On May 25, Inovance Technology (SZ300124, stock price 78.83 yuan, market value 213.4 billion yuan) disclosed the “Investor Relations Activity Record Form (April 30 ~ May 21, 2026)”, which covers specific object research, road shows and the 2025 annual shareholders’ meeting.
The record sheet shows that the company’s chairman and president Zhu Xingming, director, vice president and secretary Song Junen, and financial director Liu Yingxin have conducted multiple rounds of in-depth exchanges with investors on hot topics such as the recovery driving force of the industrial control industry, product price increases and delivery repairs, intelligent robot strategy, digital energy layout, and AIDC (artificial intelligence data center).
As for the core logic of this round of industrial control (industrial automation control) recovery, Inovance Technology believes that it is mainly driven by three aspects.
First, it is driven by emerging industries. AI drives demand for the entire industrial chain from materials, PCBs (printed circuit boards), chips to machine tools. Energy storage, humanoid robots, etc. have also formed new industry pulls. Secondly, driven by the start of the “15th Five-Year Plan”, cross-regional and cross-local government investment projects have increased, such as water conservancy, transportation, energy and other related strategic projects. Finally, there is the demand for independent controllable industries, with rising demand for independent controllable products in petrochemical, transportation, energy and other fields.
Faced with the recent changes in raw material prices and tight delivery deadlines in the industrial automation industry, Inovance Technology stated that it has made price adjustments based on rising raw material prices, and price transmission in the industrial automation field has been relatively smooth; however, the company’s orders in the first quarter were relatively good, but due to insufficient production capacity preparations, delivery fell short of expectations, and it is accelerating to catch up in the second quarter.
When asked by investors about the “expansion logic from servo to industrial robots to intelligent robots,” Inovance Technology explained: Intelligent robots are the most important physical carrier for the implementation of AI in industrial scenarios. Traditional industrial robots are suitable for single-variety, large-volume, long-cycle stable production, but ordinary industrial manufacturing is more of a multi-variety, small-batch, flexible scenario, and the scope of application of traditional industrial robots is limited.
Taking the manufacturing scenario in which Inovance Technology operates as an example, traditional industrial robots can cover less than 50 types of more than 500 types of manufacturing scenarios currently, while smart robots are expected to cover 70% to 80% of jobs in the future.
As for the timetable for the launch of humanoid robots that investors are concerned about, Inovance Technology said that the first batch of humanoid robots in home scenarios may focus on three types of demand directions: parent-child education, emotional companionship, and elderly care, while industrial scenarios will be implemented faster. This year, two to three industrial scenarios will be actively promoted to enter the practical stage.
Inovance Technology also emphasized that the humanoid robot industry is still in a very early stage, with components and complete machines in a stage of rapid evolution. There are good opportunities in the future. The company will rely on its rich industrial scene resources to promote the implementation of humanoid robot solutions in the industrial field.
As for the future layout plan of the company’s automation products that investors are concerned about, Inovance Technology stated that the company must continue to improve its market position through new architecture and new technology reconstruction: first, using technological trends such as digitalization, intelligence, and wirelessness to form new product and solution architectures; second, leveraging the complete scenario advantages of China’s manufacturing industry, using Chinese manufacturing and Chinese technology for global industrial manufacturing upgrades; third, promoting the implementation of AI in industrial scenarios, giving priority to scenarios such as predictive maintenance and inspections.
In addition to PLC (programmable logic controller), Inovance Technology has deployed a variety of new products such as screw guides, pneumatics, sensors, and high-performance motors under the industrial automation segment. Among them, the company has begun to develop pneumatic products in recent years. The current core product is solenoid valves. The scale this year is expected to be about 100 million to 200 million yuan, and it still needs time to cultivate.
As for the issues that investors are concerned about, such as the company’s overseas revenue ratio has not exceeded 10%, Inovance Technology admitted frankly that overseas business expansion is slow, mainly due to three factors. First, the global industrial automation market is highly fragmented and cannot rely on a single agent or simple direct sales to quickly increase volume; second, the company replaces European and American,
Japanese brands have strong customer brand inertia; third, the company adheres to the “industry line going overseas” route. It usually takes time for customers to recognize and contact customers and then purchase in bulk, and short-term start-up is slow. At the same time, products need to adapt to local user habits and standards, especially product standards in the European market. Servo, inverter, PLC and other products need to be continuously upgraded.
In terms of the new growth curve, Inovance Technology clearly stated that intelligent robots, digital energy and AI smart manufacturing may be the next curve to succeed new energy vehicles and drive the company’s growth; in terms of digital energy business, the company has judged that the energy system will undergo major changes in “source, network, load, storage, carbon” and other links, and has made a layout around PCS (energy storage converter), network technology and system-level solutions.
