SIASUN(SZ:300024) Zhong Guo Zheng Quan Bao·2025-10-20 20:15Core Insights - The production of industrial robots and service robots in China has seen significant year-on-year growth of 29.8% and 16.3% respectively in the first three quarters, indicating a strong push towards high-end, intelligent, and green transformation in manufacturing [1][2] - The rapid growth in industrial robot production reflects the ongoing demand for intelligent transformation in China's manufacturing sector, with at least 22 companies establishing subsidiaries related to industrial robots since 2024 [2][3] - The competitive landscape within the industrial robot market shows disparities across different segments, with a need for breakthroughs in heavy-duty industrial robots to advance the industry towards mid-to-high-end products [6] Industry Performance - High-tech manufacturing in China has experienced a 9.6% increase in value-added output year-on-year, with notable growth in the production of industrial robots (29.8%), service robots (16.3%), and 3D printing equipment (40.5%) [2] - The export of industrial robots has surged by 54.9% year-on-year, reflecting an improved product structure and a broader range of application scenarios in international markets [4] Company Developments - Efort reported a nearly 20% increase in industrial robot shipments in the first half of 2025, with significant growth in the electronics manufacturing sector (over 50%) and automotive applications (over 40%) [3] - New Times Data announced a 25.7% increase in industrial robot shipments in Q1 and a 52.4% increase in Q2 of 2025, with successful product launches in various industrial fields [3] - Estun has established 75 service outlets globally, achieving overseas revenue of 749 million yuan, and is actively expanding into international markets [5] - Zhenyu Technology expects a net profit of 400-420 million yuan for the first three quarters, marking a year-on-year increase of 132%-143.6% [5] - Orbbec anticipates a revenue of 714 million yuan for the first three quarters, reflecting a year-on-year growth of 103.5% due to advancements in the 3D vision perception industry [5] Market Trends - The collaborative robot segment is projected to grow significantly, with advancements allowing for more complex industrial applications beyond simple handling tasks [6] - Domestic lightweight robots have achieved a global presence, but there remains a competitive disadvantage in the heavy-duty robot market, necessitating breakthroughs to enhance the industry's mid-to-high-end capabilities [6]