According to Zhitong Finance APP, Direct Drive Technology (06731) surged more than 9% in late trading, reaching a high of HK$30.9 to set a new record, and has now climbed more than 40% from its IPO price of HK$21.6. As of press time, the stock was up 9.05% at HK$30.86, with turnover of HK$22.7002 million.

On the news front, in late September this year, Direct Drive Technology announced that it had signed a strategic cooperation agreement with China Rare Earth Innovation, a wholly owned subsidiary directly managed by China Rare Earth Group. The two sides will carry out comprehensive and in-depth cooperation in technology development, industrial collaboration, capital linkage, and talent co-building, jointly tackling research and development of high-performance magnetic materials such as neodymium iron boron, magnetic focusing rings, and radial magnetic rings, and helping to open up the domestic chain from rare earth new materials to robot power components.

It is reported that through cooperation with China Rare Earth Innovation, Direct Drive Technology is expected to further strengthen upstream magnetic material research and development and supply chain coordination, and extend material-side advantages to motors and robot power systems. If subsequent joint research and development results are industrialized, this is expected to further enhance the company's independent and controllable capabilities in core components of direct-drive motors, and provide support for its expansion into emerging application scenarios such as embodied intelligence and industrial robots.