Based on industrial mobile robots, the Robotics business has gradually expanded over the years to cover all types of robotics applications. Currently, its products and solutions cover multiple fields such as industrial mobile robots (AGV/AMR), industrial robots, collaborative robots, humanoid robots and general-service robots, and are no longer limited to a single racetrack.
In the direction of collaborative robotics and industrial six-axis machinery arms, step technology continues to deepen cooperation with key customers, increasing market share, the application of scenarios such as lithium-electric, photovoltaic, new energy vehicles is gradually unfolding; in the field of pan-service robots, products have been extended to service distribution, surgical robots, power inspection, etc.; humanoid robot direction, has established a full range of rotation/linear connection platform solutions and has successfully delivered bulk to several leading customers.
Starting from mobile robots to the expansion of the full-category robotics scene, the sport is no longer betting on a single track. This multi-point blossoming attitude constitutes a first-tier source of performance excellence.
Second-tier source on the customer side. On July 29, 2026, Yubei nominated Paco Co. Ltd. to thank the letter and award the title of Outstanding Partner of the Year 2025 to Paco Co. Ltd. In the letter, Yubei mentioned that in an environment of full industry orders and tight delivery cycles, Paco continues to complete delivery tasks of high quality.
A more iconic signal is that pedicure's unbroken rectangular motor has been applied on a large scale to a number of human-capable robot customer products.
Movement control systems have been developed around human-robot joints and mobile underpinnings that cover both pedal and wheel shapes. FMK/FMH high-performance mid-range rectangular motors have tight design requirements for joints facing shoulders, elbows, wrists, knees, and hips; iSWV rectangular all-wheel drive modules provide all-wheel drive for wheeled human-robot underpinnings.
From a mobile robot to a humanoid robot, the role of piezotechnology is changing with its core customers. It is no longer just a component supplier, but is deeply involved in customer product definitions and a key link in the mass-production climb. This resilience of customer relationships has more long-term value than mere revenue growth.
The overseas layout constitutes the third layer of support for the aluminum core. The overseas business of Paceco has adopted a phased promotion strategy, built overseas and domestic strategic collaboration, promoted the overseas market of aluminum 1+N aluminum strategic landings, mainlined the domestic with robotic core components, and led to other relevant industry brand penetration attempts to be replicated overseas, with the future goal of making the overseas market one of the important engines for its performance growth.
In the first half of this year, it also participated in five core overseas exhibitions, covering several countries and regions in Europe, North America, and Asia, while the multilingual construction and content transformation of overseas brand websites were simultaneously promoted. The contribution of overseas markets to revenue will be gradually released, but the layout pace is faster than outside expectations.
Strategic depth:
i-Kinco Integrated builds a growing fleet
The i-Kinco Integration Strategy is the answer to what the future of Kinetics is going to be.
The core logic of this strategy is that the value jumps from lithium components to lithium module pumps to lithium solution pumps. Based on the i-Kinco product technology concept, by integrating servo drivers, servo motors, planetary decelerators and encoders into a single module, customers will no longer have access to decentralized parts that need to be self-integrated, but to power units that can be directly installed.
In terms of the completeness of the product layout, the direction of the mobile robot has formed a matrix of three complementary products.
Specifically, the all-new generation of iWMC integrated server wheel modules, released by StepCo, are load-bearing, 50kg to 2.5T, suitable for lightweight service robots, submersible top-up AMRs, medium load-carrying robots, and with UL, CE certification and support for STO functionality. The product addresses the core demands of the mobile robotics industry for shrinkage, quality improvement and shrinkage, optimizing the integration and high protection structure design, effectively mitigating complex cost biases, long delivery cycles, insufficient protection levels and outbound direction limitations.
An iSWV vertical integrated turbine module is an integrated walking/turning motor, pack turbine, walking/turning drive board, encoder, structural parts, decelerator, etc. multi-unit, single-wheel load of up to 150 kg, walk support 3 times overload, and turn to the module disconnect power to remember the origin location.
