Robots are joining celebrities as featured performers in the Spring Festival Gala. On February 16, Lunar New Year's Eve, robotics companies including Magic Atom, Galaxy General, Unitree Robotics, and Songyan Dynamics appeared on the 2026 CCTV Spring Festival Gala. Various local satellite TV galas also featured robots in performances and transitions.
This collective showcase of technological prowess is more than just an audio-visual spectacle; it serves as a window for capital markets to observe the pulse of the embodied intelligence industry. As robots transition from laboratories and factory floors to the center stage of family reunions, they are supported by an ecosystem woven together by numerous listed companies. Some listed firms have already anchored key players in the sector through direct or indirect equity investments, while others are deeply embedded as core suppliers or strategic partners.
The question remains whether this "group show" at the Gala can ignite a new industry cycle, much like Unitree Robotics did in 2025. Behind the glamorous stage, what is the true temperature of the industry?
Feedback from frontline companies reveals a more cautious reality beyond optimistic expectations. Several listed companies regarded by the market as "concept stocks" admit that related businesses are still largely in the market development, sample testing, or small-batch order stages, with minimal contribution to current performance.
United Nova Technology Co.,Ltd.'s corporate venture capital platform, Xinlian Capital, participated in Magic Atom's strategic financing in 2025. The company maintains a strategic partnership with Magic Atom. According to disclosures, United Nova primarily offers one-stop chip system foundry services. In the robotics application field, the company's VCSEL light sources and scanning mirrors for robot LiDAR have achieved mass production. Miniaturized drive modules for dexterous robotic hands have been designated by leading domestic enterprises and are expected to enter mass production in the first quarter of 2026.
Zhejiang Xiasha Precision Manufacturing Co.,Ltd. mentioned Magic Atom twice in its 2024 annual report and 2025 interim report, referring to the latter as a newly developed "client with business potential." The company has established a product layout in humanoid robot components, including precision gears, reducers, and planetary roller screws. Currently, its precision gears and reducers are supplied to several well-known robot manufacturers domestically and internationally, while screw products are in the sample testing and small-batch order phase.
In May 2025, Miracle Automation Engineering Co.,Ltd. established a joint venture, Wuxi Tianqi Galaxy Robot Co., Ltd., with Galaxy General, each holding a 50% stake. The joint venture focuses on promoting the application of embodied intelligent robots in industrial manufacturing sectors such as automotive production and new energy batteries, aiming to overcome challenges in scaling embodied intelligence solutions in industrial settings. In December of the same year, Miracle Automation participated in Galaxy General's financing, acquiring no more than 0.38% equity.
Sichuan Joyou Digital Technologies Co.,Ltd. has also established a dual "capital + business" link with Galaxy General. Beyond making equity investments in Galaxy General through an industrial fund, the two companies recently signed a Channel Partner Cooperation Agreement, establishing a deep agency partnership in specific vertical industries. Sichuan Joyou will act as Galaxy General's gold partner in four vertical sectors—pipe network, cultural tourism, education, and data collection centers—responsible for marketing and sales of related robot products in these industries.
SHOUCHENG is one of the key industrial investors in Songyan Dynamics, leading its funding round in 2024 and providing continued support in subsequent rounds. According to SHOUCHENG's WeChat public account, the company has long been deeply involved in the robotics industry, investing in dozens of core enterprises through the Beijing Robot Fund and related industrial funds, including Songyan Dynamics, Unitree Robotics, Galaxy General, Accelerated Evolution, and Star Chart.
In November 2025, Maxvision Technology Corp. signed a strategic cooperation agreement with Songyan Dynamics, leveraging technical complementarity and resource integration to build a collaborative system spanning "R&D—production—scenarios—market." In December 2025, Hcr Co.,Ltd. reached a strategic cooperation with Songyan Dynamics, securing an order for 1,000 units of Songyan's new Xiaobumi humanoid robots. The two companies also announced plans for deep business collaboration.
