In the industrial landscape of the Yangtze River Delta, the robotics sector is rapidly taking center stage, driven by robust financial support and policy initiatives. This region, home to China’s densest manufacturing clusters, has nurtured distinct enterprises in Shanghai, Jiangsu, and Zhejiang, each with unique business models, technological pathways, and market strategies. Representative players such as Shanghai Qinlang Intelligent Technology Co., Ltd. (Qinlang Intelligent), Nanjing Estun Automation Co., Ltd. (Estun), and Zhejiang Hongshun Intelligent Technology Co., Ltd. (Hongshun Intelligent) exemplify this trend, with financial backing being a critical enabler for their swift growth.
The emphasis on embodied intelligence has gained significant momentum, especially with its inclusion as a key direction in the 2025 government work report to advance technology and industrial upgrades. The innovative advantages in Jiangsu, Zhejiang, and Shanghai are becoming increasingly evident, as financial arrangements, diverse financing channels, and政策性 subsidies serve as invisible drivers for the rapid operation of this emerging industry chain. Recent visits to enterprises in these areas reveal that capital allocation and policy support are pivotal in sustaining the momentum of embodied intelligence development.
1. Global Expansion of Service Robots: Qinlang Intelligent’s Journey
Artificial intelligence stands as one of Shanghai’s three leading industries, and the robotics sector is experiencing a “policy year” in 2025. Shanghai has taken the lead by issuing the “Shanghai Embodied Intelligence Industry Development Implementation Plan,” which aims to achieve a core industry scale exceeding 50 billion yuan by 2027. This plan includes the establishment of five major public service platforms, such as computing power and training grounds, with individual projects eligible for subsidies of up to 50 million yuan.
In Shanghai, Qinlang Intelligent represents a prominent player in the commercial service robot domain. As one of China’s first service robot companies to expand overseas, Qinlang Intelligent has achieved a global shipment volume of over 100,000 units. The company operates five subsidiaries or offices abroad, with business spanning more than 600 cities across 60 countries. Cumulatively, its embodied robots have provided over 1.23 billion services worldwide.
The foundation of Qinlang Intelligent traces back to 2010, when Li Tong, a graduate of Huazhong University of Science and Technology’s Electronic Engineering Department, along with several alumni, rented a 70-square-meter bare space in Shanghai. Equipped with just a few tables and one computer, they began tackling core algorithms. Fifteen years later, the company Li founded has risen to become a global leader in commercial service robots. According to IDC data, Qinlang Intelligent ranked first in global shipments in 2024.
Li Tong shared with reporters, “We didn’t linger too long in the laboratory; instead, we pushed the robots into the market to let them run and be used.” This philosophy underscores Qinlang Intelligent’s strategic core—combining general-purpose and specialized embodied intelligence to achieve rapid deployment in scenarios such as dining, healthcare, and retail.
In its global expansion, Qinlang Intelligent pays close attention to localized demands. For instance, in Japan, where restaurant spaces are often compact, the company’s T8 model robot exported to the country can navigate aisles as narrow as 50 centimeters. “We make adjustments based on local business needs,” Li noted. Since 2022, Qinlang Intelligent has formally embarked on a globalization strategy, entered the cleaning machinery market in 2023, and is focusing on humanoid service robots from 2024 to 2025.
Financial services have been instrumental in this journey. As a national joint-stock commercial bank headquartered in Shanghai, SPD Bank has established a cross-border two-way RMB capital pool for Qinlang Intelligent, implemented foreign exchange capital project services, and provided tools for the preservation and appreciation of domestic and foreign currency funds. Li Tong emphasized, “Such financial services give enterprises the confidence to venture abroad.”
In Shanghai, the acceleration of the artificial intelligence industry chain is palpable. For example, the nation’s first state-local共建 humanoid robot innovation center is set to be established within the year, while parks like Zhangjiang Robot Valley connect over 70 upstream and downstream enterprises in embodied intelligence, emphasizing application scenarios in logistics assembly, industrial manufacturing, and commercial retail.
