ASD Cookware Giant Expands Robotics Empire with Strategic Acquisition

May 22 – Kitchen appliance powerhouse ASD Group announced it has reached an agreement to acquire an additional 7% stake in its robotics subsidiary Qianjiang Robot Co., Ltd. from shareholder Bohui Yugu Management Consulting for RMB 13.09 million ($1.8 million). The transaction, which received approval from other stakeholders including Harbin Boqiang Robot Technology Co., will boost ASD's ownership from 90% to 97%.

Following the acquisition, ASD's total committed investment in Qianjiang Robot will reach RMB 160.05 million, cementing its near-complete control over what has become a cornerstone of its industrial automation strategy.

The move represents ASD's continued push to consolidate its robotics assets and leverage synergies across its industrial automation portfolio. Market response has been overwhelmingly positive, with ASD shares surging nearly 15% over the past two trading sessions. The stock closed at RMB 17.31, up 5.87%, giving the company a market capitalization of RMB 5.9 billion ($820 million).

source: ASD Group

From Woks to Robots: A Transformation Decade in the Making

Founded in 1978, ASD built its reputation as China's "cookware king," dominating the domestic market for pots, pans, and kitchen appliances. Today, the company's portfolio spans home appliances, consumer goods, and increasingly sophisticated industrial robotics and digital automation solutions.

The pivot began a decade ago as China's manufacturing sector faced mounting pressure to modernize. Government policies promoting smart manufacturing and Industry 4.0 initiatives created fertile ground for automation technologies, setting the stage for traditional manufacturers to reinvent themselves.

ASD's robotics journey started in earnest in 2016 with a RMB 58.65 million investment to acquire a 51% stake in Qianjiang Robot. Three years later, the company doubled down, paying RMB 137 million for an additional 39% stake from Qianjiang Motorcycle, bringing its total ownership to 90%.

Building a Robotics Powerhouse

Founded in July 2013, Qianjiang Robot has emerged as one of China's most comprehensive domestic robotics manufacturers. The company specializes in industrial robot systems and core components, offering four-axis handling robots, six-axis articulated robots, and delta configurations with payload capacities ranging from 3kg to 800kg across welding, cutting, and coating applications.

Qianjiang's technical capabilities encompass high-rigidity serial and parallel mechanism design, lightweight precision engineering, and advanced motion control systems delivering high-speed, high-precision, and safety-critical performance. The technology has found applications across new energy, home appliances, automotive components, consumer electronics, and construction machinery sectors, positioning the company among China's top-tier industrial robot manufacturers.

Recent performance metrics underscore the unit's growth trajectory, with production volumes, sales, and inventory levels jumping 115.21%, 66.32%, and 59.07% respectively in 2024, driven primarily by surging order volumes.

ASD's robotics ambitions extend well beyond Qianjiang. In early 2017, the company established Shanghai ASD Robot as a wholly-owned subsidiary, positioning Qianjiang as the core technology provider for integrated solutions across foundry, electronics, and new energy sectors.

The 2018 merger with Songsheng Robot further expanded ASD's automation footprint, with the subsidiary pivoting in 2024 to target pharmaceutical, alcoholic beverage, tobacco, automotive parts, glass, and wheel hub logistics automation markets.

Most recently, Shanghai ASD Robot launched Zhejiang ASD Humanoid Robot Co., Ltd. in April 2024, signaling the company's intention to capture emerging opportunities in anthropomorphic robotics.

Financial Performance Validates Strategy

The numbers tell a compelling story. ASD's 2024 revenue reached RMB 2.93 billion, up 19.06% year-over-year, with robotics contributing RMB 272 million—representing 9.30% of total revenue and growing 16.99% annually.

Capital markets have taken notice. During December 2024's robotics stock rally, ASD shares hit daily trading limits twelve times over 22 sessions. By December 3, the company's market capitalization had reached RMB 5.62 billion, representing a staggering 397.08% increase from its IPO valuation of RMB 1.13 billion.

Industry-Wide Automation Arms Race

ASD's transformation reflects broader trends reshaping China's appliance sector. Home appliance giants Midea acquired German robotics leader KUKA, while Haier snapped up motion control specialist Xin Shida. Even Gree has developed proprietary industrial robotics capabilities.

The trend extends to smaller players: Joyoung, famous for its soy milk makers, recently divested its stake in service robot company Beetle Intelligence but continues competing in the cooking robot space against rivals like Supor.

From white goods titans to kitchen appliance specialists, the entire home appliance industry is experiencing an unprecedented robotics investment boom. While each company's approach differs, the collective commitment to capturing robotics market share remains unwavering.

The Future of Manufacturing

As the aromatic sizzle of traditional wok cooking meets the precision of robotic arms, and as conventional production lines integrate artificial intelligence algorithms, a fundamental industrial transformation is quietly unfolding. The convergence of time-honored manufacturing expertise with cutting-edge automation technology promises to redefine not just how products are made, but the very nature of industrial competition itself.