翼菲科技冲刺港交所：或成「轻工业全品类机器人第一股」，在手订单超4亿

Core Viewpoint - The Chinese light industrial robot market is rapidly expanding, with Yifei Technology planning to go public on the Hong Kong Stock Exchange to capitalize on this growth [2][8]. Company Overview - Yifei Technology, established in 2012, focuses on the design, research and development, manufacturing, and commercialization of industrial robots, providing comprehensive robotic solutions primarily for the light industry [2][4]. - According to Frost & Sullivan, Yifei Technology ranks fifth among domestic companies specializing in light industrial robots and related solutions in China, and is one of the few companies with comprehensive coverage capabilities in this sector [2][4]. Product Portfolio - Yifei Technology's product range includes parallel robots (Bat series), AGV/AMR mobile robots (Camel series), SCARA robots (Python series), wafer handling robots (Lobster series), and six-axis industrial robots (Mantis series) [4]. - The Bat series parallel robots are among the first in China to receive reliability and durability certification, capable of 20,000 hours of fault-free operation [4]. - The Python series SCARA robots meet ISO Class 4 cleanroom standards, while the Lobster series wafer handling robots have achieved TÜV SEMI certification, with the RW-A model reaching ISO Class 1 cleanliness [4]. Technological Advancements - Yifei Technology is committed to developing fully autonomous, full-stack embodied intelligent robotic technology, integrating core systems for intelligent decision-making, environmental perception, precise control, and autonomous movement [5]. - The company has established a core technology system that enables millisecond-level coordination from perception to execution, meeting high-speed and high-precision requirements in target industries [5]. Market Growth - The global demand for industrial robots and related solutions is surging, with the Chinese industrial robot market projected to grow from approximately 568 billion yuan in 2024 to 1,216 billion yuan by 2029, at a compound annual growth rate (CAGR) of 16.7% [8]. - The light industrial robot market in China is expected to grow from 12.3 billion yuan in 2020 to 20.9 billion yuan in 2024, with a CAGR of 14.2%, and further to 43.8 billion yuan by 2029, at a CAGR of 16.3% [8]. Financial Performance - Yifei Technology's revenue from 2022 to 2024 was 162 million yuan, 201 million yuan, and 268 million yuan, respectively, reflecting a CAGR of 28.5% [9]. - The company's gross margins during the same period were 26.7%, 18.3%, and 26.5% [9]. Funding and Valuation - Yifei Technology has completed multiple rounds of financing, with a valuation of 3.604 billion yuan as of the last funding round before the IPO [10]. - The net proceeds from the IPO are intended for robot technology development, production line development, overseas business network expansion, supply chain investments, and working capital [10].