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Midea’s washing machine factory in Jingzhou has received certification from the World Record Certification Agency (WRCA) as the “world’s first <a href="/industry/ai">artificial intelligence</a> agent factory with multi-scenario coverage.”
As the first of its kind in the industry, the plant runs on a system it calls a “factory brain,” which orchestrates 14 AI agents across 38 business scenarios. These span functions from perception and decision-making to execution, feedback, and continuous optimization. In practice, the agents are said to complete tasks that once took hours of manual work in seconds, raising efficiency by more than 80% on average. Scheduling response times are up 90%.
The system acts as the plant’s “nervous system.” Built on a distributed, scalable multi-agent architecture, it enables AI agents to work autonomously through agent-to-agent (A2A) communication and enhances decision-making with industrial large model inference engines.
If the factory is a body, the brain is its task dispatcher, the AI agents are its neural networks, and intelligent terminals such as robotic arms and sensors are its limbs.
One common task at the Jingzhou facility is quality inspection. Workers wear an AI-powered headset linked to the system, which highlights common error points based on market data and historical inspection results. Using vision technology, the headset connects with both R&amp;D and quality control agents to automatically retrieve blueprints, compare them with captured images of materials, and return inspection results. This has reportedly cut initial check times from 15 minutes to about 30 seconds.
At an automatic fastening station for dryer rear covers, a Kuka robot works with a planning AI agent. Real-time image uploads allow the system to identify product features and match them with multiple washing machine models. Even on mixed production lines, the system can instantly adjust screw-tightening programs, enabling flexible, precise operations comparable to human adaptability.
Zhang Xiaoyi, Midea’s chief digital officer, said that under the system’s coordination, every production element—humans, machines, materials, methods, and environment—works as part of an interconnected whole. Intelligent terminals such as humanoid robots, robotic arms, AMRs (autonomous mobile robots), injection molding machines, cameras, and sensors are all equipped with perception, comprehension, decision-making, and action capabilities.
The humanoid robotics sector is growing quickly and is expected to play a central role in factories of the future. Unlike many manufacturers still in the conceptual stage, Midea has deployed humanoid robots in real-world industrial settings. At the Jingzhou plant, one such robot has completed staged testing in an injection molding workshop and been connected with factory business systems.
Midea’s AI research institute has developed Miro, a humanoid robot that serves as a core execution unit of the AI agent system. Directed by the factory brain, Miro works with quality control, DMS (daily management system), TPM (total productive maintenance), and EHS (environment, health, and safety) agents. With multimodal sensing and embodied operation technologies, the robot autonomously carries out frequent tasks such as quality checks, DMS meetings, TPM inspections, and EHS patrols, making real-time decisions across workflows.
In one example, Miro conducts an initial inspection by moving an injection-molded washing machine drum to a smart inspection station. Its self-developed 3D camera measures dimensions and appearance. The quality control agent receives the results in real time, generating a closed-loop work order. Only once a part passes inspection does the robot return to collect it. If defects are found, the system coordinates with process and TPM agents to fine-tune injection machine parameters.
<figure id="attachment_157034" aria-describedby="caption-attachment-157034" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-157034" src="https://console.kr-asia.com/wp-content/uploads/2025/09/Midea-Miro.jpg" alt="Photo shows a Miro robot model in a demo by Midea." width="1920" height="1280" srcset="https://console.kr-asia.com/wp-content/uploads/2025/09/Midea-Miro.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/09/Midea-Miro-720x480.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/09/Midea-Miro-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/09/Midea-Miro-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/09/Midea-Miro-1536x1024.jpg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-157034" class="wp-caption-text">Photo shows a Miro robot model in a demo by Midea. Photo and header photo: Midea.</figcaption></figure>
Still, humanoid robots remain in the exploratory phase of large-scale application. Xu Yi, head of Midea’s AI research institute, said the top priority is scenario-based problem-solving. A greater variety of use cases provides the testing ground needed to advance technology and drive system evolution. Within the factory, multi-agent collaboration continues to strengthen the capabilities of robots and intelligent terminals, significantly boosting efficiency.
According to Zhang, Midea plans to expand the number of scenarios covered by AI agents and replicate the factory model across its global manufacturing network.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3443892636177796">article</a> was written by Huang Nan for 36Kr.

