On September 29, just over a month after completing the last round of financing, warehouse robot and solution provider [Paixun Intelligent] 

announced the completion of tens of millions of RMB pre-A+ round of financing, jointly participated by Shunrong Capital and AA Investment.

Paixun Intelligent has achieved rapid development in 2021, and has obtained bulk application orders and repeat purchase orders from many 

industry leading customers, such as Foxconn Technology Group, Pegatron Technology, Gree Electric, Goertek, China Electronics, OPPO, Nader, 

AVIC, Aerospace Science and Technology, Nuclear Industry, CRRC, etc. As of the end of the third quarter, the amount of sales contracts signed 

has increased five times compared with the same period last year, and the amount of confirmed revenue has exceeded the whole of last year. 

At the same time, Paixun Intelligent also won the "2021 China Digital Supply Chain Annual Quality Service Award", "2021 Smart Logistics 

Technology Leading Enterprise Award", "China's Top Ten System Integrators in the 3C Industry", "Digital Foxconn Ecological Partner" and other 

honors. This round of financing will be used to accelerate product development iteration, sales team expansion, and organizational capacity 

building, consolidate the company's leading position in the storage robot system in the field of electronic manufacturing, and increase the 

expansion efforts in the fields of semiconductors, national defense and military industry.

After the completion of the last round of financing, Paixun Intelligent's overall solution for storage robots for the electronic manufacturing 

industry, Paixun has launched three new products in succession, and the ultra-large capacity multi-robot storage system, intelligent online 

material tower and intelligent picking system have been implemented by customers in Guangdong, Sichuan, Fujian and other places. The 

company's R&D and commercial expansion capabilities far exceeded investors' expectations, and in the past few months, all the customers 

expected at the beginning of the year have signed contracts and implemented them; under this circumstance, the founder and CEO of the 

old shareholder AA Investment came to the door with gifts and sincerity to discuss whether additional investment could be made. After 

repeated communication, Paixun agreed to open the + round, and Suzhou local fund Shunrong Capital joined to complete this round of financing.

Shunrong Capital has also known the team for many years and has provided great help in the company's development process, and obtained 

this round of investment opportunities. After completing the Pre A+ round within a month, Paixun Intelligent further accelerated the expansion 

speed of multiple industries. Paixun Intelligent Hardware Product Series Regarding this investment in Paixun Intelligent, Zhang Liang, partner 

of Shunrong Capital, said: "Industrial new infrastructure is the key investment direction of Shunrong Capital. At this stage, in the process of 

intelligent manufacturing transformation and upgrading, enterprises must reasonably apply warehouse robots and software technology as 

the new infrastructure of smart factories to achieve the purpose of improving warehouse efficiency, precise material management, reducing 

line inventory area and operators. As a leading company in this field, Paixun Intelligent has an excellent founding team, leading technical 

strength, and rapid performance growth. We are full of confidence in the future development of Paixun."

AA investment continues to increase this time. AA founding partner Wang Haoze said: "As an early-stage technology company, Paixun already 

has A certain profit, which is very rare. Paixun's style of passion and stability makes us investors firmly believe that Paixun will grow into a robot 

company with a market value of 10 billion in the future. In order to invest more shares in this round of financing, I went to Suzhou 4 times, and 

I was ruthlessly rejected the first two times. After that, I would put two bottles of Yamazaki 18-year-old whiskey from my collection in my 

backpack every time. While having dinner with the two founders, I fully demonstrated AA's experience in this direction as a fund focusing on 

ToB enterprise service investment, and the substantial help that our AA LP can bring to Paixun. In the end, after my soft and hard work, and 

thanking the founding team for their trust, our AA took a little more shares."

Wang Haoze said: "From a macro perspective, the rapid rise in labor costs is the external driving force for the rapid growth of robot companies 

such as Paixun. According to data from the National Bureau of Statistics, the labor cost of the manufacturing industry has increased by 50-60% 

after 2019. In China, there are 228 million people born in the 1980s, 174 million people born in the 1990s, and 147 million people born in the 

2000s. This means that the working-age population will decrease by about 15% every ten years, and it will become normal to recruit people 

with difficulty and high cost. The corresponding market for robots to replace labor will increase rapidly at a rate of about 3 times per year in 

the next few years. Data research by Meituan Research Institute found that 35% of food delivery boys come from factories, and the salary 

income of O2O service industries such as express delivery and online car-hailing is greater than that of factories. While saving labor costs, the 

Paixun warehouse robot system can also help companies collect data more accurately and in real time. Online data and machine data can bring 

AI decision-making and management improvement."