Strategic Analysis of Robam Appliances' Capital Increase in UTcook

Based on the information I have collected, I now provide you with an in-depth analysis report on Robam Appliances’ strategic investment in UTcook.

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On January 12, 2026, Robam Appliances (002508.SZ) issued an announcement stating that the company, together with UTcook International Holdings Limited, its actual controller JIN XIAO, and its domestic operating entity Zhuhai UTcook Technology Co., Ltd., signed the “Investment Cooperation Intent Letter”, proposing to make a RMB 100 million cash capital increase [1][2]. This investment aims to promote technological innovation and ecological integration in the smart kitchen appliance industry. The two parties will establish in-depth strategic cooperation in smart kitchen appliance technology, product R&D, supply chain, and market channels to jointly deepen the smart cooking robot niche market [2][3].

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Zhuhai UTcook Technology Co., Ltd. is positioned as a

, with core businesses including:

• Product Positioning
  : Targeting
  B-end scenarios
  such as restaurant chains, school canteens, and central kitchens
• Technology Focus
  : Automated cooking solutions, covering R&D and sales of smart cooking robots
• Target Customers
  : Large-scale catering operators such as group meal enterprises, chain catering brands, and institutional canteens

According to data from the World Smart Cooking Robot Industry Development Report, the niche market where UTcook operates is in an explosive growth stage. The market size of China’s cooking robots reached

in 2024, is expected to exceed in 2025, and is projected to soar to by 2030 [4][5].

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2025 is hailed as the

[6]. This judgment is based on the following market driving factors:

Driving Factor	Specific Performance
Rising Catering Labor Costs	Chef salaries continue to rise, putting labor cost pressure on enterprises
Controversy over Pre-made Dishes	Consumers’ demand for “freshly cooked” food is increasing, making smart cooking robots a compromise solution
Demand for Standardization	Chain catering expansion requires standardized cooking output to ensure consistent taste
Improved Technological Maturity	Technical bottlenecks such as AI algorithms, temperature control technology, and feeding accuracy are gradually being broken

According to forecasts from industry research institutions, the penetration rate of cooking robots in different catering scenarios will show a gradient distribution [5]:

• Group meal and fast food sectors
  : The penetration rate is expected to reach
  50%
  by 2028
• Heavy-flavor cuisines such as Hunan and Sichuan
  : Penetration rate is about
  35%-45%
• Fine cuisines such as Cantonese and Zhejiang
  : Relatively low penetration rate

The current smart cooking robot market has formed a multi-level competitive landscape:

• Zhigu Tianchu
  : A leading enterprise in the industry, won the
  industry’s largest order of RMB 150 million
  in 2024, and is expected to exceed
  RMB 300 million
  in order value by 2026 [7][8]
• Tineco (subsidiary of Ecovacs)
  : Layouts both commercial and household markets, with household products priced in the range of RMB 2,390-6,990 [6]

• Midea
  : Launched the “Meishan Lion” cooking robot, which has been applied in JD’s “Seven Fresh Kitchen” stores [6]
• Fotile
  : Released the AI Healthy Cooking System Healthy CookingGPT [9]
• Robam Appliances
  : Upgraded the “Shishen AI Large Model”; this investment in UTcook is an important extension of its smart kitchen appliance strategy [9]

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The strategic cooperation between Robam Appliances and UTcook has multiple synergy potentials:

Synergy Dimension	Robam Appliances’ Resources	UTcook’s Resources	Synergy Effect
Technology R&D	Shishen AI Large Model, accumulated smart kitchen appliance technologies	R&D capabilities of cooking robot hardware	Integration of AI algorithms and hardware to create a “cooking brain”
Brand and Channels	Leading position in the kitchen appliance industry, nationwide channel network	B-end catering customer resources	Brand endorsement + channel empowerment to accelerate market penetration
Supply Chain	Large-scale manufacturing capabilities, supplier resources	Modular product system	Supply chain integration to reduce production costs
Market Expansion	Advantages in C-end household kitchen scenarios	Advantages in B-end catering scenarios	Full-scenario coverage of “household + commercial”

From Robam Appliances’ perspective, the strategic intent of this investment can be interpreted from the following aspects:

The current smart cooking robot market is in a critical transition stage from “usable” to “user-friendly” [8]. Through investment, Robam quickly acquires technical capabilities and market resources, avoiding the time cost of independent R&D, .

Robam has deep accumulation in the C-end household kitchen market, while UTcook focuses on B-end catering scenarios. The combination can achieve:

• Technology Reuse
  : Cooking algorithms and seasoning systems for household and commercial scenarios can be mutually verified and optimized
• Data Accumulation
  : Cooking data from different scenarios feeds back into AI model training
• Ecosystem Closure
  : Full-scenario coverage from household kitchens to commercial kitchens

The kitchen and bathroom industry as a whole faces growth pressure. Although the national subsidy policy continues to take effect in 2025, industry reshuffling is accelerating [10]. The new category represented by smart cooking robots provides Robam with a .

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• ✅ Acquire commercial smart cooking robot technologies and market resources
• ✅ Enhance exposure and brand influence in the B-end catering market
• ✅ Valuation premium from the capital market for the smart home track

• ⚠️ The effect of investment integration remains to be observed; team stability needs attention
• ⚠️ The RMB 100 million investment scale is relatively small compared to Robam’s size (accounting for about 1.4% of the first three quarters of 2025’s revenue), with limited short-term performance contribution

• If the integration goes smoothly, Robam will form core capabilities of
  “AI algorithms + smart hardware + scenario data”
• Compared with competitors such as Fotile and Midea, the differentiated positioning in the smart cooking field will be clearer
• The breakthrough in B-end catering scenarios is expected to drive the improvement of awareness in the C-end household market

According to Zhigu Tianchu’s development trajectory (an 8-person sales team drove RMB 150 million in orders) [8], latecomers with technological and channel advantages still have the opportunity to quickly seize market share. If Robam can effectively integrate UTcook’s resources, it is expected to .