Midea’s “AI agent factory” signals a new model for global manufacturing

Artificial Intelligence

Deep Tech

Embodied Intelligence

China

… new biorecycling technology. In June this year, fashion group Mango teamed up with Swedish sustainable materials company Circulose to transition its MMCF (man-made cellulosic fiber) usage to Circulose material, made from 100% discarded textiles.
China’s “3060” carbon strategy includes guidance on accelerating the recycling of waste textiles, targeting a 30% recycling rate by 2030 and annual output of three million tons of recycled fibers.
Although Regrowblu began supplying recycled fabrics to international luxury and FMCG brands in 2024, it said geopolitical factors have limited its visibility, blunting the impact of its technology on brand recognition.
“No matter how much overseas design teams value the benefits of our high-recycled-content fabrics, it doesn’t guarantee brand exposure,” YK said. She is determined to boost Regrowblu’s profile among B2B customers and build recognition among consumers:
<blockquote>“We want Regrowblu to be the standard symbol for enhancing the sustainable value of brands and products.”</blockquote>
The company’s revenue has reportedly grown more than 110% year-on-year for three consecutive years. While brand value takes time to develop, steady income from ODM orders overseas has underpinned expansion and domestic market entry.
With these profits, Regrowblu said it has been able to afford local clients the opportunity to try products first before placing larger orders. Through the mini program, domestic orders can be fulfilled in as little as two weeks. The company’s fabrics are now used by brands across Alibaba’s Taobao ecosystem and lifestyle platform Xiaohongshu.
Ultimately, consumers are the endpoint for any brand, and a functioning circular textile system cannot be built without their participation.
On the consumer side, angel investor Seven partnered with Regrowblu to co-found the circular design brand Odeuxplan. Through the brand’s mini program, shoppers can buy clothing, hats, and other items made from recycled fabrics.
Unlike traditional fashion brands, Odeuxplan treats the purchase as the beginning of a product’s journey. Each product has a unique ID that, once activated, lets consumers track usage days and carbon footprint. The longer an item is used, the higher its buyback value when returned to the platform. Customers can also trade in old clothes, including from their own closets, for credit toward new purchases.
<figure id="attachment_157025" aria-describedby="caption-attachment-157025" style="width: 480px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-157025" src="https://console.kr-asia.com/wp-content/uploads/2025/09/Odeuxplan.jpg" alt="An interface overview of Odeuxplan’s mini program." width="480" height="320" srcset="https://console.kr-asia.com/wp-content/uploads/2025/09/Odeuxplan.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/09/Odeuxplan-720x480.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/09/Odeuxplan-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/09/Odeuxplan-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/09/Odeuxplan-1536x1024.jpg 1536w" sizes="(max-width: 480px) 100vw, 480px" /><figcaption id="caption-attachment-157025" class="wp-caption-text">An interface overview of Odeuxplan’s mini program. Image source: 36Kr.</figcaption></figure>
“With Regrowblu’s underlying technology, old clothes transform from waste into a readily accessible resource bank,” YK said. “By providing visible incentives, we hope to encourage both consumers and brands to participate in circular systems. As people begin to consume, recycle, and consume again, high-value materials can keep flowing back into our production lines, avoiding landfills entirely and cutting the environmental burden from waste at the source.”
From consumer awareness to brand development, from recycling networks to closed-loop systems, both mindsets and industrial chains are evolving. The choices we make in designing, consuming, and assigning value to clothing will shape the paths those garments take next.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3419565619187331">article</a> was written by Zhang Bingbing for 36Kr.

