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Robotics In Smart Manufacturing In China:

General Overview, Opportunities For Italian Companies

Albert Song, Principal Researcher

[email protected]

April 2020

Global Overview of Industrial Robotics

2018:First Time over 400,000 Units

2

l More than 2.4 million industrial robots operating in factories around the world

Asian Region The Growth Engine

3

China remains the main End User of Industrial Robots

4

Key Industries : Automotive, Electronics & Metals

5

Highest Robot Density & Lowest Average both in Asia

6

Professional Service Robots: Main Value Growth Drivers are Logistic Systems

7

Logistic Systems are also the Growth Driver in Units

8

AGVs are quickly prevailing

9

Industrial Robotics in China

China: 8 Years Of Strong Growth

11

T r a d e w a r

C A G R 4 2 %

Robot Density in China surpassing Global Average

12

C A G R 4 2 %

Main Industries in China : Electronics, Automotive & Metals

13

Distributions of industrial robot applications in China

14

Chinese Suppliers gaining Market Share

15

l Chinese suppliers account for less than 30% of China market share

Operational Stock in China : increased by 30%

16

Industrial Opportunities

China Manufactures More Than 70% of Global Electronic Production

18

l China exports more than 60% of all the smart phone worldwide

l Of all manufacturing processes，more than 80% are main manually，robot applications play great potential roles

Welding

Logistics

Dispensing

Cleanroom Stamping

Polishing Spraying Assembling

ScrewDrivingChina, 61, 61%Vietam, 13

UAE , 5.6

USA , 3.6Czech, 2.2Korea, 2.1

others,12.5

World Mobile Phone Export（%）

China Vietam UAE USA Czech Korea others

S o u r c e : C a n a l y s 2 0 1 9

China leads as world largest and fast-growing EV market

19

China, 1200,54%Europe, 564

USA , 325

Canada, 51

Japan, 44Korea, 34

World EV Market 2019(1000 units)

ChinaEuropeUSACanadaJapanKorea

TESLA,367.8, 17%

BYD, 229.5

BAIC, 160.3

SAIC,137.7

BMW,128.9

Volkswagen,84.2

Nissan, 80.5

Geely,75.9Hyundai, 73

Toyota, 55.2Kia, 53.5

Others,763.5

World EV Market 2019(1000 units)

TESLABYDBAICSAICBMWVolkswagenNissanGeelyHyundaiToyotaKiaOthers

S o u r c e : i n s i d e E v s . c o m

China Private Car Ownership Per 1000 People Far From Balanced

20

l By 2017 133 cars Per 1000 People, we predict by 2030 310 cars Per 1000 People

0%

5%

10%

15%

20%

25%

30%

35%

0

5000

10000

15000

20000

25000

30000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019E 2020E2021E 2022E2023E 2024E2025E 2026E2027E 2028E2029E 2030E

Priv

ate

caro

wne

rshi

pgr

owth

rate

（%）

Priv

ate

caro

wne

rshi

p（10

000

units）

Painting,Sealing &Coating

Machine Tending &Part Transfer

RoboticVision

Spot & Arc Welding Assembling

Logistics

S o u r c e : C M G - S D I C R e s e a r c h

China accounts for more than half of world express logistics

21

l Global express packages sum up 110billion units in 2019l China's e-commerce business saw a more than 1,000 percent growth over the last ten years

139.6 206.7 312.8 400.6 507.1 635.2

2045

2770

3974

4957

6038

7498

51.948 51.28

28.226.75

25.25

0

10

20

30

40

50

60

2014 2015 2016 2017 2018 20190

1000

2000

3000

4000

5000

6000

7000

8000

Pack

age

grow

thra

te%

reve

nue(

100

mill

ion

RMB)

China express logistics 2014-2019

packages（100million） revenue（100million RMB） package growth rate（%）


China Automation Market

22

1135 1065

13461541

1422 1458 15141395 1422

16571830

5.34%

-6.17%

26.38%

14.50%

-7.72%

2.53% 3.84%

-7.86%

1.94%

16.53%

10.44%

-10.00%

-5.00%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

0200400600800

100012001400160018002000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

2008-2018 China Automation MarketAutomation Market（10^8 RMB） growth rate

feedback,497, 23%

control,465, 21%

driver,429, 19%

actuator,262, 12%

motion,385, 17%

others,166, 8%

2018 Segmentation Market(10^8 RMB)

feedbackcontroldriveractuatormotionothers

157

77

37 33.619.4 17

34 4332 36.8

126

020406080

100120140160180

2018 OEM market(10^8 RMB)


textile

Machinery tooling

plastics

rubbery

food

package

lifting

hvac

minery

elevator

Paper making

electronics

construction

medical

-25% -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% 30%

-20%

-10%

0%

10%

20%

China Automation Market 2018

23

Horizental :past 5 year CAGR，Vertical:2018 growth rate


Mergers and Acquisitions Cases

24

Time Chinese Enterprise M&A Focus2016 Midea Group KUKA Industrial Robot

2014 Everett robot CMA Painting

2016 Everett robot Evolut Metal Process

2017 Everett robot Robox Robot Controller

2017 Everett robot W.F.C Welding

2017 Estun Automation Trio Motion Control

2019 Estun Automation Cloos Arc Welding2015 STEP Group Adtech(China) Motion Control2019 STEP Group Xiao(China) Integration

