New three-board robot enterprise research report: 22% loss
The robot industry is a crown jewel of the manufacturing sector and a disruptive technology that is shaping the future. In recent years, China's robot industry has been growing rapidly, becoming a new driver for economic development. As key players in this field, the companies listed on the New Third Board are characterized by fast growth and expanding industries. They offer valuable insights into the trends and performance of the most dynamic enterprises in the robotics sector. This study analyzes the open data of 64 new third board robot companies as of June 2017, examining their development characteristics in terms of scale efficiency, product types, and regional concentration to provide a comprehensive view of China’s robot industry. The findings serve as a useful reference for further expanding the industry’s potential and boosting its vitality.
Most of these companies are small or medium-sized, with significant differences in economic performance. Less than one-third of them reported revenues above 100 million yuan. In 2016, the largest group of companies had revenues between 10 and 50 million yuan, accounting for 41%, followed by those with revenues over 100 million yuan (30%), and those with revenues between 50 and 100 million yuan (22%). Only 7% of companies had revenues below 100,000 yuan. Many robot companies remain unlisted, and they are primarily small and medium-sized, highlighting the issue of fragmentation and limited competitiveness within the industry.
Profitability remains a challenge, with 22% of companies operating at a loss, a figure that has remained stable in recent years. However, some companies showed strong growth. For example, Zhisheng Intelligent experienced a 90% year-on-year revenue increase, demonstrating the potential of service robots. On the other hand, some companies faced sharp declines, such as Finder Company, which saw a 66% drop in revenue. Despite this, 79% of companies improved their profits year-on-year, reflecting an overall positive trend in 2016.
In key development areas, robotics companies are attracting attention from investors. Industrial robot firms dominate the market, but many face challenges due to foreign technological control. In contrast, emerging fields like robotic arms show strong momentum. Shenzhen Sinus Electric, for instance, saw its profit triple in 2016. Service robots, particularly in medical and virtual segments, are also gaining traction, though they started later. Companies like Tianzhihang and Zhisheng Smart have shown rapid revenue growth, despite ongoing losses.
Industrial robot companies make up the majority of new third board listings, accounting for 84%. Their supply chains are well-developed, though slightly imbalanced, with more upstream and downstream companies than midstream ones. Service robots focus on medical, virtual, and professional services, while special robots mainly target pipeline and air duct inspection. These areas are still niche, with fewer listed companies compared to industrial robots.
Regionally, the industry is concentrated in the Pearl River Delta, Yangtze River Delta, and Beijing-Tianjin-Hebei regions. Guangdong, Jiangsu, and Beijing lead in the number of new third board companies. The Yangtze River Delta and Pearl River Delta have well-established industrial chains, while Beijing-Tianjin-Hebei focuses more on service and special robots. The Northeast and central-western regions are developing quickly but still lag behind.
Overall, the Chinese robot industry shows strong growth potential, driven by innovation, investment, and regional specialization. Continued support and strategic development will be essential for enhancing competitiveness and driving long-term success.
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