Spring Gala Showcases Abilities, But Funds Aren't Buying It? Humanoid Robots: Say Goodbye to Imagination, Embrace Delivery Power, Institutions Are Quietly Betting!

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Source: Market Cap Fengyun

Copying homework is not as good as learning the true essence; knowing the why behind it is even more important.

Author | Los

Editor | Xiao Bai

During the Spring Festival, robots became the hottest topic on the streets, but now they are called “vegetables” by investors.

After the holiday, the robot index opened high and then declined, moving sideways without much change, prompting investors to question: if funds aren’t buying, does that mean robots no longer have allocation value? Let’s explore some opportunities through public fund holdings.

(Source: Choice Data, Robot (H30590) Index Chart)

Saying goodbye to “imagination” from 0 to 1, institutions embrace “performance realization”

According to Choice data and Shenwan’s third-level industry classification, the robot sector includes only 20 listed companies. However, at the end of Q4, passive funds mainly held these companies, while active funds showed little interest.

Taking the relatively high holdings of Greenland Harmonic (10.23%) and Robot (8.77%) as examples, at the end of Q4, active public fund products held only 1.8% of Greenland Harmonic’s circulating shares, and Robot was not among the top ten holdings in any active product.

(Source: Choice Data)

The main reasons are that these 20 companies generally have small market caps and poor performance. This limits institutional active allocation in two ways: small market cap makes large investments difficult, and weak performance reduces safety margins for investments.

Among these 20 companies, 14 issued performance forecasts for 2025, but only 4 are expected to be profitable. For robots with public fund holdings exceeding 8%, their 2025 performance is also below expectations, with projected losses of 310 million to 440 million yuan.

(Source: Choice Data)

The quarterly reports only show the top ten data; since only fund companies have released quarterly reports so far, and listed companies have not, the data isn’t fully accurate. However, from changes in the number of funds, it’s clear that in Q4, institutions mainly exited, with funds like Xinbang Intelligent, Keda, and Leise Intelligent seeing 4-6 fund products withdraw.

This explains why, despite positive news, large-scale selling has kept the sector subdued in the short term.

But companies like Greenland Harmonic, with more stable performance, still have investment value. Their stock prices performed well this year, rising over 20%.

As a global leader in harmonic reducers, Greenland Harmonic’s resilience lies in its ability to maintain profitability even during periods of slowed growth. Its net profit attributable to parent company in 2025 is forecasted at 115 million to 130 million yuan, a year-on-year increase of 104.7% to 131.4%.

(Source: Market Cap Fengyun APP)

Regarding reducers, other notable companies not included in Choice’s robot category include Shuanghuan Transmission, Ningbo Dongli, and Zhongda Liede.

Among them, public holdings in Shuanghuan Transmission are also relatively high, reaching 10.5% at the end of Q4. Under the pattern of gear industry leaders and RV reducers, its performance remains steady, with net profits positive every year since 2019, and 2025’s third quarter net profit reaching 900 million yuan, a 21.7% increase.

(Source: Market Cap Fengyun APP)

At the same time, in Q4, public fund holdings in Ningbo Dongli slightly increased to 4%, mainly bought by Liu Gesong of GF Fund and Wu Yuanyi of Penghua Fund.

(Source: Choice Data)

In terms of performance, Ningbo Dongli’s net profit attributable to parent in 2025 is expected to be 195 million to 205 million yuan, a 3.24 to 3.46 times increase year-on-year.

(Source: Company Announcements)

From the actions in Q4, large funds are gradually abandoning the concept of “imagination” and focusing on “performance realization.”

Seeking a “safety cushion”: solid core business combined with multiple concepts

01 What are the highlights of these mechanical equipment stocks?

Among Shenwan’s 31 industries, the most closely related to the robot concept are machinery, automotive, and household appliances. Next, let’s see if the companies with increased holdings in Q4 are related to robot business.

In the machinery sector, 11 companies saw public fund holdings increase by more than 2 percentage points in Q4, of which 8 are related to robots.

These include upstream core component companies like Wuzhou Xinchun (under rights protection), Lixing Shares, which mainly produce precision bearings and screw rods, as well as midstream companies like Weichuang Electric, Rongqi Technology, and companies integrating robots into cultural tourism scenes like Dafeng Industrial, and laser-robot integration companies like Jepte.

Additionally, Dingtai High-Tech responded in investor Q&A that “the company currently has some technical accumulation in the field of embodied intelligence, but specific products are not yet developed or externally validated.”

(Source: Choice Data)

From the market performance, stocks favored by public funds have generally outperformed the components of Shenwan’s robot concept index. Data shows these 8 stocks have an average increase of 16.28% year-to-date.

At the end of Q4, five of these companies—Wuzhou Xinchun, Dingtai High-Tech, Jepte, and Weichuang Electric—had public fund holdings exceeding 10%.

Among them, public holdings in Wuzhou Xinchun increased by 5 percentage points in Q4, mainly bought by Zhang Lu of Yongying Fund and Yan Siqian of Penghua Fund.

