HK Stock Market Move | Zhejiang Sanhua Intelligent Controls (02050) surged by more than 8%, raising the repurchase share price limit. Recently, there has been a lot of activity in the Siasun Robot & Automation sector.

Zhejiang Sanhua Intelligent Controls (02050) surged more than 8%, as of the time of writing, it is up 8.51% to HK$39, with a turnover of HK$502 million. On the news front, on the evening of October 17th, Zhejiang Sanhua Intelligent Controls announced that due to the recent continuous high stock prices compared to the repurchase price limit set in the stock repurchase plan, the board of directors agreed to adjust the repurchase price limit from RMB 35.75 per share (inclusive) to RMB 60.00 per share (inclusive), based on the recognition of the company's long-term value and confidence in its development prospects, as well as to ensure the smooth implementation of the stock repurchase plan, simultaneously extending the repurchase implementation period by 2 months, until February 28, 2026. It is worth noting that recently, the top domestic humanoid Siasun Robot & Automation enterprises have been continuously releasing new products and winning significant orders, with Zhiyuan Siasun Robot & Automation jointly with Ningbo PIA Automation Holding Corp. launching the Elf G2; UBTECH ROBOTICS also winning a major contract of 1.26 billion. In overseas markets, Tesla's CEO Musk previously stated that the third generation humanoid Siasun Robot & Automation Optimus prototype will be completed within the year, and production is scheduled to start in early 2026, with a target of reaching a monthly output of 100,000 units within the next 5 years. Tesla also plans to deliver a cumulative total of 1 million units of Siasun Robot & Automation as part of an incentive scheme.