SMM, August 3 News: On August 3 early trading, the broader market was under pressure and consolidated, while high-end manufacturing segments moved independently. As of the close on August 3, the Motor II sector rose 2.67%, with individual stocks such as Jiangxi Special Electric Motor hitting the daily limit up, and Wolong Electric Group, Yifan Transmission, Bafang Electric, Keli Motor, MOONS', and Jiangsu Leili leading the gains. The strength in motor sector futures was supported by multiple drivers: first, Unitree Robotics is about to launch its subscription and Tesla raised its long-term capacity target for humanoid robots, heating up expectations for mass production of joint servo motors; second, the rare earth permanent magnet sector rose simultaneously, with upstream permanent magnetic material prices increasing, boosting profit expectations for high-performance motors; third, the replacement policy for IE4/IE5 high-efficiency motors continues to be implemented, opening up room for stock replacement of traditional industrial motors; combined with stockpiling expectations from downstream automakers and equipment manufacturers in mid-to-late August, some market funds favoured the motor sector, driving the collective rise. Market News [State Council Executive Meeting Decides to Approve Four Nuclear Power Projects Including Liaoning Zhuanghe Phase I] The State Council Executive Meeting decided to approve four nuclear power projects including Liaoning Zhuanghe Phase I. The meeting pointed out that nuclear power units should be built and operated to the highest global safety standards, with strengthened full-chain and all-domain safety oversight to ensure nuclear safety is absolutely risk-free. [China Approved 8 New Nuclear Power Units, with Total Project Investment Exceeding 170 Billion Yuan] In 2026, China opened the floodgates for new nuclear project approvals. According to CCTV News on July 31, the State Council Executive Meeting held that day decided to approve four nuclear power projects including Liaoning Zhuanghe Phase I. It is reported that the new projects approved at this meeting include Zhejiang Jinqimen Nuclear Power Plant Phase II (Units 3 & 4), Guangdong Taipingling Nuclear Power Plant Phase III (Units 5 & 6), Liaoning Zhuanghe Nuclear Power Plant Phase I (Units 1 & 2), and Shandong Laiyang Nuclear Power Plant Phase I (Units 1 & 2), totaling 8 new units. Nuclear power projects have historically been an important boost to expanding effective investment, and it is estimated that the total investment of these new projects will exceed 170 billion yuan. (Jin Shi Data) [State Administration for Market Regulation: '15th Five-Year Plan' to Foresightfully Deploy High-Level Detection Platforms for Strategic Emerging Industries such as Integrated Circuits, New Energy, Biomedicine, and Humanoid Robots] The State Administration for Market Regulation held a press conference on July 21 to introduce the development achievements of China's inspection and testing service industry during the '14th Five-Year Plan' period. During the '15th Five-Year Plan' period, the administration will implement the Innovation Pilot for Inspection Testing to Promote Industrial Optimization and Upgrading, and the Three-Year Action for National Quality Inspection Center Quality Improvement and Optimization, foresightfully deploying high-level detection platforms for strategic emerging industries such as integrated circuits, new energy, biomedicine, and humanoid robots, and using digital transformation to drive service model innovation. Strengthen deep collaboration with industry chain leaders and research institutes, jointly tackle a number of key core technologies, and promote the upgrading of inspection and testing from a single service to "industry chain synergy," shifting from being a "post-event quality gatekeeper" to a "full-process innovation enabler." Coordinate the capacity building for green and low-carbon, food safety, and high-risk industrial product testing, and build a solid quality defense line for industrial development and people's livelihood safety. [China's robot industry chain sees explosive orders; a robot company receives over 10,000 orders in a month] Currently, publicly listed firms are gradually releasing their semi-annual reports and earnings forecasts. In H1 this year, the robot sector reported widespread positive earnings. From core parts to complete machine integration, from motion control to AI computing hardware, the robot industry chain is shifting from "concept-driven catalysts" to a new phase of "order volume growth and profit realization." MIIT data shows that from January to May, the revenue of China's above-designated-size robot enterprises exceeded 90 billion yuan, up 26.9% YoY, with an average annual growth rate of over 20% over the past five years. A robot company just launched a