Fengguang Precision (920510) Strong Limit-Up Analysis: Driven by Both Industry and Technology

The event occurred on December 30, 2025 (UTC+8), when Fengguang Precision (920510) showed a strong 20% limit-up performance on the Beijing Stock Exchange.

In 2025, robot industry orders grew explosively, with annual financing exceeding 57 billion yuan and 610 financing events (a year-on-year increase of nearly 3 times) [2]. On December 26, the Ministry of Industry and Information Technology (MIIT) established the

to promote the standardization of the industry and provide long-term development guarantees for industrial chain companies [2].

Fengguang Precision has mass production capacity for the full series (03-32 models) of harmonic reducers, among which the 03, 05, and 08 models fill domestic gaps, with technical strength comparable to international giants [4]. The company is a member of the MIIT’s Humanoid Robot and Embodied Intelligence Standardization Technical Committee and occupies an important position in industry standard formulation [4]. Its harmonic reducers have been applied in humanoid robots, industrial robots, exoskeleton robots, and other fields, with good market prospects [3].

As of 14:21 on December 30, 2025, Fengguang Precision’s stock price rose 20.68% to 24.1 yuan per share, hitting the Beijing Stock Exchange’s 20% limit-up threshold [1]. The daily turnover was 324 million yuan, with a turnover rate of 15.91% [1], far higher than the recent average, indicating high market participation enthusiasm, but we need to be alert to subsequent profit-taking pressure.

The robot track became a capital hot spot in 2025, with accelerated commercialization of humanoid robots and strong market expectations for demand for core components [2]. The company’s harmonic reducer technology breakthrough and membership in the standardization committee have boosted market confidence in its future development [4].

• Growing demand for robot core components; the company’s leading harmonic reducer technology gives it development potential [4].

• Valuation Risk
  : The company’s current dynamic P/E ratio is -378.95x, indicating significant recent profit pressure [1].
• Industry Overheating Risk
  : There are signs of “false prosperity” in the robot industry; some orders are framework agreements or related-party transactions, so we need to be alert to industry corrections [2].
• Financial Pressure
  : In the first half of 2025, the company’s revenue decreased by 15.04% year-on-year, with a net loss of 1.5 million yuan. Although it turned profitable in Q2, its sustained profitability remains to be seen [5].

Fengguang Precision (920510)'s strong limit-up today is mainly driven by the robot industry boom and its own technological breakthroughs. Industry policies and capital support provide long-term benefits, but factors such as the company’s weak financial fundamentals, high valuation, and industry overheating pose challenges to the sustainability of the market trend. Investors need to pay attention to the sustainability of the limit-up and the company’s subsequent profit improvement.