Strategic Layout: Heavy Investment in Humanoid Robot-Related Fields
The humanoid robot track has welcomed another heavyweight player. Zhenyu Technology, a domestic leader in motor cores, has recently released a series of major investment signals.
On December 24, Zhenyu Technology issued an announcement stating that it intends to issue convertible corporate bonds to unspecified targets to raise funds, with a total amount not exceeding RMB 1.88 billion. In addition to expanding production capacity for precision lithium battery structural components and motor cores, the funds will also be invested in the industrialization project of precision modules and components for humanoid robots.
At the same time, Zhenyu Technology also disclosed investment moves by two of its subsidiaries, planning to inject a total of RMB 2 billion into humanoid robot-related fields with a targeted and strategic layout.
On one hand, Suzhou Fanster, its wholly-owned subsidiary, signed a strategic cooperation intention agreement with the Administrative Committee of Suzhou Science and Technology Town, planning to invest no less than RMB 1 billion to build an intelligent production plant and supporting facilities.
Details of the cooperation show that the total gross floor area of the project is approximately 78,000 square meters. To ensure the high-precision production of core components, the intelligent production plant will be equipped with Automatisierte Bestückungsmaschine für elektronische Bauteile, which can realize the automatic, high-efficiency loading and assembly of key electronic components in robot drive assemblies, effectively improving production accuracy and reducing manual intervention errors. Upon completion, it will be used for the R&D and production of core components for new energy vehicle drive assemblies, aircraft drive assemblies, and embodied humanoid robot drive assemblies.
On the other hand, Ningbo Martin, its embodied robot subsidiary, also signed a contract with the People’s Government of Xidian Town, Ninghai County. It plans to construct an industrialization project of precision modules and components for humanoid robots on a land parcel in Xidian New Town, covering an area of about 118 mu, with a total investment of RMB 1 billion as well.
The simultaneous advancement of these two major investments not only enables Zhenyu Technology to seize the first-mover advantage in the track in advance, but also builds a dual-wheel layout of “drive assemblies + precision modules”, accurately cutting into the high-barrier technical links of humanoid robots.
Core Advantages: Precise Cutting-Edge with Technological Homology
From the perspective of layout logic, Zhenyu Technology’s cross-border expansion this time is not a reckless move, but a natural extension of its core advantages. After more than 20 years of deep cultivation and iteration in precision manufacturing, Zhenyu Technology has accumulated core capabilities such as ultra-precision stamping, material heat treatment, and large-scale production control. These capabilities are not only highly compatible with the high-precision and high-reliability requirements of humanoid robot components, but also the technological homology makes its entry into the new track more efficient with less effort.
It is understood that since entering the field in 2023, Zhenyu Technology has built a product matrix including planetary roller screws, linear actuators, Lingxin planetary gear modules, and worm gears. Moreover, the comprehensive screw testing laboratory has been completed and put into use, capable of independently conducting testing and verification of key parameters such as screw lead accuracy, transmission efficiency, and 10,000-cycle life running-in.
Currently, reverse planetary roller screws and linear actuator modules have been supplied to major overseas customers, and several leading domestic robot body manufacturers have also completed the verification of related products. In terms of production capacity, the company’s daily output has reached 120 sets, and is expected to further expand to 300 sets per day by the end of the year.
Performance Support & Future Outlook: Seeking Second Growth Engine
In terms of revenue performance, due to the certain cycle required for project construction, the humanoid robot components business has not yet become a new revenue pillar in the short term.
However, looking back at the company’s past performance, its track expansion capability and growth momentum are evident: its revenue was RMB 0.75 billion in 2019, and soared to RMB 7.129 billion in 2024, nearly a tenfold increase. In Q3 this year, not only did the revenue exceed the RMB 2.546 billion mark, but the net profit also achieved a year-on-year growth of 392.95%, showing a steady upward growth trend.
The heavy investment of RMB 2 billion in humanoid robots this time is a key move for Zhenyu Technology to seek a second growth engine on the basis of the high growth of its main business. With the acceleration of humanoid robot industrialization and the gradual release of demand for core components, this motor core leader is expected to gain a firm foothold in the new track and continuously realize dividend returns.