new humanoid robot product at the end of last month and received over 10,000 orders in less than a month. Another company's head stated that their frameless motor is a core component for humanoid robot joint actuation, and in H1 this year, the company's orders on hand exceeded 1 million units, an increase of more than nine times compared to last year. (Jin10 Data) [General Administration of Customs: In H1, China's exports of lithium batteries, wind turbines, and other green energy-related products increased by 37.6% and 35.6% respectively] The State Council Information Office held a press conference today to introduce China's foreign trade performance since the beginning of this year. Currently, the global green and low-carbon transition is deepening, and the construction of new energy and rising consumer demand align well with China's green products. In H1, China's exports of lithium batteries, wind turbines, and other green energy-related products increased by 37.6% and 35.6% respectively; green mobility products such as EVs, electric railway locomotives, electric motorcycles, and bicycles grew by 68.7%, 45.1%, and 31.5% respectively. Tesla Optimus project lead Ashok Elluswamy announced on social media on July 30, 2026, that the long-term annual capacity target for Optimus had been revised to 10 million units. This figure is ten times the originally planned capacity of 1 million units, marking a comprehensive upgrade in Tesla's humanoid robot capacity planning. [Google DeepMind launches Gemini Robotics 2 robot AI model] Google DeepMind has launched the Gemini Robotics 2 model. According to the introduction, Gemini Robotics 2 enables robots to reason about every action, thereby unlocking a broad range of tasks. For example, it can enable a humanoid robot to walk, squat, stretch, and manipulate objects to clean a cluttered room. It can even collaborate with other robots to complete tasks faster. This deep intelligence can also run locally on devices while seamlessly adapting to entirely new robot bodies within just a few hours. Meanwhile, Google DeepMind also launched two other robotic AI models — Gemini Robotics ER 2 and On-Device 2. Gemini Robotics ER 2 is the most powerful embodied reasoning (ER) model, a vision-language model (VLM) that will enable robots to communicate with humans, understand the physical world, and plan multi-step tasks lasting several minutes. On-Device 2 is the most efficient vision-language-action model (VLA), optimized to run locally on robotic devices. The model can now quickly adapt to entirely new robot entities with just hours of data. [Dayang Motor: Plans to Repurchase Shares Worth 120 Million–160 Million Yuan] Dayang Motor announced that the company plans to repurchase shares worth 120 million to 160 million yuan for future employee stock ownership plans or equity incentive plans, with a repurchase price not exceeding 11.5 yuan per share. [Xiangtan Electric: Expected Significant YoY Growth in Revenue from Synchronous Condensers and Flywheel Energy Storage This Year] Xiangtan Electric stated on an interactive platform that the company has actively developed new products in recent years, advancing R&D in synchronous condensers, flywheel energy storage, marine power, aviation electrification, and high-speed motors , achieving notable results in market promotion of synchronous condensers and flywheel energy storage. Revenue from these products is expected to see significant YoY growth this year; marine power, aviation electrification, and high-speed motors have also made some progress in market promotion. [BYD Plans to Launch Humanoid Robot in August This Year] Recently, reports suggested that BYD's humanoid robot is about to be launched. On July 28, BYD responded that it plans to launch the humanoid robot at "Di Space" in August. (Jin10 Data) [Unitree Robotics' Wang Xingxing: The "ChatGPT Moment" for Embodied AI Could Arrive Within Two to Three Years] According to the World Internet Conference news, the 2026 World Internet Conference Digital Silk Road Development Forum, themed "Smart Convergence on the Silk Road, Digital Opening of a New Journey – Jointly Building a Community with a Shared Future in Cyberspace," held its opening ceremony in Xi'an, Shaanxi, on July 22. Wang Xingxing, founder and CEO of Unitree Robotics, attended the ceremony and delivered a speech. Over the past few years, humanoid robots have made rapid progress from walking to dancing, from kung fu combat to simple services. Wang Xingxing believes that the "ChatGPT moment" for embodied AI is expected to arrive within as soon as two to three years: by then, robots will be able to directly work and achieve many basic functions in most unfamiliar scenarios. Therefore, everyone should make various plans and arrangements in advance based on their actual situation, so as to seize new opportunities in the