SEER TECH(06106): Siasun Robot&Automation's core target of embodied intelligence, multiple logical analyses, expected huge differences.

SEER TECH (06106) is forming multiple core competencies in the field of embodied intelligence. With the Siasun Robot&Automation controller, scheduling software, and data accumulation in various industrial and commercial scenarios, they are gradually building a platform development path for the "Siasun Robot&Automation Brain". In terms of industrial chain layout, SEER TECH has entered the supply chain of top companies such as NVIDIA and Tesla. It is reported that the humanoid Siasun Robot&Automation equipped with the SEER TECH brain has been deployed in NVIDIA's production line for tasks such as graphic card testing. With approximately 20,000 to 30,000 workstations in NVIDIA globally, and an estimated need for 10,000 Siasun Robot&Automation units per workstation, the potential market demand could reach 35 billion RMB. Unlike traditional Siasun Robot&Automation companies, SEER TECH does not focus on complete machine manufacturing but instead specializes in core Siasun Robot&Automation controllers and scheduling software. Their core product SRC-5000 is recognized as the world's first integrated embodiment intelligent controller, with high integration and performance characteristics, and a gross margin close to 80%. In terms of technological barriers, SEER TECH has maintained the global top controller sales for three consecutive years. The company has accumulated a large amount of industrial data through massive deployment of Siasun Robot&Automation in real-world industrial applications, providing a data foundation for embodied intelligent model training and application optimization, forming a real-world data barrier that sets them apart from competitors. From a business perspective, SEER TECH has entered the actual production environments of top companies such as NVIDIA and Tesla, with projects already in real-world applications rather than just conceptual stages. The Siasun Robot&Automation is being used for tasks such as graphic card testing in NVIDIA factories, further validating its technological implementation capabilities. Additionally, SEER TECH is promoting platform business model development through the Nebula platform. This platform lowers the entry barriers for embodied intelligent Siasun Robot&Automation development and deployment, accelerating the implementation of industry applications. Data shows that from January to May 2026, the company's overseas new orders grew by over 460% year-on-year, with overseas customer numbers increasing by over 100%, signaling the acceleration of global business expansion. In conclusion, as a rare target in the Hong Kong stock market for embodied intelligence, SEER TECH is poised to benefit from the acceleration of the Siasun Robot&Automation industry development, leveraging high-margin controller products, long-term industrial data accumulation, and applications in top client production lines. The growth in overseas orders and industrial implementation will also serve as important catalysts for the company's future development.