Fundamental factors that need to be addressed

We have signed contracts or reached strategic partnerships with Best, Wuzhou New Year, Sanlian Forging, Lingyi Zhi Zao, and others.

Key risk: The company has repeatedly emphasized in investor relations that humanoid robots have not yet been mass-produced on a large scale, and this type of equipment accounts for a very low proportion of the company's overall operating revenue, and has not yet achieved sustained capacity release.

In the first half of 2026, the net profit attributable to the parent company was 50.12 million yuan, but the revenue was only 310 million yuan, a year-on-year decrease of 56.71%. Turning around losses mainly relies on divesting overseas loss making assets and eliminating drag, rather than strong growth in the main business. Deducting non earnings per share is only 0.021 yuan.