On February 23, the Hong Kong stock market saw its second trading session of the Year of the Horse, with the robotics concept sector (887755.WI) performing notably well, surging 1.76% by the midday break. Among the constituent stocks, ASMPT (05522.HK) rose sharply by 5.27%, Hua Hong Semiconductor (1347.HK) increased by 4.83%, with stocks like Nexteer, JL MAG Rare-Earth, and Tiangong International also advancing.
During the Hong Kong market's first session of the Year of the Horse on February 20, despite the three major indices opening lower and declining throughout the day, robotics concept stocks defied the trend with significant gains. Dobot (02432.HK) closed up 21.4% at HKD 48.44 per share; Robosense (02498.HK) was quoted at HKD 37.58 per share, rising 9.24%; Hesai-W (02251.HK) increased by 7.93%; and UBTech (09880.HK) climbed 4.71%.
The enthusiastic response in the capital market stemmed from the "robot showcase" during the 2026 CCTV Spring Festival Gala. On this year's gala stage, four domestic robotics companies—Songyan Power, Unitree Robotics, Magic Atom, and Galaxy General—appeared in four categories of performances: skits, martial arts, songs, and microfilms, deeply integrating cutting-edge technology with traditional Lunar New Year customs.
Specifically, Unitree Robotics' G1 and H2 humanoid robots in the martial arts performance "Wu BOT" not only executed continuous freestyle table-running parkour but also performed the world's first robot Airflare spin of seven and a half rotations, stunning the audience. Songyan Power deployed its full product lineup to co-star with Cai Ming and Wang Tianfang in the skit "Grandma's Favorite," where its bionic robots performed backflips, acted coquettishly, and told jokes, achieving frame-level synchronization of lip movements and speech through 32 facial drive motors. Magic Atom's MagicDog quadruped robots, designed as "national treasure pandas," performed a large-scale group control show at the Yibin sub-venue. Robots from Galaxy General demonstrated delicate and dexterous hand operations such as rotating walnuts, folding clothes, and skewering sausages in the New Year microfilm "My Most Memorable Tonight."
Beyond the main CCTV stage, companies like Zhiyuan Robotics, Zhongqing Robotics, and Luming Robotics also featured in various local satellite TV galas, creating a spectacle of "robots dominating the Spring Festival Gala." This phenomenon has been interpreted by the market as a significant indicator of the industry moving from laboratories into the public eye, accelerating expectations for commercial implementation.
The popularity generated by the gala directly translated to consumer demand, with sales of robotic products on major e-commerce platforms experiencing explosive growth. Douyin became a core platform for spreading robot-related topics; during the gala broadcast, related content repeatedly trended on Douyin, accumulating eight hot topics with over 100 million exposures. According to official Douyin E-commerce data, from February 16 to 18, the Gross Merchandise Value (GMV) of robotic products on the platform surged 1680% year-over-year, with order volume increasing 655%.
Data from JD.com were equally impressive. Within two hours of the gala's start, searches for robots on JD.com increased by over 300% compared to the previous period, customer service inquiries rose by 460%, and order volume grew by 150%. "Gala-similar" robots sold out immediately upon listing, including two Galbot G1 units from Galaxy General valued at nearly CNY 630,000, which were snapped up instantly.
In parallel with the gala fervor, the robotics industrial chain has seen continuous positive developments. Robosense released a profit alert on the evening of February 19, forecasting a net profit of no less than CNY 60 million for the fourth quarter of 2025, marking its first quarterly profit and signaling a new phase in its business development. Dobot recently commenced mass production and delivery of the third batch of its full-size industrial humanoid robot, Atom, indicating accelerated entry into large-scale application scenarios.
In its latest research report, Guohai Securities emphasized that amid the wave of electrification and intelligence, the launch and continuous iteration of humanoid robots domestically and internationally could unlock a market potential broader than that of automobiles. The humanoid robot industrial chain is poised for a critical "from 0 to 1" investment opportunity. With humanoid robots dominating the gala and industrialization accelerating, companies from robot manufacturers to component suppliers are continuously iterating products, rapidly advancing business collaborations and scenario applications, and actively exploring mass production and commercial deployment. Guohai Securities suggests the humanoid robot industry may be approaching its "ChatGPT moment."
Dongwu Securities pointed out that Tesla's Optimus is progressing smoothly through iterations, with 2026 set to be the first year of large-scale mass production. Key certainty directions include Tier 1 suppliers, ball screws, and reducers, as the supply chain gradually narrows. Furthermore, in the domestic chain, leading players like Unitree and Zhiyuan are expected to achieve batch market entry in 2026, injecting new vitality into the market.
Dongwu Securities further analyzed that flexible investment targets in robotics should focus on technological iteration and cost reduction: first, in dexterous hands, where increased degrees of freedom, extended lifespan, cost reduction, and enhanced dexterity are core drivers, with specific changes including the adoption of planetary ball screws, cold heading for cost reduction, and electronic skin; second, in motors, where axial flux motors with high torque density and compact structures are accelerating penetration; and third, in lightweighting, whose importance will grow as robots transition from labs to mass production, making directions like PEEK and magnesium-aluminum alloys noteworthy.
Comments