SIASUN(SZ:300024) 3 6 Ke·2025-12-16 03:40Core Insights - The smart cooking robot industry is transitioning from a conceptual phase to large-scale application, with brands like Laoxiangji and JD Qixian adopting cooking robots, indicating a significant industry shift [1][3] - Investment confidence is rising, as evidenced by Zhigu Tianchu's recent A-round financing of several million yuan, with total funding exceeding 100 million yuan since its inception [1][6] Market Overview - The market size of China's smart cooking machine industry is projected to reach 12.61 billion yuan in 2024, with a year-on-year growth of 14.80%, and commercial use accounting for 57.23% of the market [4] - The industry is characterized by low digitalization, presenting a significant opportunity for smart cooking innovations [3] Competitive Landscape - Product stability, scene adaptability, operational efficiency, and overall service capability are becoming critical competitive differentiators in the industry [3] - Zhigu Tianchu has established a customer-centric operational system, dividing its business into domestic social catering, group meals, and overseas markets [4] Strategic Partnerships - Zhigu Tianchu has formed deep collaborations with major companies like Muyuan, GoerTek, and Foxconn, securing a record single order worth 150 million yuan [6] - The collaboration with GoerTek is seen as an exploration of a complete smart kitchen solution rather than just a procurement order [7] Operational Efficiency - Zhigu Tianchu operates with a lean sales team of only eight members, focusing on new media operations and customer referrals to drive sales [7] - The company anticipates its order amount will exceed 300 million yuan by 2026, benefiting from repeat purchases from major clients [7] Technological Innovation - The company emphasizes a dual-driven model of "technology research and development + scene implementation," which enhances product-market fit [10] - Zhigu Tianchu's proprietary AI dynamic cooking algorithm and full premixed combustion technology create an integrated solution combining hardware, software, and data [10][12] Global Expansion - The overseas market for smart cooking robots is growing due to high labor costs and a shortage of chefs, with Zhigu Tianchu's daily client visits increasing three to four times since October [13] - The company has developed a modular product and local hardware support system to address challenges in overseas service [15] Future Outlook - Zhigu Tianchu aims to evolve from a cooking robot supplier to a comprehensive smart kitchen solution provider, leveraging China's manufacturing capabilities [17] - The company is positioned to redefine the global smart kitchen paradigm through its integrated solutions and supply chain capabilities [17]