China Postal Securities: TiRobot (688277.SH) —— Deep Cultivation in the Orthopedic Robotics Field, Consumables and Service Business May See a Leap

Deeply Cultivate the Field of Orthopedic Surgical Robots, Occupying a Market Leadership Position

The company is a leader in China's orthopedic surgical robotics industry, committed to reshaping orthopedic surgical procedures through intelligent technology, integrating upstream and downstream technical resources, and building a smart orthopedic surgery platform. In 2020, the company successfully went public on the STAR Market with an IPO. In recent years, it has achieved coordinated development through the "equipment + consumables + services" model, with steady growth in performance. In terms of products, the company has launched four generations of orthopedic surgical robot products, including the TiRobot 1.0 (with trauma and spine functions) certified in 2016, and the TiRobot 2.0 series launched in 2021. The TiRobot 2.0 adopts a modular design, allowing customers to choose a single module or upgrade according to their needs. In 2023, the company obtained the registration certificate for the 2.0 joint machine, and in October of the same year, the three-module (all-in-one) system was certified, becoming the world’s first robotic system capable of performing full orthopedic surgeries (trauma, spine, and joint). In 2025, the TiRobot Sirui orthopedic surgical robot was approved. Internationally, in August 2024, the company's orthopedic surgical navigation and positioning system, along with its orthopedic surgical navigation and positioning toolkit, received EU CE certification.