Rumors initially spread on domestic platforms were subsequently disseminated through overseas social media, dressing the story in an "international certification" guise before returning to platforms frequented by A-share investors, ultimately sparking significant volatility in the stocks related to Zhejiang Sanhua Intelligent Controls (002050.SZ) and the broader sector.
Within a mere half hour, not only did Zhejiang Sanhua Intelligent Controls experience a sharp surge to its daily limit, but over 20 related stocks also hit their daily limit or rose by more than 10%. A rumor regarding "export to domestic sales" instantly ignited a frenzy in the capital market.
On October 15, at 1 PM, the trillion-yuan giant in the humanoid robot concept, Zhejiang Sanhua Intelligent Controls, suddenly shot up after its opening, reaching the daily limit of 44.18 yuan per share within approximately half an hour, with a single-day trading volume soaring to 11.98 billion yuan; its Hong Kong shares also surged by 12.98%.
The catalyst for this sudden performance was a rumor claiming that "Zhejiang Sanhua Intelligent Controls secured a massive $685 million order for Tesla’s Optimus linear actuators." The reason this rumor led to significant movements in both Zhejiang Sanhua Intelligent Controls and the humanoid robot sector is linked to its dissemination path and methodology.
According to investigations, the rumor first emerged through overseas social media accounts, strategically released after the morning session and before the afternoon session of the A-share market, disguised as a report from domestic media. It was then disseminated further through other Tesla-related overseas social media accounts, cloaking the rumor in an “international certification” guise. Subsequently, it spread widely on stock discussion platforms like Xueqiu and Dongfang Caifu that attract A-share investors, ultimately reaching a broader audience of stock investors and successfully sparking volatility in the stock prices of related companies.
During the trading frenzy surrounding Zhejiang Sanhua Intelligent Controls, retail investors, institutions, and northbound capital rushed in, with the top five trading seats amassing a transaction volume close to 3.5 billion yuan. Data from the “dragon and tiger list” indicated that a well-known retail investor seat famously used by "Zhang Mengzhu" recorded net purchases exceeding 680 million yuan that day. Additionally, northbound trading and two institutional seats collectively bought over 960 million yuan.
However, contrasting with the “Zhang Mengzhu” seats, both northbound funds and institutions displayed clear signs of profit-taking after pushing prices up. Northbound trading sold about 610 million yuan of the stock, while two institutions sold 127 million yuan and 228 million yuan, with net selling amounts reaching approximately 77.4 million yuan and 83.2 million yuan, respectively.
The escalating rumor stirred stock prices On October 15, the stock price of Zhejiang Sanhua Intelligent Controls initially appeared subdued, but after the lunch break, it suddenly surged. Within just half an hour, the stock moved from a slight decline to the daily limit, with an intraday fluctuation exceeding 11%.
The abrupt change in the company’s stock was primarily catalyzed by a rumor regarding a "huge Tesla order" that circulated around lunchtime. The original source of this rumor was the overseas social media platform X.
A widely circulated screenshot shows that at 12:07 PM Beijing time on October 15, a user named "@tslaming" posted on their X account, claiming, based on domestic media reports, that Zhejiang Sanhua Intelligent Controls had secured an order from Tesla amounting to approximately 5 billion yuan for humanoid robots. This tweet even added that "this order volume is sufficient to produce at least 180,000 units of Optimus."
Approximately 40 minutes later, another user on X named "@TeslaNewswire" quoted the original tweet at 12:47 PM and claimed that "this will be a strong signal for the impending mass production of Optimus," while omitting the Chinese media source.
The extensive dissemination and attention the rumor received were facilitated by domestic internet platform shares. After two rounds of shares on overseas social media, posts began emerging in the comments section of Xueqiu and Dongfang Caifu, stating "overseas news claims Zhejiang Sanhua Intelligent Controls secured a 5 billion order from Tesla."
In reality, claims about Zhejiang Sanhua Intelligent Controls securing a massive order from Tesla are not new. The first appearance of such rumors occurred on September 29 on the domestic stock discussion platform Xueqiu, where a user named "Shaoxing Yongge" posted at 4:50 PM, stating that "Zhejiang Sanhua Intelligent Controls recently made significant progress in cooperation with Tesla, and on September 22, 2025, Tesla placed an order with Zhejiang Sanhua Intelligent Controls for core components of humanoid robots worth more than 5 billion yuan, focusing on linear joint products, requiring quarterly ramp-up deliveries starting in Q1 2026." This post has since been deleted by the author.
Subsequently, related rumors resurfaced on October 8 on Dongfang Caifu, where a user named "Simple Financial Overlord" followed up with a post titled "50 billion order finalized," which was also later deleted.
An investor interviewed disclosed that the rumor about the order had already circulated privately among investors as of September 22, with some confirming it as false, but the lack of public disclosure meant most were unaware.
