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 now a national little-giant leader in welding robots, having shipped China’s first self-developed servo welding equipment in 2017.
Yaskawa, one of the global “big four” robot makers, holds 8.75 per cent of Keda as second-largest shareholder and is both supplier and customer. In the first half, 58.46 per cent of Keda’s external industrial robots used bought-in whole units, 57.90 per cent of them Yaskawa. Related purchases from Yaskawa reached RMB 174.87 million, 50.72 per cent of goods procurement, while sales to Yaskawa were RMB 14.15 million, 3.33 per cent of revenue.
Self-developed robot sales hit RMB 302.25 million, up 39.04 per cent, at 3,385 units, up 42.77 per cent; self-made units 1,406, up 44.21 per cent. Welding equipment sales were RMB 95.59 million, up 27.31 per cent. Keda made humanoids a core strategy, founding Hangzhou Keda Humanoid in late 2024; it posted no revenue and a RMB 7,910 loss in H1. Through 2026 it took controlling stakes in force-torque sensor maker Kaiweilichuan, bought 70 per cent of Kaituo Zhijie for RMB 30 million, and took 18.11 per cent of Zhejiang-University quadruped startup Jingchi for RMB 30 million. Its joint quadrupeds “Black Panther 2.0” and industrial “Apollo” climb 20-centimetre steps, reach IP67, and the wheel-foot model carries 70 kilograms for over six hours.
H1 R&D was RMB 20.87 million with 188 intellectual-property rights, 59 domestic and one foreign invention. The drive-control collaborative joint passed prototyping, and the KX950 collaborative body entered small-batch trial. Keda is using industrial-welding cash to buy into the humanoid supply chain one component at a time.
Editor’s note: This is an adapted translation of the original OFweek Robot report. It has been trimmed and restructured for readability for an international business audience.
Translated and adapted from OFweek Robot (https://robot.ofweek.com/2026-09/ART-8321202-8120-30701652.html).