The humanoid robot industry demonstrated impressive performance in 2025, with over 80% of concept stocks achieving profit growth. Core component and material suppliers led the expansion, highlighting the sector's robust prosperity.
The humanoid robot industry experienced an earnings breakout in 2025, with more than 80% of concept stocks realizing profit growth. Core component and material enterprises delivered particularly outstanding results, generally forecasting growth exceeding 50%, while some companies like Smartsens Technology and JL MAG Rare-Earth even doubled their earnings. Complete machine manufacturers showed divergent trends due to substantial research and development investments. Continuous policy support and expanding market demand jointly propelled the industry's rapid development, with leading enterprises such as Sanhua Intelligent Controls and Shengyi Technology anticipating profits surpassing 4.5 billion yuan, underscoring a significant uplift in the industrial chain's overall vitality.
Over 80% of companies achieved earnings growth China has successively introduced multiple supportive policies in recent years to bolster the humanoid robot industry's development. As early as late 2021, fifteen ministries and commissions including the Ministry of Industry and Information Technology and the National Development and Reform Commission jointly released the "14th Five-Year Plan for Robot Industry Development," identifying embodied intelligence as a key breakthrough direction. Subsequent policies like the "Robot+ Application Action Implementation Plan," "Guiding Opinions on Innovative Development of Humanoid Robots," and "Implementation Opinions on Promoting Future Industry Innovation Development" further accelerated China's humanoid robot industry advancement.
Driven by favorable policies, China's humanoid robot industry developed rapidly. According to statements by Vice Minister of Industry and Information Technology Zhang Yunming at a State Council Information Office press conference on January 21, 2026, the number of domestic humanoid robot complete machine enterprises had exceeded 140 by 2025, with over 330 humanoid robot products launched.
In capital markets, A-share humanoid robot concept stocks showed positive 2025 earnings momentum. Wind data statistics indicate that as of January 26, among 110 component stocks in the Wind humanoid robot sector, 26 companies had disclosed 2025 performance forecasts. Regarding forecast types, 18 companies projected favorable results (pre-growth, continued profitability, turnaround, slight growth), while 21 companies realized net profit growth based on profit change幅度, accounting for 81% of companies that had disclosed 2025 performance forecasts. Compared with 2024 data, only 13 of these 26 companies had achieved year-on-year earnings growth then, representing a 50% proportion.
Data shows core component enterprises generally anticipated growth exceeding 50%, with some material suppliers even achieving doubled growth. For instance, Smartsens Technology projected a maximum increase of 162%, while JL MAG Rare-Earth reached 161%. In contrast, complete machine manufacturers displayed divergent performance due to substantial前期R&D investments, with companies like Estun achieving profit turnarounds and Meihao forecasting growth, while Effort and Yijiahe continued reporting losses.
Sanhua Intelligent Controls and Shengyi Technology anticipate profits exceeding 4.5 billion yuan Specifically, among humanoid robot concept stocks disclosing 2025 earnings expectations, Sanhua Intelligent Controls and Shengyi Technology currently lead in upper profit expectation limits, reaching 4.65 billion yuan and 4.56 billion yuan respectively. Additionally, China Northern Rare Earth, Smartsens Technology, JL MAG Rare-Earth, Changying Precision, and Supcon Technology also projected upper profit expectation limits exceeding 500 million yuan.
Sanhua Intelligent Controls (002050.SZ) is the world's largest refrigeration control components manufacturer and a leading automotive air conditioning and thermal management system control parts producer, holding global market share leadership in products like electronic expansion valves and four-way reversing valves. The company has successfully transferred technology and experience accumulated in automotive thermal management (particularly for new energy vehicles) to humanoid robot mechatronic actuator development, serving as a core supplier of mechatronic actuators for Tesla's humanoid robot by providing integrated products including rotary and linear actuators.