Closing the loop: How Regrowblu is pushing China’s textile industry toward full circularity

Sustainability

… Asia, Chinese companies are still able to sell cars at much higher prices in the region than domestically. For example, BYD's Seal 05 plug-in hybrid sedan sells for roughly 50% more than in China.
Many Chinese OEMs see exports as more profitable than cars they sell domestically, where margins are paper-thin. In the first seven months of 2025, China shipped 3.68 million vehicles abroad, of which one-third were EVs, a segment that grew 84.6% from a year ago, according to the China Association of Automobile Manufacturers.
In the longer term, competition could intensify as more Chinese brands enter Southeast Asia and set up production capacity in Thailand and Indonesia, said Vincent Sun, senior equity analyst at Morningstar.
BYD began exporting EVs made in its Rayong factory to Europe in late August. The company is also constructing a USD 1.3 billion manufacturing plant in Indonesia. China's <a title="" href="https://asia.nikkei.com/business/automobiles/china-s-changan-opens-first-overseas-car-plant-in-thailand" target="_blank" rel="noopener">Chang'an</a> and GAC Motor have started production in Thailand, while SAIC-GM-Wuling already operates factories in Indonesia and Malaysia.
In response to the Chinese onslaught, Japanese car brands are shifting their strategy to focus more on manufacturing hybrid vehicles and adjusting prices, Naruedom said.
Some Japanese car manufacturers are also scaling back operations in Thailand. Honda Motor announced last year that it will cease production at its Ayutthaya plant this year, consolidating output at its Prachinburi facility. Similarly, Suzuki Motor said it will <a title="" href="https://asia.nikkei.com/business/automobiles/suzuki-to-shut-down-auto-plant-in-thailand-by-2025" target="_blank" rel="noopener">shut an assembly plant</a> by 2025 amid sluggish sales. Meanwhile, Nissan announced a <a title="" href="https://asia.nikkei.com/business/automobiles/nissan-to-cut-7-car-plants-after-massive-net-loss-of-4.5bn" target="_blank" rel="noopener">sweeping restructuring strategy</a> affecting its production in Thailand and other markets as part of the lossmaking company's turnaround plan.
However, Eugene Hsiao, head of China equity strategy at Macquarie Capital, said Japanese automakers will retain a key advantage in dealership, servicing and financing, areas that Chinese rivals cannot quickly replicate. He noted that EV market penetration in the region is still relatively small, and charging infrastructure remains insufficient for wider adoption.
"In the near-term, we believe buyers of Chinese EV are mostly early adopters with interest in tech features, rather than those looking to directly substitute mass market Japanese ICE (internal combustion engine) vehicles," Hsiao said.
Chinese car manufacturers will account for 30% of worldwide vehicle sales by 2030, with the largest growth anticipated in emerging markets such as Southeast Asia, the Middle East, Africa, and South America, according to a projection by consultancy AlixPartners in April.
Yet, the consultancy expects consolidation in the sector, projecting that only 15 of China's 129 EV brands in 2024 will remain financially viable by 2030.
Neta is an example of a struggling company. The financially stressed Chinese EV maker has slashed the number of showrooms and service centers in Thailand, its largest market, to just three from over ten, leading to complaints from owners about slow repairs, long waiting times for parts, and dealers refusing to offer services. Some dealers have also cut prices by as much as half to clear inventory, but sales failed to pick up, according to media reports.
For buyers that have bagged a bargain like Malaysia's Hor, though, what matters now is to enjoy the electric features of his Atto 3:
<blockquote>"I'm just following the trend to show off, even if I might take a loss later."</blockquote>
This article first appeared on <a href="https://asia.nikkei.com/spotlight/asean-money/chinese-ev-makers-win-southeast-asians-over-with-cut-price-deals">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Chinese EV makers win over Southeast Asians with cut-price deals

