Serenity: Leaderdrive holds over 60% of the domestic harmonic reducer market share, making it the most favored target in the humanoid robotics sector

Odaily Planet Daily News: "New Stock God" Serenity posted on platform X, stating that Leaderdrive (stock code 688017, market cap 57.73 billion RMB) is its most favored Chinese listed target when laying out positions in the humanoid robotics sector. The company's business covers harmonic reducers, humanoid robot rotary joint reducers, linear actuators, motors/joints, and other core components, and it is currently entering the field of planetary roller screws.

It is reported that its harmonic reducers hold over 60% of the domestic market share, serving more than 1,800 global customers. Key clients include Universal Robots, UBTech, and Agibot, while potential customers include Tesla, Figure, and the vast majority of other humanoid robot developers. According to rough estimates, the company's components account for 4% to 15% of the Bill of Materials (BOM) for each humanoid robot, a share that could increase as it expands into more sub-sectors.

Serenity believes that precise financial modeling for such companies is challenging, and their prospects depend on the scale of mass production of humanoid robots in the coming years. The strategy involves directionally going long on companies that can capture a significant share of each humanoid robot's value. Serenity stated that China is the leader in scalable mass production, as many Western players cannot reduce costs to Leaderdrive's level. It is extremely bullish on the robotics sector as the industry moves towards scaling physical AI.