LAIFUAL (03952) shares surged more than 9% in Hong Kong trading, with the stock last up 8.9% at HKD 68.55, on turnover of HKD 18.31 million. Market sources indicate that Unitree Technology is set to list on the A-share market, fueling expectations that its IPO could spark a revaluation of the domestic robotics supply chain.

Entering 2026, China's robotics sector is witnessing a flurry of catalysts. Beyond accelerated capital market activity, real-world deployment of robotics applications is also expected to gain pace this year. Domestic robots are transitioning from "technical concepts" to "productivity tools," and Huafu Securities believes companies with core technologies and strong application capabilities are positioned to benefit first.

CICC International forecasts global humanoid robot sales will jump from fewer than 20,000 units in 2025 to 2 million units by 2030. Driven by higher reducer usage per robot, the demand for harmonic reducers in humanoid robots is projected to reach 32 million units by 2030, representing a compound annual growth rate of 178%. For fiscal year 2025, the unit cost of LAIFUAL's harmonic reducers stands at just RMB 433, which is 39% lower than the industry leader, Harmonic. CICC expects LAIFUAL to surpass Harmonic in sales volume by fiscal 2027, becoming China's top harmonic reducer shipper. This cost competitiveness is also seen as a key driver for the company's medium- to long-term overseas expansion.