Kinco Automation

Business

Kinco (上海步科自动化股份有限公司) makes servo drives and motors, stepper systems, inverters, PLCs and touchscreen HMIs. It reports sales by industry: robots, machine IoT (HMIs), general automation and medical imaging (2026 interim report, pp. 15, 16).

Results

In the first half of 2026 revenue rose 44.0% to ¥447.7m and net profit attributable to shareholders rose 39.2% to ¥36.3m (p. 8). Operating cash flow was negative ¥18.1m, which the company explains as stocking up because some materials were in tight supply, plus higher payroll (p. 8).

By industry (pp. 15, 16):

• Robots: ¥243.4m, up 62.3%, 54.4% of revenue.
• Machine IoT: ¥102.7m, up 31.3%.
• General automation: ¥73.2m, up 15.6%.
• Medical imaging: ¥26.5m, up 44.3%.

Frameless torque motors

The company says it shipped 113,600 frameless torque motors in the first half of 2026, up 422.9%, and 68,000 i-Kinco integrated servo modules, up 119.1%, as its Changzhou plant (phase one) ramped up (p. 15). Its robot business includes automated guided vehicles, collaborative arms, industrial arms and service robots as well as humanoids, so the filing does not show how many motors went into humanoids.

For humanoid robots, it says it has built a joint platform with frameless torque motors in sizes from 25mm to 120mm, and that it has made batch deliveries to several leading customers, which it does not name (p. 15). It has also launched a lightweight FMK frameless torque motor line with matching hollow-shaft drives for collaborative and humanoid robots (p. 16).

Where it stands

Kinco is small next to Inovance, with half-year revenue about 2% of Inovance's. It is, though, the only one of the listed servo makers covered here that discloses frameless motor shipments, and robots are already the majority of its sales.