「White-Haired Stock God」 Serenity Calls for Green Again Harmonic: Very Attractive Long-Term

June 8 — The so-called "White-Haired Stock God" Serenity has once again reaffirmed a bullish outlook on Harmony Green, stating that the company holds significant technological and structural advantages within China’s robot and humanoid robot industrial chain, and stands as one of the leading component enterprises in the space. Unlike peers that focus heavily on low-margin assembly or low-value added components, Harmony Green demonstrates stronger competitiveness in high-tech, high-barrier segments such as core parts like reducers, and is expected to capture a larger portion of the value per humanoid robot unit. Analysts point out the company covers all key component systems, boasts a high technological threshold and scalable production capacity, enabling it to build cost-control advantages. Against the backdrop of the humanoid robot industry’s gradual transition to mass production, the relevant supply chain is set to differentiate: one segment is China’s low-cost mass-production supply chain, while the other is Western higher-cost supply chain systems. That said, this investment logic faces inherent risks including market competition and profit compression, such as the rise of other Chinese manufacturers in component niches and downward price pressure after mass production scales. If humanoid robots achieve widespread popularization over the next three to five years, their long-term market space could expand dramatically, making current valuations appear relatively modest from a forward-looking perspective.