EFORT Intelligent Equipment Co Ltd

Efort announced on September 30 that the company and its controlling subsidiary Qizhi Robot received a total of 65 million yuan in government subsidy funds for the phased acceptance of a lead project, accounting for 13.08% of the company's most recent audited net profit attributable to the parent. This subsidy is a government grant related to income and is expected to have a certain positive impact on the company's future profit. The specific accounting treatment and its impact on the current year's profit and loss remain subject to the results confirmed by the auditor's annual audit. Efort is mainly engaged in the research, development, production, and sales of core underlying technologies and components for intelligent robots, intelligent robots, and system integration. The 2026 semi-annual report shows that during the reporting period, the company achieved total operating revenue of 656 million yuan, a year-on-year increase of 28.93%; net profit attributable to the parent was a loss of 56.9258 million yuan, compared with a loss of 152 million yuan in the same period last year; non-GAAP net profit was a loss of 110 million yuan, compared with a loss of 159 million yuan in the same period last year; net cash flow from operating activities was 27.1218 million yuan, compared with negative 171 million yuan in the same period last year.

At the 2026 World Robot Conference, industrial robot companies showed a clear split in their approach to humanoid robots. Established players such as EFORT, Luoshi Robotics, and STEP have already launched humanoid robot products, while companies like Jingcheng Electromechanical still focus mainly on traditional products such as ultra-high-speed desktop robots and wafer transfer robots. ABB, KUKA, and FANUC did not attend this year. Some companies believe that humanoid or wheel-arm robots can directly replace existing workstations and adapt to flexible scenarios, and that rising medical and household demand, policy support, and capital inflows are driving deployment. As of December 2025, investment deals in China's embodied intelligence and robotics sector reached 744, with total financing of 73.543 billion yuan. However, other companies argue that traditional industrial robots still have clear efficiency and cost advantages in fixed repetitive tasks, and that humanoid robots are not simply an upgraded version but a new technological route, so they are choosing the pragmatic path of industrial robots plus AI. Upstream suppliers of harmonic reducers, motors, and joint modules have launched lightweight products, but 80 percent of harmonic reducers are still sold to the industrial and collaborative robot sectors. Humanoid robots account for only a small share for now, though purchase volumes are growing rapidly.

Efort has released a revised report on its plan to purchase assets through share issuance and cash payment, proposing to acquire 100% equity of Shanghai Shengpu Fluid Equipment Co., Ltd. for approximately 1.074 billion yuan. The transaction will be implemented in two parts. Efort will issue shares and pay cash to 10 counterparties including Zhiqian Industrial to acquire 95.97% of Shengpu's shares for 1.033 billion yuan. At the same time, it will acquire the remaining 4.03% stake from Shanghai Yiyao and Gongqingcheng Kaiyi in cash for approximately 41.2035 million yuan. The share issuance price is 17.96 yuan per share, with a total of approximately 28.7449 million shares to be issued, accounting for 5.22% of the company's total share capital after issuance. Shengpu is a national-level specialized and sophisticated 'little giant' enterprise. Its revenue in 2024 and 2025 was 351 million yuan and 338 million yuan respectively, with net profit attributable to the parent company of 67.55 million yuan and 52.55 million yuan respectively. The performance commitment period covers three consecutive fiscal years after completion of the transaction. Shengpu's net profit attributable to the parent company, excluding non-recurring gains and losses, share-based payments, and performance bonus effects, must be no less than 80 million yuan, 90 million yuan, and 100 million yuan respectively. The transaction is still subject to review and approval by the Shanghai Stock Exchange and registration approval by the China Securities Regulatory Commission.