Goldman Sachs selects Chinese stocks likely to gain from a new surge in AI-related hardware exports

August 16, 2026

Goldman Sachs Analysts See New Opportunities in Chinese AI Exports

Goldman Sachs analysts have indicated that China is now entering a new phase in the export of artificial intelligence-related hardware, establishing itself as a significant player in the global market. Their analysis suggests that there’s a market opportunity ranging from $12 billion to $212 billion by 2030.

In light of increasing uncertainty around U.S. restrictions on high-tech imports from China, many exporters are shifting their focus to Europe and Southeast Asia. While various companies fit neatly into established categories, Goldman has highlighted industrial automation and robotics as key areas where the execution of corporate strategy can outweigh broader economic trends.

According to the analysts, companies in these sectors could emerge as long-term beneficiaries, thanks to their robust product and technological competitiveness, agile R&D processes, and cost advantages. Their top picks include Estun, an industrial robot manufacturer listed in Hong Kong, and Inovance, an automation firm based in Shenzhen.

One of the analysts noted that Europe represents a critical overseas market for Inovance. They project that the company’s total addressable market outside China could more than triple to over $500 billion by 2030, up from the current $163 billion. Goldman has categorized Innovance as a “buy,” with a price target of 92.90 yuan ($13.78), suggesting a potential rise of over 50% from its recent closing price.

Estun is reportedly reaping benefits from its expansion efforts in Southeast Asia alongside its clients in China. Analysts on Wall Street anticipate that the company’s market share in this region could grow to about 10% by 2030, significantly increasing from just 3% this year, even as estimates suggest the total available market outside China is around $20 billion.

Despite being in the early phases of international growth, Estun is seen as a competitive player in Southeast Asia, although it still trails behind its global competitors in service reach and ecosystem capabilities. Analysts currently hold a “neutral” stance on Estun, setting a price target of HK$11.80 ($1.50).

It’s also worth mentioning that China is set to host the World Robotics Conference in Beijing from August 19th to 23rd, which could further spotlight these developments.