SIASUN(SZ:300024) Jin Rong Jie·2025-12-10 09:43Group 1 - The core competition between Yushun Technology and Zhiyuan Robotics is intensifying as they vie for sponsorship rights for the 2026 Spring Festival Gala, with Yushun's bid escalating to 100 million yuan [1][2] - The Spring Festival Gala is considered a prime advertising resource, and the current bid of 100 million yuan has deterred many other companies in the embodied intelligence sector [2][4] - Yushun Technology's humanoid robot H1 gained significant attention during the 2025 Spring Festival Gala, leading to a surge in interest in robot marketing strategies across various events [1][4] Group 2 - Yushun Technology has transitioned to a joint-stock company, indicating a completed shareholding reform, and is preparing for an A-share IPO with guidance from CITIC Securities [5][6] - Zhiyuan Robotics is pursuing a more indirect route to the stock market, attempting to acquire a controlling stake in a listed company through a combination of agreement transfer and tender offer [8][9] - The acquisition of shares in Shangwei New Materials by Zhiyuan Robotics has resulted in a significant ownership stake, positioning it as a major player in the robotics sector [10][11] Group 3 - The competition between Yushun Technology and Zhiyuan Robotics extends to the capital market, with both companies adopting different strategies to enhance their market presence [5][8] - Yushun Technology's founder, Wang Xingxing, holds a substantial share of the company, controlling approximately 34.76% of the equity [6][10] - The recent announcements and activities from Shangwei New Materials suggest a strategic pivot towards robotics, although the company has clarified that its robotics business is still in the development phase [11][12]