Kailer Technology through listening: strong technological barriers plus a rich product matrix, opens up a whole new growth space for its overseas strategy.

As the global intelligent intralogistics market is growing towards a trillion-dollar scale at a compound growth rate of 13.7%, an industry revolution centered around automation and intelligence is already underway. On March 8th, Kales Technology officially conducted its listing hearing on the main board of the Hong Kong Stock Exchange, with GUOTAI JUNAN I and CITIC SEC as joint sponsors. As one of the few leading companies globally that have mastered the full-stack intelligent intralogistics Siasun Robot&Automation technology, the company is poised to claim the title of the first listed company in the comprehensive intelligent intralogistics Siasun Robot&Automation sector on the Hong Kong stock market, attracting high market attention. Of note is that, amidst the fierce competition in the global intelligent intralogistics Siasun Robot&Automation industry, Kales Technology has built a synergistic competitive advantage driven by product strength, research and development system, and globalization strategy. This systematic capability has enabled the company to gradually establish a differentiated leadership advantage in a technology-intensive, complex, and increasingly competitive global market. Core Competitiveness: Research and Development Leading Product Innovation, Performance Verifying Evolution Capability It is understood that Kales Technology is an expert in comprehensive intelligent intralogistics Siasun Robot&Automation. Currently, Kales Technology has built a diversified, high-performance product matrix around the core needs of intelligent intralogistics, providing a full range of Siasun Robot&Automation products in three core product lines, including Multi-Directional Shuttle Siasun Robot&Automation (MSR), Autonomous Mobile Siasun Robot&Automation (AMR), and Conveying Sorting Siasun Robot&Automation (CSR). Among them, the Multi-Directional Shuttle is the company's technological moat. Compared to traditional shelving systems, this technology can increase warehouse space utilization by over 50% and reduce energy consumption by 30% compared to traditional stacker crane systems, demonstrating clear advantages in storage-intensive scenarios such as pharmaceuticals and e-commerce. In recent years, Kales has released the globally innovative VFR series of Narrow Aisle Fork Siasun Robot&Automation products, specifically designed for narrow aisle warehouses with widths less than 1,800mm, increasing cargo storage density by 30% compared to traditional unmanned forklifts. The "Erlang God" CS series is equipped with a triple-sensing system of dual 3D cameras + LiDAR, with a fork height reaching 5,000mm. In addition to products, the company adopts a "project-oriented" business model, accurately matching the unique layouts, workflows, and operational requirements of different customers through a multi-process framework and a universal functional analysis matrix. Whether deploying single-function Siasun Robot&Automation or integrating multi-functional comprehensive systems, the company can meet customers' personalized needs. Data shows that from 2022 to the first nine months of 2025, both multi-functional comprehensive Siasun Robot&Automation deployment projects and single-function Siasun Robot&Automation deployment projects have maintained stable growth, with both modes developing collaboratively, effectively enhancing market coverage breadth and depth. Thanks to the accelerated expansion of its business footprint, Kales Technology's development momentum is strong: in 2024, the company's revenue reached 721 million yuan, and in the first nine months of 2025, the company recorded revenue of approximately 552 million yuan, continuing a steady growth trend. During the same period, the adjusted net loss narrowed by 70% to approximately 13.755 million yuan, indicating a continuous and robust improvement trend in both "growth" and "profitability" dimensions. It is worth noting that as of the end of December 2025, Kales Technology's total amount of pending Siasun Robot&Automation and system orders is approximately 2.2 billion yuan, expected to be fulfilled within the next three years. Specifically, about 44.7% of pending orders are expected to be fulfilled in 2026, 47.3% in 2027, and the remaining portion in 2028. These will all contribute to the long-term drive of Kales Technology's performance. Behind the continuous leadership in product strength is Kales Technology's constant pursuit of innovation capability. From 2022 to 2024, the company's cumulative research and development expenditure reached 242 million yuan, and in the first nine months of 2025, the research and development expenditure reached 48.113 million yuan. The company's investment in research and development has translated into 379 registered patents and technological barriers for its three main product lines, continuously nourishing the company's technological moat. At the same time, Kales Technology supports a clearly structured three-tier research and development system: the Siasun Robot&Automation R&D Center focuses on hardware innovation and product development, the System