(Source: Choice Data)

Orders for screw products and robot bearings have already been placed with Wuzhou Xinchun. Its semi-annual report in 2025 shows that its reverse planetary roller screw products have received small batch orders from multiple clients.

(Source: Company Semi-Annual Report)

Moreover, Wuzhou Xinchun is a stock with dual concepts of robotics and commercial aerospace. Its semi-annual report indicates that its aerospace and high-end gas turbine bearing products have also received small batch orders, marking initial progress in the commercial aerospace supporting sector.

(Source: Company Semi-Annual Report)

Jepte has gained institutional favor with “better-than-expected performance + multiple concepts.” Its public fund holdings increased by 2.3 percentage points in Q4, with 39 funds holding it and active products holding 12.7%. Wu Yuanyi of GF Fund was a major buyer.

Jepte’s laser business is a cornerstone; the company forecasts a net profit attributable to parent of 280 million yuan in 2025, a 111.4% increase. Its business spans robotics, new energy (power batteries), and optical communications, offering market imagination space.

(Source: Company Announcements)

Driven by multiple factors, Jepte’s stock price has risen over 90% by the end of February, showing excellent performance.

(Source: Market Cap Fengyun APP)

Additionally, the secret to Dingtai High-Tech’s 10-bagger growth lies in the heavy institutional positioning.

At the end of Q4, institutional holdings rose to 16%, up 4 percentage points from the previous quarter, with only one fund manager, Jin Zicai, holding over 8%. Under heavy institutional support, the stock hit a new high of 219.9 yuan on February 25, with a more than tenfold increase since early 2025.

The surge in stock price is backed by solid performance: benefiting from exploding demand for AI servers, high-end PCB tools’ prices and quantities are rising, and the company expects net profit over 410 million yuan in 2025, an over 80% increase.

(Source: Company Announcements)

Overall, current institutional strategies are very clear: focus on companies with performance certainty, those with stable core businesses and growth potential in emerging sectors. Stocks with multiple concepts are especially favored by public funds.

02 Which auto parts companies involved in the robot track are favored by institutions?

Looking at the automotive sector, 8 companies saw public fund holdings increase by more than 2 percentage points in Q4. Among them, 5 are related to the robot concept: Siling Zhidu, Chaojie Shares, Zhejiang Rongtai, Riyi Electronics, and Xinquan Shares.

(Source: Choice Data)

In terms of institutional holdings, Siling Zhidu, Zhejiang Rongtai, and Xinquan Shares are typical institutional stocks, with holdings over 20% at the end of last year, and continued increases in Q4.

Institutional favor for Siling Zhidu did not stop in Q4; after a 7% increase in public holdings, several institutions conducted intensive research at the beginning of 2026.

(Source: Choice Data)

Their attractiveness lies in a clear strategic layout of “solid fundamentals + growth potential”: mainly producing braking and transmission system bearings, with six consecutive years of positive and steadily growing profits, demonstrating solid performance; meanwhile, their new robot businesses have entered small batch production, opening new growth avenues.

(Source: Institutional Research)

Additionally, Chaojie Shares’ popularity follows the same logic as Wuzhou Xinchun: solid main business + multiple concepts.

The company specializes in precision fasteners for automotive applications, providing stable earnings. It is also expanding into high-growth sectors: one, commercial aerospace, where it is now in actual delivery phase, manufacturing structural components for commercial rockets, including major sections and fairings.

(Source: Institutional Research)

Another focus is humanoid robots. The company has disclosed that its products include fasteners and precision machined parts, with some small batch and formal orders from clients.

(Source: Company Semi-Annual Report)

Overall, companies with barriers to entry, stable cash flow, and substantial orders in emerging high-growth sectors like commercial aerospace and humanoid robots are key targets for institutions.

In the household appliance sector, only three stocks—Xingshuai’er, Jimi Technology, and Tianyin Electromechanical—saw public fund increases over 2 percentage points in Q4, with only Xingshuai’er indirectly holding a 0.0051% stake in Yushu Technology, weakly related to the robot concept.

(Source: Company Investor Q&A)

In summary, investments in the robot sector have moved beyond the “conceptual premium” stage. Going forward, the focus should be on public fund strategies: prioritize companies with solid core businesses, sufficient safety margins, diversified business layouts, and second growth curves.

As a leading sector of new productive forces, the long-term value of robots is well recognized. However, future excess returns will depend more on stock-picking insight and holding conviction.

Note: Data in this article is current as of February 27, 2026.

Disclaimer: Funds carry risks; investments should be cautious. This report (article) is based on publicly available market information (including but not limited to interim announcements, periodic reports, and official interactive platforms) and is an independent third-party research. Market Cap Fengyun strives for objectivity and fairness in content and viewpoints but does not guarantee accuracy, completeness, or timeliness. The information or opinions expressed are for reference only and do not constitute investment advice. Market Cap Fengyun is not responsible for any actions taken based on this report.