According to interactive platform information, Sanhua Intelligent Controls has established a robotics division coordinating with Tesla on product development, trial production, iteration, and sampling, achieving phased progress. "Overseas production bases are under construction to optimize supply chain layout, enhance global competitiveness, and lay foundations for subsequent capacity expansion. The company will continue following industry development footsteps to welcome the 'robot era'."
2025 performance forecasts disclose that Sanhua Intelligent Controls realized 2025 net profits attributable to shareholders of 3.8739564-4.6487477 billion yuan, representing 25%-50% year-on-year growth;扣非净利润3.6791636-4.6145441 billion yuan, growing 18%-48% year-on-year; basic earnings per share reached 0.98 yuan/share.
Regarding primary reasons for 2025 profit growth anticipation, Sanhua Intelligent Controls stated: During the reporting period, the company continuously consolidated its leading industry position in refrigeration and air conditioning appliance components business, fully seized market demand growth opportunities,叠加core products' profound technological accumulation and规模化production advantages, driving sustained growth in this business. Simultaneously, leveraging领先global market布局in new energy vehicle thermal management领域and benchmark customer demonstration effects, the company持续expanded high-quality orders, further strengthening automotive components business earnings growth momentum.两大business segments协同发力, providing solid support for full-year performance growth.
Representative PCB enterprise Shengyi Technology anticipates 2025 net profits attributable to shareholders of 4.16-4.56 billion yuan, surging 260.35%-295.00% year-on-year;扣非净利润4.15-4.55 billion yuan, increasing 263.59%-298.64% year-on-year.
Regarding primary growth reasons, Shengyi Technology (300476.SZ) stated it benefited from historical new opportunities brought by AI computing technology innovation and data center upgrade waves. "With continuous global AI infrastructure and computing demand expansion, the company leverages industry-leading technological capabilities, quality capabilities, delivery capabilities, and globalized service abilities to become core partners for numerous domestic and international leading technology enterprises. In key areas like AI computing, data centers, and high-performance computing, multiple high-end products have achieved mass production, driving product structure upgrades toward high-value, high-technical-complexity directions, significantly increasing high-end product proportions and propelling rapid company earnings growth."
Regarding humanoid robot领域investments, Shengyi Technology responded to investor inquiries on interactive platforms: "The company高度关注industry new technologies and product applications, focusing on攻克high-growth markets including humanoid robots. Currently, we have established cooperative relationships with some domestic and international leading enterprises in humanoid robots, with PCB products applied in this领域already entering production and sales stages."
On January 23, 2026, Shengyi Technology received investigations from 53 institutional investors including Goldman Sachs Securities, Springs Capital, CITIC-Prudential Asset Management, HFT Investment Management, and Jiangsu Ruihua. During interactive exchanges, regarding institutional inquiries about "whether the company has layouts in next-generation AI server products and future technical solutions," Shengyi Technology stated: "The company possesses mass production capabilities for over-70-layer high-precision circuit boards, being among global first-batch enterprises achieving mass production of 6-step-24-layer AI computing data center products and 8-step-28-layer HDI with 16-layer any-layer HDI technical capabilities. Currently, we are持续推进10-step-30-layer HDI R&D certification and possess over-100-layer high-multi-layer PCB technical capabilities."
China Northern Rare Earth and JL MAG Rare-Earth anticipate doubled earnings growth Regarding net profit growth performance, nine humanoid robot concept stocks currently project doubled 2025 earnings growth: ST Yuanzhi, Shengyi Technology, Shenli Shares, Smartsens Technology, JL MAG Rare-Earth, HaoPeng Technology, China Northern Rare Earth, Estun, and Siasun, while 19 companies anticipate growth exceeding 50%.
