LY iTECH(SZ:002600) 21世纪经济报道·2025-11-24 11:29Core Viewpoint - Lingyi Technology is set to go public in Hong Kong, following its previous listing in A-shares through a backdoor listing, with plans to use the raised funds for future expansion and cross-border acquisitions [1][3][10]. Company Overview - Lingyi Technology, led by CEO Zeng Fangqin, has a market value nearing 100 billion RMB and has seen its revenue double and market value increase over four times in the past seven years [3][4]. - The company has made significant strides in the field of embodied intelligence, ranking first in the global market for high-precision components for AI terminal devices and third in the AI terminal manufacturing platform sector [3][14]. Financial Performance - In the first three quarters of this year, Lingyi Technology achieved total revenue of 37.59 billion RMB, a year-on-year increase of 19.25%, and a net profit of 1.94 billion RMB, up 37.66% from the previous year [7][8]. - The company’s revenue from AI hardware is projected to reach 40.78 billion RMB in 2024, with a year-on-year growth of 32.8% [14]. Strategic Goals - The IPO aims to provide additional fundraising platforms to support the company's 2030 goals, enhance its business image, and attract talent [3][10]. - Lingyi Technology plans to leverage its mature acquisition capabilities as a core competitive advantage, targeting high-growth technology sectors for strategic investments and acquisitions [10][14]. Market Position and Expansion - The company has established a global presence with 58 production and service locations, with nearly 70% of its revenue coming from overseas markets [13]. - Lingyi Technology is transitioning from a consumer electronics supplier to a platform enterprise focused on AI terminals and robotics, with significant investments planned in these areas [13][15]. Recent Developments - The company has recently launched its first humanoid robot production line, with a daily capacity exceeding 5,000 units, and secured a supply agreement for 5,000 units with a well-known North American robotics company [14][15]. - Lingyi Technology's strategic focus includes enhancing its capabilities in high-density AI computing servers and humanoid robotics, aiming to become a top player in the global market [15].