On August 1, Founder Motor (002196. SZ) changed hands and returned to the seal to increase the limit again, achieving 3 consecutive boards.
Because of the concept of robots, Founder Motor has recently been favored by the market. Zhejiang Fangde Robot Joint Technology Co., Ltd., which was previously established by the company, is mainly engaged in the research and development, production and sales of robot joints.
According to the latest report released by Omdia, global humanoid robot shipments are expected to exceed 10,000 units by 2027 and reach 38,000 units by 2030. This represents a CAGR of 83% from 2024 to 2030. The rapid development of the robot industry has made the market place high hopes on robot concept stocks such as Fang Zheng Motor.
Continue to explore the market and harvest a number of project designations
According to the official website, Founder Motor's main business is the R&D, production and sales of sewing machine application products, automotive application products (including new energy vehicle drive motors, supporting motors, powertrain control products) and intelligent controllers.
After years of technology accumulation and precipitation, Founder Motor has gradually taken a leading position in the market in many fields such as new energy vehicle drive assembly, automotive engine control system, micro motor and controller. The company's multi-functional household sewing machine motors can achieve an annual output of 4 million sets, and the global market share reaches 75%.
NE Times data shows that from 2020 to 2023, Founder Motor's new energy vehicle drive motor shipments ranked third, second only to BYD, Tesla and other OEMs that supply their own drive motors. Diesel engine, natural gas engine and exhaust after-treatment controller are the only independent brands independently developed and supported in large quantities in China, which can directly replace the products of foreign giants such as Bosch and Delphi.
Based on the advanced technology and the stability and reliability of the products, Founder Motor has frequently received project designation letters from suppliers in recent years, and has won the trust of more and more customers.
In May 2024, Founder Motor disclosed that the company received a notice from a customer to become a supplier of parts such as stator and rotor assemblies for drive motors of a certain model of Xpeng Motors. The project is expected to start mass production and supply in the third quarter of 2025, with a total demand of about 350,000 units within five years.
In September last year, Founder Motor announced that its wholly-owned subsidiary, Founder Deqing, had become a stator and rotor assembly supplier for an electric drive project of a well-known domestic new energy vehicle customer. The project is expected to start mass production and supply by the end of 2024, with a total demand of about 7.5 million units within a nine-year life cycle. Three months ago, Founder Deqing also became a stator and rotor assembly supplier for an electric drive project of Li Auto. The project is expected to start mass production and supply in 2024, with a total demand of about 1.89 million units over its life cycle.
According to the company's 2023 annual report, Founder Motor's new energy drive motor series products have established supporting cooperative relations with a number of domestic leading traditional independent brand OEMs, new EV manufacturers and international Tier1 customers, including Geely Automobile, Chery Automobile, SAIC Group, SAIC-GM-Wuling, Honeycomb Transmission, Weiran Power, Xiaopeng Motors, Li Auto, etc.
The continuous increase in orders also provides strong support for the improvement of Founder Motor's performance. In 2023, the company will achieve revenue of 2.496 billion yuan, a year-on-year increase of 7.09%; The net profit attributable to the parent company was about 100 million yuan, a significant increase of 143.29% year-on-year. In addition, Founder Motor's operating income also maintained a good trend of increasing year by year. From 2020 to 2023, the company's revenue will be 1.128 billion yuan, 1.891 billion yuan, 2.331 billion yuan, and 2.496 billion yuan respectively.
Robot joint products have been sent to the customer
On the basis of steadily advancing the existing business, Founder Motor is also striving to expand other businesses, such as the robot business.
Founder Motor announced in June last year that the company plans to jointly invest in the establishment of "Zhejiang Fangde Robot Joint Technology Co., Ltd." with Deqing Yuanfang Management Consulting Partnership, with Founder Motor accounting for 60% of the registered capital. The joint venture will focus on the development, production and sales of robot joints.
In April this year, Founder Motor revealed on the interactive platform that the company has customers who have sent samples of robot joint products. In less than a year, Founder Motor's robot product research and development has made good progress.
In recent years, Founder Motor has continued to increase R&D investment and made new breakthroughs in new product research and development. In 2023, the company's affiliated Academia Sinica will be awarded the title of Foreign Academician Workstation and Provincial New R&D Institution, with an annual R&D investment of more than 190 million yuan.
In fact, the focus of this market hype is precisely on the concept of robots. On July 31, it was reported that the Ministry of Industry and Information Technology issued the "Industrial Robot Industry Standard Conditions (2024 Edition)" and the "Industrial Robot Industry Standard Conditions Management Implementation Measures (2024 Edition)". The new version of the document will be implemented from August 1, 2024. The continuous release of favorable policies will undoubtedly inject new impetus into the development of the industry.
Previously, on July 25, Shanghai issued the "Shanghai Action Plan for Promoting the Upgrading of Industrial Service Industry (2024-2027)", which proposed that Shanghai should create a national humanoid robot manufacturing innovation center, and create a number of humanoid robot-enabled manufacturing application scenarios in the fields of automobiles, electrical equipment production and parts processing, and form robot production solutions.
Stimulated by the news, the robot concept became one of the sectors that rebounded in resonance with the index on July 31, so it also received more attention from the market. In terms of individual stocks, Founder Motor's performance is the strongest, and the stock has gained 3 consecutive daily limits. As of noon on August 1, Founder Motor rose 9.98% to 5.4 yuan per share.
The market space is broad, and the future is expected to be good
Recently, China's robot industry is ushering in a wave of vigorous development. Driven by favorable policies and technology giants, domestic leading enterprises have increased investment in the field of robotics, and at the same time accelerated the independent research and development of key technologies. The large-scale investment of leading enterprises not only demonstrates the confidence of leading enterprises in the prospects of the robot industry, but also further promotes the rapid development of the industry.
In addition to the active layout of domestic enterprises, international giants are also contributing to the development of the robot industry. NVIDIA will provide a complete set of services, models and software platforms for the world's leading robotics manufacturers to develop and train the next generation of humanoid robots. Tesla Musk said that it is expected that the second-generation humanoid robot Optimus will be produced in limited quantities from 2025 and mass-produced and delivered in 2026.
According to Omdia's latest research report, global humanoid robot shipments are expected to exceed 10,000 units by 2027 and reach 38,000 units by 2030. The Institute of High-tech Robot Industry predicts that the global humanoid robot market is expected to reach 20 billion US dollars in 2030, and the market space is broad.
According to the analysis of Shanghai Securities, the humanoid robot industry chain is in the stage of accelerating from "0" to "1", and 2024 is the first year of commercialization of humanoid robots.
The robot joint products that Founder Motor focuses on are an important part of humanoid robots and the core part of the industrial chain of humanoid robots. It should be noted that the current domestic parts manufacturers in the core parameters have been close to the international level, and the cost performance advantage is obvious, the future of domestic industrial chain enterprises are expected to rely on the development of humanoid robots, to achieve a breakthrough in high-end products, such as Founder Motor and other technology research and development advantages, comprehensive competitiveness of enterprises are expected to benefit.
From the perspective of the extended cycle, the robot industry chain is expected to become the direction of long-term benefits, and the hype of the concept of robots may not stop for the time being, and related high-quality enterprises can still pay attention to the dip.