Analysis of R&D Input-Output for iSoftStone's Embodied Intelligent Robot Business

iSoftStone (Stock Code: 301236.SZ) has positioned embodied intelligent robots as its core strategic product, which is a strategic move to respond to the dramatic changes in the industrial model of software and digital technology services and the new opportunities brought by artificial intelligence technology [1][2]. In 2024, focusing on the four development directions of “intelligence, autonomy, greenization, and internationalization”, the company clearly identified embodied intelligent robots as an important strategic direction, fully integrating its advantages in artificial intelligence to promote the large-scale application of humanoid robots in real scenarios such as industry and households [1].

• Industrial Opportunity Seizure
  : According to the “Humanoid Robot Industry Research Report”, the market size of humanoid robots in China is expected to reach 75 billion yuan in 2029, accounting for 32.7% of the global market; by 2035, the market size is expected to reach 350 billion yuan [1]
• Capability Synergy
  : Integrating the company’s long-term accumulated capabilities in software technology services, robot OS, hardware R&D, multimodal large models, industry models, etc.
• Business Model Innovation
  : While selling embodied intelligent robot products, it provides new technical services such as industrial process replacement and professional service labor replacement for customers through the mode of operating self-owned embodied intelligent robots [2]

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iSoftStone has built a multi-level R&D system in the field of embodied intelligent robots:

R&D Institution	Positioning	Partner
Robot Research Institute	Continuous research on core software and hardware of humanoid robots	Self-built
AI PC Research Institute	Integration of intelligent terminals and AI technology	Self-built
iSoftStone Tianhui Special Robot Laboratory	Operation control, environmental perception, task recognition in special environments	Beijing BIT Huahui Intelligent Technology
Embodied Intelligent Mechanical Arm Laboratory	Joint development of composite robot mechanical arms	Reeman Intelligent Technology (Beijing)
Construction Survey Composite Robot R&D	Survey application in the construction field	Team of Chongqing Jiaotong University

According to the annual report, iSoftStone’s R&D investment focuses on six key areas [1][2]:

1. AI Large Model
   : Iterative upgrade of the Tianxuan Large Model Service Platform
2. Embodied Intelligent Robot
   : R&D of the Xingyun Embodied Intelligent Computing Platform
3. OpenHarmony
   : Launch of Tianhe OS V24, the first to achieve interconnection with HarmonyOS NEXT
4. OpenEuler
   : Basic software ecosystem construction
5. OpenGauss
   : Breakthrough in the database field
6. Intelligent Computing Platform
   : Launch of DenovoX Tianyuan Intelligent Computing Service Platform

:

• On December 31, 2024, iSoftStone jointly established
  Jiangsu iSoftStone Tianqing Robot Technology Co., Ltd.
  with DeepRobotics and others, with iSoftStone holding a direct stake of 65% [1]

:

• In July 2024, it signed a strategic cooperation agreement with DeepRobotics, targeting diversified application scenarios such as interactive services, flexible intelligent manufacturing, special operations, scientific research education, and data collection [1]
• In September 2024, it jointly established the iSoftStone Tianhui Special Humanoid Robot Laboratory with Beijing BIT Huahui Intelligent Technology Co., Ltd., and released the first special humanoid robot concept machine [1]

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Product Name	Type	Application Scenario	Core Function
iSoftStone Tianqing AD01	Wheeled Robot	Industrial Flexible Manufacturing	High-risk labor replacement, data collection service
iSoftStone Tianqing LC01	Bipedal Humanoid Robot	Exhibition Hall/Museum/Scientific Research Education	Public service, commercial service, university talent training
iSoftStone Tianqing LA01	Full-size Bipedal Humanoid Robot	Large Public Exhibition Hall	Professional explanation and intelligent Q&A
iSoftStone Tianhui Inspection Composite Robot	Composite Robot	Industrial and Agricultural Equipment Inspection	All-day detection, emergency disposal
Survey Composite Robot	Composite Robot	Underwater and Pipeline Complex Scenarios	High-precision geographic information collection, disease identification
Setting-out Composite Robot	Composite Robot	Construction Manufacturing Field	High-precision automated setting-out operation

Platform/System	Function Positioning	Technical Features
Xingyun Embodied Intelligent Computing Platform	Embodied intelligence underlying platform	Deep integration of Tianhe OS and Xingyun Robot Intelligent OS
Tianhe Operating System	Robot OS	Independently developed, supports multi-scenario generalization
Tianxuan Large Model Service Platform	AI capability support	Supports multimodal perception, autonomous learning, planning and decision-making
Xingyun Embodied Application Development Platform	Development toolchain	Model fine-tuning customization, low-code development, shortening development cycle
Tianhui Phyxis Embodied Intelligent System V1.0	Embodied intelligent system	Integrates key technologies such as visual large model, voice interaction control, task understanding and orchestration
Big-Small Brain Algorithm	Motion control	Model inference algorithm and reinforcement learning robot skill library

