Institutional research covered over 430 stocks in the past week, with Inovance Technology (300124) receiving the most attention.
Inovance Technology was surveyed by 197 institutions, including 43 fund companies, 15 securities firms, 20 private equity firms, 17 insurance companies, and 40 overseas institutions. In the first three quarters of 2025, the company's general automation business achieved revenue of approximately RMB 13.1 billion, up 20% year-on-year, significantly outpacing industry growth.
During the survey, Inovance Technology attributed its rapid growth in general automation to: 1. Capturing opportunities in high-growth sectors such as new energy vehicle component manufacturing, lithium batteries, logistics equipment, and electrification of construction machinery, leading to strong order growth. 2. Optimizing regional resource allocation, sustaining solid growth in comprehensive industry operations. 3. Implementing multi-product bundled sales strategies, delivering higher-value integrated solutions for industrial manufacturing, further boosting market share in servo systems and low-voltage inverters.
In energy storage, the company primarily focuses on large-scale storage projects but aims to expand into digital energy management solutions for enterprises. Leveraging its InoCube digital platform, Inovance is advancing its FEMS energy management software to drive digital energy solutions.
Additionally, the company has been actively developing core components for humanoid robots, including: 1. Drives and motors, emphasizing torque density and thermal control to address industry challenges. 2. Planetary roller screws. 3. Linear and rotary joint modules.
BeiGene (688235) and Zhongchuang Zhiling (300496) were also surveyed by over 100 institutions.
BeiGene reported strong Q3 execution, with revenue reaching $1.4 billion, up 41% YoY. GAAP EPS for ADS stood at $1.09, improving by over $2 YoY, while generating $350+ million in free cash flow.
Zhongchuang Zhiling posted total revenue of RMB 30.77 billion in the first three quarters, up 10.5% YoY, with net profit attributable to shareholders rising 19.2% to RMB 3.645 billion. Growth was driven by coal machinery segment contributions, improved profitability at SEG, and increased stakes in subsidiaries Hengda Intelligent Control and Yaxinke.
Market-wise, surveyed stocks averaged over 1% gains last week, with Jiangsu HSC New Energy Materials (688353), Fushine Pharmaceutical (300497), and Zhejiang Yongtai Technology (002326) surging more than 20% against the market trend. These outperformers are tied to the lithium hexafluorophosphate price hike theme.
Jiangsu HSC New Energy Materials (688353) soared nearly 80% this week, citing progress in multiple projects, including: - 200,000-ton low-energy/high-performance anode material project (Phase I: 50,000 tons). - 500-ton LiDFOB and 2,000-ton MMDS production lines. - 3,000-ton LiFSI project. - 60,000-ton VC production (Phase I: 30,000 tons). - 144,000-ton hazardous waste treatment and recycling center.
Zhejiang Yongtai Technology (002326) noted that recent price increases stem from supply-demand dynamics. While long-term demand from EVs and energy storage persists, coupled with cautious industry capacity expansion, tight balances for lithium materials like LiPF6 and VC may continue. However, prices remain uncertain due to raw material costs and policy shifts.
Fushine Pharmaceutical (300497) disclosed current capacities of 8,000 tons/year for VC and 4,000 tons/year for FEC. It plans to expand VC output to 10,000 tons/year by Q2 2026 via upgrades, with potential further expansions to 20,000 tons/year (VC) and 5,000 tons/year (FEC) based on market conditions.
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