Leadshine Technology

Business

Leadshine (深圳市雷赛智能控制股份有限公司) makes motion control products: AC and low-voltage servo drives and motors, stepper systems, controllers and PLCs. Its robot parts include high-density frameless torque motors, hollow encoders, coreless motors, harmonic and planetary joint modules and dexterous hands with high, medium and low degrees of freedom (2026 interim report, p. 9).

Results

In the first half of 2026 revenue rose 39.9% to ¥1.25bn and net profit attributable to shareholders rose 62.8% to ¥193.6m (p. 7). Gross margin was 39.15%, up 0.37 points (p. 11). The company says it kept most prices unchanged despite rising raw material costs (p. 11).

Robots

The company calls mobile robots a second track beside smart manufacturing. It says its frameless torque motors, high-degree-of-freedom dexterous hands and joint modules made market progress in the half, with order size and customer coverage up "significantly" (p. 11). It gives no robot revenue, units or customers, so its robot business cannot be sized from the report.

Planned share placement

The China Securities Regulatory Commission approved the registration of a private placement of new shares by Leadshine in a letter announced on 4 September 2026, valid for 12 months (announcement). The offering document sets the maximum at ¥1,144.3m: ¥753.2m for a project to develop and industrialise core motion-control components for intelligent equipment, ¥141.1m for IT and smart warehousing, and ¥250m for working capital. The controlling shareholder would not change (offering document, p. 4). The stated projects name factory automation, not robots.

Where it stands

Leadshine's growth is mainly from factory automation. It sells the same kind of frameless motors as Kinco and Inovance, and the report does not give volumes for them.