SIASUN(SZ:300024) Zhong Guo Jing Ying Bao·2025-04-01 02:44Core Viewpoint - Dalu Robotics, a well-known unicorn in the humanoid robot sector, is facing a crisis, with reports of closed offices and unpaid bills, indicating potential financial distress [1][4][5]. Company Situation - Dalu Robotics' office in Guangzhou is reportedly closed, with unpaid utility bills and potential asset liquidation [1]. - The company has been in discussions to sell its properties, indicating a need for cash flow [1]. - Employees have reported salary delays and layoffs, with some receiving only partial payments [4]. Recent Developments - The CEO, Huang Xiaoqing, stated that despite external challenges, the company remains committed to innovation and has launched new products, including the Ginger 2.0 humanoid robot [2][8]. - Dalu Robotics has completed five rounds of financing, raising over 5.4 billion yuan, with significant investments from major firms [3]. Market Position - Dalu Robotics is recognized as a leader in the humanoid robot sector, with a valuation of approximately 30.77 billion USD, making it the top unicorn in this category in China [3]. - The company has faced challenges in its IPO attempts, with previous plans to list in the US and Hong Kong being stalled due to various issues [4]. Industry Context - The humanoid robot market is experiencing scrutiny, with concerns about high costs and unclear commercialization paths [7]. - Industry experts have expressed skepticism about the sustainability of the humanoid robot business model, citing limited customer bases and high technology costs [7].