Core Viewpoint - Shengshi Technology Co., Ltd. has approved the establishment of a wholly-owned subsidiary, Shenzhen Shengqiao Robot Co., Ltd., with a registered capital of RMB 30 million, to enhance its humanoid robot development and business layout [2] Group 1 - The new subsidiary will serve as a production and part of the R&D function for the assets acquired from Aldebaran, facilitating collaboration with the French subsidiary [2] - The establishment of Shengqiao Robot Co., Ltd. aims to optimize the supply chain and R&D mechanisms of the French subsidiary, leveraging synergies between domestic and international operations [2] - The company intends to create an independent operational platform for its humanoid robot business, which will support increased investment and development in this sector [2][3] Group 2 - Shengqiao Robot Co., Ltd. will engage in a wide range of activities, including R&D, manufacturing, and sales of intelligent robots, AI hardware, and various electronic products [3] - The investment in the new subsidiary is seen as crucial for expanding new business areas and enhancing overall competitiveness [3] - The company plans to utilize its technological advantages and market resources to drive the development of Shengqiao Robot Co., Ltd., aiming to create new profit growth points and increase shareholder value [3]

Core Viewpoint - The company plans to establish a wholly-owned subsidiary, Shenzhen Shengqiao Robotics Co., Ltd., with a registered capital of RMB 30 million to enhance its humanoid robot business and optimize operations with its French subsidiary [1] Group 1: Company Strategy - The establishment of Shengqiao Robotics is aimed at accelerating the research and development of humanoid robots and improving business layout [1] - The subsidiary will take over production and some R&D functions from the French subsidiary, which was acquired in July 2025, to create synergy between domestic and international operations [1] - Shengqiao Robotics will serve as an independent operational platform for the company's humanoid robot business, allowing for increased investment and development in this area [1]

Core Viewpoint - The company plans to establish a wholly-owned subsidiary, Shenzhen Shengqiao Robotics Co., Ltd., with a registered capital of RMB 30 million to enhance its humanoid robot business and optimize operations with its French subsidiary [1] Group 1: Company Strategy - The new subsidiary will serve as the production and part of the R&D function for the company's French subsidiary, which was established to operate the core assets acquired from Aldebaran, including the Nao and Pepper robots [1] - The establishment of Shengqiao Robotics is aimed at accelerating the company's humanoid robot R&D process and business layout, leveraging synergies between the French subsidiary and domestic operations [1] Group 2: Investment and Operations - The company will use its own funds for the investment, indicating a strong commitment to expanding its humanoid robot business [1] - Shengqiao Robotics will operate independently, providing a platform for sustained investment in humanoid robotics and laying the foundation for future development in this sector [1]

Investment Rating - The report maintains a "Recommended" rating for the humanoid robot industry, indicating that the industry index is expected to outperform the benchmark index by more than 10% [28]. Core Insights - The humanoid robot concept index increased by 1.96% from July 6 to July 11, 2025, outperforming the CSI 300 index by 1.15 percentage points. Year-to-date, the humanoid robot index has risen by 38.26%, surpassing the CSI 300 index by 33.17 percentage points [2][12]. - The report highlights a significant acquisition by Zhiyuan Robotics, which announced plans to acquire a 63.62% stake in Shangwei New Materials for approximately 2 billion yuan. This acquisition is expected to be a landmark case for the humanoid intelligence sector on the Sci-Tech Innovation Board [5][24]. - The report emphasizes the rapid advancements in the humanoid robot sector, driven by increased financing, product innovation, and technological breakthroughs, suggesting that the trend towards humanoid intelligence is irreversible [5]. Weekly Market Review - The humanoid robot index saw the highest weekly gain from Haosen Intelligent (+31.10%) and the largest decline from Zhongjing Electronics (-13.78%) [17][18]. - The report notes that the Shanghai government is focusing on creating a demonstration area for various applications of artificial intelligence, with plans to establish a humanoid robot innovation center [20]. Weekly Hotspots Policy Developments - Shanghai has approved 82 large models for various applications, aiming to enhance AI integration across multiple sectors, including manufacturing and logistics [20]. - The West Lake District in Hangzhou is set to establish a humanoid robot pilot base, projected to generate over 10 billion yuan in industry output by the end of 2027 [21]. Product and Technology Iteration - Magic Atom launched the high-dynamic bipedal humanoid robot MagicBot Z1, which integrates high-performance reliability, an open AI ecosystem, and diverse application scenarios [21]. - Figure's CEO announced plans to triple the production of humanoid robots from July to September 2025 due to successful early progress in their manufacturing facility [21]. Investment and Financing - Several companies in the humanoid robot sector have secured significant funding, including Kuawei Intelligent, which completed several hundred million yuan in Series A financing, and Xinghai Map, which raised over 100 million USD in two rounds of financing [22][23]. - Zhiyuan Robotics' acquisition of Shangwei New Materials is highlighted as a major investment move within the industry [24]. Key Company Announcements - Shengshi Technology plans to participate in a public auction for humanoid robot assets in France, with a maximum investment of 28 million euros [26]. - Wanma Co. announced that its high polymer ultra-high voltage insulation material project will reach an annual production capacity of 60,000 tons upon completion [26].

