A：Huayan Robot Company was listed in Hong Kong and the United States on March 30 this year with the stock code 1021. The founder of Huayan Robot graduated from Beihang with a master's degree. Both he and CTO have a background in motor motion control technology of Beihang. After graduation, they worked in SMPT, a listed company in Singapore, for four years. After that, they returned to Shenzhen and co-founded Dazu Laser to co-found Dazu Motor.

A：Huayan Robot Company is under the background of giant competition, almost fully participating in the humanoid robot industry, and has also made remarkable achievements in the export market, with overseas business accounting for about half of the total revenue. The company's products are mainly divided into two categories: one is the whole machine of collaborative robots, accounting for 75% of the total revenue in 2022; the other is the core moving parts, such as six-axis collaborative robot joints and precision motion platforms, accounting for 25% of the total revenue last year.

A：In the early days of the big family of motors, the main linear motor supporting, including providing domestic alternative linear motors for the big family of numerical control, and in the later stage participated in the production of Apple equipment, such as cockpit and dart equipment.

A：Dazu Robot Co., Ltd. was established in 2017 by the company held by Dazu Laser, and the restructuring of management holding will be completed in 2020. Huayan Robot Company has accumulated more than 20 years of research and development of core moving parts. Most of the team members are from Beihang, and the CEO, CTO and other core personnel have SMPT working background. In addition, the company also has the technical background of big data light, focusing on industrial and high-end manufacturing fields, such as semiconductors, robots, high-speed drives, etc.

A：The share of domestic collaborative robots in the domestic market has increased from single digits to more than 90% in the past few years, while the market share of foreign brands has dropped from more than 70% to single digits, showing huge domestic substitution opportunities.

A：Huayan Robot Company has developed its own frameless torque motor, high-end 4-volt driver and robot motion control algorithm. These components have the world's leading precision, speed and load capacity. Especially in the field of humanoid robot components, it has accumulated more than 20 years of research and development experience, which makes the company have obvious advantages in this field.

A：Our core moving parts business mainly includes two categories: one is frameless motors directly applied to robot arms, such as articulated humanoid joints composed of harmonic reducers and four drives, which can be flexibly made into dexterous hand motors with seven degrees of freedom; the other is articulated motors containing torque sensors and components used to build humanoid arms.

A：Last year, the business revenue was only a few million, this year is expected to reach nearly 0.1 billion, next year is expected to grow to 3 to 0.4 billion or even more than 0.5 billion. That means at least 200 to 300 percent growth.

A：Precision platform business is widely used in the field of semiconductor testing, such as China's fly test and other industrial chain, but also involves gene sequencing, office testing and optical fiber coupling, etc., to provide high-precision positioning services, accuracy can reach a few nanometers to tens of nanometers level. Although the heat of this market is not as hot as the concept of humanoid robot, but because of its strong domestic substitution demand in semiconductor detection, fiber coupling and other fields, the market space is large, and the technical barriers are high, with good gross profit and competitiveness.

A：We work with downstream equipment vendors to develop standard equipment for special scenarios, and once the development is successful, we can quickly mass-produce and sell to more customers. For example, a customer in the repainting market of a car 4S store has developed a standard repainting process based on our robot products and plans to extend it to thousands or even tens of thousands of units.

A：Our company's business model is to big B model, which mainly cooperates with professional companies in the fields of machine tools and logistics terminals to provide standard products and empower these enterprises to carry out product development and customer delivery. By cooperating with head equipment vendors, we can achieve volume growth at a lower sales expense rate. Our business model is similar to selling shovels, focusing on providing efficient and low-cost automation solutions for downstream enterprises.

A：The advantage of the to Big B model is that the cost of sales is low and sticky, and as customer demand grows, our business will grow in a multiplier way, rather than a simple additive superposition. At the same time, we have a wide range of applications in different industries such as shipbuilding, spraying, welding, polishing, medical and surgical robots, and we are looking for head equipment manufacturers to cooperate in each scenario to achieve rapid growth.

A：In terms of loading and unloading of machine tools, we have signed cooperation agreements with some companies, such as the 10,000-unit contract recently signed with the new generation. In addition, these scenarios can be standardized as equipment products in a number of new scenarios such as welding, logistics palletizing (e. g., express delivery), medical health (e. g., Rossoff Ningjin, etc.), coffee therapy health, and agriculture and animal husbandry (e. g., cow bath, refueling, charging, etc.).

