SIASUN(SZ:300024) Feng Huang Wang Cai Jing·2025-12-09 14:26Core Viewpoint - The incident involving the T800 humanoid robot kicking its CEO, Zhao Tongyang, has sparked widespread discussion about the safety and marketing strategies of humanoid robots, highlighting the balance between innovation and consumer safety concerns [2][6]. Group 1: Product and Performance - The T800 humanoid robot is equipped with a high-performance solid-state battery, providing 4-5 hours of stable operation and capable of executing complex movements, achieving approximately 90% of an adult male's physical capabilities [3]. - The T800 is priced starting at 180,000 yuan, and it is the fourth humanoid robot launched by the company, which also offers various versions including basic, ecological, sharpened, and flagship models [4]. Group 2: Market and Competition - The company is in direct competition with other leading humanoid robot manufacturers, particularly Yushun Technology, as both companies aim to commercialize humanoid robots [3]. - The global humanoid robot market is projected to reach $154 billion by 2035, indicating significant growth potential despite current challenges in finding a clear profit model [13]. Group 3: Funding and Financial Backing - The company has successfully raised significant funding, including nearly 1 billion yuan in angel financing and a total of 1 billion yuan in Pre-A++ and A1 rounds, with major investors like JD.com and CATL participating [10]. - The company has also faced scrutiny regarding its production capabilities, particularly after reports of delays in its "robot police" product, raising questions about its operational sustainability [11]. Group 4: Industry Context and Challenges - The humanoid robot industry is becoming increasingly crowded, with major tech companies like Tesla, Xiaomi, and Google investing heavily in this space, indicating a competitive landscape [12]. - Despite the hype and investment, the industry has yet to establish a stable cash flow, with current profitable applications limited to specific industrial environments and research demonstrations [13].