Company Overview
- Full Name: SIASUN Robot & Automation Co., Ltd. (沈阳新松机器人自动化股份有限公司)
- Founded: 2000
- Headquarters: Shenyang, Liaoning Province, China
- Founder/Chairman: Qu Daokui (曲道奎)—originating from the Shenyang Institute of Automation, Chinese Academy of Sciences
- Listed: Shenzhen Stock Exchange ChiNext (300024) since 2009
- Website: www.siasun.com
SIASUN was established in 2000 as the industrialization arm of the Shenyang Institute of Automation, Chinese Academy of Sciences. Designated as China’s “National Robot Industrialization Base,” it has witnessed the entire evolution of China’s industrial automation. SIASUN operates globally with offices in 8 countries, exports to over 40 countries and regions, and has served more than 4,000 enterprises with over 18,000 completed projects. Notably, 45% of Fortune Global 500 manufacturers are SIASUN customers.
Core Product Lines
Industrial Robots
SIASUN’s industrial robot lineup covers payload capacities from 3kg to 500kg:
- 6-Axis Industrial Robots: For welding, material handling, assembly, painting, and grinding
- SCARA Robots: For precision assembly and sorting in 3C electronics
- Collaborative Robots: Safe human-robot collaboration for flexible production lines
- Welding Robots: Spot welding, arc welding, laser welding, and riveting
- Heavy-Duty Robots: For shipbuilding and construction machinery
Mobile Robots (AGV/AMR)
SIASUN was one of China’s earliest AGV (Automated Guided Vehicle) developers:
- Warehouse AGVs: For smart warehousing and logistics
- Heavy-Duty AGVs: Up to 100+ ton payload capacity for ports and steel mills
- Composite Robots: Mobile base + robotic arm for “walking + manipulation” integration
- Inspection Robots: Automated patrol for power, petrochemical, and other industries
Specialized Robots
- Explosion-Proof Robots: For petrochemical and hazardous environments
- Counter-Terrorism/EOD Robots: Special equipment for police and military
- Underwater Robots: For underwater inspection and operations
Smart Manufacturing Solutions
SIASUN provides end-to-end solutions beyond individual robots:
- Automotive Manufacturing: Complete solutions covering welding, painting, assembly, and logistics
- New Energy Production Lines: Automation for lithium battery and photovoltaic manufacturing
- Intelligent Logistics Systems: End-to-end automation from warehousing to production delivery
- Rail Transit AFC Systems: Automated fare collection and integrated monitoring systems
Embodied Intelligence (Forward-Looking)
SIASUN is exploring embodied AI, combining large language models with traditional robot control for more intelligent and autonomous next-generation robots.
Funding History
SIASUN was listed on the Shenzhen Stock Exchange ChiNext board on October 30, 2009 as one of the first 28 companies on the board, raising approximately ¥580M (580 million RMB).
Financial snapshot (recent years):
- 2020 revenue: ~¥3.5B (35B RMB)
- 2021 revenue: ~¥4.0B (40B RMB)
- 2022 revenue: ~¥3.5B (35B RMB, impacted by COVID)
- 2023 revenue: ~¥4.0B (40B RMB)
As a long-standing A-share listed robotics company, SIASUN primarily funds operations through internal cash flow, bank loans, and refinancing. In 2019, the company raised approximately ¥1.5B through a private placement for R&D and capacity expansion.
Competitive Positioning
Core Strengths
- Full-category coverage: SIASUN is China’s only robot manufacturer offering industrial, mobile, and specialized robots across all three major categories
- Deep industry experience: 25 years serving 4,000+ enterprises with 18,000+ projects, accumulating rich process know-how across automotive, new energy, electronics, and petrochemical sectors
- CAS pedigree: Originating from the Shenyang Institute of Automation, providing unique advantages in technology development, talent pipeline, and national project access
- Global customer base: 45% of Fortune Global 500 manufacturers are SIASUN clients; exports to 40+ countries
- Systems integration: Provides “robot + process + software + integration” one-stop smart manufacturing solutions, not just individual machines
Differentiation
- vs Inovance/Easton: Inovance and Easton excel at servo drives and motion control; SIASUN wins on robot product completeness and system integration
- vs EFORT/Estun: These emerging players focus on specific industries; SIASUN has broader industry coverage and a more complete product line
- vs ABB/Fanuc/KUKA: The “Big Four” (ABB, Fanuc, KUKA, Yaskawa) still hold advantages in core component precision (reducers, servos); SIASUN competes on value, response speed, and domestic substitution policy tailwinds
Industry Outlook
Prospects
China has been the world’s largest industrial robot market for years, accounting for over 50% of global installations. According to the China Robot Industry Alliance, 2025 installations reached approximately 350,000 units (+10% YoY). Under the “domestic substitution” policy framework, local brands continue to gain market share. Embodied AI developments are injecting new growth momentum into the industrial robot sector.
Risks
- Margin pressure: Intense competition in industrial robots drives persistent gross margin compression
- Core component dependence: High-end reducers (RV reducers, etc.) still rely on Japanese suppliers (Nabtesco, Harmonic Drive)
- Macroeconomic sensitivity: Industrial robot demand correlates with manufacturing investment; demand contracts during economic downturns
- Technology gap: Still lags behind Fanuc, ABB in high-end welding and precision assembly applications
Key Watchpoints
- Can SIASUN’s embodied AI pivot become a meaningful new growth curve?
- Progress on domestic substitution of core components (reducers, servo systems)
- Overseas expansion pace, especially along the Belt & Road markets
- Market share gains in fast-growing sectors like NEVs, lithium battery, and photovoltaic manufacturing