HK Stock Market Move | Zhejiang Sanhua Intelligent Controls (02050) fell more than 5%, the stock price has retreated by more than 20% from the year's high point.

Zhejiang Sanhua Intelligent Controls (02050) fell by more than 5%, retracing over 20% from its intrayear high. As of the time of writing, it fell by 5.05%, to 33.82 Hong Kong dollars, with a trading volume of 5.33 billion Hong Kong dollars. On the news front, Goldman Sachs recently released a field research report on the supply chain of Chinese humanoid Siasun Robot&Automation. The institution said it surveyed nine Chinese Siasun Robot&Automation industrial chain companies from November 3 to 6, including Zhejiang Sanhua Intelligent Controls and other popular companies in the market. The report pointed out that these Siasun Robot&Automation component companies are actively planning production capacity in China and overseas, with an annualized production capacity planning range of approximately 100,000 to 1 million Siasun Robot&Automation units. Compared to Goldman Sachs' forecast of a global shipment volume of 1.38 million units by 2035, this plan highlights the supply chain's optimistic view of industry growth prospects. The report also noted that the nine companies in the industrial chain surveyed have not confirmed any large orders and have not provided a clear mass production timeline. It is reported that Zhejiang Sanhua Intelligent Controls, which just denied rumors of a "50 billion yuan Siasun Robot&Automation order from Tesla" in October this year, is laying out its Siasun Robot&Automation business based on its core "thermal management" technology. According to the Goldman Sachs research report, Zhejiang Sanhua Intelligent Controls has purchased about 200,000 square meters of land in Thailand specifically for the assembly of humanoid Siasun Robot&Automation actuators. The company has already started production capacity at its Thailand base for humanoid Siasun Robot&Automation.