{
  "rows": [
    {
      "company": "Estun Codroid",
      "hq_country": "China",
      "website": "https://www.codroid.ai/",
      "status": "division",
      "what_it_builds": "Wholly owned unit of Nanjing Estun Automation Co., Ltd., building the Codroid humanoid line including Codroid 02 and the newer wheeled humanoid Panshi C05-L. C05-L targets light material handling and precision assembly assistance in industry, with commercial guidance, delivery and office-service applications.",
      "what_it_builds_source": "https://finance.sina.com.cn/tech/digi/2025-11-28/doc-infyyape7327545.shtml",
      "founded_year": "2022",
      "founded_source": "https://money.finance.sina.com.cn/corp/view/vCB_AllBulletinDetail.php?id=12477991&stockid=002747",
      "funding_usd": null,
      "funding_basis": "corporate division",
      "funding_source": null,
      "funding_note": "Wholly owned Estun unit since September 2026: https://static.cninfo.com.cn/finalpage/2026-10-30/1225640538.PDF. Funding left null under corporate-division rule. Excluded historical raises: 2023-09-08 CNY12.5m Estun strategic investment; November 2024 CNY130m Pre-A (CNY100m advanced-manufacturing fund + CNY30m Jiangsu/Nanjing fund), documented in audit: https://money.finance.sina.com.cn/corp/view/vCB_AllBulletinDetail.php?id=12477991&stockid=002747. Pre-A also press-reported: https://www.cls.cn/detail/1859063. Founding/shareholder capital in 2022-23 and employee capital paid in 2026 excluded under division rule. September 2026 acquisition was a secondary share purchase, not new funding. No FX conversion because no funding summed. No post-money valuation or market cap found; acquisition price is not treated as either.",
      "latest_funding_date": null,
      "valuation_usd": null,
      "latest_model": "Panshi C05-L (磐石 C05-L; wheeled humanoid)",
      "latest_model_year": "2025",
      "latest_model_source": "https://finance.sina.com.cn/tech/digi/2025-11-28/doc-infyyape7327545.shtml",
      "units_shipped": null,
      "units_shipped_source": null,
      "units_shipped_note": "No published numerical count of humanoid units delivered, sold or shipped found as of 2026-11-03. Orders, small-batch validation, collaborative-arm shipments and parent-group industrial robot shipments are not counted.",
      "as_of": "2026-11-03"
    }
  ],
  "sources": [
    "https://money.finance.sina.com.cn/corp/view/vCB_AllBulletinDetail.php?id=12477991&stockid=002747",
    "https://static.cninfo.com.cn/finalpage/2026-10-30/1225640538.PDF",
    "https://finance.sina.com.cn/tech/digi/2025-11-28/doc-infyyape7327545.shtml",
    "https://www.codroid.ai/en/about",
    "https://www.cls.cn/detail/1859063"
  ]
}