intelligent era. (Jinshi Data) [Unitree Robotics: Preliminary Inquiry Date Is August 5, Offline Subscription Date Is August 10] Unitree Robotics announced that the company is conducting its initial public offering and listing on the STAR Market. The offering will be conducted through a combination of strategic placement, offline issuance, and online issuance. The company plans to publicly issue 40,446,434 shares, accounting for 10% of the total share capital after the issuance, with the total share capital after issuance at 404,464,340 shares. The preliminary inquiry date is August 5, 2026, and the offline subscription date is August 10, 2026. The company has a special voting rights mechanism arrangement, under which the actual controller, Wang Xingxing, controls a total of 68.78% of the voting rights through a differentiated voting rights arrangement. [Unitree Robotics’ Chen Li: Core Technologies of Joint Motors Entirely Self-Developed, Upstream Only Relies on Copper Wire, Magnets and Other Raw Materials] From July 3 to 4, the 2026 Yabuli Forum Innovation Annual Conference was held in Shanghai. Chen Li, co-founder of Unitree Robotics, stated that the company has achieved independent R&D and production of core parts and has integrated the underlying technology architecture, possessing the capability to independently develop and produce a full range of products including quadruped robots, humanoid robots, robotic arms, pumps, dexterous hands, etc., covering diverse application scenarios. In response to the view that joint motors rely on external procurement, Chen Li said that the core technologies of Unitree’s joint motors are entirely independently developed, with the upstream only involving the supply of basic raw materials such as copper wire and magnets, achieving a completely independent and controllable supply chain. He stated that by independently developing the full set of core technologies, Unitree's products maintain industry-leading levels in cost-effectiveness, reliability, stability, and consistency. At the same time, the company continues to invest in the R&D of core technologies such as robot control, perception, navigation, and AI algorithms, and has cumulatively applied for multiple patents. (Jinshi Data) [Report: China’s Embodied AI Market Size Has an Average Annual Compound Growth Rate of 22% to 23%] The "China Embodied AI Industry Development Report (2026)" was released in Shanghai on July 2. The report states that China has become one of the fastest-growing embodied AI markets in the world. According to calculations by multiple research institutions, the market size of China’s embodied AI is expected to grow from approximately 213.3 billion yuan in 2018 to 1.09 trillion yuan in 2026, with an average annual compound growth rate of 22% to 23%. The report notes that China possesses the world’s only and most complete full-chain industrial support for embodied AI, spanning from core sensors, servo motors, and harmonic reducers to whole-machine assembly and algorithm adaptation, forming a highly clustered industrial ecosystem. The agglomeration effect of parts supply industries in the Yangtze River Delta and Pearl River Delta regions allows new prototype iteration speeds to significantly outpace those in Western countries, and China’s embodied AI sector enjoys particularly prominent cost advantages, with overall manufacturing costs 30% to 50% lower than outside China. [Musk Elon: Optimus robot production will progress extremely slowly in the early stages because all technologies are being developed from scratch] Tesla CEO Musk Elon posted a photo of himself at the Optimus humanoid robot production line at the Fremont factory in California, US, on social media, sparking discussions about Optimus’ mass production progress. Some users noted that Tesla has recently reduced public demonstrations of Optimus, possibly because mass production progress has already exceeded market expectations. In response, Musk replied: “No, Optimus production is going to be extremely slow at the beginning because everything is brand new. It’s not like building cars.” [Bernstein: Japanese automakers’ interest in humanoid robots rekindled] Analysts at Bernstein said in a report that interest from Japanese automakers in humanoid robots appears to be reemerging. They pointed out that Mitsubishi Motors has said it signed a memorandum of understanding with a Japanese startup to jointly develop and mass-produce humanoid robots. The analysts noted that Japanese automakers have a long history of involvement in robotics. By 2050, global humanoid robot shipments could reach 49 million units, and the market would expand to approximately $729 billion. Given the overlap in core technologies (including actuators, sensors, batteries, control units, and AI software), this makes humanoid robots an attractive sector where