Joyoung Co., Ltd. (002242) sealed its daily limit-up again in the afternoon of October 9, closing with five consecutive limit-ups, after repeatedly hitting and breaking the limit earlier in the morning. The share price swing stemmed from the market linking the company to hot concepts such as robotics and AI, brain-inspired AI, and Huawei and HarmonyOS. On the evening of October 8, Joyoung stated in an announcement on abnormal stock trading that it currently holds a 7.92% stake in Deep Thinking Artificial Intelligence Robot Technology (Beijing) Co., Ltd., and clarified that as of October 8, 2026, it has no strategic partnership with Huawei as claimed in market rumors. Qichacha data shows that both Joyoung and Huawei hold stakes in Deep Thinking, with Huawei investing through its affiliated investment vehicle, and Joyoung and Huawei are both listed as partners on Deep Thinking's official website. Joyoung also said that through its wholly owned subsidiary Hangzhou Joyoung Small Appliances Co., Ltd., it has taken a stake in Xiangke Intelligent Technology (Beijing) Co., Ltd., a financial investment in the robotics-related field, whose business is still in an early stage and has no material impact on current operating revenue or profit. The company stressed that its main business remains the research, development, production, and sales of kitchen small appliances and related products. In the first half of this year, it achieved revenue of 3.489 billion yuan, down 12.49% year on year, and net profit attributable to the parent of 71.7732 million yuan, down 41.52% year on year.
Joyoung Co LtdJoyoung clarified it has no strategic partnership with Huawei and its robotics/AI stakes are early-stage financial investments with no material impact, while its core kitchen-appliance business saw H1 revenue down 12.49% and net profit down 41.52%.
Xiangke Intelligent is mentioned only as a robotics-related financial investment by Joyoung's subsidiary, with business still early-stage and no material impact on revenue or profit.
