Joyoung Clarifies No Strategic Partnership with Huawei; Two-Day Cumulative Deviation Reaches 23.65%

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Joyoung issued an announcement on September 29 to clarify market rumors, explicitly stating that the company has no strategic partnership with Huawei. The announcement showed that the company's stock closing price deviation over the two consecutive trading days of September 28 and 29, 2026, cumulatively reached 23.65%. The company currently holds a 7.92% stake in Deep Thinking Artificial Intelligence Robot Technology (Beijing) Co., Ltd., and its connection with Huawei mainly stems from both parties holding equity in Deep Thinking. In addition, the company, through its subsidiary Hangzhou Joyoung Small Appliances Co., Ltd., holds a stake in Xiangke Intelligent Technology (Beijing) Co., Ltd., representing a financial investment in the robotics-related field, with related business still in an early stage. In the first half of 2026, Joyoung achieved revenue of 3.489 billion yuan and net profit attributable to the parent of 71.77 million yuan.

Off-coverage companies 3

深思考人工智能机器人科技（北京）有限公司Private± Mixed
relevance

Joyoung holds a 7.92% stake in Deep Thinking, which is the source of the Huawei connection rumor; no operational news about Deep Thinking itself.

HuaweiPrivate± Mixed
relevance

Joyoung clarified it has no strategic partnership with Huawei; Huawei is only linked via both holding equity in Deep Thinking, no new development for Huawei.

享刻智能技术（北京）有限公司Private± Mixed
relevance

Joyoung's subsidiary holds a financial-investment stake in Xiangke Intelligent, with related business still in an early stage; no concrete development.

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