Among companies achieving doubled growth, China Northern Rare Earth (600111.SH), a controlling subsidiary of Baotou Steel Group, has established the world's largest rare earth raw material production base and rare earth functional material manufacturing base. Latest 2025 performance forecasts disclose: the company expects 2025 net profits attributable to shareholders of 2.176-2.356 billion yuan, increasing 116.67%-134.60% year-on-year; anticipated 2025扣非归母净利润1.96-2.14 billion yuan, growing 117.46%-137.43% year-on-year.
Regarding 2025 profit growth reasons, China Northern Rare Earth stated in announcements: The company takes the lead implementing national industrial policies, follows strategic development plans, closely captures market change rhythms,紧盯annual production and operation task objectives, strengthens comprehensive budget management, and deepens benchmark improvements with cost-reduction and quality-efficiency enhancements. Scientific linkage organizes production scheduling, strengthens market analysis and forecasting, and加压marketing operations to seize market opportunities. Accelerates key project construction, deepens scientific research and management innovation, and strengthens assessment incentives and constraints.
Notably, on January 9, 2026, China Northern Rare Earth and Baotou Steel announced plans to adjust Q1 2026 rare earth concentrate related transaction prices to 26,834 yuan/ton tax-excluded (dry quantity, REO=50%),环比increasing 2.4%. Prices adjust by 536.68 yuan/ton tax-excluded for each 1% REO change. Rare earth concentrate transaction prices have undergone six consecutive increases since Q3 2024.
Regarding humanoid robots, China Northern Rare Earth has clearly identified them as a "core new engine" for rare earth magnetic material demand growth, noting that high-performance NdFeB permanent magnet materials are irreplaceable key functional materials for humanoid robot joint servo motors. On interactive platforms, China Northern Rare Earth stated: The company refines rare earth permanent magnet alloys, jointly conducting scientific research and development with robot joint motor manufacturers to enhance magnetic material performance meeting "miniaturization, high power density" requirements, while strengthening rare earth magnetic material R&D and technical reserves,布局conducting rare earth micro permanent motor research.
JL MAG Rare-Earth (300748.SZ), a global rare earth permanent magnet industry leader, projected higher 2025 earnings growth than China Northern Rare Earth. 2025 performance forecasts disclose the company realized net profits attributable to shareholders of 660-760 million yuan, surging 127%-161% year-on-year.
Regarding growth reasons, JL MAG Rare-Earth attributed it to management's adherence to steady, compliant operational policies, active market expansion, and measures like organizational optimization, lean management, and flexible raw material inventory strategy adjustments, ensuring delivery while continuously improving operational efficiency and profitability; anticipated non-recurring损益affecting net profit by approximately 80 million yuan. In performance forecasts, JL MAG Rare-Earth also noted: "The company's embodied robot motor rotors and magnetic material products, along with low-altitude aircraft领域products, have achieved small-batch delivery."
Indeed, regarding humanoid robot领域布局, JL MAG Rare-Earth多次stated on investor interactive platforms: "In humanoid robots, 2025 marks the development first year. The company upgraded its humanoid robot magnetic component technology R&D department to a humanoid robot magnetic component business division, with the CEO concurrently handling strategic coordination. Currently, based on customer需求, we have conducted supporting investments including project-dedicated plants, dedicated equipment, and professional teams, initially possessing certain规模化mass production capabilities." "In robotics, the company actively coordinates with world-renowned technology companies on embodied robot motor rotor R&D and capacity construction, achieving small-batch delivery."
Public information shows that凭借strong capacity,卓越R&D capabilities, proprietary technology, and robust product delivery abilities, JL MAG Rare-Earth has established细分market领先positions in multiple key downstream领域: products are used by global top-ten new energy vehicle manufacturers for drive motor production; eight of global top-ten variable-frequency air conditioning compressor manufacturers are company clients; five of global top-ten wind turbine manufacturers are company customers.
Supcon Technology and Haozhi Industrial achieve short-term gains exceeding 70% Since renewed increases starting December 17, 2025, the Wind humanoid robot index rose 15.54% by January 26, 2026. At individual stock levels, Supcon Technology, Wuzhou Xinchun, Haozhi Industrial, and Tianqi Shares demonstrated good interval gains, rising 77.8%, 74.6%, 71.8%, and 69.2% respectively.
