The robot sector is booming. Can A-shares take off with the momentum?
Recently, Zibianliang Robotics completed a Series A+ financing round of nearly 1 billion yuan. This round was jointly led by Alibaba Cloud and Guoke Investment, with follow - on investments from China Development Financial, Sequoia China, and Yingce Capital. Existing shareholder Meituan Strategic Investment over - subscribed, while Legend Star and Junlian Capital continued to increase their investments. Mekabot completed a new round of financing of nearly 500 million yuan, with a powerful lineup of investors including Xiongan Fund, Dayang Motor, and Huachuang Capital. This capital will be used to accelerate the evolution of its full - stack technology for embodied intelligence of "eyes, brain, and hands" and further expand its product line and application scenarios. Beijing Xingdong Jiyuan Technology Co., Ltd. also completed a Series A financing round of nearly 500 million yuan, jointly led by CDH VGC and Haier Capital. The financing will support the R & D and mass production of humanoid robot hardware and software technologies. Beijing Galaxy General Robotics Co., Ltd. even secured a new round of financing of 1.1 billion yuan and is moving forward rapidly with the support of capital.
Data shows that in the first eight months of this year, the financing amount in the primary market of the robotics field reached 38.624 billion yuan, 1.8 times the total financing amount of 21.254 billion yuan in the whole year of 2024. This data intuitively shows the popularity of the robotics track. The large - scale influx of capital indicates that the industry is in a period of rapid development.
Analyzing the Deep - seated Reasons for the Booming Investment and Financing in the Robotics Track
The upsurge in investment and financing in the robotics track is not accidental but the result of the resonance of multiple factors such as technology, market, and policy.
From a technological perspective, the integration of large AI models and embodied intelligence has brought a qualitative leap to the development of robots. In the past, robots had many limitations in perception, decision - making, and interaction and were difficult to adapt to complex and changeable environments. Now, large AI models endow robots with a powerful "brain", enabling them to understand natural language, recognize complex scenarios, and make more intelligent decisions. Take humanoid robots based on large models as an example. They can master human behavior patterns through deep learning, achieve more flexible and natural movements, and show great application potential in fields such as home services and industrial production. This technological breakthrough has made capital see the broad development prospects of robots and stimulated investment enthusiasm.
The growth of market demand is an important driving force for the popularity of the robotics track. With the acceleration of the global aging process, the problem of labor shortage has become increasingly prominent. In the field of elderly care, the demand for professional caregivers is constantly rising, but the supply of human resources is difficult to meet it. The emergence of robots provides a new way to solve this problem. Elderly - care robots can undertake tasks such as companionship and care, reducing the burden on caregivers and improving service efficiency. In the industrial field, robots can operate in dangerous and harsh environments, realizing the automation and intelligence of the production process and improving production efficiency and product quality. The urgent market demand for robots has attracted a large amount of capital, hoping to seize the opportunity in this blue ocean.
Strong policy support has also created a good environment for the development of the robotics industry. The state has issued a series of policies, taking the robotics industry as an important development direction for future industries. For example, the Ministry of Industry and Information Technology released the "Guiding Opinions on the Innovative Development of Humanoid Robots", clearly proposing to break through the key technologies of humanoid robots and promote the innovative development of the industry. Local governments have also actively responded by setting up industrial funds, providing subsidies, etc., to attract enterprises and capital into the robotics field. Guangdong Province has set up an artificial intelligence and robotics industry fund to guide social capital investment; Chongqing has issued policies to promote the wide application of robots in manufacturing, agriculture, and other fields. Policy guidance and support have injected strong impetus into the development of the robotics industry and attracted a large amount of capital investment.
Positive Impact of Investment and Financing in the Robotics Track on the A - share Market
The booming investment and financing in the robotics track, like a strong east wind, has brought many positive impacts to the A - share market, promoting the transformation and development of the market.
1. Catalyze the market of A - share robotics concept stocks
In the A - share market, robotics concept stocks have become the focus of investors' attention. As the robotics track continues to heat up, the stock prices of related concept stocks have also risen. Since the beginning of this year, the stock price of Yuanda Intelligent has risen by more than 170%, and that of Mingzhi Electric has also increased by 130%. The rise of these stocks is not accidental but reflects the market's positive expectations for the development prospects of the robotics industry. A large amount of capital has flowed into robotics concept stocks, driving up the stock prices. According to statistics, in the first eight months of this year, the net inflow of main funds into the robotics concept sector reached tens of billions of yuan. The inflow of funds has not only driven up the stock prices but also increased the market's attention to robotics concept stocks, attracting more investors to participate. Investors' enthusiasm for robotics concept stocks reflects their firm confidence in the future development of the robotics industry. They believe that with continuous technological progress and gradual market expansion, robotics enterprises will have broad development space, and the value of related concept stocks will further increase.
