SIASUN(SZ:300024) 3 6 Ke·2026-01-03 06:04Core Viewpoint - The underwater robotics sector is gaining significant attention and investment, with companies like Deep Blue Ocean Technology poised to become leaders in this emerging market, particularly as they prepare for an IPO aimed at raising 1.5 billion yuan [1][2]. Company Overview - Deep Blue Ocean Technology has transitioned to the "Acceptance of Guidance" stage for its IPO, with the goal of listing on the Sci-Tech Innovation Board after completing eight rounds of guidance [1]. - The company plans to raise 1.5 billion yuan through its IPO, potentially making it the first publicly listed underwater robotics company in China [2]. - Founded by Wei Jiancang, who has a strong technical background, Deep Blue aims to enhance China's capabilities in underwater robotics, which has been largely underdeveloped compared to Western countries [3]. Product and Market Position - Deep Blue has developed a diverse product line, including cable-controlled underwater robots, autonomous underwater vehicles, and underwater gliders, which are utilized in marine scientific research, hydropower, and emergency rescue operations [3]. - The company also operates a consumer brand, Sublue, offering underwater sports products that have gained international traction, being sold in over 70 countries [4]. Financial Performance - Deep Blue has shown strong revenue growth, with projected revenues of 1.41 billion yuan in 2022, 2.35 billion yuan in 2023, and 2.51 billion yuan in 2024, reflecting a compound annual growth rate of 33.23% [6]. - Despite high R&D costs leading to accumulated losses of 622 million yuan by mid-2025, the company has significantly reduced its net losses from 134 million yuan in 2022 to 6.78 million yuan in the first half of 2025 [6]. Industry Trends - The underwater robotics market in China has expanded from 1.24 billion yuan in 2018 to 6.27 billion yuan in 2022, with expectations to exceed 30 billion yuan by 2027 [7]. - The global underwater robotics market is projected to reach 420 billion yuan by 2028, with significant growth in engineering service markets expected to reach 15 trillion yuan [7]. - The industry is categorized into defense, industrial, and consumer segments, with defense and industrial markets having high entry barriers, while the consumer market is more competitive but has a more mature overseas presence [7].