Driven by Tesla's trillion-dollar compensation proposal and accelerated capitalization processes of domestic enterprises, humanoid robot concept stocks have shown significant gains recently.
Recently, humanoid robot concepts have attracted considerable investor attention. In the secondary market, from September 5 to 17, the Wind Humanoid Robot Index outperformed the Shanghai Composite Index with a 14.68% gain. Within the sector, companies like Wolong Electric Group Co.,Ltd. (600580.SH), Zhejiang Sanhua Intelligent Controls Co.,Ltd. (002050.SZ), and Suzhou Veichi Electric Co.,Ltd. (688698.SH) recorded stage gains exceeding 40%.
The renewed leadership of humanoid robot concept stocks stems not only from positive news regarding humanoid robots but also from the notably improved first-half performance of most humanoid robot concept stocks. Additionally, active institutional bullishness has been a crucial factor driving the outstanding performance of humanoid robot concept stocks.
**Continuous Positive Developments**
Recently, Tesla proposed an unprecedented compensation agreement for CEO Musk, with a potential value of approximately $1 trillion, representing the largest executive compensation package in U.S. corporate history. This high-profile proposal sets a series of performance benchmarks, including growing the company's market value to $8.5 trillion, delivering 1 million AI robots, and commercially operating 1 million Robotaxis.
Regarding humanoid robots, Musk recently stated that approximately 80% of Tesla's long-term value will come from humanoid robots. Previously, Musk claimed the earliest achievement of producing 1 million Optimus units annually by 2029. Now, his compensation plan adjusts the target to cumulative delivery of 1 million units by 2035.
Beyond Tesla, domestic leading robot companies like Unitree and Agibot are also accelerating capitalization. On September 2, Unitree Technology, holding 60%-70% global market share in quadruped robots, announced it expects to submit listing application documents to securities exchanges between October and December 2025.
Agibot entered the capital market through acquiring Swancor Advanced Materials shares. According to Swancor's July 9 announcement regarding the tender offer report summary, Shanghai Agibot Hengyue Technology Partnership (Limited Partnership) plans to acquire 24.99% equity of the listed company held by SWANCOR Samoa through agreement transfer. Following Swancor's July 9 announcement of the equity acquisition, the company's stock price hit consecutive daily limits. By September 17, Swancor's stock price had risen 1086.38%, showing strong performance.
Before Unitree and Agibot accelerated capitalization, companies like CloudMinds, MECH-MIND, SEER Robotics, and Standard Robots had already submitted Hong Kong listing applications this year. For instance, Standard Robots submitted its prospectus to the Hong Kong Stock Exchange on June 23. According to Daxue Consulting data, as of December 31, 2024, by sales volume, Standard Robots ranks as the world's fifth-largest industrial intelligent mobile robot solution provider and fourth-largest industrial embodied intelligent robot solution provider.
Furthermore, the domestic humanoid robot industry recently welcomed major orders. StarDust Intelligence announced signing a thousand-unit industrial robot order with SEER Robotics, planning phased deployment over two years in industrial, warehousing, and logistics scenarios - the first thousand-unit commercial order for domestic humanoid robots. UBTECH reached a 250 million yuan embodied intelligent humanoid robot procurement contract with a domestic leading enterprise, setting a new global record for single humanoid robot orders. Zhongqing Robotics and Duolun Technology formally signed a strategic cooperation agreement, committing to procure no less than 2,000 embodied intelligent humanoid robots over three years for key application scenarios. Zhipingfang and HKC reached strategic cooperation, with HKC planning to deploy over 1,000 Zhipingfang embodied intelligent robots across global production bases within three years.
Policy support is equally strong for the humanoid robot industry. Open Source Securities judges in its latest research report that high-level domestic industrial policy combinations are expected. Domestic robot shipments may see 10-fold growth by 2026. The firm expects the robotics sector to potentially initiate a major beta wave toward 2026 under domestic and international resonance in Q4.
**Most Companies Show Significantly Improved Performance**
Positive news has driven strong performance of humanoid robot concept stocks in the secondary market. According to Wind data, from September 5 to 17, the Wind Humanoid Robot Index rose 14.68%, outperforming the Shanghai Composite Index's 2.93% gain over the same period. Among sector constituents, Wolong Electric Group Co.,Ltd., Zhejiang Sanhua Intelligent Controls Co.,Ltd., Suzhou Veichi Electric Co.,Ltd., and others recorded short-term gains exceeding 40%. Companies like Shuanghuan Driveline, Shengyi Technology, Zhaoweidrive, and Sintex also performed excellently.
Notably, alongside the strong performance of humanoid robot concept stocks, related companies in reducers, ball screws, sensors, dexterous hands, and other areas within the humanoid robot industry chain are also rising synchronously. For example, the Dazhihui Reducer Index gained 16.11% over the same period, with constituents Henghejingmi, Meihu, and KEDALI posting stage gains above 30%.
The strong performance of humanoid robot concept stocks, beyond the aforementioned positive factors, also stems from significantly improved fundamentals in the first half. According to Wind data, the Wind Humanoid Robot sector achieved total revenue of 1,234.628 billion yuan, up 15.8% from 1,066.212 billion yuan in the same period last year, and net profit attributable to shareholders of 98.829 billion yuan, up 22.12% from 80.926 billion yuan in the same period last year.
