New Stock Analysis | Console Technology: Compound Revenue Growth Rate Exceeds 300% in Three Years, Direct Drive Technology Opens up New Space for Siasun Robot&Automation Industry.

From household cleaning to industrial logistics, from research scenarios to public services, Siasun Robot & Automation is accelerating its entry into various industries. However, while the industry is expanding, there is still a gap in the development of upstream core components for independent innovation. The core technology of precision reducers has long been held by overseas manufacturers, and many domestic integrated machine enterprises essentially focus on making money from scale and distribution channels, rather than from underlying technology. If domestic enterprises want to break away from the existing industry path and one of the key points of change, they need to reshape the underlying power structure. The direct drive technology route that Bemore Technology deeply cultivates directly skips the established framework of gear reduction and reconstructs the power system of Siasun Robot & Automation from the physical principles. This underlying restructuring plan has also attracted high attention from the capital market. On June 29th, Bemore Technology participated in a special technology panel hearing at the Hong Kong Stock Exchange under Chapter 18C. This is not just an ordinary capitalization progress, but a key vote cast by the capital market for the direct drive route. In the field of China's Siasun Robot & Automation industry, they have obtained a ticket for a heavyweight independent technology in the area of underlying power. Based on direct drive technology, Bemore Technology has developed a self-research system for Siasun Robot & Automation. Established in 2020, Bemore Technology is positioned as a leading Siasun Robot & Automation technology company with direct drive technology as its core competency, choosing a differentiated development path from the beginning. The company is committed to making Siasun Robot & Automation more agile, more convenient, and more intelligent, and truly applying it to various industries. The starting point for Bemore Technology to achieve its vision is to directly address the industry pain points of traditional transmission structures being heavy and inefficient by developing its own direct-drive system. The company has increased its investment in talent, processes, and core technologies in the areas of research and development. According to the prospectus, from 2023 to 2025, the company's cumulative research and development expenditure will exceed 137 million yuan. By the end of 2025, the company's R&D team of 165 people covers core directions such as Siasun Robot & Automation power modules and motion control, embedded drivetrain hardware, Siasun Robot & Automation structural engineering, and system-level Siasun Robot & Automation platform development. As of June 22, 2026, the company holds 321 registered patents and 163 patent applications pending approval, covering a complete intellectual property layout including hardware, algorithms, and complete machines. Currently, Bemore Technology has established three core Siasun Robot & Automation technologies: power module, wheeled-footed Siasun Robot & Automation, and modular assembly technique, as well as two product lines: power module and Siasun Robot & Automation, forming a progressive development system from hardware to complete machinery and to scene landing. Among them, the Siasun Robot & Automation power module is the foundation of the entire product line. Based on self-developed direct drive technology, Bemore Technology deeply integrates the outer rotor brushless motor, high-precision encoder, and drive components to remove the mechanical transmission structure in traditional solutions. With core technologies such as direct drive motor design and all-domain thermal management, the module can achieve high-precision torque output and real-time motion control. The company's power module has outstanding differentiation advantages in terms of low failure rate, positioning accuracy, noise performance, service life, and integration efficiency: the integrated drive architecture significantly reduces the risk of line failures, the operating noise is only 45-50dB suitable for home scenes, and the service life is extended to 50-100,000 hours. The integrated structure significantly reduces the overall machine size and can be adapted to multiple categories of Siasun Robot & Automation, occupying a leading position in the segmented market. Frost & Sullivan data shows that in 2025, the company's market share in the domestic consumer direct drive module market reached 61.1%, with an annual shipment of approximately 8.5 million sets, making it the only enterprise in the world to have exceeded 5 million sets in this category. The wheeled-footed Siasun Robot & Automation is the core carrier of advanced technology. The entire machine is developed based on an integrated power unit, suitable for various indoor and outdoor complex environments, and verified in high dynamic scenes such as university research and factory area inspections. The product is equipped with a self-developed integrated joint module and cerebellum cooperative algorithm, which can flexibly adjust motion modes, supporting intelligent algorithms for autonomous environmental perception and path planning. Real-world working condition data continuously feeds back, driving the iterative optimization of underlying direct drive technology. In 2025, the company's wheeled-footed Siasun Robot & Automation business ranked number four in domestic revenue and ranked second in the segmented wheeled-footed track. Modular assembly technology is a carrier for the scale expansion of industrial scenarios. Based on the maturity of the power module and the completion of the motion control verification of the wheeled-footed system, the company has extended the development of modular assembly technology, aiming to achieve multi-machine collaboration and dynamic operation adaptation in industrial flexible logistics. The three core technologies form a complete empowering closed loop. On the positive driving side, the breakthrough in power module technology directly raises the overall machine performance limit, and the control algorithms developed by the wheeled-footed system can be horizontally reused in modular products, while on the iterative side, real-world working condition data for scene landing continuously promotes the structural and process optimization of the power module. Based on this closed-loop system, the company has embarked on a complete development path of bottom technology