Zhaowei Machinery & Electronics (02692) rose more than 9% on its second day of trading, reaching a new high of HK$84.55. As of the time of writing, the stock was up 9.66% to HK$80.05, with a turnover of HK$212 million. On the news front, after the market close on March 6, the Shanghai and Shenzhen Stock Exchanges announced adjustments to the list of eligible stocks for the Hong Kong Stock Connect, effective March 9, with Zhaowei Machinery & Electronics being added to the list.
According to its prospectus, based on 2024 revenue, the company is the largest provider of integrated micro transmission and drive system products in China and the fourth largest globally, with market shares of 3.9% and 1.4%, respectively. Its product portfolio primarily includes transmission systems, micro motor systems, electronic control systems, and key supporting plastic injection parts for micro transmission and drive systems. The downstream applications for its products mainly encompass the automotive sector, advanced industrial and smart manufacturing, medical technology, consumer technology, and embodied intelligent robots.
Guotai Haitong Securities noted that in July 2025, the company launched its new generation of dexterous hands, the DM17 and LM06. The DM17 utilizes a fully direct-drive solution, features 17 active degrees of freedom, offers an optional electronic skin, and is capable of performing complex and precise movements. The LM06 has 6 active degrees of freedom and possesses strong gripping force, suitable for high-intensity operational scenarios. The company has deep expertise in the field of micro transmission, and the launch of its dexterous hand products signifies its ability to provide downstream customers with full-stack technical solutions.
For the period from January to September 2025, the company's embodied intelligent robotics segment generated revenue of RMB 15.53 million, a year-on-year increase of 281%, marking the first achievement of scaled sales in this segment. The brokerage believes the humanoid robotics industry has the potential to provide a new growth driver for the company's performance.