The iGMK integrated servo decelerator continues the pump-driven + motor + decelerator + coded pump-integrated route, load adaptive to AMR / AGV rotation top lift, material transport and other scenarios, complementing the iWMC servo wheel, FD1X5S low-pressure servo.
In addition to the three products, the range of coverage in the field of mobile device intelligence has been extended from walkable underpants to rotary top-lifting institutions, from standard servo units to integrated power modules. Financial data show that the i-Kinco series of servo modules shipped 680 thousand units in the first half of the year, an increase of 119.05%.
The directional layout of the humanoid robot is also accelerating. In the first half of the year, the shipment of the humanoid robot has increased by 422.90%, which also means that the humanoid robot industry is moving from technical verification towards a large-scale commercial landing.
The industry value of integrated products needs to be understood at the current stage of the robotics industry. The core contradictions that robotic manufacturers face in the scaling process are the balance between the R&D cycle, system integration costs, supply chain stability and product reliability.
In the traditional model, customers need to purchase drivers, motors, speed reducers and encoders separately, and then complete the integration and modulation themselves, a process that consumes a lot of engineering resources and also increases the risk of system failure. i-Kinco's integrated solution addresses these problems at the component level, providing customers with verified complete power units, shortening the R&D cycle, reducing the cost of integration, and improving reliability.
The next phase of the effort:
Capacity, R&D and globalisation
As the robotics business continues to grow, capacity and R&D are two tough constraints. Bioscience's investment in these two areas determines how fast and how far the i-Kinco strategy can go.
At the R&D level, StepCo has completed the deployment of four major R&D bases in Shanghai, Shenzhen, Shenzhen, Guangzhou and Chengdu, building a distributed R&D system in multi-regional collaboration, and continuously strengthening the R&D and product generation capabilities of underlying technologies such as motion control, human-to-human interaction systems, and robot core components.
In the first half of 2026, the company invested 475,999 yuan, accounting for 10.63% of its operating income. As of June 30, 2026, it has accumulated 141 domestic and foreign patents, including 26 patents for inventions.
In the list of research projects, the proportion of projects related to humanoid robots has increased significantly. Some products of the humanoid frameless motor project have been marketed, focusing on the strengthening of large spacetime, lightweighting, high torque density advantages; the human robot joint module motor project is in the development phase, the goal is to develop high-power density unframe motor, meeting the needs of human robot joint lightweighting, low-temperature elevation; the joint module server driver project is also in the research, research of small-volume high-power density drivers, breakthrough processor single chip miniaturization, silicon silicon silicon chip chip high density integration, small STO functions integration key technologies. The orientation of these projects is clear: the requirements for human robot joint compactness, high power efficiency, high reliability, etc.
On the capacity side, the capacity of the Shenzhen Intelligent Manufacturing Production Base is steadily declining, and the capacity of the servo motors and servo modules is rapidly being released. The Intelligent Production Base in Shenzhen, Shenzhen, has generated a million-scale capacity and relies on the digital plant management system to run the entire process management of raw materials in inventory, production manufacturing, quality testing to finished product inventory. This standardized manufacturing capability is the basis for the rapid transformation and order growth of the humanoid robot industry.
Overall, this year's initiative is focused on building infrastructure and resource reserves, and next year's robotics business will enter a continuous incremental phase, with revenue contributions expected to gradually show up.
Returning to the opening question: where is the real point of view after the robotics business accounted for more than half? The answer is not in the numbers themselves, but whether Pieco can borrow the i-Kinco integrated strategy to build an irreplaceable position at the level of robotic power systems.
From the first half of the year's moves, Stepco has been deeply involved in the product definition and mass production process of its customers through the integrated strategy of i-Kinco, cutting core components such as unbroken rotor motors into the human-robot linkage execution system, opening new market spaces through overseas layouts. The human-robot industry is in a critical period of development of scale applications, and its influence in the industrial chain will be further expanded with the continuous transformation of R&D investments and the gradual release of overseas products.
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Recent Activities
Pasini completed the IPO consulting filing; he completed the conversion of shares; Obi-Wan Light delivered the H-shares listing application; this last technology went public on the port exchange on September 29th.