Core Viewpoint - Beijing Lier (002392.SZ) has signed a strategic cooperation agreement with SenseTime and Hangzhou Xiwang Chip Technology Co., Ltd. to explore AI computing power collaboration and the development of industrial manufacturing and decision-making AI vertical models [1][2] Group 1 - The agreement aims to jointly research and explore strategic cooperation in AI computing power, industrial manufacturing, and decision-making AI vertical model development [1] - The three parties will promote the sales and application of Xiwang's AI chips across various fields, focusing on the already mass-produced S1, S2, and the upcoming S3 inference chips [1] - The collaboration will leverage Beijing Lier's strong customer relationships to advance the use of AI chips in steel companies' AI data center businesses [1]

Core Insights - The 2025 World Robot Conference showcased over 1,500 exhibits from more than 200 leading companies, with the number of new product launches doubling to over 100 compared to the previous year, indicating significant advancements in robotics technology [1][16] - The event highlighted the integration of robotics into daily life, with demonstrations of exoskeletons, humanoid robots, and service robots that perform complex tasks, showcasing the potential for human-robot collaboration [16] Group 1: Exoskeleton Technology - The exoskeleton robot VIATRIX by Aoshark demonstrated seamless integration with human movement, featuring a unique FLOAT 360 hip joint structure and leg motor design that enhances mobility and reduces physical strain [3][4] - Aoshark's innovations include a self-developed automotive-grade response motor for precise power output and AI gait algorithms that improve leg strength while minimizing energy consumption [4] Group 2: Humanoid Robots - The humanoid robot S1 by Stardust Intelligence showcased advanced capabilities in adapting to unknown objects and environments, demonstrating human-like learning and task completion abilities [6] - The G1 combat humanoid robot from Yushu Technology performed dynamic combat demonstrations, highlighting advancements in balance algorithms and movement coordination [12][14] Group 3: Emotional Interaction and Service Robots - The R1 Lite robot from Starry Sea Map effectively organized a messy bed using natural language commands, showcasing its advanced planning and execution capabilities [7] - The GR-3 humanoid robot by Fourier emphasized emotional interaction through its soft-touch design and multi-sensory feedback system, enhancing user engagement and emotional connection [10][8] Group 4: Industry Trends and Collaborations - JD.com announced a commitment to invest over 10 billion in the smart robotics sector, aiming to support 100 brands in achieving over 1 billion in sales within three years, indicating a strong push towards commercializing robotics [14][16] - The conference illustrated a clear trajectory for robotics technology from laboratory settings to everyday applications, emphasizing the growing importance of emotional intelligence and user-friendly designs in robotics [16]

Core Insights - Xu Bing, co-founder of SenseTime, has established a new GPU chip company named Xiwang, marking a strategic shift for SenseTime as it focuses on AI chip development [2][3] - Xiwang aims to serve as the computational foundation within the SenseTime ecosystem, emphasizing the importance of self-sufficient computing power in the era of AGI [2][12] - The company has secured nearly 1 billion yuan in its first round of financing, with notable investors including SANY Group and other established firms [2][11] Company Strategy - The establishment of Xiwang is part of SenseTime's "1+X" strategy, which involves restructuring to create independent entities focused on various emerging business areas [9][10] - SenseTime's AI chip development has a long history, with efforts dating back to 2018 aimed at reducing reliance on foreign chip manufacturers [6][12] - The new structure allows for more agile decision-making and financing opportunities for the independent entities within the ecosystem [9][10] Leadership and Team - Xu Bing has transitioned from his role at SenseTime to lead Xiwang as its chairman, focusing on strategic development and company culture [3][8] - The core team from SenseTime's chip division has been integrated into Xiwang, ensuring continuity and expertise in chip development [8][12] Market Context - The Chinese GPU market is characterized by high costs and challenges in profitability, yet interest in AI chip development remains strong [2][12] - The domestic AI chip market is expected to grow significantly, with projections indicating a 30% penetration rate for local brands by 2024 [20] Technological Development - Xiwang has achieved 100% independent intellectual property rights in its GPGPU technology, which includes the entire stack from instruction set definition to compiler toolchain [20] - SenseTime has developed several AI chips, including the S1 and S2, with the S3 chip expected to significantly reduce inference costs [16][20]

Core Insights - Sunrise, a domestic AI chipmaker spun off from SenseTime, has raised nearly $139 million in a Pre-A funding round as China focuses on localizing high-performance GPU supply chains [2][3] Company Overview - Sunrise was established at the end of 2024 and has quickly become a full-stack developer of high-performance GPUs and multimodal inference chips [4] - The company is led by Chairman Xu Bing, co-founders Wang Zhan and Wang Yong, who have extensive backgrounds in tech companies like Baidu and AMD [4][5] Funding and Investment - The recent funding round was supported by a consortium of investors including Huaxu Fund, 4Paradigm, and others, aimed at accelerating R&D and expanding market operations [3] - Sunrise's funding success indicates a growing investor interest in domestic GPU companies amid geopolitical and supply chain challenges [12] Product Development - Sunrise's product roadmap includes the S1 vision inference chip for cloud-edge video analysis, with over 20,000 units shipped, and the S2 general-purpose GPU, which has entered mass production [6][7] - The upcoming S3 chip, expected in 2026, aims to reduce inference costs by up to 90% [7] Financial Performance - Despite the funding, Sunrise has not yet reached profitability, reporting revenue of $33,520 in 2024 and a net loss of $26.47 million [11] - As of March, total assets were reported at $13.13 million, with net assets of $11.72 million [11] Strategic Positioning - Sunrise is positioned as the flagship of SenseTime's chip ambitions following a reorganization under a "1+X" strategy, which focuses on generative AI while spinning off other units [9] - The company's broader strategy includes hardware accelerators, large model servers, and compute clusters, targeting sectors like intelligent computing, financial services, and smart manufacturing [8]