Hot Analysis of Hengbo Co., Ltd. (301225): PEEK Materials + Robot Concept Drive Strong Stock Price Breakthrough

Hengbo Co., Ltd. (301225) performed strongly on January 19, 2026, closing at RMB 173 with an increase of 12.19%, a turnover of RMB 624 million, and a turnover rate of 12.54%. The closing price hit a 60-day high and entered the strong stock pool [1]. The core driving factor behind the stock’s strong performance today stems from the market’s continued optimism about the supply prospects of PEEK products for Tesla’s humanoid robots.

Hengbo Co., Ltd. is positioned by the market as a core supplier of PEEK products for Tesla’s humanoid robots, with the capability of a vertically integrated, full-industry chain platform for PEEK, covering the entire process of R&D, iteration, and rapid response [1]. According to the research logic of Shenwan Automobile, the company has 5 product drawings of PEEK components for humanoid robots in hand, with products extending from the hand to other parts; among them, the sleeve has been designated for small-batch production, and 4 products including the slide are close to finalization [1]. This technical layout has enabled the company to occupy a core position in the key material supply link of humanoid robots.

Recently, several institutions have released research reports strongly recommending Hengbo Co., Ltd.: Shenwan Hongyuan emphasizes the company’s diversified PEEK layout as a leading supplier of air intake systems [2]; Tianfeng Securities believes the company’s main business is steadily improving and its new businesses are actively deployed [3]; Huaxin Securities points out that as a leading enterprise in automobile and motorcycle air intake systems, the company is developing a new growth curve [4]. The valuation breakdown by Shenwan Hongyuan shows that the company’s main business corresponds to a market value of RMB 4 billion, and one PEEK component corresponds to a market value of RMB 6 billion. If all 5 PEEK components are finally implemented, even considering a certain discount, it points to a target market value of RMB 25-30 billion [1].

The penetration rate of PEEK materials in the robot field is breaking through the critical point. According to industry analysis data, the penetration rate of PEEK materials in robot joints and transmission systems reached 15% in 2025, and is expected to exceed 25% in 2026 [6]. This change means that PEEK has evolved from an “optional material” to a “mainstream design choice”, directly changing the market space calculation model. As a leading enterprise in the domestic PEEK material field, Hengbo Co., Ltd. is expected to fully benefit from the evolution of this industry trend.

In addition, the company stated on the interactive platform that the self-developed PEEK materials can be applied to multiple cutting-edge fields including commercial aerospace due to their excellent performance [5], further expanding the concept boundary and providing additional imagination space for the company.

From the capital perspective, the continuous inflow of main funds is an important factor driving the stock price up. Data shows that the net inflow of main funds was RMB 49.98 million on January 19, and RMB 42.96 million on January 16, accounting for 9.22% of the turnover [1]. Since entering the market on November 27, 2025, the main funds have experienced two reductions and one increase in positions, and have achieved a cumulative increase of about 64% so far [6].

In terms of market sentiment, the stock is actively discussed on platforms like Xueqiu, with multiple discussion posts analyzing from the trading level and fundamental logic, and the number of followers reaches 6,420. Huafu Technology Momentum Hybrid A Fund holds a heavy position in this stock, indicating high institutional recognition [8].

The strong performance of Hengbo Co., Ltd. reflects the cross-over and superimposed effect of multiple popular concepts. The company itself is a traditional auto parts enterprise, whose main businesses include ICE & HEV air intake systems, fuel evaporation systems, and new energy vehicle thermal management systems. It is the largest motorcycle air filter manufacturer in China, and was rated as a “National Specialized, Sophisticated, Unique, and New Little Giant” enterprise by the Ministry of Industry and Information Technology [1]. However, the current driving force for the stock price increase mainly comes from expectations for emerging businesses, rather than performance contributions from traditional main businesses.

This combination of “traditional main business + cutting-edge concepts” not only provides a margin of safety (the main business corresponds to a market value of about RMB 4 billion), but also offers flexibility (the PEEK business corresponds to a higher valuation premium). Shenwan Hongyuan’s valuation framework is built based on this logic, decomposing the company’s market value into the valuation of the main business plus the valuation of each PEEK component [2].

From the valuation perspective, the current dynamic price-earnings ratio (PE) is about 142 times, and the price-to-book ratio (PB) is 11.66 times, which is in the historical high range [1]. This valuation level reflects the market’s optimistic expectations for the company’s PEEK business, but it also means that the expectations have been largely reflected in the stock price. If the subsequent product finalization progress or order fulfillment falls short of expectations, there will be a high risk of valuation correction.

