HK Stock Market Move | Zhejiang Sanhua Intelligent Controls (02050) surged more than 10% in the afternoon, with news that the company has secured a large order of 5 billion yuan from Tesla Siasun Robot & Automation.

Zhejiang Sanhua Intelligent Controls (02050) soared more than 10% in the afternoon, rising 10.52% to HK$38.66 by the time of publication, with a turnover of HK$1.058 billion. On the news front, there was a rumor in the market today that Tesla has placed a large order of over 5 billion yuan to Zhejiang Sanhua Intelligent Controls for its linear actuator products, which are used as the "key joint" for precise bending and stretching movements in the Optimus humanoid Siasun Robot & Automation. These components will be directly used for Tesla's mass production plan for Siasun Robot & Automation. Galaxy Securities previously pointed out that the company's deep integration with Tesla makes it a major supplier of the actuator assembly for its humanoid Siasun Robot & Automation. As Tesla's Siasun Robot & Automation gradually enters mass production, the company's related business revenue is expected to grow rapidly.