is currently no mass production. AGIbot recently achieved a production milestone of 10,000 units in March.

However, in the next 3-5 years, the TAM of the humanoid robot/robot industry predicted by Elon Musk and others is very large, if he anticipates the production of millions of humanoid robots each year.

Therefore, my expectation is that the current market value of $10.65 billion will seem very small in retrospect when LeaderDrive captures overall robot market share.

So I believe that arguments like this should not be measured with a short-term time frame (or people should not actively trade stocks like this).

On the contrary, this is more like a long-term investment philosophy about how this company will capture substantial shares in the exponentially growing overall humanoid robot market in the coming years.

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