Inovance Technology

Business

Inovance (深圳市汇川技术股份有限公司) has four business lines: industrial automation and digitalisation, electric vehicle powertrains, intelligent robots, and digital energy. The automation line covers inverters, servo systems, PLC and HMI controllers, high-performance motors, sensors and elevator components (2026 interim report, pp. 10, 13).

Results

In the first half of 2026 revenue rose 20.3% to ¥24.68bn, while net profit attributable to shareholders fell 5.4% to ¥2.81bn (p. 8). The company attributes the fall to its electric vehicle business, where weak domestic demand and higher raw material prices cut profit sharply (p. 21).

By business (p. 23):

• Industrial automation and digitalisation: about ¥13.5bn, up about 29%. General automation was about ¥11bn, up about 36%, of which servo systems were about ¥4.8bn, inverters about ¥3.3bn and PLC and HMI about ¥1.4bn.
• Electric vehicle powertrain: about ¥9.4bn, up about 4%.

Servo position

Inovance says that in the first half of 2026 it held about 35.2% of China's general-purpose servo system market by revenue, ranking first, according to industry data provider MIR Databank (睿工业). This is the whole market across industries, not robot joints. The company says its advantages over foreign brands are industry-specific solutions, value for money and fast delivery (p. 11).

Robots and humanoid parts

Inovance describes intelligent robots as a strategic new business (p. 13). In industrial robots, MIR Databank data cited in the report put its first-half 2026 share of China unit sales at 9.2%, third overall and second among domestic makers, with a 25% share in SCARA robots (p. 13).

For humanoid robots it supplies components. The list in the report includes bionic arms, joint modules, frameless torque motors, low-voltage DC drives, planetary roller screws and encoders (pp. 13, 25). The company says it has launched a seven-degree-of-freedom bionic arm in production form and has begun sampling to humanoid makers and research institutes. It says it has won component designations with some customers and that frameless motors are in small-batch use at leading humanoid makers, naming none (p. 25). It does not give humanoid revenue.

Where it stands

Inovance's servo business is a large, mature domestic leader. Its frameless motor business for humanoids is, by its own description, at the sample and small-batch stage, so the filings do not yet show how much of the servo lead carries over to robot joints.