A：In the past three years, our growth rate has reached 50%, and we have achieved profitability since 2014 and have maintained it so far. Among the listed companies in the robotics industry, we are one of the few companies that can continuously make profits. In addition, overseas export revenue has also achieved significant growth. It reached 0.387 billion last year and is close to 0.6 billion this year. The European and American markets dominate. At the same time, it also has a deep layout in Japan, South Korea, Southeast Asia and other places.

A：Our biggest competitor is a Danish company that was acquired by Teradyne and currently has the largest market share in the world. However, with the technological progress of Chinese manufacturers, the cost-effective advantage is gradually emerging, and it is expected that the gap will soon be narrowed in the domestic and foreign markets.

A：Our products are technically difficult to manufacture and need to meet a variety of stringent requirements such as versatility, accuracy, speed, load and stability, such as repeated positioning accuracy of 0.02 or even 0.015mm, and long-term stable work in harsh environments. This involves the accumulation of research and development of the underlying moving parts and the overcoming of many technical problems, some core components such as chips and harmonic reducers are still dependent on imports or external mining, but we are actively laying out independent research and development and domestic substitution.

A：The company's main advantage lies in the manufacturing process, especially in structural parts and assembly, rather than component accumulation or underlying research and development.

A：The company's external products are divided into two main categories: humanoid robot-related core components and precision motion platform. At present, the income in the domestic market is relatively large, and the foreign market is close to 1 to 1. Among them, the revenue of core moving parts in the domestic market is growing rapidly, and it is expected to increase from the current 1/3 revenue share to more than 40% in the next few years, while the growth of the robot business is relatively stable and may remain at about 30% to 40%.

A：The company's current development focus is to invest in the research and development and production of humanoid robots while deepening the underlying technology of robots. It is expected that humanoid robots will grow greatly in the next 1-2 years, especially in the Chinese market, the sales volume will increase from about 16000 units this year to about 70000 units next year.

A：In the domestic market, the company chooses to cooperate with customers with excellent qualifications and high basic level, focusing on cost-effective and high-performance products; in foreign markets, the company is actively deploying, especially in the United States, Germany, South Korea, and Southeast Asia. The penetration rate of foreign countries is low, and there is a lot of room for improvement. The company plans to increase this ratio by increasing resource investment.

A：Although the intelligent emergence and generalization of humanoid robots are still in the development stage, it is expected to reach the mature stage around 2028, when the market size may reach the level of millions of units, but this process requires huge R & D investment, including R & D and data collection. Nevertheless, with the advancement of technology and the expansion of application scenarios, third-party forces such as leasing companies may flood into the robot industry chain within two years to accelerate the development of the industry.

A：The parts we produce may account for about 60% of the whole machine and can be widely used as standard products. Customers will lease or buy these parts, and we benefit more indirectly than selling the whole machine directly.

A：This year is expected to have 0.1 billion revenue, and next year may reach about 30% growth, close to 1 billion is expected to grow to 30%. Moreover, there are not many companies doing the same business in China. We have a unique entry point and a business segment with components and robots.

A：It has selectively made a part of the market at home and exported more abroad, especially in cooperation with large foreign industrial giants, and its market share ranks fifth in the world. The target market is mainly the field of all things that can be moved. At present, the domestic and global market share of the cooperation mechanism cannot be said to be the largest. Although we have a high proportion in some aspects, we are also developing complete products, such as massage robots. We are its upstream supplier, accounting for up to 7% to 80. We ensure its performance by controlling the execution accuracy such as jitter, vibration and other procedural factors. This mode is somewhat similar to the situation of Time Company.

A：In the big B- end market, our sales expenses are relatively low, and we can obtain stable high gross profit when working with foreign big B customers. For example, the combined gross profit can reach 40%, and the gross profit of export business can even reach 50%-60%. By establishing long-term cooperative relations with large global enterprises, although the cycle is long, the customer is extremely sticky, and once it becomes a supplier, it is usually not easy to change.

A：Improving the efficiency of motor use naturally reduces heat generation, thereby reducing the need for heat dissipation. By developing our own motor drive components, we optimize the design to improve thermal management, reduce additional heat generation caused by additional precision control, and achieve better heat dissipation.

A：Since 2024, our cash flow has been almost positive and our profits have remained stable. Even new customers have few account periods. Most account periods are one month. There are even long-term re-purchase customers who give some credit and account period support.