2. Drive the development of the upstream and downstream of the A - share industrial chain
The robotics industrial chain covers multiple links from upstream core components to mid - stream body manufacturing and then to downstream application fields. Its development has had a significant driving effect on enterprises in the upstream and downstream of the A - share industrial chain.
In the field of upstream core components, A - share listed companies such as Green Harmonic, as the leading domestic enterprise in harmonic reducers, have a wide range of product applications in industrial robots and other fields, and their market share is constantly expanding. With the rapid development of the robotics industry, the demand for core components such as reducers has skyrocketed, and Green Harmonic's performance has also achieved steady growth. In the mid - stream body manufacturing link, enterprises such as Effort have increased R & D investment, improved product performance and quality, and actively expanded the market, achieving a certain market share in the fields of industrial robots and humanoid robots, bringing new growth points to the A - share market. In the downstream application field, the wide application of robots in industries such as industrial manufacturing, logistics and warehousing, and medical services has also brought more business opportunities to relevant A - share listed companies. Xinshida's integrated application of industrial automation and robot technology in the industrial field has won it more market orders and achieved excellent performance. The coordinated development of upstream and downstream enterprises in the robotics industrial chain has not only enhanced the competitiveness of the entire industrial chain but also injected new vitality into the A - share market, promoting the performance growth and market value improvement of relevant enterprises.
3. Attract more capital to flow into the A - share market
The popularity of the robotics track, like a powerful magnet, has attracted more domestic and foreign capital to flow into the A - share market. Many industrial capitals have increased their investment in robotics - related targets. Some traditional manufacturing enterprises, in order to achieve industrial upgrading and transformation, have actively deployed in the robotics field and carried out in - depth cooperation with robotics enterprises through investment, mergers and acquisitions, etc. Midea Group's acquisition of KUKA Robotics has not only enhanced its competitiveness in the field of intelligent manufacturing but also provided a broader space for KUKA Robotics' development in the Chinese market. Venture capital and private equity investment institutions have also focused their attention on the robotics track. They support the growth of robotics start - ups through early - stage investment and cultivate more potential listed companies for the A - share market. Sequoia Capital's investment in several robotics start - up companies has provided financial support for their technological R & D and market expansion, promoting their rapid development. Institutional investors such as public funds are also continuously increasing their allocation ratio of robotics - related stocks. In the holdings of public funds, the proportion of robotics concept stocks is gradually increasing, reflecting institutional investors' recognition of the long - term investment value of the robotics industry. The inflow of this capital has brought more funds and vitality to the A - share market and promoted the prosperity and development of the market.
Challenges Faced by the A - share Market under the Booming Investment and Financing in the Robotics Track
Behind the booming investment and financing in the robotics track, the A - share market also faces a series of challenges. These challenges, like hidden reefs in the dark, may pose a threat to the stable development of the market.
1. Risk of valuation bubbles
Under the crazy pursuit of the robotics track, the valuations of some A - share robotics concept stocks have shown obvious bubbles. Take Fengli Intelligent as an example. Its rolling price - to - earnings ratio once reached as high as 900 times, far exceeding the reasonable valuation range. This high valuation is not based on the company's actual performance and fundamentals but is the result of excessive market speculation. From the performance data, in 2024, the overall revenue growth rate of the robotics concept sector was only 18%, and the proportion of enterprises with a year - on - year decline in net profit reached 37%. However, the excessive market expectation of the "year of mass production" has attracted a large number of investors, driving up the stock prices artificially. Institutions predict that the market size of humanoid robots in China will be about 500 billion yuan in 2030, but the total market value of the A - share robotics sector has exceeded 2.8 trillion yuan, which means that the market has over - consumed several times the future market space in advance. Once the market enthusiasm cools down and the valuation returns to rationality, investors will face huge loss risks, and a sharp decline in stock prices may lead to a significant shrinkage of investors' assets.
2. Risk of intensified competition
With the popularity of the robotics track, more and more enterprises are pouring in, and the competitive pressure on relevant A - share enterprises is increasing day by day. In terms of technological R & D, enterprises need to continuously invest a large amount of funds to keep up with the technological development pace of the industry. R & D of key technologies such as artificial intelligence algorithms and sensor technologies requires a large amount of human, material, and financial resources. If an enterprise lags behind in technological R & D, it will be difficult to launch competitive products and will be at a disadvantage in the market competition. In the competition for market share, the competition among enterprises is also extremely fierce. Newly entered enterprises often come with innovative business models and technological advantages and try to gain a share of the market. Traditional robotics enterprises need to continuously consolidate their market position and expand new market areas. This fierce competition may lead to a decline in enterprises' market share and a compression of profit margins. Some small robotics enterprises may have difficulty surviving due to limited resources and narrow market channels when facing the competition of large enterprises, while large enterprises also need to continuously innovate and optimize their products and services to meet the competition challenges.
