Siasun

新松 / 沈阳新松机器人自动化股份有限公司

A Chinese industrial robotics and automation company supplying factory systems and semiconductor wafer-handling equipment to domestic manufacturers.

SZSE: 300024 (ChiNext)
Profile as of September 14, 2026
#114 in the AsiaAI Tech Index
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Siasun is strategically relevant to China's factory automation and semiconductor equipment ecosystems, benefiting from domestic substitution trends. However, its financial momentum is weak, marked by flat revenue, declining gross margins, and widening losses amid intense domestic price competition.

Key figures

Revenue FY2025: 4.122 billion Chinese yuan
Revenue growth FY2025: -0.40%
Operating margin FY2025: Not disclosed
Net income FY2025: -397.881 million Chinese yuan
R&D spend FY2025: 364.365 million Chinese yuan
Capital expenditure FY2025: Not disclosed
Market capitalization 2026-09-14: 20.416 billion Chinese yuan Estimate
Robot sales FY2025: About 13,676 units
Automated assembly and testing revenue FY2025: 1.493 billion Chinese yuan
Semiconductor equipment revenue FY2025: 525 million Chinese yuan
Gross margin FY2025: 12.48%

Overview

Siasun Robot & Automation Co., Ltd. was founded in 2000 and originated from the Chinese Academy of Sciences’ Shenyang Institute of Automation. It is a broad Chinese robotics and factory-automation supplier, providing industrial robots, mobile robots, warehouse automation, and transportation systems.

Unlike single-product robot makers, Siasun integrates robotics, motion control, and production-line design for large turnkey automation projects. It serves automotive, electronics, and logistics customers, delivering physical automation systems rather than AI compute.

The AI angle

Siasun’s most AI-relevant business is its semiconductor equipment segment, which generated approximately 525 million Chinese yuan in FY2025, or 12.74% of group revenue. The company supplies vacuum wafer-handling robots, atmospheric robots, equipment front-end modules (EFEMs), and wafer-transfer platforms used inside semiconductor fabrication and equipment workflows.

AI demand reaches Siasun indirectly. Semiconductor capital expenditure linked to AI chips increases demand for wafer-fab tools, which use Siasun's robots and EFEMs. Additionally, battery and electronics factories use its automation systems to expand output. The company is also researching humanoid and intelligent robotics through its Embodied Intelligence Research Institute, though humanoid robots are not yet a disclosed material revenue stream.

Technology and moat

Siasun’s competitive capability lies in integrating robotics, systems engineering, and on-site industrial deployment. Its breadth helps when customers buy turnkey automation projects rather than standalone robot arms.

In semiconductor automation, the technical hurdle includes reliability, contamination control, precision, and lengthy qualification at semiconductor-equipment customers. Siasun reports stable domestic production of dual-arm vacuum robots and high-precision EFEM systems. Its advantage in China is its state-linked research pedigree and customer qualification history, which aids in domestic procurement preferences, though it lacks the global installed base and brand acceptance of foreign incumbents like ABB or FANUC.

Five-pillar assessment

Scale and market position: A prominent Chinese industrial robotics and automation provider, though smaller globally than incumbents like ABB and FANUC.
Technology and R&D: Capable in systems integration and semiconductor wafer-handling automation, supported by its Chinese Academy of Sciences research pedigree.
Supply-chain centrality: Integrated into China's domestic semiconductor equipment supply chain, serving key tool makers like NAURA and AMEC.
Financial momentum: Facing financial headwinds with flat FY2025 revenue, declining gross margins, and widening net losses amid intense domestic price competition.
Governance and quality: State-influenced through the Chinese Academy of Sciences, providing domestic advantages but potential international perception challenges.

Supply chain and relationships

Siasun depends on domestic and imported industrial components, including precision reducers, servo motors, controllers, machine vision, sensors, and specialized manufacturing equipment. Supplier names and purchasing shares are not disclosed.

Downstream, its semiconductor-equipment customers include NAURA Technology Group, Advanced Micro-Fabrication Equipment China (AMEC), Yitang Semiconductor, Piotech, and Hwatsing Technology. It also serves automotive customers such as SAIC Motor, FAW Group, and Tesla. Siasun does not publish a customer concentration table, so named attributions rely on company disclosures and market reporting.

