Summary of Tianzhun Technology Conference Call Company Overview - **Company**: Tianzhun Technology - **Industry**: Robotics and Autonomous Logistics Vehicles Key Points and Arguments Business Developments - Tianzhun Technology received mass production orders exceeding 10 million yuan for humanoid robot brain controllers from leading clients, with multiple clients currently testing and evaluating the product, indicating strong demand [2][3] - The company is shifting focus from passenger vehicle autonomous driving domain controllers to the less competitive commercial vehicle market, anticipating accelerated growth in the autonomous logistics vehicle sector by 2025 [2][8] - In the autonomous logistics vehicle market, Tianzhun holds over 50% market share, with major competitors including Pony.ai [6][17] Financial Performance - Expected revenue from the robotics business in 2025 is projected to exceed 50 million yuan, while revenue from the autonomous logistics business remains uncertain due to ongoing large client order follow-ups [25] - Last year, revenue from intelligent-related businesses was primarily sourced from NVIDIA and Horizon platforms, amounting to 70 million yuan and 30 million yuan respectively [26] Product and Technology - The company’s autonomous vehicle pricing is set at 19,800 yuan, with an additional monthly service fee of 1,800 yuan; the controller cost constitutes about 10%-20% of the total vehicle cost [13][31] - Tianzhun is actively developing high-performance AI chips and plans to introduce a general-purpose platform in the future, enhancing its product offerings [9][12] Market Trends and Competition - The autonomous logistics vehicle market is experiencing rapid growth, with significant orders from major clients like Cainiao Logistics, JD.com, and Meituan [5][8] - The company is facing limited competition in the autonomous logistics vehicle sector, with a few players like Desay and Pony.ai entering the market [6][15] Strategic Focus - Tianzhun is concentrating on controller development and adapting to industry changes, leveraging its accumulated expertise in machine vision technology to provide customized solutions for industrial and humanoid robotics [10][12] - The company is also enhancing its software and algorithm capabilities, which are seen as competitive advantages in the market [19] Future Outlook - The company anticipates that the robotics and autonomous logistics vehicle projects will begin to scale rapidly in the third or fourth quarter of 2025, with significant order values expected [30] - The gross margin for autonomous logistics vehicles is expected to be higher than that of passenger vehicle domain controllers due to the smaller scale of individual client orders [23] Challenges and Risks - The company faces challenges related to the fragmented nature of the autonomous vehicle market, particularly in commercial vehicles where diverse applications require tailored solutions [16][18] - New business investments are not expected to significantly pressure short-term profits, as R&D expenditures are controlled and aligned with specific project needs [27] Additional Insights - The postal service is actively advancing in the low-speed delivery market, focusing on point-to-point delivery in county-level areas, contrasting with traditional express delivery services [24] - The company’s experience and knowledge base in low-speed autonomous vehicles are expected to strengthen its market position, with a current market share exceeding 50% [17] This summary encapsulates the critical insights from the conference call, highlighting Tianzhun Technology's strategic direction, market positioning, and financial outlook in the robotics and autonomous logistics vehicle industry.

Core Insights - The first humanoid robot fighting competition was held in Hangzhou, highlighting the increasing visibility of humanoid robots in the global tech arena [1] - The humanoid robot industry in China is rapidly developing, with 109 listed companies in the sector and a total market capitalization of 4.69 trillion yuan as of May 28 [1] - The industry is expected to penetrate various fields such as industrial manufacturing, healthcare, home services, and education, indicating significant long-term growth potential [1] Policy Support - The Chinese government is actively promoting the humanoid robot industry, with the Ministry of Industry and Information Technology issuing guidelines aiming for a preliminary innovation system by 2025 and a robust supply chain by 2027 [2] - Local governments in cities like Beijing, Shanghai, and Shenzhen are launching supportive policies and establishing industry funds to foster development in humanoid robotics [2][3] - Over ten local governments have set up industry funds ranging from 200 million to 10 billion yuan, focusing on core components and innovative applications in the robotics sector [3] Company Developments - Companies like Yushu Technology and Zhongqing Technology are emerging in the humanoid robot space, with some achieving mass production [4] - Major firms such as Tencent and Huawei are investing in technology R&D and application scenarios to accelerate the deployment of humanoid robots across various sectors [4] - Among the 109 listed humanoid robot companies, the majority are in the machinery sector, followed by automotive and power equipment industries [5] Industry Challenges - The humanoid robot sector is still in the technology validation and commercialization phase, with current products not yet achieving true economic viability [6][7] - Challenges include the need for advanced motion control, perception capabilities, and decision-making technologies, as well as high R&D and production costs [6] - Safety in human-robot interaction and the need for efficient energy management systems are critical areas requiring further development [6] Future Outlook - The humanoid robot market is projected to reach a scale of 500 billion to 1 trillion yuan by 2045, with significant advancements expected in technology and application [7] - Short-term applications are anticipated in industrial manufacturing and service sectors, with long-term penetration into household scenarios [7] - The integration of humanoid robots into the economy is expected to become a core growth engine by 2035, reshaping global industrial dynamics [7]

Group 1 - The core point of the article is that Tianzhun Technology has launched a humanoid robot brain controller, which has received significant recognition from leading humanoid robot companies and accumulated orders exceeding 10 million yuan [1] - The product is set to be officially launched in November 2024, indicating a strategic timeline for market entry [1] - The company has achieved a notable first-mover advantage in the industry, positioning itself favorably against competitors [1] Group 2 - The accumulated order amount of over 10 million yuan reflects strong market demand and confidence in the product [1] - The recognition from multiple humanoid robot companies suggests a growing interest and potential partnerships within the industry [1] - The announcement highlights the company's proactive approach in the rapidly evolving robotics sector [1]