Aishida Bets on Humanoid Robots as Six-Year Losses Top RMB 1 Billion

Aishida has begun laying out its presence in humanoid robotics and signed a comprehensive strategic cooperation agreement with Zhiyuan Innovation in July. The company is seeking a new growth engine in embodied intelligence, though the new business has yet to generate meaningful revenue.

As of September 6 this year, Aishida's embodied-intelligence robot business had generated only RMB 137,200 in revenue, contributing minimally to overall sales. In the first half, the company reported a net loss attributable to shareholders of RMB 93.4142 million and a non-GAAP net loss of RMB 104 million, underscoring persistent pressure on its core operations.

From 2020 to 2025, Aishida has posted non-GAAP net losses for six consecutive years, with cumulative losses exceeding RMB 1 billion. Its subsidiary Qianjiang Robot continued to lose RMB 27.601 million in the first half, with net assets of negative RMB 269 million, leaving it insolvent.

Against the backdrop of a struggling main business and an insolvent subsidiary, whether Aishida's bet on humanoid robots can reverse its performance decline remains to be seen. Although its partner has technical expertise in robotics, the impact of the cooperation on the listed company's financials has yet to materialize, and the market is watching for follow-up orders and commercialization progress.