3. Risk of technological iteration
Robot technology is in a stage of rapid development, and technological iteration is changing with each passing day. If A - share enterprises cannot keep up with the pace of technological development and lag behind in key technologies, they will face the risk of being eliminated by the market. In terms of artificial intelligence algorithms, new algorithms are emerging constantly, enabling robots to make more intelligent and efficient decisions. If an enterprise still uses old - fashioned algorithms, robots will be incompetent in handling complex tasks and cannot meet market demand. In terms of sensor technology, high - precision and high - reliability sensors are constantly being launched, which can improve the perception ability of robots. If an enterprise's sensor technology lags behind, robots will have difficulty accurately perceiving the surrounding environment, affecting their application in various scenarios. Take industrial robots as an example. As the requirements of the manufacturing industry for intelligence and automation are constantly increasing, industrial robots need to have more advanced visual recognition, force perception, and other technologies. If A - share enterprises cannot update their technologies in time, the industrial robots they produce will not be able to meet the upgrading needs of the manufacturing industry, and their market share will be seized by enterprises with advanced technologies.
Investors' Response Strategies in the A - share Market
Facing the opportunities and challenges brought by the booming investment and financing in the robotics track, investors in the A - share market need to remain rational and cautious, formulate scientific and reasonable investment strategies, and then be able to move forward steadily in this volatile market.
1. Pay attention to fundamentals
Investors should closely pay attention to the fundamentals of A - share robotics enterprises, which is an important basis for investment decisions. Performance is a key indicator to measure the operating conditions of an enterprise. Stable revenue growth and good profitability are manifestations of an enterprise's core competitiveness. Take Inovance Technology as an example. It has been deeply involved in the fields of industrial automation and robotics, and through continuous technological innovation and market expansion, its revenue has achieved steady growth, showing strong market competitiveness. When choosing investment targets, investors should conduct in - depth analysis of the enterprise's financial statements and pay attention to key indicators such as the sustainability of revenue growth, gross profit margin, and net profit margin. At the same time, they should also examine the enterprise's R & D investment, technological strength, market share, and other fundamental factors. Enterprises with high R & D investment are more likely to make technological breakthroughs and maintain a leading position. Enterprises with a wide market share have stronger risk - resistance ability in market competition. Through a comprehensive analysis of fundamentals, investors can screen out enterprises with real core competitiveness and development potential and reduce investment risks.
2. Diversify investments
Diversifying investments is an effective strategy to reduce risks. The robotics industry covers multiple sub - fields, including industrial robots, service robots, special robots, etc., and each sub - field has different development characteristics and market prospects. In the field of industrial robots, enterprises are widely used in industries such as automobile manufacturing and electronic production; service robots show great potential in fields such as medical care, education, and home services. Investors should not concentrate all their funds in a single sub - field or a single enterprise but should diversify their investments in robotics - related enterprises in different sub - fields and at different development stages. They can invest in leading enterprises in the industrial robot field and innovative enterprises in the service robot field, as well as enterprises at different stages of growth and maturity. In this way, when there are adverse situations in a certain sub - field or a certain enterprise, other investment targets may play a balancing role, reducing the overall risk of the investment portfolio and ensuring the relative stability of investment returns.
3. Make long - term investments
The development of the robotics industry is a long - term process that needs to go through multiple stages such as technological R & D, market cultivation, and industrial maturity. Although the market may fluctuate in the short term, in the long run, with continuous technological progress and continuous growth of market demand, the robotics industry has broad development prospects. Investors should establish a long - term investment concept and avoid being influenced by short - term market fluctuations. Take the development of Tesla's humanoid robots as an example. From the initial concept proposal to technological R & D and then to the gradual realization of commercial mass production, it has taken many years. During this process, the stock price has not been smooth sailing, but investors who held Tesla stocks for a long time have obtained significant returns. When investing in A - share robotics - related enterprises, investors should have patience and perseverance and not trade frequently due to short - term stock price fluctuations. They should believe that excellent enterprises can continuously increase their value in the long - term development process and bring rich returns to investors. Through long - term investment, investors can share the dividends of the development of the robotics industry and achieve the stable appreciation of assets.
Summary and Outlook
The booming investment and financing in the robotics track has brought new development opportunities to the A - share market, promoted the rise of robotics concept stocks, driven the development of enterprises in the upstream and downstream of the industrial chain, and attracted more capital inflows. However, the A - share market also faces risks such as valuation bubbles, intensified competition, and technological iteration.
When facing this market, investors should remain rational, pay attention to enterprise fundamentals, diversify investments, and establish a long - term investment concept. With continuous technological progress and gradual market maturity, the robotics industry will have a broader development space, and the A - share market will also continuously transform and develop in this process. On the investment path, investors need to move forward cautiously, seize opportunities, and avoid risks to achieve ideal returns in the market.
This article is from the WeChat official account "IPO Assistant", author: Tang Yipao. It is published by 36Kr with authorization.