Core Viewpoint - Sichuan Tianlian Robot Co., Ltd. has entered the counseling period for its initial public offering (IPO) on the Sci-Tech Innovation Board, with Huazhang Securities as the counseling institution [1] Group 1: Company Overview - Sichuan Tianlian Robot was established in 2012 and listed on the New Third Board in 2015, currently classified as an innovative tier enterprise [1] - The company focuses on the research and production of humanoid robots, collaborative robots, stacking robots, and core robot components, aiming to provide integrated solutions for robotic automation [1] Group 2: Product Development - The company has developed a lightweight and highly humanoid robot product, T1pro, featuring 71 degrees of freedom, and has made breakthroughs in several key technologies [2] - Key technologies include high integration and high power density joint components, cross-modal perception and natural interaction technology, embodied intelligent sensing and control technology, and overall motion control technology [2] Group 3: Strategic Partnerships - Sichuan Tianlian Robot has established strategic cooperation agreements with multiple A-share listed companies to enhance market share and product applications [2] - Notable partnerships include an agreement with Lihua Xing to advance robotic automation in manufacturing and another with Guansheng Co. to develop high-quality, low-cost robot bearing products [2] Group 4: Fundraising and Financial Plans - The company has initiated a targeted stock issuance plan to raise a total of 80 million yuan, with significant investments from private funds and individual investors [3] - The raised funds will primarily be used for R&D investments in humanoid robots, collaborative robots, and unmanned vending robots, as well as for daily operational liquidity needs [3]

Core Viewpoint - Sichuan Tianlian Robot Co., Ltd. (referred to as "Tianlian Robot") has signed a counseling agreement with Huazhang Securities for its initial public offering (IPO) on the Shanghai Stock Exchange's Sci-Tech Innovation Board, leading to a significant increase in its stock price by over 17% on July 31 [1][3]. Company Overview - Tianlian Robot, established in 2012, is a national high-tech enterprise based in Mianyang, Sichuan, focusing on the research and development of robots and related components, including harmonic reducers and collaborative robots [4]. - The company has developed a humanoid robot, T1pro, which stands 160 cm tall and weighs 43 kg, featuring 71 degrees of freedom, and is currently undergoing testing in various application scenarios [4]. Financial Performance - The company has not yet achieved significant production scale, with its humanoid robot products not having been shipped as of June 2025. In June, only one humanoid robot was produced and one collaborative robot was shipped [5]. - The production and shipment of harmonic reducers, a key product, have declined, with a 50.89% year-on-year decrease in production and a 35.34% decrease in shipment in June [5]. - Tianlian Robot reported revenues of 21.39 million yuan and 29.91 million yuan for 2023 and 2024, respectively, with a compound annual growth rate of 12.03% over the last three years. However, the company has not been profitable, with negative cash flow and a gross margin below 30% [8]. Strategic Partnerships - The company has signed strategic cooperation agreements with Shenzhen Lihua Xing Co., Ltd. and Guansheng Co., Ltd. to enhance automation manufacturing and develop high-quality, low-cost robot bearing products [6][7]. - These partnerships aim to leverage mutual strengths and share market resources to promote the application of robots in manufacturing [6]. IPO Progress - Tianlian Robot submitted its IPO counseling materials to the Sichuan Regulatory Bureau of the China Securities Regulatory Commission on July 28, 2023, and these materials were accepted on July 30, marking the beginning of its counseling period [3]. - Despite the progress, the company currently does not meet the financial and market capitalization requirements for listing on the Sci-Tech Innovation Board, which poses a risk of not being able to go public [9].