SIASUN(SZ:300024) Ge Long Hui·2025-10-28 10:31Core Insights - The global leader in warehouse fulfillment robotics, Geek+, has launched a fully automated picking workstation and the industry's first complete unmanned picking robot solution at the 2025 CeMAT Asia Logistics Exhibition, marking a significant advancement in warehouse automation towards full unmanned operations [1][3] - The introduction of Geek+'s unmanned picking workstation aligns with Amazon's recent launch of the revolutionary Blue Jay robot workstation, indicating a clear industry trend towards warehouse automation [1][6] Company Developments - The unmanned picking workstation is powered by Geek+'s self-developed embodied intelligence model, Geek+ Brain, which successfully addresses the most challenging and labor-dependent picking process in warehouse automation, enabling true unmanned picking across various categories and industries [1][4] - Geek+ has positioned itself among a select few companies capable of delivering a comprehensive unmanned picking solution, solidifying its leadership in the "AI + Warehousing" sector [3][5] Technological Advancements - The unmanned picking workstation features exceptional adaptability and deployment efficiency, allowing for plug-and-play installation without retraining, and can intelligently recognize and accurately grasp a wide range of SKUs, with rapid deployment achievable within 48 hours [4][5] - The Geek+ Brain model employs a two-tiered architecture for perception and strategy, enabling precise object recognition and real-time generation of optimal picking plans and movement trajectories, thus facilitating a complete intelligent picking process [4][5] Market Trends - The technological strategies of Geek+ and Amazon reflect a strong consensus in the smart warehousing industry, with both companies utilizing robotic arms and AI algorithms to enhance automation and reduce reliance on human labor [6][7] - Recent policy developments, including the inclusion of "embodied intelligence" in China's 14th Five-Year Plan, signal a supportive environment for the growth of the embodied intelligence sector, providing a long-term growth anchor for the industry [6][7] Financial Outlook - The capital market has recognized the potential of Geek+'s advancements, with major institutions like Morgan Stanley and Daiwa Securities issuing "buy" ratings, indicating a consensus that the company's strategic positioning in embodied intelligence is entering a realization phase [8][9] - Geek+'s stock has shown strong performance, with a 59.68% increase over the past three months, significantly outperforming the Hang Seng Index, reflecting market confidence in its "AI + Warehousing" commercialization prospects [8][9] - Despite the recent stock price increase, Geek+ still has substantial upside potential, with a current price-to-sales ratio of 13.04, significantly lower than competitors, suggesting a favorable entry point for long-term investors [9]