Hota Industrial MfgHota Industrial Mfg 1536 ↗

Caveat

Hota's base automotive and motorcycle gear business remains loss-making on the most recent disclosed figures: Q1 2026 EPS was -NT$0.52 and Q2 2026 EPS -NT$0.59 (histock.tw compilation of reported quarterly EPS), a cumulative H1 2026 loss of roughly -NT$1.11 per share, following a full FY2025 loss of -NT$2.74 per share attributed to customer inventory corrections in the automotive supply chain. Monthly revenue has stabilised -- June 2026 revenue was NT$367.0m (+3.82% YoY) -- but nothing in the disclosed financials shows a return to profitability yet.

Against that backdrop, the entire Tesla Optimus growth case rests on Taiwanese trade press, not company disclosure or revenue: Hota was reported in March 2025 as the first Taiwanese company invited into Tesla's Optimus supply chain, to produce the planetary-reducer joint component, described at the time as 'in the qualification phase' with shipments targeted 'by the end of the year' (2025). Coverage located from 2026 repeats essentially the same language -- qualification stage, shipments expected by year end -- without a confirmed shipment, order value, or unit count ever having been disclosed at any point across that period; this is exactly the pattern this site's discipline treats as a claim, not a fact (a sample or a qualification is not an order, and an order would not be revenue).

Separately, Hota has a joint venture, Meng-Ying Technology (co-invested with Mirle Automation), targeting harmonic reducers for robot joints -- also pre-revenue. New capacity additions (reported as plants 5 and 6) are guided by sell-side, not company, estimates at roughly NT$4.0-4.5bn of additional annual output value.

This is the weakest of the three Taiwan names promoted here: a currently loss-making gear supplier whose robotics upside is an unconfirmed, single-customer qualification relationship.

风险提示

按最新可查数据，和大的基础汽车与摩托车齿轮业务仍处于亏损：2026 年第一季 EPS 为 -0.52 元，第二季 EPS 为 -0.59 元（据 histock.tw 汇总的已公告季度 EPS），上半年累计每股亏损约 -1.11 元，此前 2025 全年每股亏损 -2.74 元，归因于汽车供应链客户库存调整。月营收已趋稳——2026 年 6 月营收 3.670 亿元（同比 +3.82%）——但已披露财务数据尚未显示公司恢复获利。

在此背景下，特斯拉 Optimus 增长叙事完全建立在台湾产业媒体报导之上，而非公司披露或收入：2025 年 3 月有报导称和大成为首家获邀进入特斯拉 Optimus 供应链的台湾厂商，负责生产行星减速机关节部件，当时称“正处于认证阶段”，出货目标为“（2025）年底前”。查到的 2026 年报导措辞基本相同——认证阶段、预计年底出货——整个期间从未披露过任何已确认的出货、订单金额或台数；这正是本站纪律中被视为“说法”而非“事实”的典型情形（送样或认证不是订单，订单也不是收入）。

此外，和大与盟立共同投资的盟英科技，目标是机器人关节用谐波减速机，同样尚无收入。新增产能（报导称为第五、六厂）的年产值增量（约 40-45 亿元）来自卖方估算，而非公司披露。

这是本次提升的三家台湾企业中最弱的一家：一家目前仍在亏损的齿轮供应商，其机器人业务上行空间建立在一段未经确认、且仅涉及单一客户的认证关系之上。