HK Stock Market Move | Ningbo Joyson Electronic Corp. (00699) rose more than 4% in the afternoon. Tesla's Optimus recently launched mass production factory audits, and Citi said this is positive for the supply chain.

Ningbo Joyson Electronic Corp. (00699) rose more than 4% in the afternoon. As of press time, it was up 3.69% at HK$12.38, with a turnover of HK$81.7269 million. On the news front, market rumors suggest that Tesla has launched a new round of mass production factory audits for its Siasun Robot&Automation business. According to Shanghai Securities News, a local industry chain source in Ningbo confirmed to the Shanghai Securities News reporter that Tesla's relevant team has inspected the Siasun Robot&Automation businesses of Ningbo Joyson Electronic Corp. and other Ningbo-listed companies. Several of these listed companies have previously cooperated with Tesla for many years on new energy vehicle components and are expected to have some of their Siasun Robot&Automation components adopted in Tesla's mass-produced humanoid Siasun Robot&Automation Optimus. Citi believes that the audits and the upcoming capacity ramp-up are positive for Chinese Optimus suppliers and may boost investor sentiment after the Siasun Robot&Automation theme underwent a downward valuation re-rating since the end of May. Citi estimates that Tesla's Optimus exposure to Ningbo Joyson Electronic Corp.'s 2027 net profit is about 5%.