Introduction#
Chinese robotics stocks experienced varied performance on Monday following a notable display of humanoid technology during a half-marathon in Beijing over the weekend.
Performance of Established Players#
Shares of well-known robotics companies declined as investors expressed concerns about increased competition in this rapidly growing sector. The half-marathon saw impressive performances from humanoid robots, particularly from Honor, a smartphone maker that recently entered the robotics field.
Honor's Impressive Showing#
Honor's flagship robot completed the 21-kilometer race in an impressive time of 50 minutes and 26 seconds, outpacing the human world record. Honor, which is a spinoff of Huawei, dominated the event by securing all three podium positions with its robots. However, it's important to note that Honor is not publicly traded.
Mixed Reactions Among Other Stocks#
In contrast, shares of companies that supplied technology for Honor's robot, such as Lingyi iTech Guangdong Co, Lens Technology Co Ltd, and AAC Technologies Holdings Inc, saw gains between 3% and 4%. Other robotics stocks had mixed results, as Honor's entry into the humanoid sector could challenge established players. Ubtech Robotics Corp Ltd, which focuses on humanoid robots, saw its shares drop by 3.6% in Hong Kong. Additionally, parts suppliers like Hesai Group and Orbbec Inc also experienced declines.
Broader Market Trends#
The Hang Seng China A robotics index, which tracks companies involved in robotics, fell by 0.2%. Meanwhile, Manycore Tech Inc, a company working on spatial artificial intelligence technology applicable to robotics, surged approximately 51% after its recent public listing in Hong Kong markets. This indicates a growing interest in innovative technologies within the sector.