On the first trading day of the new year, the stock prices of domestic robotics corporations showed a sharp upward trend as Doosan Robotics and Rainbow Robotics competed for the position of the leading company in the robotics sector.
Doosan Robotics shares closed at 67,000 won on the KOSPI market. The stock price rose 28.11% (14,700 won) compared to the previous trading day, recording a market capitalization of 43.429 trillion won. Rainbow Robotics immediately hit the daily price limit upon opening, finishing the day with a market capitalization of 41.031 trillion won.
The entry of global technology giants into the humanoid robot (robots resembling the human body) business has improved investor sentiment across the domestic robot sector, fueling the rise in stock prices. On that day, all 47 listed companies classified as robotics-themed stocks, including Doosan Robotics and Rainbow Robotics, saw their prices increase.
As stock prices soared, competition between Doosan Robotics and Rainbow Robotics for the top market capitalization in the robotics sector intensified. The difference in market capitalization between the two corporations narrowed to 239.8 billion won. During the day, Rainbow Robotics occasionally surpassed Doosan Robotics in market capitalization.
Doosan Robotics went public in October 2023 and maintained its position as the leading robotics stock since the following month. At one point, the market capitalization gap between the two companies exceeded 4 trillion won. Since then, the gap, which had been around 2 trillion won, has narrowed rapidly since July of last year.
At that time, the Doosan Group announced a business restructuring plan that involved transferring Doosan Bobcat, under Doosan Enerability, to become part of Doosan Robotics. However, as general shareholders protested and the Financial Supervisory Service intervened, the Doosan Group withdrew the related extraordinary general meeting last month.
With the collapse of the business restructuring plan, Doosan Robotics' stock price fell to 49,850 won during trading last month. This marked the first time that Doosan Robotics' stock price had hit the 40,000 won range since its listing.
Rainbow Robotics has undergone a prolonged stock price adjustment since reaching its peak in September 2023, but it has benefited from the halo effect of Samsung Group. This is because Samsung Electronics announced that it would exercise a call option on its Rainbow Robotics shares on the 31st of last month.
When the transaction from the exercise of the call option concludes in February, Samsung Electronics' equity stake in Rainbow Robotics will increase from 14.7% to 35%. Rainbow Robotics will be incorporated as a subsidiary on the consolidated financial statements of Samsung Electronics. Samsung Electronics also holds additional call options for Rainbow Robotics shares. If all are exercised, the ownership stake could rise to around 59%.
Lee Ji-ho, a researcher at Meritz Securities, noted, "Rainbow Robotics is likely to generate revenue from (Samsung Group) affiliates, and it is expected to achieve exports within this year by leveraging its expanded global sales network."
However, there are opinions that it remains to be seen whether the upward trend in stock prices will continue. Doosan Robotics needs a rebound in demand for collaborative robots, while Rainbow Robotics is a latecomer in the humanoid robot sector compared to global companies.
Lee Sang-su, a researcher at iM Securities, commented, "The Doosan Group's governance issues have been resolved, and collaborations between Samsung Electronics and Rainbow Robotics are positive factors for rising stock prices in the robotics sector," adding that "the characteristics of high volatility in the sector also need to be considered."