Robot concept stocks jumped in the Hong Kong. Shares of Sanhua Intelligent Controls surged 9.6%, Johnson Electric rose 8.7%, Horizon Robotics climbed more than 3%, and Cowell e Holdings advanced over 1%.

On the news front, Goldman Sachs highlighted that Sanhua is a global leader in HVAC control and thermal management components. The firm expressed optimism about its growth potential in humanoid robot actuators, leveraging its solid global market leadership in HVAC components and electric vehicle thermal management parts. Goldman Sachs predicted that Sanhua's revenue and net profit compound annual growth rate (CAGR) would reach 19% between 2025 and 2030. The bank views humanoid robots as a significant long-term technological trend, and Sanhua, as a highly visible actuator assembler, is poised to occupy a critical role in the supply chain. The report forecasts that by 2030, this segment will contribute 25% of total revenue and 18% of net profits.

CICC stated that the robotic joint assembly business introduces a completely new growth trajectory for the company. Sanhua benefits from synergies in motor and electronic control technologies, large-scale mass production capabilities, and upstream-downstream industry chain coordination. Currently, the company holds multiple patents in the field of robotic actuators, further strengthening its competitive advantage. Additionally, it has established overseas production bases in Poland, Thailand, Vietnam, and Mexico, along with 13 factories abroad, enabling localized capacity support. Between 2017 and 2024, its overseas revenue accounted for over 45% of the total. CICC believes Sanhua has built strong moats in areas such as lean production management, customized development for global clients, and ample long-term R&D reserves, empowering the company to achieve stable growth in its traditional core business and rapid scale-up in new ventures.