CMG-SDIC CAPITAL

Proprietary and Confidential. Not for Further Distribution. Page 26

Highlights

CMG-SDIC Capital Co., Ltd. (“CMG-SDIC Capital”) is one of the largest professional privateequity investment firm in China, with over US$14.4 billion of AUM from a diversified LP base

We invest in companieswith attractive prospectsfor growth and outstand-ing management teams 16

PE FUNDS UNDERMANAGEMENT

RMB100bn+(USD 14.4bn)

AUM

100+INVESTMENT

PROFESSIONALS

INSTITUTIONALLP BASE

INCLUDING TOP TIER CHINESEINSTITUTIONAL INVESTORS

25+YEARS

AVERAGE INDUSTRY EXPERIENCE OF OURCORE TEAM

Our investors include awide range of institutionalinvestors including ChinaSocial Security Fund,ICBC, and other state-owned and private capitaland financial institutions


Shareholding Structure and Evolving Milestones

ManagementTeam

Listed Companies & Research Institutions

20% 20% 10%50%

• • • • • •

2009 - 2019 Milestone (AUM in RMB)

0.65bn

Chuangxin Fund

2009/7

1.5bn

Xieli Fund

2010/11

12.8bn

Xieli DevelopmentFund

2013/4

19.3bn

China Mobile Fund

2015/5

39.3bn

Future IndustryInvestment Fund I

2016/6

54.8bn

MetropolitanIndustrialInvestment Fund

2017/9

57.3bn

Regional Fund

2019/7

100bn+

Future IndustryInvestmentFund II

2019/11

Shareholding Structure


Our Strengths

• An unparalleled network of investors, portfolio companies and management teamsthat provide a strong platform for strategic expansion for businesses seeking toincrease their global markets, particularly in ChinaStrong Platform

• Integrated our abundant resources to form an “ecosphere” consisting of dynamic,closely related and mutually beneficial industries

• Encompasses and promotes cooperation between governments and variousindustries, connections between finance and enterprises, vertical links in industrychains and synergy between manufacturing and management

Dynamic Ecosphere

• Members of our industry advisory board are well-placed individuals in major Chineseconglomerates, research institutions and government agencies

• Some of the Industry advisory board members are directly involved in formulatingChina’s industrial policies and industry supervision regulations

Top-tier Industry Experts

• Possesses a vast network of investment resources and great expertise in China’sinvestment environment and business practices

• Able to utilize our resources and expertise to help the Fund and its portfoliocompanies integrate their business, operations and services with the localcommunity, and help add value and create further opportunities for the Fund and itsportfolio companies to establish long-term growth in Chinese market

Experiencedmanagement team


Our Investment Strategy

Our investment philosophy and sector focus have been consistent since inception. We seek to create superiorreturns by following a proven investment philosophy comprised of the six main principles:

• Invest market leaders that display high growth potential, strong management capability and high level of integrity intarget sectors

• Strengthen and add value to management teams of the portfolio companies

• Deploy and commercialize technologies that are well suited for the Chinese market

• Forge effective and mutually rewarding partnerships with exceptional management teams to help them becomeleaders in their respective industries

• Partner with our portfolio companies to provide financial and strategic support as well as market opportunities thatenable the portfolio companies to maximize their value and achieve their growth objectives

• Stick to long-term Investment strategy to create sustainable value for our portfolio companies

Advanced Manufacturing

New Energy Vehicles& Intelligent Vehicles

Life Science

Environmental Protection

Information & CommunicationTechnology


Experienced Investment Professionals

HIGHLIGHTS:• Investment team prides itself on

its ability to forge effective andmutually rewarding partnershipswith exceptional managementteams to execute its strategy ofinvesting in quality businesses,and adding value to make themgrow to become leaders in theirrespective industry

• Top-tier investment team withstrong performance in China

• Value-oriented investmentphilosophy with proven ability toidentify and create value

• Ability to structure and executecomplicated transactions andcreate value

• Well-established risk controlmechanism

INVESTMENT TEAM

Investment Professionals:

100+Geographies:

~50 Beijing

~25 Shanghai

~25 Shenzhen

Leadership team:

Guohua GaoChairman and Founder

10 years with Management Team25+ years experience

Guoguang BaiPresident


Christine Xiao FuMD & Head of InternationalBusiness


Senior investment team membersGuoguang ZhuGang DaiDahong LvShihai WangJun ZhaiXiao LiXiaobin ShuGang LiRuyi He

Bin ShengZhi XiaoHai LuHaibo HuangLin NiYachen Jiang……

80 Other professionals…

Jianfang ShenCo-President



Senior Mangement

Guohua Gao, Chairman and Founder• 25+ years of experiences in investment field• 10 years with Management Team• Bachelor’s degree from the University of Science and

