Celanese Partners with VIGOR to Develop Lightweight Plastic Joints for Humanoid Robots

Analysts are bullish on Shenzhen-listed Shuanghuan, a gear box supplier, despite humanoid robots remaining largely conceptual. Deutsche Bank analysts noted that Tesla has been co-developing a new type of gear box, called a reducer, with Shuanghuan for three years, potentially for use in humanoid robot waist joints. Shuanghuan will retain a controlling stake in the planned IPO of its robotics gearbox subsidiary, Fine Motion, which contributed about 5% of the parent's consolidated revenue and net profit in 2025. Deutsche Bank rates Shuanghuan a buy with a price target of 45 yuan ($6.70), while Bernstein analysts, who rate the stock outperform with a 60-yuan target, believe the market underestimates its robotics opportunity, especially as Chinese automakers expand into humanoids. UBS also rates Shuanghuan a buy with a 50-yuan target, trimming it by 3 yuan after second-quarter earnings pressure from key client BYD, but sees AI and robotics unlocking medium- to long-term growth. Morgan Stanley's wrapup of the World Robot Conference highlighted a preference for leading parts makers like Shuanghuan, citing rising standards for component suppliers as deployment begins.

Zhaofeng Shares disclosed its 2026 semi-annual report on the evening of August 28. In the first half of the year, the company achieved operating revenue of 346 million yuan, up 0.51 percent year on year, while net profit attributable to the parent company was 14.34 million yuan, a year-on-year decline. The decline was mainly due to the high base of fair value gains from Chery Automobile's Hong Kong listing in the same period last year and fluctuations in the capital market during the current period. The company's domestic revenue performance was particularly strong, reaching 260 million yuan, up 45 percent year on year, and it has established cooperation with mainstream automakers such as Changan Automobile, Geely Automobile, and Chery Automobile. In the field of embodied intelligence, cross roller bearing products have already achieved mass delivery, multiple screw products have entered the small-batch trial production stage, and research and development investment increased 19.98 percent year on year to 25.66 million yuan. The company plans to issue convertible bonds of no more than 1.4 billion yuan to fund projects including the industrialization of high-end precision components for embodied intelligent robots and intelligent driving for automobiles. It also indirectly holds equity in robotics companies such as Leju Intelligent and Yunshenchu, with Leju Intelligent's IPO on the ChiNext board already accepted.

Xinje Electric released its 2026 interim report on August 26. During the reporting period, the company achieved operating revenue of 1.102 billion yuan, up 25.60 percent year on year. Net profit attributable to the parent company was 155 million yuan, up 21.98 percent year on year. Non-GAAP net profit was 132 million yuan, up 12.54 percent year on year. Among these, drive system product revenue was 564 million yuan, accounting for 51.23 percent of the total and up 30.27 percent year on year. Programmable controller revenue was 366 million yuan, accounting for 33.20 percent and up 16.57 percent year on year. Embodied intelligence business revenue was 60 million yuan, surging 114.70 percent year on year and becoming the largest growth engine. The company said the profit growth mainly benefited from recovering demand in downstream new energy, semiconductor, and robotics sectors, as well as the commercial deployment of core components for humanoid robots. Research and development expenses were 109 million yuan, up 28.15 percent year on year, supporting technological breakthroughs in key components such as coreless motors and frameless torque motors. Looking ahead, the company is optimistic about opportunities brought by equipment renewal and the industrialization of humanoid robots, but it needs to watch for intensifying industry competition and accounts receivable risks.

Leadshine Intelligent released its 2026 semi-annual report. In the first half, it achieved revenue of 1.247 billion yuan, up 39.92 percent year on year, and net profit attributable to the parent of 194 million yuan, up 62.79 percent year on year. Second-quarter revenue and net profit rose 44.1 percent and 92.5 percent respectively from a year earlier. The company's operating revenue has accelerated for six consecutive quarters, with the growth rate climbing from 2.4 percent in the first quarter of 2025 to 44.1 percent in the second quarter of 2026. Servo system revenue in the first half was 661 million yuan, up 54.82 percent year on year, and its domestic servo market share remained firmly in the top two. The humanoid robot business has become a second growth curve. Orders in hand for frameless torque motors exceeded 1 million units, and the company is building an automated production line with annual capacity of 3 million units. It has achieved in-house mass production of core components including planetary joint modules, harmonic joint modules, and multi-degree-of-freedom dexterous hands, and has secured batch orders from mainstream domestic robot manufacturers.