Development Center provides an advanced software platform integrating AI algorithms for WMS, WCS, and RCS systems, and the AI Intelligence Research Institute promotes the use of AI tools and the development of high-value intellectual property for automation intralogistics solutions. These three research centers together form a tightly integrated research and development ecosystem, enabling the company to continuously enhance its Siasun Robot&Automation solutions and provide reliable performance for customers' operational needs. This vertical depth of development, from fundamental algorithms to applied scenarios, not only ensures the sustainability of the company's technological leadership position but also ensures that technological innovation can accurately address and solve actual industry pain points, converting every investment into long-term competitiveness and building up technological potential for the future. Globalization Strategy: From Technology Export to International Expansion, the Timing for Going Global is Right As the global manufacturing industry faces the dual challenges of efficiency bottlenecks and cost restructuring, the efficiency "storm" led by intelligent intralogistics Siasun Robot&Automation is sweeping across the globe. According to the latest forecast by Frost & Sullivan, the global intelligent intralogistics market is steadily growing, projected to reach 491.9 billion yuan by 2030, with a compound annual growth rate from 2025 to 2030 of 13.7%. It can be expected that Chinese companies will play a significant role in reshaping the global logistics chain, with Kales Technology serving as a prime example. The company's deep roots in the domestic market have laid a solid foundation for its overseas expansion. In recent years, Kales Technology has positioned itself strategically as "rooted in China, leading globally," striving to push its technology and expertise onto the international stage. Its business already covers 19 countries and regions, garnering strong international influence. At the same time, the company continues to benefit from the wave of Chinese companies going global, becoming a key promoter of critical intralogistics infrastructure for Chinese companies overseas. Driven by the strong global demand for intelligent intralogistics Siasun Robot&Automation, Kales Technology has achieved remarkable results overseasby the end of December 31, 2025, out of the 2.2 billion yuan pending orders, 46 are ongoing overseas projects with a total contract amount of 685 million yuan, including 35 ongoing overseas projects in collaboration with integrators with a total pending order amount of 572 million yuan. In the future, the company plans to strengthen its business network, expand its global sales and service network, and establish ten overseas sales, distribution, and technical support centers within the next five years, clearly indicating that its globalization strategy is entering an accelerating trajectory. At this point in time, going global will bring Kales Technology more strategic opportunities: on one hand, the sophisticated and diverse logistics environment in China has nurtured Kales Technology's excellent technical capabilities, which can be directly applied to international markets, creating a unique competitive advantage. Furthermore, China's relatively lower logistics costs and high-quality personnel enable the company to deliver cost-effective high-quality intelligent intralogistics Siasun Robot&Automation and systems. On the other hand, the company is actively expanding into high-value industries such as pharmaceuticals, 3C electronics, new energy, and automotive manufacturing, all of which have high requirements for automation and intelligence. Leveraging its successful implementation cases in these advantageous areas in China, Kales Technology further consolidates its global market position. Conclusion In summary, Kales Technology's continued leadership is akin to a "flywheel" composed of dimensions such as products, research and development, and market expansion. Leading-edge technology iterations and deeply contextualized product solutions constitute its leading product strength, while demand feedback from complex scenarios drives targeted innovation in research and development. The globalization layout provides broader market validation and iteration space for its technology and products, forming a virtuous cycle of "technology drives products, scenario feedback fuels research and development, and research and development supports international expansion." This cycle allows Kales Technology to break free from the shackles of homogeneous price competition and establish a foothold in the international market, ushering in a leap in value. At this juncture, the rapid growth in performance, holding a wealth of orders, and smooth international market expansion are positive signals that show the systematic competitive advantage of Kales Technology is beginning to bear fruit. In the long-term competition of intelligent intralogistics Siasun Robot&Automation, built on systematic capabilities such as deep research and development, scene integration, and a global perspective, will be crucial in determining Kales Technology's ultimate market position.