Constituents  ›  Leader Harmonic Drive

Leader Harmonic Drive绿的谐波

688017.SH Components & actuators
Index weight
5.27%
Rank #6 of 41
Market cap
$10.3B
USD, live
PAI exposure
95%
Revenue from Physical AI
HQ
Suzhou
Founded 2011

About

China's largest harmonic reducer manufacturer with 60%+ domestic market share, supplying Tesla Optimus, UBTECH, Xiaomi, and AgiBot; expanding into planetary roller screws.

Suzhou, Jiangsu · Founded 2011 · Company website

Why in the Index

Pure-play harmonic reducer maker. The dominant Chinese supplier into industrial robot and humanoid joint assemblies.

PAI exposure of 95% reflects the share of trailing-twelve-month revenue attributed to Physical AI activities. See methodology §4 for inclusion criteria and §6 for how PAI exposure scales the weight.

Key Physical AI activities

  • Harmonic Reducers (LCS/LSG/LHD Series) · Reducer · 2020Harmonic reducers for humanoid robot joints (wrists, fingers). 12-16 units per humanoid robot. Transmission precision ≤10 arcseconds.
  • Planetary Roller Screws · Screw / Linear Motion · 2024Expanding into planetary roller screws for linear actuators. Small-batch production stage.
  • Mechatronic Integrated Modules · Integrated Actuator · 2024Motor + reducer integrated modules for streamlined robot joint assembly.
  • Micro Harmonic Reducers · Reducer · 2024Miniaturized harmonic reducers for dexterous hands, using novel processing routes.

Key partnerships

  • Tesla
  • UBTECH
  • Xiaomi
  • AgiBot

Milestones

  • 2020IPO on Shanghai STAR Market (688017.SH)
  • 2024Developed micro harmonic reducers for dexterous hands using novel processing routes
  • 2025Completed 500,000 unit capacity expansion; new project targeting 1.5M units by 2026
  • 2026-02Reported 2025 net profit increase of 104-131% driven by humanoid robot demand surge

Competitive position

China's largest harmonic reducer manufacturer (60%+ domestic share), global #2 after Japan's Harmonic Drive Systems. Self-developed 'P-type tooth' technology broke Japanese patent monopoly. Tesla Optimus supplier (wrist and finger joints). Capacity expanding from 500K to 1.5M units by 2026. Capacity: 500K units/year, planning 1M by 2025, 1.59M by 2027. ~7% global harmonic reducer market share (2nd globally). Mexico joint venture with Sanhua for overseas capacity.

Recent activity

No events tracked yet — this company is monitored daily.

Disclaimer

This profile is part of the China Physical AI Index — a public information product published by Tech Buzz China for informational and educational purposes only. It is not investment advice and is not a recommendation regarding Leader Harmonic Drive or any other security. Company data is based on public filings and TBC research; revenue-exposure estimates are point-in-time and subject to update. See the full methodology §11 and disclaimer page.