SIASUN(SZ:300024) Xin Lang Cai Jing·2025-11-28 01:05Core Viewpoint - Shanghai XianGong Intelligent Technology Co., Ltd. (XianGong Intelligent) has submitted its application for listing on the Hong Kong Stock Exchange for the second time this year, with CICC as its sole sponsor. The company has over 2,000 robot models deployed across more than 20 industries, including 3C, automotive, automation equipment, new energy, semiconductors, engineering machinery, and biomedicine [1]. Company Overview - XianGong Intelligent is a smart robotics company focused on robot control systems, providing a one-stop solution for the development, acquisition, and use of robots. The company ranks first in robot controller sales for 2023-2024 according to ZhiShi Consulting [4]. - The company offers a comprehensive range of products, including controllers, software, robots, and accessories, aimed at lowering the barriers to entry for developing and using intelligent robots [4][6]. Customer Base - XianGong Intelligent has a diverse customer base with over 1,600 integrators and end customers across more than 35 countries and regions. This allows the company to adapt its products to meet changing industry demands [5]. Product Offering - The Nebula system provides over 1,000 robot models equipped with SRC series controllers, including various types such as wheeled humanoid robots, quadruped robotic dogs, and intelligent forklifts [5][6]. Financial Performance - The company has shown stable and strong growth, with revenues of RMB 184.32 million in 2022, RMB 249.02 million in 2023, RMB 339.32 million in 2024, and RMB 157.85 million for the six months ending June 30, 2025 [8]. - Gross profits for the same periods were RMB 86.29 million, RMB 122.43 million, RMB 155.69 million, and RMB 71.69 million, with gross margins consistently above 45% [9]. - The company reported losses of RMB 32.26 million, RMB 47.70 million, RMB 42.31 million, and RMB 50.59 million for the respective periods [10]. Industry Overview - The global robotics market is experiencing significant growth, with a projected increase from RMB 213.4 billion in 2020 to RMB 418.8 billion by 2024, reflecting a compound annual growth rate (CAGR) of 18.4% [14]. - The intelligent robotics market is expected to grow from RMB 118.8 billion in 2020 to RMB 277.8 billion by 2024, with a CAGR of 23.7% [15]. - China is a key player in the global intelligent robotics industry, with the market expected to reach RMB 984 billion by 2024, accounting for over 30% of the global market share [19].