Zhiyuan Robotics acquires Shangwei New Materials for RMB 2.1 billion

Zhiyuan Robotics recently announced that it would acquire Shangwei New Materials, a manufacturing company that has been deeply involved in the fields of wind turbine blade materials and environmental protection and anti-corrosion materials for many years, for RMB 2.1 billion. The acquisition marks the shift of competition in the humanoid robot industry from the cloud competition of algorithms and models to the ground war of supply chain and materials science. Zhiyuan Robotics was founded in 2023 by Deng Taihua, former vice president of Huawei, and Peng Zhihui, a "genius boy" of Huawei. In less than two and a half years since its establishment, Zhiyuan Robotics has completed nine rounds of financing, with a cumulative financing amount of tens of billions of yuan and a valuation of over 15 billion yuan.