Market Overview - The Robot Index outperformed the market during the week of July 7 to July 13, with a 1.2% increase, surpassing the Shanghai Composite Index by 0.1 percentage points and the CSI 300 Index by 0.4 percentage points, but lagging behind the ChiNext Index by 1.2 percentage points [1] Company Developments - Zhiyuan Robotics plans to acquire at least 66.99% of the shares of Aowei New Materials for a total consideration of 2.1 billion yuan, changing the controlling shareholder to Zhiyuan Robotics and its management team [1] - Xingdong Jiyuan announced the completion of nearly 500 million yuan in Series A financing, which will be used for the R&D and mass production of humanoid robot technology [1] - Yujian released a six-legged robotic dog featuring high stability, strong load capacity, and quiet operation, marking significant technological innovations [2] - Extreme Intelligence successfully listed on the Hong Kong Stock Exchange, becoming the first publicly traded company in the global AMR warehouse robot market, with the largest IPO scale for a robotics company in Hong Kong to date [3] - Shengshi Technology successfully bid for core assets of Aldebaran SAS for 900,000 euros, aiming to accelerate global expansion in the robotics field [4] - New松 launched the Rico series of humanoid robots, targeting flexible collaboration in industrial applications [5] Related Companies and Technologies - Key hardware components for humanoid robots include: 1. Screw and equipment manufacturers such as Best (300580), Wuzhou Xinchun (603667), and others [6] 2. Reducers from companies like Green Harmonic (688017) and Shuanghuan Transmission (002472) [6] 3. Sensors from firms like Amperelong (301413) and Hanwei Technology (300007) [6] 4. Motors from manufacturers such as Mingzhi Electric (603728) and Weichuang Electric (688698) [6] 5. Actuator assemblies from Top Group (601689) and Sanhua Intelligent Control (002050) [6] 6. Dexterous hands from Zhenghe Industrial (003033) and Jiangsu Leili (300660) [7] 7. Robot bodies from companies like Boshi Co. (002698) and UBTECH (9880) [7]

Core Viewpoint - The acquisition of Aldebaran's core assets by Shengshi Technology for €900,000 (approximately ¥7.5 million) is seen as a strategic move that could reshape the global humanoid robot market, providing Shengshi with a well-known brand and technology heritage [1][2][4]. Summary by Sections Acquisition Details - Shengshi Technology successfully acquired Aldebaran's core assets, including the Nao, Pepper, and Plato robot series, along with technical documents, patents, trademarks, domain names, source code, designs, and inventory [1][2]. - The total investment for Shengshi, including debt repayment and operational costs in France, is expected to be no more than €28 million (approximately ¥234 million) [2]. Background of Aldebaran - Aldebaran, founded in 2005, was a pioneer in the commercialization of humanoid robots, achieving significant sales and recognition globally [2][4]. - The company faced financial difficulties, leading to multiple ownership changes, including acquisition by SoftBank and later by the German URG, ultimately resulting in bankruptcy due to high operational costs and market challenges [4]. Strategic Rationale for Acquisition - Shengshi Technology aims to fill a critical gap in humanoid robotics, leveraging its existing expertise in AI and robotics to enhance its product offerings [5][7]. - The acquisition is viewed as a way to gain access to a mature platform, brand recognition, and technology, facilitating a faster entry into the humanoid robot market [5][7]. Future Prospects - The integration of Aldebaran's technology with Shengshi's AI capabilities is expected to create significant synergies, potentially expanding into various human-robot interaction scenarios [8][10]. - Aldebaran's brand recognition in Europe and globally is anticipated to serve as a key entry point for Shengshi into international markets, complementing its existing presence in regions like the Middle East and Africa [8][12]. Market Context - The Chinese robot market is projected to grow rapidly, with an expected annual growth rate of 23%, potentially doubling in size over the next four years [12]. - China currently holds a significant share of the global robot market, with a leading position in humanoid robot patents and product releases [12][14].

Core Insights - Shengshi Technology (002990) successfully acquired the core assets of Aldebaran on July 10 [1] - Aldebaran, established in 2005 and headquartered in Paris, France, is a well-known company in the humanoid robotics sector, focusing on design, development, production, and commercialization [1] - Key products of Aldebaran include humanoid robots such as Nao and Pepper, which are recognized globally [1]