automakers and suppliers have already accumulated expertise through vehicle deployment. Motor Spot Price To learn more about tax-inclusive weekly prices for various models such as three-phase asynchronous motors, variable frequency motors, DC brushed motors, flat motors, gear motors, linear motors, coreless motors, and motor cores, please click to view(). Voices from All Sides A research report from Huaxin Securities pointed out: Domestically, Yushu’s inquiry and subscription dates have been confirmed; outside China, the Optimus mass production process is accelerating toward implementation, Tesla has clarified capacity targets and issued parts procurement guidance, and the first mass production line is about to come online. We are bullish on the humanoid robot sector ushering in a definitive market trend. It is recommended to prioritize positioning in certain targets within the Tesla chain, which benefit from capacity ramp-up and are expected to drive order growth; at the same time, pay attention to quality enterprises with core parts R&D capabilities and adapted to the mass production needs of humanoid robots, and seize the beta opportunities in the sector. CITIC Securities pointed out that Tesla combines leading AI large model technology with large-scale manufacturing capabilities, and the company is in the top tier of the global embodied AI industry chain. It firmly believes in the mass production and application prospects of Tesla's robots. Tesla's Optimus is about to enter the production phase, and the Cybercab is undergoing testing as planned. It is recommended to focus on core players in the industry chain. A research report from China Securities stated that in July, different rare earth varieties exhibited significant differences in performance. Pr-Nd oxide rose first and then declined, terbium oxide jumped and then pulled back, and dysprosium oxide remained generally stable. Supply side, tight raw material supply issues at scrap plants led to a notable decline in production. According to SMM, Pr-Nd oxide production was down 11% MoM in July, and there may be marginal improvement in August, but overall production remains suppressed. Downstream, the high-temperature holiday season led to reduced operations at motor factories, with demand pulling back. August remains in the off-season, but the September-October peak season is a traditional peak consumption period. Market expectations for the start of demand recovery remain strong. In mid-to-late August, downstream stockpiling is expected to restart, breaking the supply-demand weakness and driving prices to stabilize and move upward. Wanlian Securities pointed out that the humanoid robot industry is currently at the dawn of transitioning from technological breakthroughs to large-scale commercialization. Supply side, Tesla, Unitree Robotics, Agibot, and UBTECH are steadily advancing the mass production pace. Demand side, an aging population and climbing labor costs serve as long-term drivers. Simultaneously, with policy and capital forces jointly boosting, AI large models continuously infuse soul into robots. Humanoid robots are expected to form an emerging industry, gradually moving from B-end to C-end, with vast future market space. Yingda Fund recently released the Q2 2026 report of its fund. The Q2 report of the Yingda Flexible Allocation Fund managed by fund manager Liu Yubin shows that, looking ahead, the fund remains optimistic about opportunities in the humanoid robot industry chain, particularly the Tesla Optimus supply chain. It holds positions centered on core Tier 1 suppliers and key parts top-tier players, strengthening a performance and order-driven approach, and focusing on the mass production progress of global leaders and the pace of commercialization of the domestic supply chain. Liu Yubin judges that data is the core foundation for the iteration of general embodied AI. Subsequently, he will increase allocation to quality targets that combine self-developed data acquisition hardware barriers and build complete end-to-end data closed loops, while continuously improving the portfolio framework. (Jinshi Data APP) Want to know more about the fundamentals, technicals, and policy aspects of the motor industry? Please participate in

Mercedes-Benz and Norsk Hydro have expanded their long-term partnership to accelerate the use of recycled aluminium in Europe. Under the agreement, Mercedes-Benz will become the first European automaker to use Hydro CIRCAL in serial production for its next-generation large electric vehicles. The material contains at least 75% post-consumer recycled (PCR) aluminium, up from the previous minimum of 25%. The companies will also expand the use of Hydro REDUXA low-carbon primary aluminium, aiming to reduce emissions, strengthen regional supply chains, and support circularity across the automotive value chain.