Despite the similarities in the content of both rounds of rumors, the recent wave clearly had a more pronounced effect on the stock price of Zhejiang Sanhua Intelligent Controls. As the rumors spread, the trading volume surged after the afternoon opening on October 15, leading to a limit-up by around 1:30 PM, followed by multiple openings of the limit before eventually sealing the limit before 2 PM.
This capital frenzy did not last long. Late on the night of October 15, Zhejiang Sanhua Intelligent Controls issued a clarification stating that "the related order rumors are not true, and there are no significant matters that should be disclosed but have not been disclosed." Following this announcement, its Hong Kong shares fell sharply by over 6%, while A-shares corrected by nearly 3%.
The "export to domestic sales" packaging method, which is "obviously false" Industry insiders suggest that the reason the rumor claiming a "50 billion yuan giant order" could ignite the stock price of Zhejiang Sanhua Intelligent Controls is closely related to the dissemination pathways and techniques used.
Experts assert that when the rumor was first circulated, the choice of an overseas social media platform, combined with a fully English post by @tslaming, enhanced the perception of the message's credibility by framing it as quoting domestic media reports. For non-professional users, this implied the source of the news and elevated the perceived authenticity of the information.
Furthermore, the account relaying the information, @TeslaNewswire, directly associated itself with Tesla. Investigations revealed that this account specializes in publishing the latest news about Tesla, amassing nearly 50,000 followers. As of publication, the aforementioned tweet had received 110 retweets and over 77,000 views. Consequently, this domestic rumor was successfully packaged to resemble a piece of seemingly overseas Tesla information.
As the rumor fermented, the targeted dissemination approach can be likened to "precision bombing." Both stock forums and Xueqiu gathered a substantial number of stock investment users. Many users in the former had likely been following related stocks for a long time, while the latter significantly influences stock investment discussions.
Moreover, the timing of the overseas tweet's release was tactically chosen to fit between the closing of the morning session and the opening of the afternoon session, allowing ample time for fermentation. While the sudden movement of Zhejiang Sanhua Intelligent Controls drew media attention, reports verifying the situation were not published until after the A-share market had closed. Public records indicate that mainstream media initiated checks on the rumor at 15:01, immediately after market closure, with the company stating it was urgently verifying the information. It wasn't until the evening that the company announced that the aforementioned rumors were untrue.
Prior to this ordering rumor concerning Zhejiang Sanhua Intelligent Controls, foreign media had reported that Tesla’s humanoid robot Optimus had temporarily halted production due to technical challenges with its hand, reducing this year’s production target from 5,000 to 2,000 units.
A brokerage analyst remarked that in the tweet by @TeslaNewswire, the claim that Zhejiang Sanhua Intelligent Controls’ order was sufficient to produce at least 180,000 units of Optimus defies logic, labeling it an "obviously false" rumor.
How could such an "obviously false" rumor trigger a significant shift in a stock with a trillion-yuan market cap? Industry insiders indicated that the mature "grey industry chain" for "small essays" in the A-share market allows the fabrication of false information. By rephrasing the false news, it can be presented as seemingly reliable "inside information," influencing market psychology and triggering stock price surges.
"Washing" rumors is key, as the narrative typically spreads privately within the investment community before being posted by individual accounts on trading platforms or self-media. This is followed by engaging smaller media outlets to rephrase the news into what appears like credible reporting, ultimately achieving significant media attention and sharing.
In this particular case surrounding Zhejiang Sanhua Intelligent Controls, the aliases for the final step of rephrasing were the overseas X account @TeslaNewswire. Industry insiders noted that since Tesla is a US company, English messages carry greater deceptive power, making it harder for the market to distinguish truth from falsehood when information is translated through an intermediary. Furthermore, it’s challenging for domestic retail investors to verify foreign sources in real-time; combined with capital inflows, this makes it easy for them to follow market trends.
"Simultaneously, such rumors are often heavily fabricated with specific order amounts or delivery times included to enhance credibility. The key information, especially figures, can trigger sentiment monitoring systems and activate specific quantitative trading models, attracting a portion of quantitative funds first, followed by retail funds adding to the momentum, drawing in unwitting investors regardless of the news’s validity," industry insiders stated.
"Zhang Mengzhu," institutions, and others aggressively buy over 2 billion Following the fermentation of the rumors, capital poured in, playing a crucial role in pushing Zhejiang Sanhua Intelligent Controls to the price limit.
Data from the "dragon and tiger list" indicates that the brokerage handle with the most purchases of Zhejiang Sanhua Intelligent Controls that day was Guotai Securities’ Shanghai Pudong New Area branch on Haiyang West Road, with a buying amount of 682 million yuan.
As widely rumored in the market, this brokerage was a commonly used seat for the well-known retail investor "Zhang Mengzhu." Public information shows that this brokerage was originally known as Guotai Junan's Shanghai Haiyang West Road branch. Following the merger of Guotai Junan and Haitong Securities, the branch adopted its current name.
