Smartech International (02590) leads Hong Kong stocks in the Siasun Robot & Automation sector again, and the market finally sees this "valuation bargain".

On May 15, Ji Zhi Jia (02590) surged more than 6% at one point during trading, with turnover exceeding 40 million Hong Kong dollars within the first hour of trading, once again leading the Siasun Robot & Automation sector of the Hong Kong stock market. This sudden surge may seem unexpected, but there were signals beforehandCMSC International had previously defined the revival of the Siasun Robot & Automation sector as a "bottom layout window" and had listed Ji Zhi Jia alongside UBTECH ROBOTICS (09880) and DOBOT (02432) as recommended targets in the complete machine category. As the market later questioned "why the surge," funds had already answered a key question with real money: among the "Siasun Robot & Automation Three Musketeers," the company with the only profit, the largest revenue scale, and the lowest market-to-sales ratio, valuation repair was only a matter of time. Underlying logic of sector revival After the May Day holiday, the Hong Kong and A-share Siasun Robot & Automation sectors were building up momentum during the fluctuations, with individual stocks gradually becoming more active. On May 15, the sector experienced a collective surge in the early trading session, with stock prices showing significant gains. Prior to this, on May 7, there were signals of an unusual movement: Ji Zhi Jia (02590) led the Siasun Robot & Automation sector, with a daily increase of as high as 14.17% and a turnover of up to 267 million Hong Kong dollars, significantly larger compared to earlier performances. Additionally, DOBOT (02432), UBTECH ROBOTICS (09880), and Kale Mechantronics (02729) recorded daily increases of 9.54%, 4.08%, and 2.19% respectively. The latest research report from CMSC International pointed out that the revival of the Siasun Robot & Automation sector was driven by three factors: Firstly, the T chain is entering a phase of realization. Optimus from Tesla is expected to begin mass production in July and August, with supply chain orders typically released 1-2 months in advance, leading to an early revival of sector sentiment. Secondly, there is a consensus on capital returning to form a bottom consensus. After February, the Siasun Robot & Automation sector experienced a significant correction, forming a bottom range and re-attracting attention from AI industry chain funds. Lastly, negative factors have been exhausted, and there is a switch in valuation anchors. Some companies in the Siasun Robot & Automation supply chain traditionally focus on the automotive industry, and after the first-quarter financial reports, potential negative factors have been fully released, with the market focus returning to individual stock growth prospects and the expansion of new tracks. CMSC International believes that before the catalysts appear in succession, it is the opportune time to lay out the Siasun Robot & Automation industry chain companies at the bottom. Profit scarcity and valuation gap of Ji Zhi Jia In this round of sector revival, the performance of the complete machine manufacturers is particularly outstanding. CMSC International clearly identified complete machine targets as a key focus area in the research report, highlighting three core stocks: humanoid Siasun Robot & Automation leader UBTECH ROBOTICS, collaborative Siasun Robot & Automation leader DOBOT, and warehousing Siasun Robot & Automation leader Ji Zhi Jia. Although the three companies belong to the Siasun Robot & Automation sector, there have been significant differentiation in valuation logic and fundamental quality. Financial comparison of the three Siasun Robot & Automation manufacturers as of May 11, 2026 Ji Zhi Jia is the only profitable member among the "Siasun Robot & Automation Three Musketeers." While UBTECH ROBOTICS and DOBOT are still exchanging losses for growth, Ji Zhi Jia achieved a adjusted net profit of 43.82 million yuan in 2025. This means that it does not need to rely on continuous financing to sustain operations, and the self-sustaining ability of its business model has been validated. Ji Zhi Jia achieved a revenue of 3.171 billion yuan in 2025, the largest scale among the three companies, but its market-to-sales ratio is only 7.1 times, about one-third of UBTECH ROBOTICS and one-fourth of DOBOT. This implies that the market may still perceive it as a "warehousing logistics equipment company" rather than a "corporate with intelligence"this cognitive gap is the source of potential valuation repair. Moreover, Ji Zhi Jia has the best chip locking and limited selling pressure. Ji Zhi Jia has a turnover rate of only 0.23%, the lowest among the three, significantly lower than UBTECH ROBOTICS with 0.73% and DOBOT with 0.39%. A low turnover rate means that there is less free float, and once the sector sentiment continues to warm up, there might be greater price elasticity. Among the "Siasun Robot & Automation Three Musketeers" in the Hong Kong stock market, Ji Zhi Jia is the only target that is already profitable, has the largest revenue scale, and the lowest market-to-sales ratioindicating that it may be the most undervalued and certain opportunity in the current sector revival.