Shares of robot-related companies are leading the decline in Hong Kong trading, with DOBOT (02432) dropping 6.88% to HK$24.10, UBTECH ROBOTICS (09880) falling 5.13% to HK$79.60, ZHAOWEI (02692) slipping 3.93% to HK$41.12, and SANHUA (02050) down 4.07% to HK$26.40 at the time of writing.
On the news front, Unitree Technology continued its downward slide on August 24, closing 10.31% lower at 603.08 yuan per share. Despite still being roughly triple its initial public offering price of 150.80 yuan, the stock has retreated more than 45% from its first-day opening price of 1,100 yuan, with total market capitalization now dipping below the 250 billion yuan threshold.
Where the market stands now
According to a research report from China Securities, Unitree's market value briefly surpassed the 440 billion yuan mark on its debut day, far exceeding market expectations. However, this massive valuation has created a notable capital absorption effect on the sector, putting widespread downward pressure on other robot-related names. As of Friday, Unitree's market cap has retreated to approximately 270 billion yuan, and if the adjustment persists, it could continue to weigh on sector sentiment in the near term.
Looking beyond the short-term turbulence
From a medium-to-long-term industry perspective, however, the inflection point for the sector is approaching, suggesting that the current pullback may represent a temporary correction rather than a fundamental shift in the industry's growth trajectory.
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