SIASUN(SZ:300024) Quan Jing Wang·2025-08-13 05:51Core Viewpoint - The collaboration between Giant Star Legend and Yushu Technology aims to develop and commercialize consumer-grade robots with strong IP attributes, focusing on four-legged robotic dogs that have companionship and social interaction features [1][2]. Group 1: Collaboration Details - The partnership will leverage both companies' strengths, with Giant Star Legend focusing on IP planning and AI interaction design, while Yushu Technology will handle hardware development [2][3]. - The collaboration is not merely about IP licensing but aims to create robots that embody emotional resonance through storytelling and character design, enhancing user connection [2][3]. - The robots will be utilized in various scenarios, including concerts and performances, to extend the influence of IP and unlock commercial potential [3][6]. Group 2: Financial Planning and Investment - Giant Star Legend plans to allocate approximately 38.2% (around 124 million HKD) of the funds raised from a recent share placement to expand its retail network, including vending machines and smart mechanical devices [3][4]. - The total amount raised from the share placement is approximately 342.6 million HKD, with a net amount of about 324 million HKD after deducting issuance costs [4]. Group 3: Market Insights - The consumer-grade robot market has significant potential, but the willingness of domestic users to pay for "IP + robots" has yet to be fully validated [5]. - Experts suggest that the development of humanoid robots should initially focus on high-visibility public entertainment scenarios, following a path from entertainment to industrial applications and finally to household use [5].