Several listed companies have disclosed business dealings with Unitree Robotics. Jiangsu Azure Corporation is a key lithium battery supplier for Unitree. Ninestar Corporation and Wuxi Nce Power Co.,Ltd. have both批量 shipped products to companies like Unitree. Wuxi Boton Technology Co.,Ltd. signed a cooperation agreement with Unitree, covering secondary development of industrial robots. Digital China Group Co.,Ltd. has partnered with Unitree and other industry leaders, not only distributing products but also co-creating solutions for specific scenarios such as inspection and security.
In January 2025, Unitree Robotics gained fame with a humanoid robot dance performance on the Spring Festival Gala stage. That year, the robotics industry grew rapidly, repeatedly stepping into the spotlight. Whether this year's Gala showcase will reignite the humanoid robot boom remains uncertain.
Recently, reporters posing as investors called multiple listed companies to gauge industry expectations from the frontline.
Hangzhou Liangzhi Joint Technology Co., Ltd., in which Zhejiang Hongchang Electrical Technology Co., Ltd. holds a stake, engages in the R&D and production of harmonic reducers, planetary reducers, planetary joints, and harmonic modules. Its main clients include Climb Dynamics, Unitree, Lingbao, Stardust Intelligence, and 58 Intelligence, while it actively engages with premium domestic and international clients like Cloud Deep, Nidec, and Magic Atom. In February 2026, Zhejiang Hongchang announced plans to acquire an additional 21% stake in Liangzhi Joint Technology, aiming to gain control.
Regarding the development prospects of humanoid robot business, Zhejiang Hongchang stated that Liangzhi Joint Technology is still in its startup phase with a small overall scale, posing risks of slower-than-expected client expansion. Moreover, constrained by clients' R&D cycles and mass production progress, current orders and signed agreements are limited in scale.
Zhejiang Xiasha Precision indicated that growth expectations for robotics-related business depend on market scaling. Currently, reserved clients are still in the sample testing and small-batch order phase. Regarding the Gala's impact on the robot market, a company representative noted that "a short-term surge is unlikely, as the market volume has not yet materialized."
Leveraging its core automotive components business, Ningbo Joyson Electronic Corp. has strategically extended into the embodied intelligent robot sector, serving key clients including leading overseas robot firms and domestic leaders like Zhiyuan Robot and Galaxy General. However, related business is still in the early stages, contributing less than 0.1% to revenue. A company representative mentioned that robot appearances at the Gala have a positive guiding effect, but the industry remains exploratory, with core participants' technical routes not yet fully converged.
On January 27, 2026, Miracle Automation disclosed that its joint venture with Galaxy General, Tianqi Galaxy, has begun applying embodied intelligent robots in typical industrial manufacturing scenarios like the automotive supply chain and 3C manufacturing. These activities are still in the market development phase, with Tianqi Galaxy's operations having a minor impact on 2025 performance and uncertain effects on future results.
Leader Harmonious Drive Systems Co.,Ltd., primarily engaged in R&D and production of precision transmission devices, stated in its 2025 annual performance forecast that the embodied intelligent robot sector is at a critical turning point. Leading clients are gradually moving from R&D to small-batch production, driving significant year-on-year growth in the company's related product business, which has become a key engine for performance growth.
Leyard Optoelectronic Co.,Ltd. participates in the embodied intelligence business through core capabilities like motion capture technology and high-precision motion data, serving leading robot manufacturers such as Unitree, Galaxy General, Titan Tiger, and Songyan Dynamics. However, related business accounts for a small proportion, with AI and spatial computing contributing 4.22% to revenue in the first half of 2025.
While consolidating its traditional automotive components优势, Hunan Meihu Intelligent Manufacturing Co.,Ltd. is expanding into embodied intelligent functional components. Newly developed core component projects for embodied intelligence involve over ten leading robot clients, including Tencent, a leading Hangzhou robot manufacturer referred to as Company Y, Galaxy General, and Ant Group. In October 2025, Hunan Meihu stated that its robotics division was established in September 2025, with a designed annual production capacity of 50,000 sets for harmonic reducer production lines and joint modules already being supplied.