Zhongda Leader
中大力德Ningbo gear motor and precision reducer maker with integrated drive units; revenue is growing but reducer margins fell sharply in H1 2026.
- RevenueH1 2026
- ¥596.6mup 15.6%
- Net profit attributable to shareholdersH1 2026
- ¥27.8mdown 40.1%
- Precision reducer gross marginH1 2026
- 14.6%down 9.0 points
Overview
Business
Zhongda Leader (宁波中大力德智能传动股份有限公司) builds motion-control components around three core parts: motor drives, small motors and precision reducers. Its range of nearly a thousand products includes gear motors, planetary reducers, precision cycloidal (RV) reducers, harmonic reducers, servo drives, and integrated units (see robot joint actuators) that combine a reducer, servo motor and drive in one package (2026 interim report, p. 9).
Its products go into robots, logistics equipment, machine tools, new-energy equipment, electronics manufacturing, medical devices and packaging machinery. The end customers it names include Noblelift, Hangcha Group, Hikvision, Maersk, Sany International, AgiBot (智元机器人) and Leadshine (p. 9).
Results
In the first half of 2026, revenue rose 15.6% to ¥596.6m, but net profit attributable to shareholders fell 40.1% to ¥27.8m. The company describes this as "rising revenue, falling profit" caused by industry competition (p. 9).
By product line (p. 11):
- Integrated actuator units: ¥252.9m of revenue at a 22.5% gross margin, down 4.6 points.
- Gear motors: ¥196.3m at 31.5%, down 0.5 points.
- Precision reducers: ¥133.6m at 14.6%, down 9.0 points.
Sales outside China fell 16% to ¥44.3m, 7.4% of revenue (p. 11). The company has a production subsidiary in Thailand (p. 14).
Planned share placement for robot joints
On 28 September 2026 Zhongda Leader's board approved a private placement of up to 58,956,801 new A shares to raise up to ¥530m. Planned uses (placement plan, pp. 4, 15-16):
- ¥250m towards a ¥334.6m production project for joint modules for embodied-AI robots.
- ¥150m towards a ¥195.2m production project for distributed actuator units for industrial automation.
- ¥30m to upgrade its R&D centre, and ¥100m of working capital.
The placement still needs shareholder approval, review by the Shenzhen Stock Exchange and registration with the China Securities Regulatory Commission. The company's founders would remain in control (p. 17).
Where it stands
Zhongda Leader reports harmonic reducers together with its planetary and RV reducers, so its harmonic volumes are not disclosed. What the filing does show is that its precision reducer business earns well under half the margin of the market leader Leaderdrive, and that the gap widened in 2026.
Key metrics
| Metric | Period | Value |
|---|---|---|
| Revenue2026 interim report, p. 10 | H1 2026 | ¥596.6mup 15.6% |
| Net profit attributable to shareholders2026 interim report, p. 9 | H1 2026 | ¥27.8mdown 40.1% |
| Precision reducer gross margin2026 interim report, p. 11 | H1 2026 | 14.6%down 9.0 points |