Technology Beijing, EMBA from CRIBS and a Ph.D. fromthe University of Science and Technology Beijing

Guoguang Bai, President• 25+ years of investment experience in China• 10 years with Management Team• Bachelor’s degree from Jilin University

Jianfang Shen, Co-President• 30+ years of business management experience• 10 years with Management Team as IC member• EMBA from China Europe International Business School

Christine Xiao Fu, Managing Director & Head ofInternational Business• 25+ years of experiences in investment & consulting field• 8 years with Management Team• Bachelor’s degree from the Central University of Finance

and Economics and Master’s degree from LSE

Guoguang Zhu, Post-investment Director• 20+ years of experiences in securities regulator• 3 years with Management Team• Master’s degree of Law from Nanjing University

Simon Dazhong Lv, Managing Director• 25+ years of experiences in investment & consulting field• 10 years with Management Team• Bachelor’s degree from Nankai University, MBA from the

Canadian McGill University and Ph.D. from NankaiUniversity.

Gang Dai, CFO• 25+ years of experiences in financial & business management

field• 3 years with Management Team• Bachelor’s degree from Renmin University and CPA holder

Shihai Wang, Managing Director• 20+ years of experience in investment and IB field• 10 years with Management Team• Bachelor’s degree from Shandong University of Finance

and Economics and MA from Shanghai CommunicationUniversity


Senior Mangement

Jun Zhai, Managing Director• 20+ years of experiences in investment & business

management field• 10 years with Management Team• Bachelor’s degree and Master’s degree from Wuhan

Automobile Poly technical University

Xiao Li, Managing Director• 10+ years of experiences in experience in investment and

IB field• 8 years with Management Team• Bachelor’s degrees from Beijing Institute of Technology,

and a master’s degree from LSE

Xiaobin Shu, Managing Director• 25+ years of experiences in investment & business

management field• 5 years with Management Team• MA from China Renmin University

Gang Li, Managing Director• 30+ years of experiences in NDRC• 5 years with Management Team• Bachelor’s degrees from Beijing University of Technology

Bin Sheng, Managing Director• 20+ years of experiences in investment field• 4 years with Management Team• Bachelor’s degrees from Beijing University of Technology and

MA from Columbia University

Haibo Huang, Managing Director• 20+ years of working experience in communication and IT

industries• 4 years with Management Team• Bachelor’s degree from Xi'an Communication University, MS

and PhD from Beijing Communication University

Lin Ni, Managing Director• 15+ years of experiences in healthcare and investment field• 1 year with Management Team• Master’s degree of Pharmacy and a PhD in Pharmacology

from Osaka University

Albert Hongjun Song, Principal Researcher• 20+ years of experiences in Automation and Robotics• 4 year with Management Team• PhD in Engineering Science from Shandong University

Zhi Xiao, Managing Director• 15+ years of experiences in investment field• 4 years with Management Team• MBA from Tsinghua University

Hai Lu, Managing Director• 20+ years of experiences in healthcare and investment field• 3 years with Management Team• Master’s degree and a PhD in Pharmacy from The University

of Utah


Proprietary Deal Sourcing

Extensive in-house analytical research

Portfolio companies

Relationships with private equity firms, attorneys, auditors, advisors

Financial sponsors, investment banks and traditional bank

10 years ofincubated

proprietarysources of deal

flow

CMG-SDIC Capital have developed extensive sourcing networks over time based on our wide-rangingexperience and established reputations in the marketplace.


Institutional Limited Partners Base

LPs from 6 funds including FIIF, MIIF, ChinaMobile Fund, Chuangxin Fund，Xieli Fund，Xieli Development FundLPs date by Quantity

Central SOEs4

9%Government

Guidance Fund8

17%Socail Security Fund

12%

SOEs18

38%

Financial Institution ,1, 2%

Private Enterprises14

30%

Ministry of Finance1

2%

Key Strategic Partner Agencies

• SDIC Group, an important Chineseinvestor in the areas of energy andinfrastructure-related industry, emergingindustries and financial service

• ICBC, the largest commercial bank inChina with deep industrial andnetworking resources

• China Mobile, the leadingtelecommunications service provider inChina with the largest mobile networkand customer base in the world

• SSF, the National Council for SocialSecurity Fund to manage and operatethe national social security reserve fundin China

• CMG Group, an important Chineseinvestor based in Hong Kong with thetotal assets of 8 trillion RMB

Diversified LPs including financial institutions, private enterprises, SOEs etc.


Portfolio Companies

Listed Companies

20Filled IPO Application

7

New Energy Vehicles & Intelligent Vehicles

Intelligent Manufacturing


Portfolio Companies

Healthcare

Information & Communication Technology

Environmental Protection

国投创新投资管理有限公司

地址：北京市广安门外南滨河路1号 7层邮政编码：100055电话：86-10-6336 7686传真：86-10-6336 6130

子曰不患无位患所以立不患莫己知求为可知也

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