Shoucheng Holdings, a Hong Kong-listed car park operator under state-owned steel producer Shougang Group, has pledged to invest in about 50 robotics firms on the mainland within the next few years, bolstering China’s efforts to lead this industry.
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That initiative aims to accelerate the company’s pace of investments via the 10-billion-yuan (US$1.4 billion) Beijing Robot Industry Development Investment Fund that it manages, as the sector continues to see significant changes, according to Shoucheng chairman Zhao Tianyang, speaking at an event in Hong Kong on Wednesday.
Established in late 2023, the fund has already invested in more than 10 Chinese robot makers, including Unitree Robotics, Galbot and Galaxea AI, according to the company’s latest annual report published last month.
Shoucheng, which runs parking facilities and industrial estates in Hong Kong and on the mainland, said it expected to invest in an additional 40 to 50 robotics firms over the next two to three years.
The company’s commitment to the sector reflects optimism over domestic manufacturers’ growing share in China, the world’s largest robotics market.
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“China’s robotics localisation effort is well under way,” US-based independent research firm SemiAnalysis said in a report published in March. It said local firms’ share in China’s robotics market was approaching 50 per cent, up from 30 per cent in 2020.