In recent months, this brokerage has frequently participated in popular themes such as AI computing power and robotics. Before this incident involving Zhejiang Sanhua Intelligent Controls, this seat recorded net purchases of 237 million yuan in Zhejiang Rongtai on June 20, as well as purchases on September 24 and 25 of 62.8 million yuan for Shangwei New Materials, and purchases on September 12 of 482 million yuan and 982 million yuan for Chip Original and Industrial Fulian, respectively.
In addition to "Zhang Mengzhu," foreign and institutional buyers also massively acquired shares of Zhejiang Sanhua Intelligent Controls on the 15th.
According to transaction records, northbound trading bought 651 million yuan of shares on that day, placing it second among the top five buyers. The institutional special seats ranked third and fourth, purchasing 162 million yuan and 152 million yuan, respectively, while CITIC Securities' Anhui branch ranked fifth with a total purchase of 145 million yuan, selling 951,000 yuan, resulting in a net purchase of 144 million yuan.
The significant purchases from these seats were likely direct drivers behind the stock’s sudden limit-up on the 15th.
Transaction data also reveal that on the 15th, the total trading volume of Zhejiang Sanhua Intelligent Controls reached 119.8 billion yuan, with the total buying and selling from the top five trading seats exceeding 2 billion yuan, while sell totals reached 1.467 billion yuan. Overall, the aggregate trading volume neared 3.5 billion yuan, accounting for nearly 30% of the day’s total trading of the stock.
Prior to the announcement of the "Tesla 5 billion major order," trading in Zhejiang Sanhua Intelligent Controls was not active, and its performance appeared lackluster. That day, the stock opened slightly lower and quickly settled into a fluctuating state, with trading mostly confined between 39.7 yuan and 40.8 yuan until closing, with most traded volumes representing under 3,000 hands.
However, as the noon rumor began to ferment, trading volume surged quickly following the afternoon opening, with more than 140,000 hands trading recorded around 1:27 PM. The sudden influx of buy orders drove the stock price up rapidly, leading it to hit the daily limit by around 1:30 PM; although the price opened occasionally, it was soon sealed off again before 2 PM. Concurrently, its Hong Kong shares also rose, peaking over 13% before closing up by 12.92%.
Among the top five buying seats, Guotai’s Haiyang West Road branch served as the most influential player. According to data from the "dragon and tiger list," the buying transactions of this seat accounted for 5.69% of Zhejiang Sanhua Intelligent Controls’ total trading that day, while its selling amounted to only 73.1 thousand yuan, resulting in a significant net purchase of 681.87 million yuan. If calculated purely on the buy side, the brokerage's buy amount represented over 10% of the stock's total purchasing at that time.
Shifting tide with big capital pulling back? Despite the significant buying amounts, the operational directions of northbound funds and institutional seats appeared contrary to the "Zhang Mengzhu" seats, showing clear signs of profit-taking after raising prices.
Transaction data indicated that on the 15th, northbound trading-specific seats sold about 610 million yuan worth of Zhejiang Sanhua Intelligent Controls, achieving a net purchase of 40.55 million yuan, ranking first among the selling top five.
Following that, two institutional seats ranked second and third for selling, with amounts sold reaching 127 million yuan and 228 million yuan, respectively. The second’s institutional special seat had identical buying and selling amounts to the fourth seat, with selling reaching 228 million yuan and a net selling amount of 77.4 million yuan. Additionally, the third institutional special seat sold around 218 million yuan while buying 135 million yuan, culminating in a net selling amount of approximately 83.2 million yuan.
The fourth and fifth selling seats also indicated similar behaviors. On that day, they sold 153 million yuan and 129 million yuan while buying 2.153 million yuan and 5.548 million yuan, respectively, net selling 132 million yuan and 73.5 million yuan.
Similar scenarios had previously been observed. From September 16 to 18, Zhejiang Sanhua Intelligent Controls surged for three consecutive days, rising from 35.66 yuan at the previous close to 45.55 yuan, with a cumulative increase of approximately 9.89 yuan and a total gain of around 27%. During this period, northbound trading and institutional special seats also frequently appeared among the top five buyers for this stock.
Market data indicates that during these three days, the first and second buy seats were occupied by northbound trading, with total purchases amounting to 2.13 billion yuan, while total sales reached 2.31 billion yuan.
Simultaneously, the second-selling institution also derived from an institution. The next highest institution bought approximately 1.028 billion yuan while selling 1.069 billion yuan, reflecting a net selling amount of 41.06 million yuan, and another two institutional ranks sold amounts of approximately 249 million yuan and 397 million yuan, with sales approaching 578 million yuan and 371 million yuan, net selling amounts reaching 329 million yuan and 25.96 million yuan.
Comprehensive insights and precise interpretations can be found on the Sina Finance APP.