Swancor Advanced Materials (SH:688585) Mei Ri Jing Ji Xin Wen·2025-11-12 06:44Core Viewpoint - The recent announcement by the WeChat account "Zhiyuan Shangwei" regarding a humanoid robot from the listed company Shangwei New Materials has led to a significant surge in the company's stock price, which has increased by 1863.8% year-to-date. However, the company clarified that its humanoid robot business is still in the product development stage and has not yet generated revenue or profit, indicating potential risks for investors [1][5]. Group 1: Company Developments - The humanoid robot is interpreted to be 1.88 meters tall, and the company is independently developing its embodied intelligence business, distinct from its affiliate Zhiyuan [1][2]. - Shangwei New Materials' humanoid robot will target different application scenarios compared to Zhiyuan's products, which include humanoid, quadruped, and commercial cleaning robots [2][3]. - The company is currently focused on high-performance corrosion-resistant materials and is in the early stages of developing its embodied intelligence business, which requires overcoming significant technological challenges [3][4]. Group 2: Market Competition and Risks - The potential for competition between Shangwei and Zhiyuan is heightened due to overlapping technology and talent needs in the embodied intelligence sector, making it crucial for the company to clearly delineate its product and personnel strategies [3][4]. - The management's ability to allocate resources effectively and avoid redundant investments is a concern, especially with key figures from Zhiyuan being nominated for Shangwei's board [4]. - The market is wary of how the two companies will manage their relationship and whether there will be any associated transactions, particularly given the shared technological foundation [4][5].