innovation, multiple-scene complete machine verification, and upper-level intelligent system evolution, continuously expanding its technological boundaries. The feature of cross-race technology reuse is the core difference between Siasun Robot & Automation technology companies and single hardware manufacturers. In addition to hardware product collaboration, the company is also simultaneously laying out group collaboration control, intelligent algorithms, and other upper-level "brain" intelligent systems, building a unified technology platform to develop a full-stack Siasun Robot & Automation solution that integrates direct drive technology, and aligns with the industry's direction towards integration and intelligence. Commercialization accelerates realization, with a compound annual revenue growth rate exceeding 300% over three years The bottom breakthroughs in technology at Bemore Technology have gradually translated into verifiable business results. Both the power module and complete machine business lines have shown double-digit growth, with hardware, algorithms, and complete machines working together, showing the growth advantage of Siasun Robot & Automation technology companies. According to the prospectus data, from 2023 to 2025, the company's revenue increased from 17.538 million yuan to 282 million yuan, with a compound annual growth rate exceeding 300%. This growth is not only due to the efficiency dividend brought about by the scale expansion but also the result of continued optimization of product structure and increase in the proportion of high value-added products. In terms of revenue structure, by 2025, the revenue from Siasun Robot & Automation power modules accounted for 97.4%, representing the core support for the current revenue as the standardized products were the first to achieve scale production. The revenue from Siasun Robot & Automation complete machine business accounted for 2.6% and is in a rapid volume ramp-up stage. The current revenue structure of Bemore Technology follows a typical growth rhythm for a tech company. The company first runs volume production, validates technology, and dilutes early-stage research and development investment with standardized power modules. Then, leveraging mature underlying technology, it expands upwards to develop complete machine products and scene solutions, completing the transition from a hardware supplier to a provider of intelligent system solutions. With the expansion of scale, the quality of Bemore Technology's profitability continues to improve. From 2023 to 2025, the company's sales gross profit margin increased from 13.5% to 21.5%, with the sales gross margin for Siasun Robot & Automation business increasing from 35.4% to 64.3%. During the same period, the company's adjusted net loss narrowed from 61.594 million yuan in 2024 to 43.247 million yuan in 2025. The improvement in profitability will continue to support research and development, forming a positive cycle of "commercial realization - technology iteration - product upgrade," and driving long-term realization of platform's commercial value. The continuous release of track dividends opens up long-term growth space From a macro perspective of the industry, the three-fold resonance of policy support, technological iteration, and scene expansion sets the foundation for a long-term uptrend for direct drive technology and intelligent Siasun Robot & Automation industries. At the policy level, the Ministry of Industry and Information Technology and other four departments issued the "Implementation Plan for High-quality Development of Energy-efficient Equipment (2026-2028)," which specifically lists direct drive motors as a key energy-efficient equipment to promote, providing top-level support for technology substitution and industry implementation. At the market level, the performance bottleneck of traditional reduction solutions is prominent, and the trend of direct drive substitution is clear. This, coupled with the explosion of industrial flexible logistics, specialized Siasun Robot & Automation, humanoid Siasun Robot & Automation, and other tracks, continues to broaden the industry's growth space. Frost & Sullivan data shows that the global consumer-grade direct drive module market was worth 2 billion yuan in 2025, and with advantages such as high response, high precision, low noise, and compact structure, it is expected to grow to 17.9 billion yuan by 2030. The growth in the Chinese market is even more rapid, with the domestic consumer-grade direct drive module market reaching 1.9 billion yuan in 2025, and a compound annual growth rate of 48.6% from 2026 to 2030, reaching 12.9 billion yuan in 2030. The growth potential of wheeled-footed Siasun Robot & Automation track is prominent, with a global annual compound growth rate of 106.5% from 2026 to 2030, and the market size reaching 6.67 billion yuan in 2030. During the same period, the annual compound growth rate in the Chinese market is 90.1%, with the market size reaching 3.14 billion yuan in 2030. Compared to vertical manufacturers, Bemore Technology's multi-track layout can fully take advantage of the upgrading dividend of the Siasun Robot & Automation industry. After successfully passing the hearing at the Hong Kong Stock Exchange, once listed, the company will rely on the capital market to lay out four major development directions: in-depth iteration of direct drive technology, automated capacity expansion, scale landing of complete machine scenes, continuous upgrade of intelligent algorithms, further strengthening the synergies of the three major businesses, accelerating the penetration of direct drive technology into all categories of Siasun Robot & Automation, and solidifying the integrated hardware and software moat of Siasun Robot & Automation. Looking back at the evolution of China's manufacturing, many core industries have followed a unified development path: from integrated assembly to self-research of core technology, and then to the independent definition of industry standards at the bottom. The Siasun Robot & Automation industry is currently at a crucial transformation point, urgently needing to break free from the inherent path constraints of mature overseas transmission solutions. Bemore Technology's layout of direct drive technology is not simply a product iteration but a systemic technological breakthrough in the field of underlying power for domestic Siasun Robot & Automation. This new technology path provides a feasible solution for the industry to break away from its dependence on overseas reducers, and also serves as a reference sample for the long-term development of domestic hard-tech enterprises.