The Belt 
On 11 September, Enflame listed on the STAR Market, jumping 179.22 per cent on debut to a RMB 170.8 billion market cap. With Moorc and Muxi on the STAR Market and Biren in Hong Kong, China’s GPU “four dragons” have all reached public markets, worth about RMB 613.2 billion combined. It is a milestone for … Read more
Harmony Intelligent Mobility Alliance (HIMA) and Seres have responded to a change in how the AITO brand is run. Product definition, product design, brand marketing, channel retail and after-sales service will be led by Seres, with Huawei’s consumer unit contributing enablement. HIMA confirmed AITO’s new operating model on 15 September. (Source: Chedongxi) AITO remains part … Read more
Keda released its 2026 interim report: revenue RMB 425 million, up 34.73 per cent; net profit RMB 28.27 million, up 1,095.30 per cent; deductible profit turned to profit at over 980 per cent; gross margin 19.38 per cent, up 10.65 points. Operating cash was a RMB 5.63 million outflow. From a Wenzhou workshop, Keda is … Read more
A new round of consolidation among China’s state-owned carmakers has actually started. On 14 September, GAC Group said it had signed a letter of intent with FAW Car Co to buy part of a joint-venture vehicle company held by FAW through a share issue, alongside a supporting fundraising. GAC confirmed the FAW share deal in … Read more
In the first half of 2026, Ruisong Technology posted its strongest results since listing. Revenue reached RMB 625 million, up 71.67 per cent, and net profit attributable to shareholders was RMB 41.84 million, up 3,349.46 per cent, swinging to profit. Deductible net profit was RMB 39.02 million, up 1,338.79 per cent, and operating cash flow … Read more
On 15 September, Unitree traded at RMB 469.88, down 57 per cent from its 19 August IPO high of RMB 1,100, yet its market value still stood near RMB 190 billion. More than ten embodied-AI firms including Yunxi, AgiBot, Zhongqing, Galbot and Leju have started IPO processes, and valuation has turned into a brawl. Mech-Mind’s … Read more
On 1 September, Shao Tianlan took Mech-Mind to the Hong Kong exchange. Nine days later, the chief executive of a robot firm worth HK$10.4 billion publicly accused Galbot, an embodied-AI star valued at RMB 20 billion, of fabricating “false and unsustainable” revenue through data centres and related-party deals with local governments, investors and suppliers. The … Read more
In mid-August, Zhongjian Technology was fined RMB 3.9 million for fabricating a signing with Huawei’s embodied-AI innovation centre and for false disclosure, dragging it into controversy. Despite the storm, the old-line garden-machinery leader has not slowed its robotics expansion. Zhongjian and its subsidiary Shanghai Huazhijian recently signed an intelligent-robot industrialisation project with the Yongkang government, … Read more
Before Henry Ford’s moving line in 1913, cars were hand-built luxuries. Assembly fell to 93 minutes and cost collapsed. Today’s humanoids look like cars before 1913: the tech dazzles, but building one unit and stably building ten thousand are two different problems. Demo after demo shows dancing and tray-carrying, yet at scale there is no … Read more
On 11 September, Shenzhen hosted the embodied-intelligence sub-event of the second Global Technology Innovation Contest, paired with the sixth Shaoxing “Ten-Thousand-Mu, Hundred-Billion” new-industry platform high-level talent entrepreneurship contest (Shenzhen station) at the Harbin Institute of Technology (Shenzhen). The event set out to use competition as a tool to pull in talent, spur innovation and grow … Read more