Customers

Advanced Micro-Fabrication Equipment ChinaUses Siasun vacuum robots in its equipment
PiotechSemiconductor automation and wafer-handling
Hwatsing TechnologySemiconductor automation and wafer-handling
Yitang SemiconductorSemiconductor automation and wafer-handling
TeslaNew-energy-vehicle automation solutions
SAIC MotorAutomotive manufacturing automation systems
FAW GroupAutomotive manufacturing automation systems

Partners

NAURA Technology GroupStrategic cooperation around semiconductor equipment
PanasonicAutomation projects for automotive-electronics

Competitors

ABBInferredCompetes in industrial robots and factory robotics
FANUCInferredCompetes in industrial robots and factory automation
Yaskawa ElectricInferredCompetes in industrial robots and factory automation
KUKAInferredCompetes in industrial robots and automotive automation
Estun AutomationInferredDomestic competitor in industrial robots
Efort Intelligent EquipmentInferredDomestic competitor in industrial robotics
Geek+InferredCompetes in warehouse automation and mobile robotics
HikrobotInferredCompetes in mobile robots and logistics automation

Geopolitics and risk

Siasun’s semiconductor-equipment business depends on Chinese fab and tool-maker demand, which is shaped by United States and allied-country export controls on advanced semiconductor equipment. While these restrictions drive domestic substitution, they also constrain the broader Chinese semiconductor ecosystem.

The company exports to more than 40 countries and has Southeast Asian activities, such as port mobile robots in Singapore. However, geopolitical tension, trade barriers, and foreign competition can limit international margin expansion. Furthermore, its reliance on imported precision components exposes it to potential supply-chain disruptions.

Risk matrix
Risk	Severity	Why it matters
Semiconductor export controls	High	U.S. restrictions shape Chinese fab and tool-maker demand.
Imported precision-component exposure	High	Disruption in imported reducers, servos, and sensors can impair performance.
China industrial-robot price competition	High	Aggressive domestic pricing pressure impacts margins.
Project-based revenue volatility	High	Systems integration projects make revenue and cash collection less predictable.
Semiconductor-customer qualification cycles	Medium	Lengthy qualification requirements can delay revenue.
State-linked governance exposure	Medium	Affiliation with the Chinese Academy of Sciences can complicate overseas perception.
Overseas expansion and regional political risk	Medium	Geopolitical tension and trade barriers limit international margin expansion.
Embodied-AI commercialization uncertainty	Medium	Humanoid robot research lacks disclosed material revenue or profitability.

Governance and ownership

Siasun is state-influenced, with its controlling institutional shareholder being the Chinese Academy of Sciences’ Shenyang Institute of Automation, which indirectly holds a 25.18% stake. This affiliation supports institutional credibility and access to public-sector ecosystems but can increase sensitivity to policy shifts and governance perceptions among overseas customers.

The company operates as a public entity listed on the Shenzhen Stock Exchange ChiNext board, subject to China Securities Regulatory Commission disclosure rules, with professional management and independent directors.

What to watch

Whether FY2026 semiconductor-equipment revenue rises above FY2025’s approximately 525 million Chinese yuan.
Whether gross margin recovers from FY2025’s 12.48% as the company shifts toward standardized products.
Whether robot shipments remain above FY2025’s approximately 13,676 units while revenue improves.
Whether the embodied-intelligence institute produces disclosed commercial orders or separately reported revenue.
Whether Siasun converts named semiconductor relationships into disclosed large-volume orders.
Whether operating cash flow improves after negative operating cash flow in the first half of 2025.

Recent developments

August 26, 2026Reported R&D investment of 196.340 million Chinese yuan for the first half of 2026.
April 23, 2026Released FY2025 results with revenue of 4.122 billion Chinese yuan and a net loss of 397.881 million Chinese yuan.
November 2025Presented its MR73A humanoid robot at the World Intelligent Manufacturing Conference in Nanjing.
October 24, 2025Announced asset-impairment provisioning and reversals for the third quarter of 2025.
August 26, 2025Reported first-half 2025 revenue of 1.660 billion Chinese yuan, down 0.07% year over year.
April 30, 2025Inaugurated its Embodied Intelligence Research Institute in Shenyang.

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About this profile

Compiled with AI-assisted research from company filings, market data, and published reporting as of September 14, 2026, then reviewed by AsiaAI.FYI. Figures marked Estimate are not company-reported. Check primary filings before relying on any number.

Confidence: B. Audited or exchange-filed annual-report data support financial results, but standalone capital expenditure, patent count, and AI-attributable revenue are not disclosed.

Main sources: Shenzhen Stock Exchange and CNINFO annual-report disclosures; Company investor-relations information; Company operating announcements; Financial-market data; Chinese business press.

All 74 sources

Position in the AI stack

Supplies semiconductor wafer-handling robots and factory automation systems that support the manufacturing of AI chips and adjacent industrial infrastructure.

Legal name: Siasun Robot & Automation Co., Ltd.
Headquarters: Shenyang, China
Founded: 2000
Founders: Qu Daokui / 曲道奎
Leadership: Hu Kunyuan / 胡琨元, Chairman
Zhang Jin / 张进, Vice Chairman and President
Employees: 3,585 (FY2025)
Ownership: Publicly listed; part of Chinese Academy of Sciences’ Shenyang Institute of Automation
Listings: SZSE: 300024 (ChiNext)
Business: Industrial robotics, factory automation, and semiconductor wafer-handling equipment
Sector: Equipment & Materials
Industrial Automation & Robotics
Website: siasun.com