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].

Group 1: Technology and Innovation - The second "Belt and Road" Technology Exchange Conference was held in Chengdu, Sichuan, focusing on providing technological support for high-quality Belt and Road construction [1] - The Sichuan provincial government aims to seize opportunities in 25 new industrial sectors, including artificial intelligence and low-altitude economy, and plans to establish three innovative industrial clusters [1] - The technology innovation exhibition showcased intelligent robots and low-altitude economy enterprises as the main highlights, indicating a strong push for Sichuan's manufacturing to expand into emerging industries [1] Group 2: Robotics Industry - Sichuan Tianlian Robot Co., Ltd. reported a significant increase in demand for their lightweight collaborative robots, with orders extending to the end of July [2] - The company has achieved a top-three position in the production of harmonic reducers, a key component in robotics, and is seeing monthly sales of 20 to 30 units of their collaborative robots priced around 40,000 yuan [2] - The "Gongga No. 1" humanoid robot is designed for household tasks and can autonomously understand and execute commands, showcasing advancements in AI and robotics [5] Group 3: Underwater Robotics - The "Qianjiao X100," the world's first intelligent omnidirectional underwater robot developed by Chengdu's Qianxing Innovation, can operate at depths of 350 meters and is in high demand, with nearly 200 units ordered [6] - The company expects a fivefold increase in revenue this year, with a significant portion of its business coming from overseas markets, particularly in maritime infrastructure [6] Group 4: Low-altitude Economy - Sichuan Aosi Technology Co., Ltd. has seen strong growth in its drone business, with orders extending to the end of the year and projected revenue growth from 140 million yuan last year to 300 million yuan this year [7][8] - The company is actively expanding its partnerships with Belt and Road countries to enhance its market presence [8] - The Sichuan government is focused on developing a low-altitude economy, emphasizing safety and regulatory measures to ensure orderly growth in this sector [10][11]

人形机器人的产业化之路面临诸多挑战，其中，核心零部件的性能优化与成本控制是制约其发展的关键瓶颈之 一。目前全球市场人形机器人正向轻量化、实用化、高可靠性和低成本化发展与进步，这便离不开精密零件、 新型材料、AI算法以及系统集成这四大核心技术的支撑。 一、 超轻量一体化关节 作为仿人型机器人动力域的核心执行单元， 人形机器人动力系统的 "心脏"， 一体化关节模组承载着精密传 动、动态响应及能量优化的三重使命，对于推动人形机器人产业化进程具有重要影响。在人形机器人的构造 中 ,关节的性能 直接决定了人形机器人的运动精度、速度和灵活性 。 关节 的高集成 设计和 精密 制造涉及 到多个领域的先进技术，其制造工艺复杂，对材料和加工精度要求极高，使得其成本居高不下。 据行业权威 机 构测算， 一体化伺服关节模 组在人形机器人总成本中的占比高达 50%以上，是名副其实的价值核心。 其量产良率与成本控制已成为当前产业化的关键破局点。 机器人关节模组行业发展趋势之一是智能化和集成化。随着传感器技术、控制技术和人工智能技术的不断进 步，关节模组将具备更高的自主感知和决策能力，能够适应更复杂的工作环境和任务需求。 超轻量化则是关 ...