On 29 October, indices weakened in volatile trading, while high-dividend stocks led gains. Technology sectors fell across the board after third-quarter results; robotics and commercial aerospace were relatively strong, although performance within the sectors diverged.
On 29 October, Century Hengtong received net institutional buying of 86.92 million yuan, while its share price fell 0.49%. The company provides robot data collection and annotation services to embodied intelligence clients and also has digital businesses including services for vehicle owners.
Flyco’s third-quarter revenue rose 13% year on year and net profit attributable to shareholders increased 27%, as premium shavers lifted its gross margin. Henggong Precision’s robotics revenue reached 173 million yuan in the first three quarters, with nearly 100 million yuan in the third quarter alone.
On 29 October, turnover contracted across the Shanghai and Shenzhen markets as capital moved toward defensive sectors such as banking and coal. In industry developments, research into cable-driven robots received investment, while Doubao Work opened access to third-party models for enterprise customers.
Megmeet, ZTT, Hongchang Electronics and Mankun Technology reported sharp year-on-year increases in third-quarter net profit, driven respectively by their power-supply business positioning, higher optical fiber prices, higher copper-clad laminate volumes and prices, and increased orders; Decolite plans to invest 1.2 billion yuan to expand optical connectivity product capacity.
Huafu Securities believes that advances in general-purpose models and toolchains could help embodied AI reach a critical milestone, with data collection and robot components two areas worth watching.
Demand for embodied AI data is driving collection services, while edge AI is constrained by model size and memory bandwidth. Institutional views on dairy, pharmacies and traditional Chinese medicine center on cyclical improvement and defensive positioning, respectively.
The three companies are seeing different operational changes: MOONS’ third-quarter profit rose 175.30% year on year; Shandong Road & Bridge improved its gross margin, but its net operating cash outflow widened; Inovance Technology’s general automation business grew rapidly, while its new-energy vehicle power systems business continued to face profitability pressure.
Amazon AWS growth fell short of the buy-side threshold, while capital spending reduced free cash flow; Intel data center revenue beat expectations, but a weak PC business weighed on fourth-quarter guidance.
Sandisk’s first-quarter revenue beat Wall Street expectations, but growth came more from shipments, while gross margin and progress on long-term agreements fell short of bullish thresholds; Reddit’s US daily active users declined, and its fourth-quarter revenue guidance was below market expectations.
Alphabet’s search growth missed expectations; Microsoft Azure accelerated, but financing and costs drew attention. ServiceNow and Fortinet face tests involving AI usage growth, the realization of service revenue and margins.
Wangsu Science & Technology’s security business accounted for 34% of revenue in the first half, with a gross margin of 74%. Zheshang Securities believes an improved competitive landscape in CDN and a higher share of security business could support a recovery in profitability, while edge AI offers new growth opportunities.
Wuzhou Xinchun is using its bearing and precision-component technology to expand into wind power, robotics and aerospace. Its robotics products have already been delivered in small batches, while its wind power rollers have entered Vestas’s supply chain through bearing customers.
In the first three quarters of 2026, Dajin Heavy Industry delivered nearly 150 thousand tonnes of high-value-added offshore products to overseas markets, and its gross margin rose 4.5 percentage points year on year. The company is extending its delivery chain through vessels and a home port.
By midday on 29 October, the ChiNext Index had weakened while bank and dividend stocks strengthened. The report considers robotics to remain the main short-term theme, with capital flowing out temporarily shifting to commercial aerospace, and highlights Chaojie Fastener’s rocket structural components business.
Consolidation of an acquisition and growth in contact lens sales drove Eyebright’s third-quarter revenue up 45% year on year, but selling expenses weighed on profit. Goldman Sachs maintained its revenue forecasts while cutting its earnings forecasts for the next three years and its price target.
Third-quarter core adjusted EBITDA and net postpaid account additions both exceeded expectations, but Goldman Sachs noted that only part of the quarterly profit beat translated into a smaller increase in full-year guidance. A year-over-year decline in net account additions and a higher churn rate also constrained growth performance.
Record memory testing and better-than-expected product testing were offset by weakness in robotics. Goldman Sachs raised its earnings forecasts while lowering its price target because peer valuations declined.
Goldman Sachs said fuel supply gains from crude oil price volatility boosted third-quarter profit, while retail fuel margins, merchandise and expenses were weaker. It maintained its Neutral rating.
In the first quarter of fiscal 2027, Microsoft’s Azure growth exceeded company guidance, while commercial cloud customer upgrades drove revenue; capital expenditure still rose 30% and free cash flow fell 27% year over year.
