The Zhitong Finance App learned that China's humanoid robot concept stocks have rebounded strongly since October 15, driven by the market's expectations of an early inflection point. Among them, Yushu Technology (688836.SH) has accumulated a cumulative increase of more than 60%, outperforming the MSCI China Index during the same period. However, Morgan Stanley believes that although companies' interest in using humanoid robots continues to rise, due to factors such as falling prices and limited product maturity, the commercialization period is expected to be delayed by about a year, and the industry will gradually move towards large-scale development.
Damo pointed out that the rebound in the humanoid robot sector is mainly driven by three factors: first, the light warehouse deployment since the market sentiment weakened in 2026; second, a breakthrough in the cutting-edge big language model (LLM), which is expected to accelerate the development of physical intelligence; and third, Wang Xingxing, founder, chairman and technical director of Yushu Technology, made more optimistic remarks, and it is expected that the inflection point of intelligent technology will appear early from 2027 to 2028.
Damo said that although the cutting-edge model can now generate robot actions in a zero-sample environment and guide operation strategies across platforms, there is still a need to improve cost, task success rate, and delay performance. Until there is more clear evidence of increased productivity, commercial viability, and repeat orders, the sector is expected to remain mainly dominated by catalytic events in the short term.
Damo pointed out in the second AlphaWise China humanoid robot survey report that market interest remains strong. 64% of respondents said they may adopt humanoid robots within three years, up from 62% in 2025. However, the average application time expected by the surveyed companies was delayed by about one year, and satisfaction also weakened. Only 18% of potential users were satisfied with the current performance, down 5 percentage points from the previous year.
Furthermore, enterprises are paying more and more attention to economic benefits, and generally pursue a shorter return on investment period. According to the survey, 72% of respondents believe that only humanoid robots that sell for less than 100,000 yuan can be financially viable, far higher than 53% last year.
Damo anticipates that in the future, the market will gradually advance through small-scale pilots, and that product reliability, integration costs, and quantifiable productivity results will be the key to deciding on subsequent orders.