Chang'an Automobile

East Asia

SAIC Motor

Chery

Transportation

Electric Vehicles

Mobility

… payable in October.
<h3>Meituan's Q2 profit tumbles on costs</h3>
<a href="/company/meituan">Meituan</a> reported Q2 2025 revenue of RMB 91.8 billion (USD 12.85 billion), up 11.7% YoY, but profit plunged to RMB 365 million (USD 51.1 million) from RMB 11.4 billion (USD 1.6 billion). Adjusted net profit dropped 89% to RMB 1.5 billion (USD 210 million) as rising courier incentives and overseas expansion costs squeezed margins.
<h3>Zhihu posts Q2 profit while revenue falls</h3>
Zhihu reported Q2 2025 revenue of RMB 716.9 million (USD 100.4 million), down from RMB 933.8 million (USD 130.7 million) a year earlier, but swung to net income of RMB 72.5 million (USD 10.2 million) from a RMB 80.6 million loss. Adjusted net income was RMB 91.3 million (USD 12.8 million), and gross margin improved to 62.5% on AI-driven efficiency gains and lower operating costs.
<h3>Keep posts profit in H1 on AI shift</h3>
Chinese fitness app operator Keep reported RMB 822 million (USD 115.1 million) in revenue and adjusted net profit of RMB 10.35 million (USD 1.4 million) in H1 2025, reversing a RMB 167 million (USD 23.4 million) loss a year earlier. Gross margin improved to 52.2% as the company doubled down on AI-driven services and streamlined low-margin fitness equipment to focus on higher-value products. —<a href="https://finance.sina.com.cn/tech/2025-08-25/doc-infnfawy2302394.shtml?cre=tianyi&amp;mod=pchp&amp;loc=13&amp;r=0&amp;rfunc=25&amp;tj=cxvertical_pc_hp&amp;tr=12">Sina</a>
<h3>Super Hi posts mixed Q2 results</h3>
Haidilao operator Super Hi reported Q2 2025 revenue of USD 198.9 million, up 8.5% YoY on guest growth and network expansion. Same-store sales rose 5.3%, but income from operation fell 56.5% to USD 3.7 million amid rising costs. Net profit reached USD 16.4 million, reversing a loss in the same period last year.
<h3>RoboSense’s robotics revenue up 632%</h3>
RoboSense reported Q2 2025 revenue of RMB 460 million (USD 64.4 million), up 24.4% YoY, with robotics sales surging 632% to RMB 150 million (USD 21 million) on strong LiDAR demand. Gross margin rose to 27.7%, and the company expects delivery volumes to climb in Q4 amid broader AI and robotics expansion.
<h3>PDD’s profit slips as investment ramps up</h3>
<a href="/company/pinduoduo">PDD Holdings</a> reported Q2 2025 revenue of RMB 104 billion (USD 14.6 billion), up 7% YoY, driven by online marketing and transaction services. Operating profit fell 21% to RMB 25.8 billion (USD 3.6 billion), while net income dropped 4% to RMB 30.8 billion (USD 4.3 billion) as higher costs and continued investment in merchant support weighed on profitability.
<h3>Revenue up, costs stable at Dingdong</h3>
Dingdong Maicai reported Q2 2025 net income of RMB 107.2 million (USD 15 million), up 59.7% YoY, marking its sixth consecutive GAAP-profitable quarter. Revenue rose 6.7% to RMB 5.98 billion (USD 837.2 million), while non-GAAP net income reached RMB 127.8 million (USD 17.9 million) with a 2.1% margin. Gains were driven by higher user engagement, repeat orders, and robust cost control.
That wraps up this edition of China Recap. If your company is expanding internationally, we’d love to hear about your latest milestones. <a href="mailto:changweiqian@global.36kr.com">Get in touch</a> to share your story.

