Behind the Robot “Spring Festival Gala”: Exposing Concept Stocks and Identifying the Next Industry Leader

Behind the Spring Festival Gala Show of the “Gold Digging Robot”: Major Concept Stocks Exposed, Who Will Be the Next “Yushu”?

Daily Economic News – February 24, 2026

On February 16, the eve of the Lunar New Year, alongside stars, robots also made an appearance on the 2026 CCTV Spring Festival Gala. Companies such as Magic Atom, Galaxy Universal, Yushu Technology, and Songyan Power showcased their robots, with various local TV stations featuring robot performances as well. This impressive collective display of technology has evolved beyond mere audiovisual entertainment; it serves as a window into the trends of the embodied intelligence industry within the capital markets.

As robots transition from labs and factories to become central figures in family gatherings, they are backed by a complex network of publicly listed companies. Some of these companies have already secured pivotal positions in the robotics sector through direct or indirect equity investments, while others are deeply integrated as core suppliers or strategic partners.

The question remains: can this “Spring Gala collective show” ignite a new cycle in the industry, similar to what Yushu Technology achieved in 2025? Beneath the glamorous surface of the Spring Festival Gala, what is the true “temperature” of the industry? Feedback from leading companies reveals a reality that requires a calm perspective, beyond optimistic expectations.

Many listed companies considered “concept stocks” have admitted that their relevant businesses are mostly in the stages of market exploration, prototyping, or small-scale orders, contributing minimally to their current performance. Several firms have engaged in the robotics field, such as Xunlian Integrated (SH688469), which participated in strategic financing for Magic Atom through its CVC (Corporate Venture Capital) platform in 2025 and has established a strategic partnership with the company. Announcements indicate that Xunlian Integrated primarily offers one-stop chip system foundry services, with mass production already achieved for VCSELs (Vertical Cavity Surface Emitting Lasers) and scanning mirrors used in robotic laser radars. A miniaturized drive module for robot hands has also secured orders from leading domestic companies, with mass production expected to begin in the first quarter of 2026.

Xiaxia Precision (SZ001306) has mentioned Magic Atom in both its 2024 annual report and 2025 semi-annual report, identifying it as a newly developed client with business potential. The company has positioned itself in the humanoid robot components sector, supplying precision gears, speed reducers, and planetary roller screws to numerous well-known domestic and international robotics firms, with screws currently in the prototyping and small-order phase.

Tianqi Co., Ltd (SZ002009) established a joint venture with Galaxy Universal in May 2025, named Wuxi Tianqi Galaxy Robot Co., Ltd (Tianqi Galaxy), with each holding a 50% stake. This joint venture aims to advance the application of embodied intelligent robots in industrial manufacturing sectors such as automotive manufacturing and new energy batteries, focusing on scaling solutions in industrial scenarios. In December of the same year, Tianqi Co. participated in financing for Galaxy Universal, acquiring up to 0.38% of its shares.

Junyi Digital (SZ301172) has similarly formed a dual relationship with Galaxy Universal through capital and business collaboration. They not only made equity investments through an industrial fund but also signed a channel partnership agreement to establish a deep agency cooperation in specific vertical industries, with Junyi Digital acting as a premier partner for Galaxy Universal in sectors like pipeline networks, cultural tourism, education, and data collection.

Shoucheng Holdings (HK00697) is a significant industrial investor in Songyan Power and led its 2024 funding round, providing continuous support in subsequent financing rounds. According to Shoucheng Holdings’ WeChat account, the company has long been involved in the robotics sector, investing in dozens of core enterprises, including Songyan Power, Yushu Technology, Galaxy Universal, and others through its Beijing Robot Fund and related industry funds.

Shengshi Technology (SZ002990) signed a strategic cooperation agreement with Songyan Power in November 2025, aiming to create a collaborative ecosystem that integrates R&D, production, application scenarios, and marketing. Huichen Co., Ltd (SH688500) also reached a strategic partnership with Songyan Power in December 2025, signing a contract for 1,000 units of Songyan Power’s new humanoid robot, while also announcing the initiation of deep business cooperation.

Moreover, the Daily Economic News has noted that several companies listed have business dealings with Yushu Technology. Weilan Lithium Core (SZ002245) is a key lithium battery supplier for Yushu Technology, while Nasda (SZ002180) and Xinjieneng (SH605111) supply products in bulk to Yushu Technology and similar companies. Baotong Technology (SZ300031) has signed a cooperation agreement with Yushu Technology for secondary development of industrial robots, and Digital China (SZ000034) has partnered with Yushu Technology and other industry leaders to develop solutions for specific applications like inspection and security.

Will the robotic trend reignite? In January 2025, Yushu Technology captivated audiences with a humanoid robot dance at the Spring Gala, skyrocketing the robot industry’s growth that year. Whether the 2026 Spring Gala can once again spark excitement for humanoid robots remains uncertain. Recently, the Daily Economic News reached out to various listed companies to gauge their industry expectations from an investor’s perspective.

Hongchang Technology (SZ301008) has a stake in Hangzhou Liangzhi Joint Technology Co., Ltd., which specializes in the development and production of harmonic reducers, planetary reducers, and harmonic modules, with major clients including Zhujidongli, Yushu Technology, and others. In February 2026, Hongchang Technology announced plans to further acquire 21% equity in Liangzhi Joint, aiming for a controlling stake. Regarding the humanoid robot business, Hongchang Technology indicated that Liangzhi Joint is still in its early stages, with growth risks due to client development not meeting expectations. Additionally, the current order scale is small due to client R&D cycles and mass production progress.

Xiaxia Precision reflected that the growth expectations in the robotics sector depend on whether the market can scale up, noting that its current client reserves are still in the prototyping and small-order phase. A staff member from the company remarked that they do not anticipate a significant short-term increase, as the market has yet to develop its volume.

Junsen Electronics (SH600699) has strategically extended its core automotive parts business into the embodied intelligent robot sector, serving both overseas and domestic leading robotics companies. However, this segment is still in its early stages, contributing less than 0.1% to total revenue. A staff member indicated that while the robots’ presence at the Spring Gala has a positive guiding effect, the industry is still in a phase of exploration, with the core participants’ technical pathways not fully aligned.

On January 27, 2026, Tianqi Co. announced that the joint venture Tianqi Galaxy has begun its relevant business in the application of embodied intelligent robots in the automotive and 3C manufacturing sectors, which is still in the market development phase. Thus, the performance of Tianqi Galaxy is expected to have a minimal impact on the company’s results for 2025, with future annual performance remaining uncertain.

Green Harmonic (SH688017), which focuses on precision transmission devices, stated in its 2025 annual performance forecast that the embodied intelligent robotics sector is entering a critical turning point, with leading clients transitioning from R&D to small-scale production, leading to significant growth in relevant product business and becoming an important driver of performance.

Liard (SZ300296) is involved in the embodied intelligent sector, leveraging motion capture technology and high-precision motion data. They have served leading robotics manufacturers like Yushu Technology and Galaxy Universal, although this business segment is currently small, accounting for just 4.22% of revenue in the first half of 2025. Meihu Co. (SH603319) is also expanding from traditional automotive parts to embodied intelligent components, with new projects involving prominent robotics clients such as Tencent and Galaxy Universal. In October 2025, Meihu announced that its robotics division was established in September 2025, with a designed production capacity of 50,000 harmonic reducers annually, and joint modules are already in production.