Humanoid robots continue to receive positive news.
Asia-Pacific stock markets experienced a major decline. February 2nd witnessed a "Black Monday" for global markets, with Asia-Pacific stock indices plummeting across the board. Among them, South Korea's KOSPI index fell 5.26%, marking its largest single-day drop since April 8, 2025; at 12:31 PM local time, the Korea Exchange initiated its first temporary halt on program trading for the year. Indonesia's Jakarta Composite Index dropped 4.88%, Japan's Nikkei 225 declined 1.25%, Vietnam's Ho Chi Minh Index fell 1.23%, while Australia's S&P/ASX 200 and New Zealand's S&P/NZX 50 indices also recorded losses.
The A-share and Hong Kong markets opened lower and continued to fall throughout the session. The Shanghai Composite Index closed down 2.48%, shedding over 100 points in a single day; the Shenzhen Component Index fell 2.69%, the ChiNext Index dropped 2.46%, the Hang Seng Tech Index plunged 3.36%, and the Hang Seng Index declined 2.23%. Simultaneously, US stock index futures also saw significant declines. Nasdaq 100 futures fell as much as 1.91%, and were still down over 0.8% at the time of writing. S&P 500 futures and Dow Jones futures were also in negative territory, while the VIX volatility index surged nearly 10%, indicating spreading market panic.
In commodity futures, spot London gold fell over 4%, spot London silver dropped over 7%, Shanghai gold and Shanghai silver futures declined 15.73% and 17% respectively, while Shanghai tin, Shanghai copper, Shanghai aluminum, and lithium carbonate futures all hit their daily downside limits.
The current downturn in precious metals may be driven by panic sparked by the Federal Reserve Chair nomination. Analysis suggests that former US President Trump's announcement on the 30th nominating former Federal Reserve Board member Kevin Warsh as the next Fed Chair has intensified market expectations of a "hawkish" future monetary policy. This has spurred a significant strengthening of the US dollar and a sharp correction in precious metal prices, with high-risk, high-volatility cryptocurrencies also being sold off. Tesla's third-generation humanoid robot is set to make an appearance. On February 2nd, Tesla announced via its Weibo account that its third-generation Tesla humanoid robot is即将亮相. Redesigned from first principles, it can learn new skills simply by observing human behavior, with an expected annual production capacity of one million units.
At this year's Davos Forum, Elon Musk revealed that Tesla has already deployed some Optimus robots in its factories to perform simple tasks, and expects them to handle more complex work by the end of this year. Musk stated that if Tesla is confident in the robots' reliability, safety, and functional range, public sales will commence by the end of next year. Previously, Tesla announced on X that the Optimus pilot assembly line is currently operational at the Fremont factory, with a significantly larger third-generation production line arriving in 2026 for real-world application testing in factories and office spaces. Tesla stated its goal is to achieve a cost of $20,000 per unit at scale. Positive news for humanoid robots has been frequent recently. On January 29th, the Beijing Humanoid Robot Innovation Center's pilot verification platform officially commenced operations, marking the rollout of Beijing's 1000th humanoid robot. Several companies announced new developments in their humanoid robot businesses, such as Zhongqing Robotics partnering with Transcender to launch a humanoid robot astronaut exploration program, Hong Kong-listed "humanoid robot first stock" Ubtech open-sourcing its embodied AI large model Thinker, and Yiyou Technology's "world's first automated robot joint production line" commencing operations in Pudong. The commercialization of humanoid robots is accelerating. Since 2025, the global humanoid robot industry has entered a phase of rapid development. An IDC report indicates that global humanoid robot shipments in 2025 reached approximately 18,000 units, a year-on-year increase of about 508%, with Chinese manufacturers dominating. Supported by strong policies and funding, relevant Chinese companies continue to make breakthroughs, propelling the industry to the forefront globally.
In recent years, supportive policies for the humanoid robot industry have been successively implemented. At the central level, the Ministry of Industry and Information Technology issued the "Guiding Opinions on the Innovative Development of Humanoid Robots" in 2023, aiming for significant improvement in technological innovation capabilities by 2027. At the local level, regions like Beijing, Shanghai, Guangdong, and Zhejiang have actively followed suit with targeted policies focusing on breakthroughs in key areas such as dexterous hands, specialized chips, and high-power-density actuators, aiming to overcome industrial "bottleneck" challenges.
Investment and financing in the humanoid robot industry remain active. According to IT桔子 statistics, in the first three quarters of 2025, there were 610 primary market financing events in the domestic robotics industry, doubling compared to 294 events in the same period last year. According to Omdia's "General-Purpose Embodied Robot Market Radar" report, from a global competitive landscape perspective, the top six companies in terms of humanoid robot shipments in 2025 are all Chinese firms—Zhiyuan, Yushu Technology, Ubtech, Leju Robotics, Zhongqing Robotics, and Fourier. These six companies collectively hold 86.9% of the global market share, forming a significant cluster advantage.
A Caixin Securities research report believes that China, leveraging its market advantages, industrial chain support, and strong policy backing, is becoming a major force in the field of humanoid robots. Domestic companies are comprehensively deployed from core components to whole-machine R&D, focusing on implementation in industrial and civil scenarios. A list of concept stocks with positive earnings forecasts has been released. According to statistics from Securities Times · Data宝, there are 110 humanoid robot concept stocks in the A-share market. Fifty-six of these stocks have released their 2025 annual performance forecasts, with 24 expecting year-on-year growth in net profit attributable to shareholders, 9 expecting to turn a profit from a loss, and 5 expecting a reduction in losses. Overall, approximately two-thirds reported positive news.
Based on the lower limit of forecasted net profit, Shenghong Technology has the highest net profit. The company expects to achieve a net profit attributable to shareholders of 4.16 billion to 4.56 billion yuan, a substantial year-on-year increase of 260.35% to 295%. The company has already established cooperative relationships with leading domestic and international companies in the humanoid robot field, and PCB products applied in this area have entered the production and sales stage.
Among the stocks turning profitable, Orbbec-UW has the highest forecasted net profit lower limit, expecting to achieve a net profit attributable to shareholders of 123 million yuan, marking its first annual profit since listing. In emerging fields like humanoid/embodied intelligent robots, the company's 3D vision sensor products have become a standardized solution, possessing comprehensive advantages in leading technology routes, superior product performance, and mass production capabilities.
In terms of institutional attention, among the stocks with positive profit forecasts, 8 have received institutional research visits since the beginning of the year. Ninebot-WD, Smartsens Technology-W, and Orbbec-UW lead in the number of institutional research visits, reaching 160, 73, and 68 respectively.
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