SHOUCHENG (00697) fell more than 9% during early trading. At the time of writing, the stock was down 8.51% to HK$2.15, with a turnover of HK$206 million.
Market sources indicate that while robot rentals for the Spring Festival period were fully booked a month in advance—with last-minute orders potentially driving prices up to RMB 10,000 per day from the previous rate of several thousand—overall robot rental prices have been on a downward trend. An industry participant noted that current product differentiation among manufacturers is minimal, primarily distinguishing between dancing and non-dancing robots. The core reason for the price decline is attributed to an easing in supply-demand dynamics.
Data provided by JD.com also confirms that significant price reductions in rentals have become a key trend in the current robot consumer market.
It is worth noting that three robotics companies in which SHOUCHENG holds investments are set to appear in the 2026 Spring Festival Gala. A recent Goldman Sachs research report highlighted that the gala serves as an important platform for showcasing humanoid robotics technology in China. Performances by robots from private enterprises such as Yushu, Nuoteli, Magic Lab, and Galbot demonstrated substantial progress in hardware and full-body control. However, the highly choreographed nature of the performances makes it difficult to fully assess their underlying AI capabilities.
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