SIASUN(SZ:300024) Sou Hu Cai Jing·2025-10-28 17:52Core 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]. Group 1: Product Launch and Technology - The newly launched unmanned picking workstation is driven by Geek+'s self-developed embodied intelligence model, Geek+ Brain, which successfully addresses the most challenging and labor-dependent picking process in unmanned warehouse construction, enabling true unmanned picking across multiple categories, scenarios, and industries [1][4]. - The workstation features exceptional adaptability and deployment efficiency, allowing for plug-and-play installation without retraining, capable of intelligent recognition and precise grasping of all SKU categories, and can be rapidly deployed within 48 hours [4]. - Geek+ Brain employs a two-tiered architecture of perception and strategy, utilizing a vast dataset for pre-training and continuous optimization, providing high-performance, reusable grasping and decision-making capabilities for warehouse automation [4][6]. Group 2: Strategic Goals and Market Position - Geek+ aims to focus on the packaging stage of warehouses next, with ongoing research and testing of robotic packing technology, striving to achieve the strategic goal of a fully unmanned warehouse [5]. - The company is positioned as a key player in advancing smart warehousing from "partial automation" to "full-process intelligence," solidifying its leadership in the "AI + warehousing" sector [3][6]. Group 3: Industry Trends and Policy Support - The technological developments by Geek+ and Amazon reflect a strong consensus in the industry towards automation, with both companies utilizing robotic arms and AI algorithms to enhance efficiency and reduce reliance on human labor [7]. - Recent policy signals from the Chinese government, including the inclusion of "embodied intelligence" in the national economic development plan, provide a long-term growth anchor for the industry [7]. Group 4: Market Sentiment and Valuation - The capital market has recognized the trend, with major institutions like Morgan Stanley and Daiwa Securities issuing reports that favor Geek+, indicating that the company's advancements in embodied intelligence are entering a realization phase [8][9]. - Geek+ has seen its stock price rise by 60.68% over the past three months, significantly outperforming the Hong Kong Hang Seng Index, reflecting strong market confidence [8]. - Despite the recent 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].