China Recap | Growth and strain

… https://console.kr-asia.com/wp-content/uploads/2025/08/XTransfer-TradeVision-Summit-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/08/XTransfer-TradeVision-Summit-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/08/XTransfer-TradeVision-Summit-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-157007" class="wp-caption-text">XTransfer’s 2025 TradeVision Summit proved to be a lively affair, drawing more than 3,000 attendees. Photo courtesy of the company.</figcaption></figure>
<h3>Charting a “digital Silk Road”</h3>
Through a strategy that combines deepening presence in emerging markets, pioneering AI-driven compliance, and laying out a new vision for global B2B settlement with X-Net, XTransfer seeks to position itself as a critical bridge for the next phase of globalization.
Africa in particular stands out. According to the <a href="https://afdb.africa-newsroom.com/press/africas-financial-sovereignty-mobilizing-institutional-capital-for-development-and-resilience?lang=en">African Development Bank</a>, the continent currently faces an infrastructure funding gap of USD 68–108 billion per annum. This mismatch underscores the demand Deng described as a “new blue ocean” for SMEs.
For Deng, the significance also goes beyond payments. He reminded attendees that trade is also about services, culture, and resilience. From Chinese companies building factories abroad to the global success of cultural exports like toys and video games, the meaning of “going global” is evolving.
In that sense, the TradeVision Summit was not only about tariffs and payments, but about charting what Deng called a “new beginning” for SMEs in China and beyond.
“Our mission has never wavered,” Deng said. “To make financial services accessible to SMEs worldwide.”
This article was published in partnership with <a href="https://www.xtransfer.cn/">XTransfer</a>.

XTransfer maps a “digital Silk Road” for exporters at 2025 TradeVision Summit

Fintech

Payments

Hong Kong

Events

… emergency medical aircraft. In logistics, EVT is working with delivery firms in mountainous and island regions. In emergency services, it has reportedly signed 30 provisional orders for medical aircraft, including with hospitals in the Yangtze River Delta region. For tourism, EVT has signed an agreement with scenic operators for 50 aircraft and plans to open a cross-mountain sightseeing route in 2026.
Looking ahead, EVT intends to make its EPS system available to third-party manufacturers in 2026. Two Chinese enterprises have already expressed interest in procurement.
Ren previously served as a senior systems engineer on COMAC’s C919 program. The team includes four senior researchers and several contributors to Y-8 aircraft development, with an average aerospace tenure of more than 15 years. EVT applies a model-based systems engineering approach, using the RFLP (requirements, functional, logical, physical) framework to integrate aircraft development.
<h3>Investor perspectives</h3>
<ul>
<li aria-level="1">GP Capital said China’s low-altitude economy is emerging as a growth sector and cited EVT’s aerospace expertise and end-to-end eVTOL capabilities as reasons for investment.</li>
<li aria-level="1">Jinggong Technology said its participation aligns with its role in carbon fiber equipment and composites, and it plans to support EVT in scaling production and lowering costs through automation.</li>
<li aria-level="1">Empower Electric said EVT’s product development pace and technical depth were key factors in its decision. It intends to co-develop integrated motor-control units with EVT.</li>
<li aria-level="1">Deep Blue Partners’ Zhang Zhiyuan described EVT as one of the few eVTOL developers with in-house propulsion R&amp;D, a localized supply chain, and certification expertise backed by China’s aerospace sector. He said EVT had achieved one of the fastest development timelines from launch to first flight in the industry and noted the firm’s cost efficiency. Deep Blue said it will support EVT’s long-term capital market strategy.</li>
</ul>
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3442138964989573">article</a> was written by Lin Qingqing for 36Kr.

