Analysis of the Strong Performance of Kinco (688160)

Kinco (688160) rose strongly by 12.19% today, closing at 107.88 yuan, with a cumulative gain of 17.63% this week, ranking among the top five companies in the machinery and equipment industry in terms of gains[1][2]. Its rise is driven by multiple factors:

1. Industry Level
   : The domestic industrial robotics industry has strong policy support; robot density reaches 470 units per 10,000 people (third in the world), and humanoid robots are entering a critical stage of mass production preparation, driving demand growth for upstream core components[2][5]; as a core component, servo systems are undergoing a domestic substitution wave, and it is expected that the market share of domestic brands will increase from 42% in 2021 to 65% by 2027[4].
2. Company Level
   : It has technological advantages in the servo system field; its compact precision servo drive technology is leading, and products are widely used in scenarios such as AGV and intelligent sorting lines; institutional research in March 2025 shows that it has reached cooperation intentions with some international leading customers in industrial robotic arms and obtained some orders[3][4].
3. Capital Level
   : Financing balance increased by 37.28% month-on-month, and leveraged capital attention has risen[1].

1. Industry Prosperity Transmission
   : Policy dividends and domestic substitution trends in the industrial automation and robotics industry are accelerating transmission to downstream core component enterprises; as a domestic enterprise with leading technology in the servo system field, Kinco directly benefits from industry growth[2][4].
2. Technological Advantage Conversion
   : The company’s breakthrough in compact servo drive technology has solved industry problems such as electromagnetic compatibility and heat dissipation efficiency, making its products competitive in emerging application fields like AGV and service robot chassis, supporting performance growth potential[4].
3. Institutional Recognition Promotion
   : Institutions such as Guosen Securities have listed Kinco as a key investment target in the motor & servo system segment of the humanoid robot industry chain in 2026; increased institutional attention has enhanced market recognition of the company[6].

• The increase in domestic industrial robot density and mass production of humanoid robots will continue to drive demand growth for servo systems[2][5].
• The acceleration of domestic substitution for servo systems; as a technologically leading enterprise, the company is expected to expand its market share[4].
• Cooperation with international leading customers provides potential support for the company’s future performance growth[3].

• The servo system field is highly competitive; continuous technological innovation is required to maintain market position[4].
• Recent stock price gains are large; attention should be paid to the matching degree between valuation and performance growth[2].
• Changes in related industrial policies may affect the overall development of the industry[5].

• Kinco (688160) rose by 12.19% today, with a cumulative increase of 17.63% this week, entering the hundred-yuan stock club[1][2].
• Driving factors for the rise include industry policy support, domestic substitution demand, company technological advantages, and capital promotion[1][2][3][4][5].
• Short-term resistance level is 110 yuan, support level is 100 yuan; attention should be paid to risks of industry competition and valuation fluctuations[2].
• Industry prosperity and institutional recognition provide support for the company’s long-term development, but continuous attention to technological innovation and policy changes is needed[2][4][6].