Eliza Wong
Executive Summary
- Hongchang Technology (301008) surges 34% as humanoid robotics gains institutional attention, with Wind Humanoid Robot Index up over 2%.
- Memory chip stocks like Demingli rally nearly 30% on global supply constraints and AI-driven demand growth.
- 433 Chinese companies disclosed institutional research memos this week, with nearly 40% posting positive returns.
- Defense, automotive, and semiconductor sectors show robust activity with companies like AVIC Chengfei and BYD sharing strategic updates.
- Storage chip prices expected to maintain upward trend through Q4 2025 amid capacity shifts and emerging demand.
Market Momentum Builds as Institutional Research Activity Hits New Highs
The Chinese equity markets demonstrated remarkable vigor this week as institutional research activity reached unprecedented levels. With 433 companies disclosing research memos through September 19th, professional investors are increasingly focused on identifying emerging opportunities in specialized sectors. Nearly 40% of researched companies delivered positive returns, highlighting the value of deep fundamental analysis in current market conditions.
This surge in institutional attention comes as global investors seek exposure to China’s technological advancement sectors, particularly those leveraging artificial intelligence, robotics, and semiconductor development. The concentrated research activity reflects sophisticated money positioning for what many analysts believe could be the next major growth cycle in Chinese equities.
Robotics Sector Emerges as Primary Performance Driver
The robotics sector, particularly companies involved in humanoid robot development, captured significant institutional interest this week. This focus on automation and advanced robotics represents a strategic shift in how investors are approaching Chinese technological innovation.
Hongchang Technology Leads with 34% Weekly Gain
Hongchang Technology (宏昌科技, 301008) emerged as the standout performer with an impressive 34% weekly advance. The company’s strategic positioning in humanoid robotics has attracted substantial institutional attention. During research meetings, management revealed their 30 million yuan investment in Liangzhi Joint Technology Co., Ltd., acquiring a 30% stake in the specialized robotics component manufacturer.
The company’s products now serve multiple robotics segments including collaborative robots, humanoid robots, robotic dogs, and specialized robotic applications. Their client portfolio includes leading names such as Zhuji Power (逐际动力), Unitree Robotics (宇树), Lingbao (灵宝), Stardust Intelligence (星尘智能), and 58 Intelligence (五八智能), with ongoing discussions with additional domestic and international clients.
Industry-Wide Robotics Expansion Gains Momentum
Meilixin (美利信) followed with a 22% weekly gain, highlighting the broad-based nature of the robotics rally. Company management emphasized their proactive approach to robotics sector development, stating they “maintain close attention to industry demand changes in robotics” while possessing “capability for synchronous development of related structural components with clients.”
The company has prioritized technical preparedness, ensuring research and development maintains forward-looking advancement to match client product evolution. This strategic positioning reflects the sector’s expectation of substantial growth in robotics applications across industrial and consumer markets.
Memory Chip Stocks Rally on Global Supply Constraints
Beyond robotics, memory chip manufacturers experienced significant upward momentum as global supply dynamics shifted dramatically. The sector benefited from both structural supply constraints and emerging demand drivers, particularly from artificial intelligence infrastructure development.
Demingli Surges Nearly 30% on Pricing Optimism
Demingli (德明利) witnessed nearly 30% weekly gains as management expressed confidence in ongoing price appreciation for memory products. Company representatives noted that storage pricing reflects “multiple factors including supply-demand structure changes, capacity transfer, and emerging demand growth.”
The company highlighted that leading global technology manufacturers are substantially increasing capital expenditure toward AI investments, driving continued expansion of computing infrastructure. Server and data center storage requirements are elevating sector prosperity, with expectations that storage pricing will maintain an upward trajectory through the fourth quarter.
Enterprise Storage Solutions Drive Competitive Advantage
Demingli has developed comprehensive product systems covering high-performance SSDs and DRAM products, positioning the company to meet localization requirements for data centers and cloud computing applications. This strategic focus on enterprise storage solutions aligns with China’s broader technology self-reliance initiatives while addressing growing domestic demand.
Jiangbolong (江波龙) similarly projected comprehensive price increases across memory markets in the fourth quarter. The company highlighted their specialized SOCAMM2 product, designed specifically for AI data centers, which demonstrates breakthrough performance in bandwidth and power consumption while addressing traditional RDIMM performance bottlenecks and high-temperature challenges.
Defense and Automotive Sectors Show Strategic Development
Beyond technology sectors, traditional industrial segments demonstrated notable activity as companies shared strategic developments and market positioning.
AVIC Chengfei Reports Defense Export Progress
AVIC Chengfei (中航成飞) disclosed substantial international interest in their military trade products following regional conflicts in May. The company has hosted multiple foreign delegations while actively participating in international exhibitions and market promotion activities. Management reported “substantive progress” in defense exports, reflecting China’s growing presence in global defense markets.
The company also indicated attention to capital market dynamics, suggesting potential refinancing activities aligned with their “Fifteenth Five-Year Plan” development layout. This strategic planning supports subsequent high-quality development initiatives across their aerospace and defense portfolios.
BYD Emphasizes Supply Chain Optimization
In the automotive sector, BYD (比亚迪) addressed ongoing industry consolidation by emphasizing deepened cooperation throughout their supply chain. The company is promoting efficient coordination across multiple departments and segments while optimizing account period management and channel management.
Management highlighted their accounts payable and notes payable turnover days as among the lowest in the automotive industry, with further reduction achieved in first-half 2025 compared to the same period last year. This financial discipline supports mutually beneficial relationships with suppliers and distributors amid challenging market conditions.
Semiconductor Innovation Continues with eSIM Advancements
The semiconductor sector demonstrated continued innovation as Unigroup Guoxin (紫光国微) revealed their positioning in the evolving eSIM market following Apple’s introduction of eSIM-only iPhone Air models.
As China’s first chip manufacturer achieving global eSIM commercialization, the company has successfully launched and mass-produced multiple products compliant with GSMA and domestic communication standards. They have completed technical layout and product preparation specifically for integrated “AI+5G+eSIM” application scenarios while maintaining appropriate inventory levels based on market demand projections.
Strategic Implications for Global Investors
The concentrated institutional research activity across Chinese equities reveals several critical trends for international investors. The robotics and automation sector demonstrates substantial momentum with companies like Hongchang Technology leading performance gains. Memory chip manufacturers are positioned to benefit from both global supply constraints and domestic demand growth, particularly in AI infrastructure development.
Traditional sectors including defense and automotive continue evolving with companies optimizing operations and pursuing strategic growth initiatives. The breadth of institutional interest across 433 companies suggests sophisticated investors are identifying opportunities beyond headline indices, focusing on specific technological and industrial advancements.
For global portfolio managers, these developments underscore the importance of targeted research in Chinese equities, particularly companies driving innovation in automation, semiconductors, and advanced manufacturing. The current research intensity suggests professional investors anticipate continued momentum in these sectors through year-end and into 2026.
Monitor quarterly earnings from these companies closely, particularly revenue growth from emerging technology segments and margin expansion resulting from improved pricing power. Consider positioning in companies demonstrating both technical innovation and scalable business models within China’s broader industrial upgrading initiative.
