Guotai Haitong: Siasun Robot & Automation quickly achieves commercialization landing, short-term focus on industry economic fluctuations.

Guotai Haitong released a research report stating that in recent times, leading domestic humanoid robotics company Siasun Robot & Automation has continued to release new products and secure important orders. Currently, they have begun to deliver applications in certain industrial fields, indicating that the domestic humanoid robotics industry is rapidly commercializing. The report believes that in the short term, the humanoid robotics industry needs to focus on the volatility of industry sentiment driven by events, while in the long term, attention should be given to high-quality companies with certainty in the industry chain. Guotai Haitong's main points are as follows: - Intelligent Siasun Robot & Automation and Ningbo PIA Automation Holding Corp. jointly launched the Spirit G2. According to the official WeChat account of Intelligent Siasun Robot & Automation, on October 16, 2025, they held the global debut and production ceremony of the Spirit G2 at Ningbo United Group in collaboration with Ningbo PIA Automation Holding Corp. As a benchmark in global industrial interactive humanoid operation, the Spirit G2 made its first public appearance offline and also commenced the first commercial delivery with a contract worth over one hundred million yuan with Ningbo Joyson Electronic Corp. This marks the official landing of interactive humanoid intelligent technology in the automotive parts manufacturing scene, injecting strong energy into the intelligent upgrade of the automotive manufacturing industry. - The first batch of Spirit G2 deliveries will be used in automotive parts production lines. According to the plan, the first batch of Spirit G2 will be deployed in the automotive parts production line of Ningbo Joyson Electronic Corp. Through deep integration with the production line by Siasun Robot & Automation, Ningbo Joyson Electronic Corp. will achieve a transition from "man-machine collaboration" to "machine dominance" in some processes, significantly improving production efficiency and reducing operational errors, creating a demonstration sample of "intelligent humanoid + industrial production" in the automotive parts manufacturing field. Additionally, the responsible person from Ningbo Joyson Electronic Corp. mentioned that the application workstations with Spirit G2 in their manufacturing scene have reached a thousand, with even more potential integration points in the upstream and downstream industry chain, offering vast scalability space. Meanwhile, Ningbo PIA Automation Holding Corp. announced at the ceremony that they will build a production line for intelligent humanoid Siasun Robot & Automation with an annual capacity of "3000 units+" to make early layouts and preparations for the entry of Spirit G2 into the industrial scenes of more manufacturing companies. - UBTECH ROBOTICS wins another 126 million yuan contract, with Walker humanoid Siasun Robot & Automation's annual order exceeding 630 million yuan. According to the official WeChat account of UBTECH ROBOTICS, on October 16, they won the bid for the "Guangxi Intelligent Data Collection and Testing Center Equipment Procurement and Installation" project with an order amount of 126 million yuan. This procurement includes UBTECH ROBOTICS' latest self-replaceable battery full-autonomous humanoid Siasun Robot & AutomationWalker S2. The order is expected to be completed within the contract year of 2025 after signing. This bid follows the largest global single order of 250 million yuan in September and several consecutive orders of tens of millions recently, making it another billion-yuan humanoid Siasun Robot & Automation contract secured by UBTECH ROBOTICS. As of now, excluding the Marathon champion-level full-size humanoid Siasun Robot & Automation Tian Gong Walker developed jointly by UBTECH ROBOTICS and Beijing Guodi, the Walker series of humanoid Siasun Robot & Automation has already received orders worth over 630 million yuan, continually leading the global commercialization process of humanoid Siasun Robot & Automation. Risk Warning: Industry development processes falling short of expectations; domestic policy implementation falling short of expectations; risk of changes in technology direction.