2. Industrial Robotics and Merger-Driven Upgrades: Estun’s Model in Jiangsu
In Jiangsu, the embodied intelligence industry chain exhibits a distinct developmental trajectory. Historically, Jiangsu leveraged its powerful manufacturing clusters to achieve rapid economic growth. Now, in the era of embodied intelligence, the province is accelerating the transformation of manufacturing into intelligent manufacturing, incorporating artificial intelligence and the robotics industry chain into the key cultivation scope of its “1650” industrial system, and actively planning the layout of embodied intelligence robots as an emerging development track.
Estun, based in Nanjing, epitomizes this approach with its “industrial robot + merger-driven” development model. In recent years, Estun has initiated multiple mergers and acquisitions in regions such as Germany and the UK, successfully integrating high-end technology chains into its own system. However, the substantial capital required for these acquisitions placed significant pressure on the company’s cash flow, making bank loans and industrial fund investments crucial supporting forces.
He Lingjun, CFO of Estun, told reporters, “Without financial support, Estun’s international layout wouldn’t have progressed this quickly. The manufacturing chain is long, and leading enterprises must use capital operations to address shortcomings. The risk appetite of financial institutions determines how fast and far a company can go.”
Merger and acquisition processes involve multiple factors, including corporate credit and the complexity of overseas targets, making it challenging for banks to quickly grasp information. In the case of the Cloos acquisition, SPD Bank’s Nanjing branch provided a seven-year loan for the project, initially using listed company guarantees and gradually transitioning to credit-based merger loans. This “dynamic credit” model offered financial flexibility during the acquisition process.
Estun’s growth has also driven regional industrial upgrades. Nanjing’s Jiangning District has gradually formed an industrial cluster focused on robots, automated complete equipment, and intelligent measurement and control systems, with over 150 related enterprises in the area. SPD Bank’s Nanjing branch provides financial services to nearly 100 enterprises in the district, achieving full-process financial coverage from the laboratory to the industry chain. The synergy between industrial clusters and financial support has enhanced the overall competitiveness of industrial robots in Jiangsu.
Currently, cities like Wuxi, Suzhou, Nanjing, and Changzhou in Jiangsu have formed an industrial pattern for key components such as reducers, servo systems, and sensors, characterized by “one enterprise driving the chain, one chain forming a cluster.” This supports the large-scale production of various robots, including humanoid embodied robots.
3. Elderly Care Robotics: Hongshun Intelligent’s Compassionate Approach in Zhejiang
If Qinlang Intelligent and Estun represent the themes of “commercial success” and “capital drive,” respectively, then Zhejiang-based Hongshun Intelligent embodies another value. Over a decade ago, Chairman Chen Tieying volunteered at a nursing home and conceived the idea of using robots to address aging-related challenges. She led a team to develop the elderly care robot “A Tie,” which can remind seniors to take medication on time, conduct regular room patrols, and even facilitate video calls with family members. As early as ten years ago, “A Tie” had been introduced into multiple nursing homes in Zhejiang.
To outsiders, this may seem like a “sentiment-driven” project, but Hongshun Intelligent’s exploration aligns with China’s structural trends: by 2035, the population aged 65 and above is projected to exceed 300 million. The demand for embodied robots in elderly care scenarios is transitioning from pilot programs to规模化. Chen Tieying stated, “Initially, we didn’t think about making a huge business; we just wanted to solve real problems.”
In Jiangsu and Zhejiang, 50 nursing homes have introduced the elderly care robot “A Tie.” To support subsequent research and development, SPD Bank’s Hangzhou branch provided a loan of 120 million yuan. In Shaoxing, another technology company, as the only domestic innovator to achieve the industrialization of cardiac interventional surgical robots, has developed a robot system that uses robotic arms to precisely control catheters for complex procedures like cardiac ablation.
These explorations同样离不开金融支持。SPD Bank’s Hangzhou branch collaborated with Jin Private Equity Investment Management Co., Ltd. to tailor a Series A financing plan for the enterprise and provided 10 million yuan in credit support through “Pu Tou Dai.” “Pu Tou Dai” is a core product in SPD Bank’s Puke series “5+7+X,” offering integrated equity investment and bank credit solutions to provide融资支持 for early-stage hard technology companies, helping them secure funds during initial development phases and promoting advancement in the hard technology sector.
