As of mid-2025 we are co-developing a full product line with customers through R&D, trial‑production, iteration and sample‑delivery. We frame this as expanding into bionic‑robot electromechanical actuators, leveraging motor‑manufacturing expertise to aim for lighter, smaller, higher‑precision units. It is not mass production, carries no separately disclosed revenue line, names no robot customer and is not a reported segment. Filings use only the generic term “electromechanical actuators.”
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Where I am genuinely dominant is the core: a near-exclusive global supplier of air-conditioning electronic-expansion and solenoid valves, thirty years in, plus a top-tier supplier of EV thermal management. FY2025 revenue was ¥31.0 billion, net profit ¥4.06 billion up 31%, net cash of roughly ¥10.5 billion, near-zero goodwill, dividend-paying. Both businesses sit mostly outside the AI and robot conversation. The two legs that touch it - humanoid actuators and data-center cooling - are real but early. The actuator work is at trial-production and sample-delivery, carries no disclosed revenue line, and names no robot customer; an outside analyst headlines me as its actuator-assembly pick, which is a forward bet on my core translating, not a market-share fact. The data-center push is a direction, not yet a sized business. I completed a Hong Kong listing in July 2025. I will not size what I have not booked.
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Our HK listing changes access, but the durable fact is our core: HVAC&R and refrigeration components — valves, microchannel heat exchangers, pumps, controllers, sensors — are about 60% of revenue, with a near-exclusive global position in electronic-expansion and solenoid valves built over 30 years. Auto and EV thermal is the other ~40%, a top-tier NEV supply-chain position. Both are large, real, and sit mostly outside the AI and humanoid conversation. The actuator and data-center legs are real but early — trial-production, sample-delivery, not sized, not yet segments.
The logic: actuators are roughly 33‑60% of a humanoid’s bill of materials – the single biggest cost bucket – and assembly is a scale, integration and cost game rather than a proprietary‑IP game, which is Sanhua’s home turf given its motor‑manufacturing scale and cost base. An outside analyst ranks our actuator assembly as its ‘adoption‑certainty’ pick on that logic, a forward‑looking bet, not a current market‑share fact. Our disclosure shows the actuator business is emerging and pre‑mass‑production, and the humanoid market is pre‑volume, so no one is dominant yet.
We report HVAC&R and refrigeration components represent about 60% of revenue, covering valves—electronic‑expansion, four‑way reversing, stop, solenoid and ball—microchannel heat exchangers, pumps, controllers and sensors for residential and commercial air‑conditioning, refrigeration, cold‑chain and heat‑pump markets.
Our HVAC&R and refrigeration components — valves (electronic expansion, four-way reversing, stop, solenoid, ball), microchannel heat exchangers, pumps, controllers, sensors — make up about 60% of revenue across residential and commercial AC, refrigeration, cold chain, and heat pumps. We describe a near-exclusive global supply position in air-conditioning electronic-expansion and solenoid valves, a 30-year lead with multiple products ranking top globally. The auto and EV thermal business is the other ~40%. Both are large, real, and sit mostly outside the AI and humanoid conversation.
On data centers, keep the claim exactly as small as the disclosure. We report advancing projects around the global data-center and computing-power industry, with the AI build-out a named tailwind for commercial-AC exports. As a thermal-components leader we are structurally a capable potential supplier into liquid cooling, but the leg is not sized, our filings do not use "liquid cooling" explicitly, and no liquid-cooling product is disclosed. This remains an emerging direction, not a substantiated revenue line.
Read the Q1 2026 quarter carefully rather than at the headline. Revenue ¥7.77B (+1.4%), net profit ¥928M (+2.7%) — but profit excluding non-recurring items grew 15.5%. The headline stall is mostly non-operating: a ~¥102M fair-value swing on derivatives and FX against tough 2025 comps. Operating cash flow surged ~136%. Part of the softness also reflects the larger share count from our Hong Kong listing. The operating business decelerated but did not stall; the optics overstate it. Trend still needs confirmation in coming quarters, alongside US-tariff cost-sharing we are negotiating.
Our FY2025 revenue was ¥31.0 billion, up about 11%: HVAC&R components ¥18.58 billion (+12%), auto and EV thermal ¥12.43 billion (+9%). Net profit ¥4.06 billion, up 31%; gross margin near 29%, ROE 15.8%. Net cash ~¥10.5 billion (¥14.3B cash vs ¥3.8B debt), near-zero goodwill, dividend paid. R&D: 3,671 staff (19% of workforce), 4,680 patents. 57% domestic, 43% overseas revenue; four overseas bases, 80+ countries.
As of mid-2025 we are co-developing a full electromechanical-actuator product line with customers through R&D, trial-production, iteration, and sample-delivery. Not mass production. No separately disclosed revenue line, no robot customer named, not a reported segment. Our filings use only the generic term "electromechanical actuators" — not "linear actuator," "dexterous hand," "harmonic reducer," or "roller screw." This is a real but emerging leg; we will not size it beyond what has been booked, which is nothing yet.
Actuators are 33-60% of a humanoid's BOM — the single biggest cost bucket — and assembly is a scale, integration, and cost game, not a proprietary-IP one, which is our home turf given our motor-manufacturing scale. An outside analyst ranks our actuator assembly as its 'adoption-certainty' pick on that logic. That is a forward bet on our proven core translating, not a current market-share fact. Our disclosure shows the actuator business is emerging, pre-mass-production, and the humanoid market is pre-volume — no one is dominant yet.