China’s EVT Aerotechnics challenges global rivals with ET9 eVTOL program

eVTOL Aircraft

<a href="/company/tencent">Tencent</a>, China's top game developer, is expanding overseas for long-term growth amid a stagnating home market, seeking more foreign players for its own games alongside heavy investment in other intellectual properties.
The risks of the company's reliance on its home market were underscored in an unusual trial on August 12 in Shenzhen, revolving around Tencent's Honor of Kings, the world's top-grossing mobile game. Launched in 2015, Honor of Kings is still going strong, bringing in roughly USD 1 billion between January and June, according to US-based AppMagic.
In the game, players are matched up together to battle opponents. The plaintiff claimed that this service is manipulated to pair people on winning streaks with weaker players, and demanded that Tencent disclose the algorithm. The company refused, citing the risk that the information could be abused.
Tencent's game business generates about 30% of its revenue, with around two-thirds of that coming from China, thanks to titles like Honor of Kings. If the court rules that the matchmaking algorithm was manipulated to break winning streaks, and fans shun the game, it would deal a heavy blow.
Long-running games like Honor of Kings are a major driver of April-June earnings released on August 13, which showed group revenue growing 15% on the year to RMB 184.5 billion (USD 25.8 billion) and net profit rising 17% to RMB 55.6 billion (USD 7.8 billion).
Though the company has been coming out with a slew of new games, it still has yet to find a successor to Honor of Kings, a key challenge to ensure sustainable growth.
Sensor Tower's June mobile game revenue ranking for China was led by Honor of Kings, followed by PUBG Mobile, also published by Tencent. Dungeon &amp; Fighter Mobile and Delta Force, which came out last year, ranked eighth and ninth, respectively.
Chinese research firm Gamma Data has noted a rise in new releases. Chinese regulators approved the release of about 810 games in the first half of this year, around 20% more than a year earlier, in what may be a bid to revitalize the market.
The total number of gamers, however, sits at about 679 million, not much changed from a few years ago. Tencent executives have said for some time that they want more than half their game revenue to come from outside China.
So far, Tencent has prioritized acquiring big IPs overseas and launching them in China, where it can leverage its established base. That strategy was supported by a fast-growing domestic market. Now that it is becoming saturated, the company aims to use popular IP to expand globally.
In March, Tencent reached a deal to take a 25% stake in a new subsidiary of French publisher Ubisoft for popular franchises such as Assassin's Creed and Far Cry. In June, speculation resurfaced about a possible acquisition of Japan's Nexon, which produced Dungeon &amp; Fighter Mobile.
In addition to this aggressive investment strategy, Tencent is also working on making games tailored to local markets, which do not incur the licensing fees that come with tapping the IPs of its investees.
Its Level Infinite brand, based in Singapore and the Netherlands, handles global publishing of games produced by Tencent-affiliated developers. The company is working to localize its games to make them more appealing to particular markets.
Competition overseas is intense. Sensor Tower's list of the 10 top-grossing mobile games in Japan in June included Whiteout Survival from China-based Century Games. Games from Chinese developer Mihoyo, best known for Genshin Impact, also ranked high, but no Tencent titles were present.
Mihoyo's strategy has focused on the global market since it was established in 2012. The company earns more than half its revenue outside China, according to Chinese media, compared with around 30% for Tencent.
Dealing with concerns about IP rights will be a must for Tencent to succeed abroad. Sony Group recently sued the company, alleging that a game it was developing imitated Sony's Horizon series.
This article first appeared on <a href="https://asia.nikkei.com/business/media-entertainment/tencent-s-game-arm-looks-to-its-own-ip-for-more-growth-beyond-china">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Tencent's game arm looks to its own IP for more growth beyond China

Gaming

Creative

… annually. Smart industrial robots, Seer’s focus, are expected to grow from RMB 22 billion (USD 3.1 billion) in 2024 to RMB 115 billion (USD 16.1 billion) in 2029, at a 39.2% annual rate.
&lt;iframe class="flourish-embed-iframe" style="width: 100%;" title="Interactive or visual content" src="https://flo.uri.sh/visualisation/24787920/embed" frameborder="0" scrolling="no" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"&gt;&lt;/iframe&gt;
<h3>Standard Robots</h3>
Founded in 2016 and headquartered in Shenzhen, Standard Robots is among the largest providers of smart industrial AMR solutions. By shipment volume in 2024, it ranked second in the 3C segment, second in automotive, and fifth in semiconductors, according to CIC.
Nearly 90% of its revenue comes from customized industrial mobile robot solutions. Its primary customers are manufacturers deploying robots directly on production lines, though it also works with system integrators to expand reach. Most of its revenue still comes from mainland China.
The company began overseas expansion in 2019, first entering Japan. Since then, it has added clients in Vietnam, Thailand, and other regions. Overseas revenue contributed 10.2% of total revenue in 2022, 12.5% in 2023, and 24.1% in 2024.
Standard Robots invests heavily in R&amp;D. It allocated 33.5%, 32.8%, and 29.5% of revenue to R&amp;D in 2022, 2023, and 2024, respectively. Its efforts focus on operating systems, core algorithms, and its proprietary RoboVerse system, while also exploring embodied robotics and <a href="/industry/ai">artificial intelligence</a>.
On June 23, the company filed for a Hong Kong main board listing. Funds raised will support further development of these initiatives.
CIC projects that the intelligent mobile robotics market will grow from RMB 15.3 billion (USD 2.1 billion) in 2024 to RMB 81.4 billion (USD 11.4 billion) in 2029, at a compound annual rate of 39.8%.
<div class="embed-container"><iframe src="https://flo.uri.sh/visualisation/24787932/embed" frameborder="0" allowfullscreen> frameborder="0" scrolling="no" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe></div>

