HK Stock Market Move | Siasun Robot&Automation concept stocks extend declines; Unitree Robotics hits a new post-listing low; JP Morgan initiates coverage with an "Underweight" rating.

Siasun Robot&Automation concept stocks extend declines. As of press time, Shenzhen Zhaowei Machinery & Electronics (02692) fell 11.44% to HK$30.5; DOBOT (02432) dropped 5.39% to HK$19.66; Lens Technology (06613) declined 4.78% to HK$20.72; Zhejiang Sanhua Intelligent Controls (02050) fell 4.25% to HK$22.98; MECH-MIND ROBOT (09615) dropped 2.87% to HK$79.65. On the news front, on October 8, Unitree Robotics closed down more than 5%, hitting a new low, with a total market capitalization of approximately RMB 173 billion. The stock price has fallen more than 61% from its peak of RMB 1,100 on its debut day. JP Morgan initiated coverage on Unitree Robotics with an "Underweight" rating and set a target price of RMB 300 for December 2027. The bank remains constructive on the long-term outlook for the humanoid Siasun Robot&Automation industry and acknowledges Unitree's hardware platform and first-mover advantages. However, it believes that Unitree's current valuation has fully priced in expectations of "flawless execution." According to a recent report by Cailian Press, a reporter learned from interviews with investment banking professionals from multiple parties that some investment banking personnel have received reminders from their companies regarding hard-tech IPOs, including those in the Siasun Robot&Automation industry. If a company's industry position is not prominent enough, its listing process may be affected. A leading securities firm told the reporter that investment banking personnel did not receive the notice in the form of window guidance; the relevant content is more aimed at consolidating the front-end gatekeeping responsibilities of sponsor institutions.