China advanced manufacturing tour: Takeaways from Mech-Mind Robotics visit

研报英文原文证据摘录

China advanced manufacturing tour: Takeaways from Mech-Mind Robotics visit

Global Markets Research

China advanced manufacturing tour 18 June 2026

EQUITY: TECHNOLOGY

Takeaways from Mech-Mind Robotics visit Research Analysts

Advanced Manufacturing

Robust 3D vision franchise supports diversified clientele Frank Fan - NIHK

frank.fan@nomura.comand overseas reach, according to management

+852 2252 2195

Robust 3D vision growth underpinned by scale and global diversification Donnie Teng - NIHK

On 16 June, we visited Mech-Mind Robotics (unlisted), a machine-vision company donnie.teng@nomura.com

supplying embodied intelligence robotics with AI "brains" and 3D vision. Management +852 2252 1439

indicated that the company had held the top domestic market share in large-field 3D

grasping, such as de-palletizing, for six consecutive years, citing a Tianjin parcel-handling

deployment processing up to 1,800 items per hour. The company does not produce robot

bodies but adapts to the full range of robotic arms; in management's framing, "doing more

generates more data, which improves the models,"forming a positive feedback loop that

lifts generality and stability.” Management commented that roughly half of the clients are

based overseas, with a relatively dispersed client concentration. Based on our external

industry survey, Mech-Mind holds a leading position in de-palletizing, although its

technology lead over peers such as Hikrobot (unlisted) may be narrowing.

Eye-brain-hand platform targets long-tail demand; hand remains nascent

Mech-Mind derives its core revenues from the "eye" (3D vision) and "brain"

(algorithms/models), which management positions to drive a shift from heavily customized

integration toward standardized, easy-to-use deployment, supported by training of 2,000–