Another structural factor worthy of attention is the share distribution. The number of shareholders of the company is only 8,446, and the relatively concentrated share distribution means that the stock price may fluctuate sharply [1]. At the same time, 12.59% of the shares (about 13.02 million shares) will be unlocked in June 2026, which may put pressure on the medium and long-term stock price.

Hengbo Co., Ltd.'s position in the industry chain of PEEK materials is the source of its core competitive advantage. The company is one of the few domestic enterprises with the capability of a vertically integrated full industry chain for PEEK. This full industry chain layout enables it to respond quickly to customer needs and shorten the product iteration cycle. However, whether this advantage can be converted into actual performance depends on the order fulfillment of leading customers such as Tesla. In the future, it is necessary to focus on the finalization rhythm of V3, the designation of new products, and the actual progress of PEEK order fulfillment.

The current dynamic PE ratio is about 142 times, significantly higher than the industry average, and it is difficult for the performance to match such a high valuation in the short term [1]. If market sentiment shifts or performance fails to meet expectations, there will be a large room for valuation correction.

The cumulative increase in the past month has reached 64%, and today’s increase exceeds 12%, so the stock price has largely reflected optimistic expectations [6]. After approaching the 52-week high of RMB 176.86, there is technical pressure.

The application of PEEK materials in the commercial aerospace field is still in the conceptual stage, and the company has “not yet involved” in this field. It is necessary to pay attention to the gap between expectations and reality [6].

13.02 million shares will be unlocked in June 2026, accounting for 12.59% of the total share capital, which may put periodic pressure on the stock price [1].

If the mass production progress of humanoid robots falls short of expectations, it will directly affect the release rhythm of demand for PEEK materials [6].

The penetration rate of PEEK materials has exceeded the 25% critical point, and the trend of humanoid robots moving from concept to mass production is increasingly clear. As a core supplier of Tesla, Hengbo Co., Ltd. is expected to fully benefit from this industrial transformation.

Intensive recommendations from multiple securities firms have formed a consensus expectation, and the continuous attention of institutional funds provides liquidity support for the stock price. The heavy position held by Huafu Technology Momentum Hybrid A Fund further confirms the professional recognition of institutions [8].

Among the 5 product drawings of PEEK components in the company’s hand, the sleeve has been supplied in small batches, and 4 products are close to finalization [1]. If the subsequent product designation and mass production proceed smoothly, it will bring substantial performance growth to the company.

From the time dimension,

requires caution. The current increase is large, and the stock faces resistance from previous highs, so the risk of chasing the high is high. requires close attention to the finalization progress of Tesla Robot V3, the designation of new products, and the fulfillment of PEEK orders, which is a critical window period to verify the company’s growth logic. requires tracking the overall development process of the humanoid robot industry and the improvement of the company’s actual position in the industry chain.

The core driving force behind the strong performance of Hengbo Co., Ltd. (301225) today is the market’s recognition of the company’s core position in the PEEK supply chain for Tesla’s humanoid robots. The company has the capability of a vertically integrated full industry chain for PEEK. Among the 5 product drawings of PEEK components in hand, the sleeve has been supplied in small batches, and 4 products including the slide are close to finalization. Intensive recommendations from multiple securities firms have formed a consistent bullish expectation [1][2][3][4]. Main funds have continued to participate since entering the market at the end of November, with a cumulative increase of about 64%.

From the valuation perspective, the company’s main business corresponds to a market value of about RMB 4 billion, and the PEEK business contributes the main valuation premium. Institutions such as Shenwan Hongyuan see a target market value of RMB 25-30 billion. However, the current valuation level with a PE ratio of about 142 times is at a historical high, and the stock price has largely reflected optimistic expectations. At the same time, it is necessary to pay attention to the share unlock risk in June and the uncertainties of product finalization and order fulfillment.

For subsequent developments, three aspects need to be focused on: first, whether the stock price can effectively break through the resistance of the 52-week high of RMB 176.86; second, whether the trading volume can continue to expand in coordination; third, the finalization progress of Tesla Robot V3 and the rhythm of new product designation. In the short term, it is recommended to be cautious about chasing highs, and wait for a pullback to accumulate positions at low prices; in the medium term, maintain close attention to the fulfillment of substantive orders; in the long term, track the evolution of the humanoid robot industry trend.