Examining Supcon Technology (688777.SH) with the largest interval stock price increase, its earnings expectations appear less impressive than price performance. According to 2025 performance forecasts: anticipated 2025营业收入7.6397738-8.4439605 billion yuan, declining 7.60%-16.40% year-on-year; expected 2025 net profits attributable to shareholders of 426.1844-524.1578 million yuan, decreasing 53.07%-61.85% year-on-year.
Regarding earnings decline reasons, Supcon Technology stated: "Macroeconomic growth slowed, downstream customer demand weakened, and company main business收入declined year-on-year; reduced bank wealth management and interest income同比combined with increased exchange loss同比caused declines. The company全力invested in developing industrial AI business, with innovative businesses like time-series large model TPT gradually achieving规模化commercial implementation."
Originally China's process industrial automation leader, Supcon Technology strategically shifted toward an "industrial AI company" from 2024, viewing humanoid robots as key carriers for AI technology implementation in high-risk, repetitive, complex industrial scenarios (like petrochemicals and chemicals). Leveraging existing industrial software (like TPT time-series large model), control systems (UCS), and global customer resources (like Saudi Aramco), it反向defines and drives humanoid robot value in actual production lines. In 2024, the company became single largest shareholder in Zhejiang Humanoid Robot Innovation Center Co., Ltd., holding 38.85% shares.
Compared with Supcon Technology's approximately 50% earnings decline, Haozhi Industrial (300503.SZ) with 71.8% interval gain projected maximum 2025 growth of 99.03%. Information shows Haozhi Industrial specializes in R&D design, production manufacturing, sales, and maintenance services for mid-to-high-end CNC machine tools, robots, and new energy vehicle core functional components as a national high-tech enterprise. Since 2024, benefiting from terminal consumer electronics industry持续recovery, accelerated AI computing infrastructure construction, accelerated domestic substitution, and active new energy and robot market expansion, the company achieved significant earnings recovery maintaining steady growth. Latest 2025 performance forecasts disclose net profits attributable to listed company shareholders of 128-165 million yuan, increasing 54.40%-99.03% year-on-year;扣非净利润76.5-112 million yuan, growing 79.77%-163.19% year-on-year.
Regarding 2025 earnings growth, Haozhi Industrial stated: Benefiting from PCB market demand growth driven by AI computing infrastructure and consumer electronics upgrades, plus accelerated domestic substitution and technological innovation, the company's PCB-specific processing equipment and multiple spindle product sales收入同比大幅提升. Under scale effect-driven product毛利率improvements and enhanced overall operational capabilities, 2025 net profits attributable to listed company shareholders realized substantial growth; non-recurring损益affecting net profits attributable to listed company shareholders by approximately 33.5-50 million yuan.
Sustained stable earnings growth also elevated institutional attention, with Haozhi Industrial receiving four institutional investigations since last year's fourth quarter. During January 25, 2026 investigations by Bosera Fund, Harvest Fund, Huafu Fund, and other institutions, Haozhi Industrial stated: "In 2025, we made significant progress in robot core components领域, with self-developed harmonic reducers achieving key performance breakthroughs. Based on前期business布局and持续推进customer introduction work, related products have gradually entered supply chain systems of some industry leading customers."
Notably, in latest investigations, Haozhi Industrial also responded to institutional concerns about commercial aerospace领域布局. It stated that commercial aerospace布局precisely builds on existing precision manufacturing capabilities' natural extension and strategic application in this领域,开拓new application scenarios and market spaces through forward-looking布局, thereby further enhancing business structure diversity and growth potential. "Currently, commercial aerospace-related business remains relatively small in main business收入proportion, having limited impact on overall operational performance."
Comments