Shangwei New Materials bets on robots: market cap hits new high, briefly surpasses 90 billion yuan; Q3 R&D surges 23-fold
上纬新材押注机器人：市值盘中创新高，一度站上900亿，第三季度研发暴增23倍
Shangwei New Materials (688585.SH) saw its stock price reach an all-time high and a market capitalization of over 90 billion yuan on November 10, 2026. The company announced the release of consumer-grade embodied AI robots 'Qiyuan Q1' and 'Qiyuan T1', with a cumulative production run of 10,000 units as of September 2026. Despite a significant increase in R&D investment for this segment, the business remains in its early development stage with no confirmed revenue yet.
Shangwei New Materials announced the release of its consumer-grade embodied AI robots 'Qiyuan Q1' and 'Qiyuan T1', citing a cumulative production run of 10,000 units as of September 2026; however, the company states these units have not yet generated revenue or profit, with R&D spending for this segment accounting for approximately 90.92% of total R&D in the first half of 2026.
Source: Chinese robotics — Hardware and sensing · Read original article ↗
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今年9月，上纬新材发布消费级具身智能机器人“启元Q1”“启元T1”，目前累计下线达10000台。
Open source S9
上纬新材今年第三季度财报显示，研发投入达2.04亿元，同比暴增2305.34%，主要用于消费级具身智能机器人业务。
Open source S8
今年上半年，上纬新材研发投入合计1.8亿元，较上年同期增长738.66%，在总营收中的占比为22.46%。
Open source S15
其中，消费级具身智能机器人业务研发投入为1.6亿元，在研发投入中占比约为90.92%。
Open source S16
2026年一季度，上纬新材开始出现亏损，当期归母净利润亏损4106.86万元，同比下降282.12%；经营活动产生的现金流量净额为210.48万元，同比下降97.96%。
Open source S19
在今年半年报和三季报中，上纬新材持续亏损，其中第三季度亏损达2.55亿元，同比下降933.49%。
Open source S20
11月10日，该股盘中创下历史新高，市值一度站上900亿元。
Open source S3
Source：Chinese robotics — Hardware and sensing · msn.cn