Chinese AMR firms line up Hong Kong IPOs to test investor appetite

Robotics

On August 27, Zong Fuli submitted a formal complaint to China’s Supreme People’s Court and Supreme People’s Procuratorate, requesting expedited handling of a shareholder dispute involving the employee shareholding committee’s 24.6% stake in Hangzhou Wahaha Group. She has asked for a lawful and fair resolution to protect the company’s interests and settle the matter equitably.
The dispute stems from events following the death of her father, Zong Qinghou. Several retired and former employees have contested the terms of repurchase agreements they signed in 2018, bringing their objections to court. Wahaha’s legal team said all 2018 buybacks were executed with signed agreements, video records, and verified payments from both the group and the employee shareholding committee. The company maintains the plaintiffs’ claims lack factual and legal basis.
A former Wahaha employee told 36Kr that after Zong assumed control of the company, she required staff to amend their labor contracts under the Hongsheng Group umbrella. This led to a collective lawsuit from some former employees, who objected to both the buyback prices and the contract changes. Public records show the case entered judicial proceedings in September 2024.
According to one former employee, the 2018 buyback was not the first time Wahaha repurchased employee shares, but he described that instance as “forced.”
<blockquote>“In 2018, the company repurchased shares from employee shareholding committee members at RMB 2.1 (USD 0.3) per share after tax. Many long-serving sales staff and regional managers left as a result. While Zong Qinghou was still alive, people didn’t raise the issue publicly due to his authority. But Zong Fuli failed to manage relations with veteran employees. When sales got tough and even base salaries were being clawed back, things reached a breaking point.”</blockquote>
Speaking to 36Kr, Dong Yizhi, a lawyer with Joint-Win Partners in Shanghai, said Wahaha’s partial roots in state-owned enterprise reform make this a sensitive legacy issue:
<blockquote>“Legally speaking, employees in a shareholding committee have the right to assert their claims, but ultimately, the courts must determine the validity of those rights.”</blockquote>
Corporate data platform Aiqicha lists Wahaha Group’s shareholders as Zong Fuli (29.4%), the Shangcheng Investment Holding Group in Hangzhou (46%), and the employee shareholding committee (24.6%).
A Jiemian News report cited Wahaha’s legal team as saying that the group’s grassroots union committee still lists only Zong as its sole representative, and that a business registration change remains incomplete due to ongoing litigation.
In August, the Hong Kong High Court issued an injunction in a separate case involving a family trust dispute between Zong and her three siblings. The ruling barred her from withdrawing or transferring funds from Jian Hao Ventures’ HSBC account in Hong Kong. The restriction will remain until the Hangzhou Intermediate People’s Court and Zhejiang High People’s Court issue final judgments.
Wahaha’s legal counsel emphasized that the case brought by Du Jianying, mother of the three siblings, at the Hangzhou court does not involve Wahaha Group shares. The 29.4% stake previously held directly by Zong Qinghou was fully inherited by Zong Fuli under a notarized will, and that transfer has already been registered.
The outcome of the equity dispute could determine whether Zong ultimately becomes Wahaha Group’s largest shareholder.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3441232471627394">article</a> was written by Xie Yunzi for 36Kr.

Wahaha heiress takes shareholder fight to China’s top court