:

• Applied for
  53 invention patents
  to form technical barriers [2]

:

• Participated as a core initiating member in the “Fujian Artificial Intelligence Independent Innovation Consortium”
• Participated in compiling the group standard “MaaS Model as a Service Technology and Application Requirements Part 4: Model Service Platform” [2]

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Dimension	Characteristic	Evaluation
Time Dimension	Strategic layout launched in 2024	In the early input stage; R&D investment has not yet been fully reflected in performance
Scale Dimension	Multi-institution simultaneous construction	Wide coverage of investment, but specific amount not disclosed separately
Technology Dimension	Focus on core technologies of embodied intelligence	Formed a complete technology stack from large models to operating systems to hardware
Ecosystem Dimension	Joint venture cooperation + strategic investment	Leveraged industrial chain resources with low capital investment

Dimension	Characteristic	Evaluation
Productization Speed	Developed 6 products within 1 year	High R&D efficiency, quickly established product matrix
Patent Density	53 invention patents	About 9 patents per product on average, forming basic protection
Ecosystem Synergy	Deeply bound with DeepRobotics	Built a moat through dual bonds of capital and business
Commercialization Progress	Launched the first product in January 2025	Just entered the initial stage of commercialization

:

1. Strategic Focus
   : Positioned embodied intelligent robots as core strategy, concentrating resource investment
2. Ecosystem Layout
   : Reduced independent R&D risks and accelerated technology iteration through joint ventures and cooperation
3. Complete Product Matrix
   : 6 products cover multiple scenarios such as industry, education, inspection, and survey
4. Complete Technology Stack
   : Formed a closed loop from underlying OS to embodied intelligent large models to specific products

:

1. Non-transparent Investment Amount
   : No separate disclosure of R&D investment in embodied intelligent robot business, making it difficult to accurately calculate input-output ratio
2. Initial Commercialization
   : Products just released, no large-scale revenue yet
3. Intense Competition
   : Deeply bound with DeepRobotics, but also means technical and market dependence
4. Insufficient Market Validation
   : Industrial scenario applications are still in the pilot stage

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iSoftStone’s embodied intelligent robot business is in the

, with R&D investment showing characteristics of “multi-dimensional, high efficiency, and ecologicalization”. Although the specific R&D investment amount is not disclosed separately, from the output achievements, the company has completed the full layout from technical platform construction to product matrix building in a short time, reflecting strong R&D execution and resource integration capabilities.

:

• Short-term (1-2 years)
  : Low input-output ratio, still in the large-scale investment stage
• Mid-term (3-5 years)
  : With product commercialization and deepened ecosystem synergy, the input-output ratio is expected to improve significantly
• Long-term (over 5 years)
  : The embodied intelligent robot market has broad space; if the technical route is correct, it is expected to achieve high input-output ratio

1. Technology Development Less Than Expected
   : Emerging technologies such as AI large models and humanoid robots are still in the development process, with uncertainties [1]
2. Downstream Customer Expenditure Less Than Expected
   : Downstream customers’ expenditure in AI and other fields will affect the company’s robot business development [1]
3. Increased Competition Risk
   : More players in the embodied intelligent robot track, increasing competitive pressure
4. Commercialization Landing Difficulties
   : Industrial scenario applications face challenges such as technical maturity and cost control

For investors concerned about iSoftStone’s embodied intelligent robot business, it is recommended to focus on the following indicators:

• Independent revenue data of the embodied intelligent robot business in subsequent annual reports
• Operating status of the joint venture Jiangsu iSoftStone Tianqing Robot Technology Co., Ltd.
• Patent authorization progress and product commercialization order status
• Deepening of cooperation with ecological partners such as DeepRobotics

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[1] BOC Securities - “Overweight iSoftStone” Research Report (https://pdf.dfcfw.com/pdf/H3_AP202503141644367681_1.pdf)

[2] iSoftStone 2024 Annual Report Summary (https://file.finance.qq.com/finance/hs/pdf/2025/04/26/1223318952.PDF)

[3] iSoftStone Official Website - 2024 Annual Report Interpretation (https://www.isoftstone.com/zh-cn/htmls/news/20250425/1915759289919991808.html)

[4] Eastmoney.com - iSoftStone Individual Stock Data (https://data.eastmoney.com/stockdata/301236.html)