• Smart cooking robots are
  an important landing carrier of embodied intelligence in consumer scenarios
  [11]
• With the maturity of “catering embodied brain” technology, smart cooking robots will upgrade from “tools” to “intelligent agents”
• Through early layout, Robam lays a technical foundation and data accumulation for future competition

• Home appliance companies face the risk of “technological acclimatization” when cross-bordering into robots [11]
• The robot technical route has not yet been finalized, and there may be risks of technical route selection errors
• The speed of cost reduction affects the popularization progress of the commercial market

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According to public data, in the first three quarters of 2025, Robam Appliances achieved:

• Operating Revenue
  : RMB 7.312 billion
• Net Profit Attributable to Shareholders
  : RMB 1.157 billion

Assessment of the financial impact of the RMB 100 million investment:

Indicator	Calculation	Evaluation
Investment/Revenue Ratio	1.37%	The proportion is small, which does not affect the main business operation
Investment/Net Profit Ratio	8.64%	Belongs to a reasonable investment range for new business exploration
Funding Source	Not disclosed	Expected to use self-owned funds, with limited impact

• If UTcook’s orders reach a scale similar to Zhigu Tianchu’s RMB 300 million in 2026, based on the industry average gross profit margin, the net profit contribution is expected to be about RMB 30-45 million
• The investment payback period is expected to be 3-4 years, with good long-term return potential

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• Uncertainty exists regarding the stability of UTcook’s team
• Cultural differences may affect collaboration efficiency

• Uncertainty exists in the technical route of smart cooking
• AI algorithm iteration requires continuous investment

• The penetration speed of commercial smart cooking robots may be lower than expected
• Intensified competition may compress profit margins

• Changes in catering industry regulatory policies may affect demand

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Robam Appliances’ RMB 100 million capital increase in UTcook is a

with the following characteristics:

Evaluation Dimension	Judgment
Strategic Timing	⭐⭐⭐⭐⭐ Entering in the first year of cooking robots, the timing is appropriate
Investment Scale	⭐⭐⭐ Moderate, which can have a substantial impact without excessive risk
Synergy Potential	⭐⭐⭐⭐ Synergy between household and commercial scenarios, with ecological value
Long-term Value	⭐⭐⭐⭐ Positioning in the embodied intelligence track, laying a foundation for future competition

Limited impact on performance, but the capital market will give positive feedback, and the stock price is expected to receive support from the smart home concept.

If the integration goes smoothly, Robam is expected to occupy an important position in the commercial smart cooking robot market and form a differentiated competitive advantage.

As a landing carrier of embodied intelligence in kitchen scenarios, smart cooking robots are expected to become a key fulcrum for Robam’s transformation from a “kitchen appliance enterprise” to a “smart cooking ecosystem platform”.

• Focus on Integration Progress
  : Key track the team stability and order acquisition of UTcook
• Observe Technology Implementation
  : Focus on the integration progress of the “Shishen AI Large Model” and cooking robot hardware
• Track Market Penetration
  : Monitor the penetration speed of commercial smart cooking robots in the catering industry

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[1] Eastmoney - Robam Appliances Plans to Invest RMB 100 Million in UTcook to Focus on the Smart Cooking Robot Market (https://finance.eastmoney.com/a/202601123615957026.html)

[2] Securities Times - Plans to Invest RMB 100 Million in UTcook to Jointly Deepen the Smart Cooking Robot Market (https://www.stcn.com/article/detail/3587987.html)

[3] National Business Daily - Robam Appliances: Plans to Invest RMB 100 Million in UTcook to Jointly Deepen the Smart Cooking Robot Niche Market (https://www.nbd.com.cn/articles/2026-01-12/4216828.html)

[4] Weike Robot - “Dark Horse” Smart Cooking Robot from Shenzhen Secures Tens of Millions in Financing! (https://finance.sina.com.cn/roll/2025-12-17/doc-inhccfvz2156349.shtml)

[5] OFweek AI Network - Smart Cooking Robots Are Booming; 30,000 Restaurants Have Deployed Them, Only One Step Away from Entering Home Kitchens (https://m.ofweek.com/ai/2025-12/ART-201717-8420-30676679.html)

[6] 36Kr - Annual Revenue Surges Threefold, a Dark Horse Emerges in the Smart Cooking Robot Track (https://m.36kr.com/p/3596214575923207)

[7] Sina Finance - “Dark Horse” Smart Cooking Robot from Shenzhen Secures Tens of Millions in Financing! (https://finance.sina.com.cn/roll/2025-12-17/doc-inhccfvz2156349.shtml)

[8] Yingke - Business Analysis of Zhigu Tianchu (https://m.36kr.com/p/3596214575923207)

[9] CBNData - “Top Six Small Home Appliance Enterprises” Need New Stories (https://www.cbndata.com/information/293888)

[10] Sina Finance - The 7th China Kitchen & Bathroom Industry Innovation and Development Summit 2025 Successfully Concluded (https://finance.sina.com.cn/tech/roll/2025-12-23/doc-inhcuunm5334945.shtml)

[11] OFweek AI Network - [Annual AI Observation] Targeting the $5 Trillion Market: Cross-border Layout of Robots (https://m.ofweek.com/ai/2026-01/ART-201700-8420-30678085.html)