Individually, among 110 constituent stocks, 79 companies achieved revenue growth in the first half, representing 71.82%; 57 companies achieved net profit growth, representing 70.91%. At the end of 2024, 72 companies achieved revenue growth (65.45%), and 57 companies achieved net profit growth (51.82%).
In revenue growth, Jingpintezhuang and Orbbec-UW grew 112.6% and 104.14% respectively, while Easyguard, Shengyi Technology, Roborock, and other companies also exceeded 50% growth. For net profit attributable to shareholders, 22 companies achieved doubled performance growth, with China Northern Rare Earth growing 1951.52% year-over-year, while Hongying Intelligence, Yuanda Intelligence, Shengyi Technology, and others exceeded 300% growth.
With outstanding performance, China Northern Rare Earth performed excellently in Q3, with stock prices rising 105.05% from July 5 to September 17. Public information shows China Northern Rare Earth's humanoid robot concept relates to long-term agreements signed with Tesla and Unitree Technology, with humanoid robot magnetic material orders increasing to 30% of total orders.
In the investor relations activity record released September 10, China Northern Rare Earth stated: "The company is accelerating capacity construction and technological upgrades. Antai North, jointly established with subsidiary Northern Magnetic Materials and Antai Technology, has completed a 5,000 tons/year rare earth permanent magnet industrialization project. Jointly investing with Ningbo Zhaobao Magnetism, Suzhou Tongren Drive, and Ningbo Xici Technology to establish Northern Zhaobao, implementing a 3,000 tons/year high-performance neodymium iron boron magnetic material project to further meet magnetic material demands in high-end permanent magnet motors, robots, intelligent equipment and other fields."
Shengyi Technology also performed outstandingly among humanoid robot concept stocks from September 5-17, with stage gains of 35.44%. Reviewing its performance over the past year, since rising from early February 2024, Shengyi Technology's stock price has gained over 21 times.
Public information shows Shengyi Technology's PCB products are applied in humanoid robot fields. As early as February this year, investors asked about the company's humanoid robot business layout on interactive platforms. The company replied: "The company's PCB products applied in humanoid robot fields have achieved small-batch shipments." Recently, the company further stated it has established cooperative relationships with some domestic and international leading enterprises in this field.
**Institutions Actively Bullish**
Regarding currently hot humanoid robot concepts in the market, institutions have been actively increasing positions. Taking fund holdings as an example, all 110 companies in the Wind Humanoid Robot sector received fund holdings in the interim period, with 62 companies having fund holdings exceeding 5% of tradable shares. At the end of 2024, this figure was 49 companies.
Among humanoid robot concept stocks held by funds, Ninebot-WD, Jingpintezhuang, Smartsens-W, and Roborock are all long-term heavy positions, with interim holding ratios above 36%. In market performance, from the beginning of the year to September 17, these companies rose 50.83%, 49.04%, 30.12%, and 39.9% respectively.
Comparing fund holding ratios between mid-2025 and end-2024, 76 of the 110 humanoid robot concept stocks received fund increases. The top 5 companies with highest increase ratios were Xianglou New Materials, Zhongchen Technology, Hechuan Technology, Smartsens-W, and Leisun Intelligent, increasing by 16.81, 12.36, 11.37, 10.76, and 10.00 percentage points respectively. Under active fund increases, as of September 17, these stocks rose 75.72%, 71.35%, 33.14%, 30.12%, and 72.91% year-to-date respectively.
Notably, Shengyi Technology, Shanghai Xiba, Wolong Electric Group Co.,Ltd., Zhongda Lide, and Changsheng Bearing are the top 5 performing companies among humanoid robot concept stocks, with year-to-date gains of 696.45%, 297.44%, 262.99%, 258.20%, and 223.85% respectively. Specifically, Shengyi Technology's PCB products apply to humanoid robot fields; Shanghai Xiba's solid-state batteries can be applied to humanoid robots and eVTOL fields; Wolong Electric Group Co.,Ltd. applies servo drive products to humanoid robots while also investing in Agibot; Zhongda Lide is the only domestic company mass-producing planetary, harmonic, and RV reducers simultaneously, and the only domestic supplier passing Tesla Optimus fourth-round verification, also serving as core supplier to domestic robot companies like Agibot and Unitree; Changsheng Bearing collaborates with multiple domestic and international robot manufacturers and related suppliers on R&D, with products in humanoid robot applications in exploration, research, and prototype phases.
Beyond institutional position increases, 75 humanoid robot concept stocks received institutional research since Q3. Looking at institutional research since September, 43 companies received research, including Inovance Technology, Estun, Shengyi Technology, Changsheng Bearing, and others. Inovance Technology received the most institutional research in September with 22 visits, followed by Estun with 6 visits.
Regarding humanoid robot layout questions raised during institutional research, Inovance Technology stated: "Facing the humanoid robot industry, the company is actively developing motors, drives, actuator modules, and other humanoid robot-related component products. Meanwhile, based on manufacturing scenarios and factory operation scenarios' value loops, starting from actual customer scenario demands, we provide scenario-based products and solutions for customers."
(Individual stocks mentioned are for analytical examples only and do not constitute trading recommendations.)
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