The year 2026 marks the official commencement of the 15th Five-Year Plan, ushering in a critical period of transformation and upgrading for the conductor wire and cable as well as electrical materials industry. Driven by the dual-carbon strategy, new-type power system construction, energy transition, and AI technology empowerment, sectors such as ultra-high voltage, new energy, computing centers, and NEVs are experiencing rapid development, effectively boosting the market demand for high-end copper and aluminum conductors and cable materials. The industry faces both opportunities and challenges, with tight supply and significant price fluctuations of copper and aluminum raw materials, compounded by geopolitical trade and cost volatility, leading to sustained pressure on enterprise operations and supply chains, as well as intensified industry competition. Meanwhile, the accelerated application of aluminum as a substitute for copper and new copper-aluminum composite materials, alongside continuous advancements in intelligent manufacturing and green low-carbon technologies, is driving industrial quality enhancement and upgrading. Against this backdrop, Shanghai Metals Market (SMM) will host the 2026 SMM (11th) Conductor Wire and Cable Industry Exhibition & Electrical Materials Industry Annual Conference on November 5-6, 2026 in , bringing together resources from the entire industry chain to establish a professional and efficient platform for cooperation and exchange. SMM joins hands with Jiangsu Daoming Chemical Co., Ltd. to invite industry peers to participate, collectively supporting enterprises in overcoming challenges and promoting high-quality industry transformation. Click the to sign up immediately. We look forward to meeting you at the conference. Daoming DCP, the trusted choice of global wire and cable factories! Jiangsu Daoming Chemical Co., Ltd. , established in March 2012, was invested by Shanghai Xintianhe Industrial Co., Ltd. The company is located at No. 168 Jianghai Road, Qidong Riverside Fine Chemical Park, Jiangsu Province, with its headquarters in Shanghai. The total project investment amounts to 530 million yuan, with a registered capital of 223.6 million yuan, covering an area of 155.4 mu and a total construction area of 73,536 m². The company implements an annual production capacity of 24,000 mt (Phase I: 12,000 mt, Phase II: 12,000 mt) of dicumyl peroxide (DCP). The DCP production process is mature, advanced, and features controllable safety measures. The entire process employs DCS control and ESD emergency shutdown systems. The oxidation reaction utilizes the currently advanced low-pressure dry oxidation process, with the system using DCS for process indication, alarm, and control, and SIS for safety interlock measures on critical processes. The production scale, process technology, and product quality all meet professional standards. The product is primarily used as a cross-linking agent in rubber and plastic processing, mainly applied in footwear (EVA), building insulation materials (EPS), and the wire and cable industry, with nearly 50% of the products exported to markets in Europe, the Americas, and beyond. The products are mainly supplied to internationally renowned enterprises such as Borouge, Hanwha, Wanma, and Wanhua Chemical. The company has a team of technical personnel with extensive production management experience. Currently, it has over 210 employees, including more than 100 with a college degree or above. The company has a professional R&D center, testing center, and production site. It advocates the philosophy of green ecology and clean production, strictly implements relevant national environmental protection standards, and has designed and built a regenerative thermal oxidizer (RTO) project in accordance with petrochemical regulations, along with wastewater treatment facilities and a hazardous waste storage warehouse. It has passed six system certifications: quality management, environmental management, occupational health and safety management, energy management, EcoVadis, and REACH. Daoming Chemical will follow the development direction of technology and environmental protection, adhere to the service philosophy of " Customer First, Consistent Always ", uphold the business policy of " Standardized Management, Market-Oriented Operation ", and strive hard to become a professional chemical enterprise in the industry. Contact Information Wang Jun 137 7351 1805 SMM Conference Contact Zhang Guolei 166 0190 0190 zhangguolei@smm.cn Scan the QR code to attend immediately

[Chery Group July Sales: 277,000 Units, Up 23.3% YoY] Chery Group announced that in July 2026, the group sold 276,820 vehicles, up 23.3% YoY. Of the total, exports reached 202,533 units, up 70.1% YoY, making it the first Chinese automaker to exceed 200,000 units in monthly exports. In July, the group sold 129,067 NEVs, up 97.5% YoY. From January to July, Chery Group's cumulative vehicle sales reached 1,634,353 units, up 10.1% YoY. Of the cumulative total, exports came to 1,146,350 units, up 71.2% YoY, and cumulative NEV sales were 604,305 units, up 42.3% YoY.

According to Yonhap News Agency, Hyundai Motor Company and Kia Corporation said on Sunday that the two South Korean automakers sold more than 100,000 EVs in Europe in H1 this year, strengthening their position in the region. Hyundai and Kia said they sold a total of 131,032 EVs in Europe in H1 2026, a sharp increase of 41.8% from 92,365 units in H1 2025. The two companies expect that if the current sales pace continues through year-end, their annual EV sales in Europe will exceed 200,000 units for the first time since entering the European EV market in 2014. As of May this year, their cumulative EV sales in Europe surpassed the 1 million unit mark.

[SMM Analysis: US Lyten's "Dip-Buying Acquisition" of Northvolt's European Assets Lithium-Sulfur Solid-State Battery Global Layout] Through successive acquisitions of the core assets of bankrupt European battery giant Northvolt, Lyten obtained 16 GWh of existing capacity, Europe's largest battery R&D center, and over 100 GWh of expansion space at a steep discount far below valuation. Meanwhile, leveraging its lithium-sulfur battery technology built on the patented 3D Graphene platform, Lyten's material system completely eliminates nickel, cobalt, manganese, and graphite, forging a technological path entirely different from traditional solid-state batteries.