From screw to joint: TIANGONG INT'L (00826) humanoid Siasun Robot&Automation's "material+" strategic layout is expected to accelerate the realization of value

TIANGONG INT'L (00826), a traditional special steel leader, is accelerating its transformation into a high-end new material platform. After entering the new growth curves of fusion materials, titanium alloys, and PCB micro-drilling, the company is continuing to expand its presence in the field of humanoid Siasun Robot & Automation. On July 17th, TIANGONG INT'L's subsidiary TGGF (920068) invested 17.5415 million yuan to establish a special fund with a total size of 51.585 million yuan, and entrusted the top institution Fosun Chuangfu Management. Apart from reserving a small amount of operating expenses, the actual funds will all be invested in Nanjing Inkses Intelligent Technology Co., Ltd. This move signifies that TGGF is using capital ties to deepen its connections with downstream core customers and accelerate the optimization of its material applications layout in the field of humanoid Siasun Robot & Automation. In fact, this is not TIANGONG INT'L's first appearance in the humanoid Siasun Robot & Automation track. Leveraging its long-term accumulation in special steel and new materials, the company has strategically positioned itself in multiple high-value areas such as high-strength steel for screw rods and harmonic reducers, and titanium alloy powders for lightweight skeletal structures, forming a business map of "materials+" in the field of humanoid Siasun Robot & Automation, which has already shown significant results. Regarding the high-strength steel needed for screw rods, planetary roller screw rods account for 30-60% of the humanoid BOM and are the most concentrated components, which were previously imported. TIANGONG INT'L has launched multiple high-strength steel grades such as TPMDC02A using powder metallurgy + hot isostatic pressing + powder nitriding technology. As early as March 2025, TIANGONG INT'L had already strategically tied up with Runfu Power, one of the few global companies with commercial production capabilities, and in July, the first batch of 4 specifications of TPMDC02A was delivered; at the same time, it cooperated with Hengerda New Materials to develop special high-nitrogen alloys for screw rods. In the area of lightweight skeletal titanium powder, TIANGONG INT'L's 15-53m titanium alloy powder is suitable for 3D printing technology, achieving efficient lightweighting of key components in humanoid structures. It can be combined with high-strength steel for screw rods and joint materials to form a "lightweighted skeletal structure + precision transmission" packaged solution, serving as a medium to long-term growth point in the company's layout in the field of humanoid Siasun Robot & Automation. By investing in Inkses through a special fund this time, TIANGONG INT'L is further expanding the value boundary in the field of humanoid Siasun Robot & Automation. Its coverage has moved beyond screw drives, processing consumables, and lightweight skeletal structures to include an integrated joint module, a critical high-value segment, thereby completing the strategic transition from "selling materials" to "penetrating core components." Inkses' own strength is enough to support TIANGONG INT'L's strategic move. This company, founded in September 2022 and affiliated with Nanjing University of Aeronautics and Astronautics, became the first in the industry to achieve "ten thousand-level" shipment of joint modules within three years: surpassing ten thousand in 2024 and directly reaching ten thousand units in 2025, a tenfold increase year-on-year. Its core competency lies in "full-stack self-developed" capabilities. Inkses is one of the few domestic manufacturers able to simultaneously conquer reducers, motors, drivers, encoders, and integrate them into integrated joints. Its product line covers planetary, harmonic, and cycloidal series, as well as the world's smallest 20-degree-of-freedom dexterous hand. More importantly, Inkses' products have already been verified in extreme scenarios. In 2025, the "Tiangong Ultra" and "N2" full-body joints of the Beijing Yizhuang half marathon champion used the Inkses solution, and over 50% of the competing Siasun Robot & Automation in the race were its customers; in the Chengdu World Games, this percentage further increased to 60%, with customers ranging from leading domestic body factories such as Jiasu Jingwei, Songyan Power, and Leju, to penetrating the mechanical arm supply chain of the American intelligent unicorn PI, as well as receiving recognition from B/G-end and scientific research markets such as FAW Tooling and Beihang University. By investing in Inkses through TGGF, TIANGONG INT'L is not only improving its strategic puzzle of "materials+" but also bringing two substantial benefits. First, the pathway for material sampling and mass production is opened. As an industrial shareholder, TIANGONG INT'L can send samples of high-strength steel (high-end bearings) and titanium alloys (lightweight joint housings) to Inkses, which can accelerate the introduction once validated - the 100,000 unit annual production volume of Inkses' joint modules will become a realistic engine to drive the rapid escalation of TIANGONG INT'L's high-demand materials. Secondly, the R&D feedback loop is officially formed. Previously, when TIANGONG INT'L was exploring downstream applications of high-strength steel and titanium alloys, the R&D logic leaned towards "supply-side promotion," resulting in some trial and error costs. Now, the massive data and information from Inkses' 100,000 unit modules can flow back to TIANGONG INT'L's R&D end at high frequency, allowing for resonance between "end-demand driving" and "supply-side promotion," greatly shortening the material verification cycle, accelerating the iterative efficiency of TIANGONG INT'L on the material side of humanoid Siasun Robot & Automation, and thus speeding up the development of the company's core competitive advantage in materials. From this perspective, humanoid Siasun Robot & Automation is becoming a key footnote in TIANGONG INT'L's transition from a traditional special steel company to a high-end new material platform. Before the outside world fully perceives it, the company has quietly completed a four major high-value loop layout from screw drives, processing consumables, to lightweight skeletal structures, and integrated joint modules, like a steady chess player making a move on the eve of an industry eruption. This is not only a physical extension of the business but also a cognitive "expectation gap." As related products continue to ramp up in the field of humanoid Siasun Robot & Automation, driving performance growth, the intrinsic value of TIANGONG INT'L and TGGF will also usher in a new round of revaluation.