Recently, I’ve been observing some progress from Ningbo Huaxiang, which is quite interesting. This company mainly manufactures automotive parts, but has recently made significant moves in the humanoid robot field.

Let’s start with some key dates—on December 23rd, Huaxiang Qiyuan signed a contract with a leading domestic robot joint manufacturer. Over the next two years, they will undertake the production of joint products for this client. More directly, mass supply will begin from January 2026. This is not just a planning stage; real orders are being finalized.

From a manufacturing perspective, what’s interesting about this cooperation is Huaxiang Qiyuan’s plan to create differentiated joint components based on PEEK material. They have accumulated years of experience in precision manufacturing, which gives them a competitive edge when applied to robot joints.

Another aspect is their collaboration with Dahuang Robotics. On December 22nd, they signed a strategic agreement focused on a six-degree-of-freedom dexterous hand. The division of responsibilities is clear—Dahuang handles product design and servo cylinder supply, while Huaxiang Qiyuan is responsible for mass production, assembly, and customer sales. Under this model, Huaxiang Qiyuan is shifting towards becoming a “hardware manufacturing solution provider.”

The logic behind this is as follows: the humanoid robot sector is currently very hot, with high demand for core components. Through these two collaborations, Huaxiang Qiyuan is effectively positioning itself within the robotics industry chain. They are no longer just riding the automotive parts wave but are aiming to open a second growth curve.

From a financial perspective, institutions forecast EPS for 2025-2027 to be 0.57/1.81/1.99 RMB respectively. Considering valuation multiples of similar companies and the growth potential of the humanoid robot sector, a 22x PE ratio for 2026 is applied, with a target price of 39.82 RMB. Of course, these figures are based on the premise that the collaborations proceed smoothly and that orders translate into real revenue.

With stable automotive core business and breakthroughs in new ventures, this dual-driven model is indeed attractive for capital. However, the key will be the subsequent execution—order volume, gross margin, and whether they can maintain an advantage in the highly competitive humanoid robot market.