Currently, Zhejiang has launched multiple support policies to vigorously promote the flourishing development of the artificial intelligence industry from various aspects, including industrial ecology, talent, computing power, data, model research and development, and application scenarios. In 2024, Zhejiang’s artificial intelligence industry achieved an annual output value exceeding 570 billion yuan, with Hangzhou-based enterprises accounting for over 70% of the total profit. A development pattern has初步形成, centered on Hangzhou and radiating to areas around Hangzhou Bay such as Ningbo, Jiaxing, and Shaoxing.
4. Policy Backdrop and Industry-Wide Impact
The embodied intelligence sector in the Yangtze River Delta benefits from a synergistic combination of regional policies and financial instruments. The 2025 government work report’s emphasis on embodied intelligence has catalyzed local governments to introduce detailed implementation plans, such as Shanghai’s initiative to build public service platforms and provide substantial subsidies. These measures are designed to lower entry barriers for enterprises and foster innovation in embodied robot technologies.
Financial institutions have played a adaptable role, offering dynamic credit models, cross-border capital pools, and investment-credit linkage products. For instance, SPD Bank’s services range from supporting overseas expansion for companies like Qinlang Intelligent to facilitating mergers for Estun and funding R&D for Hongshun Intelligent. This comprehensive financial mobilization ensures that enterprises at different stages—from startups to established players—can access necessary capital.
The industrial clusters emerging in Jiangsu, Zhejiang, and Shanghai demonstrate the multiplier effect of such support. In Jiangsu, the integration of key components供应链 enables scalable production of embodied robots, while in Zhejiang, the focus on application scenarios like elderly care and healthcare aligns with societal needs. Shanghai’s emphasis on AI as a leading industry further solidifies the region’s position as a hub for embodied intelligence innovation.
Data from various sources highlight the growth trajectory. For example, Qinlang Intelligent’s global service times exceed 1.23 billion, Estun’s cluster includes over 150 enterprises, and Hongshun Intelligent’s robots are deployed in 50 nursing homes. Zhejiang’s AI industry output of over 570 billion yuan underscores the economic significance of these developments.
| Entity | Key Achievements and Metrics | Financial Support Highlights |
|---|---|---|
| Shanghai Qinlang Intelligent | Global shipments: over 100,000 units; Service times: 1.23 billion; Operations in 60+ countries | Cross-border RMB capital pool, foreign exchange services, capital preservation tools by SPD Bank |
| Nanjing Estun Automation | Merger-driven growth; Cluster of over 150 enterprises in Jiangning District | 7-year dynamic credit loans for acquisitions; Financial coverage for nearly 100 district enterprises |
| Zhejiang Hongshun Intelligent | Elderly care robot “A Tie” in 50 nursing homes; Focus on aging population solutions | 120 million yuan loan from SPD Bank Hangzhou; A轮 financing support via “Pu Tou Dai” |
| Zhejiang AI Industry | Annual output value: over 570 billion yuan; Hangzhou as core, radiating to Ningbo, Jiaxing, Shaoxing | Policy support for ecology, talent, computing power; Equity-credit linkage for hard tech |
The future of embodied intelligence in the Yangtze River Delta appears promising, with continuous policy reinforcement and financial innovation. As enterprises like Qinlang Intelligent, Estun, and Hongshun Intelligent demonstrate, the integration of embodied robots into diverse sectors—from commercial services to industrial automation and elderly care—is not only feasible but also economically viable. The collaborative efforts of governments, financial institutions, and enterprises are creating a resilient ecosystem that positions the region at the forefront of global embodied intelligence advancements.
In summary, the embodied intelligence industry in Jiangsu, Zhejiang, and Shanghai is characterized by rapid growth, driven by tailored financial solutions and strategic policy frameworks. The repeated emphasis on embodied intelligence and embodied robots across various applications highlights their transformative potential. As this sector evolves, the ongoing financial mobilization will remain a cornerstone, enabling further innovations and solidifying the Yangtze River Delta’s role as a leader in the global robotics landscape.