HK Stock Market Move | Shenzhen Zhaowei Machinery & Electronics (02692) falls over 4%; net profit attributable to shareholders for the first three quarters down 32.35% year-on-year, as demand from downstream robot vacuum segment customers slows.

Shenzhen Zhaowei Machinery & Electronics (02692) fell over 4%, down 4.29% as of press time to HK$29.92, with turnover of HK$33.8504 million. On the news front, Shenzhen Zhaowei Machinery & Electronics recently announced that for the first three quarters of 2026 it achieved operating revenue of RMB1.262 billion (same currency hereinafter), up 0.53% year-on-year; net profit attributable to shareholders of the listed company was RMB123 million, down 32.35% year-on-year. Sinolink noted that Zhaowei Motor's Q3 2026 single-quarter revenue was RMB445 million, down 4.94% year-on-year and down 2.95% quarter-on-quarter, mainly due to slowing demand from downstream robot vacuum segment customers. The company's gross margin for the first three quarters was 31.35%, down 0.89pct year-on-year; Q3 single-quarter gross margin was 32.43%, down 0.26pct year-on-year and up 2.10pct quarter-on-quarter, a marked sequential improvement. The bank believes the company has industry-leading materials, processes and product understanding in the micro-drive field, and has also built a well-established North American customer channel; when North American customers subsequently enter a volume ramp-up cycle, the company will be a core beneficiary.