Group 1 - Luca Samal, a 29-year-old software engineer, has visited Wuhu, Anhui, China nine times to collaborate on the simulation systems for spray painting robots [2] - CMA Robotics, the Italian company where Samal works, has over 20 years of experience in manufacturing spray painting robots and was acquired by Efort Intelligent Equipment Co., Ltd. in 2015 [2] - Efort, which originated from Chery Automobile's factory, has established a research and development center for intelligent spray painting robots in Italy, facilitating collaboration between Chinese and Italian engineers [2]

Core Viewpoint - Zhejiang Yifei Intelligent Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, aiming to raise capital for its operations in the industrial robotics sector, particularly focusing on the light industry [1] Company Overview - Established in 2012, Yifei Intelligent is a leading comprehensive industrial robotics company in China, specializing in the design, research and development, manufacturing, and commercialization of industrial robots [1] - The company has developed a robust technology ecosystem that supports intelligent decision-making, environmental perception, precise control, and autonomous movement [1] Market Position - According to a report by Frost & Sullivan, Yifei Intelligent ranks fifth among domestic companies in China that focus on industrial robots and related solutions for the light industry, based on projected revenue for 2024 [1] - Yifei Intelligent is one of the few companies in China capable of providing comprehensive coverage of industrial robots and related solutions, aiding clients in enhancing production efficiency, optimizing costs, and improving product quality [1] Technological Capabilities - The company has developed a full-stack robotic architecture that integrates four core functions: "brain" (integrated control system), "eyes" (advanced vision system), "hands" (advanced modeling and precision manufacturing), and "feet" (autonomous navigation and dynamic obstacle avoidance) [2] - These capabilities enable the products to work in close coordination and be scalable [2] Financial Performance - Yifei Intelligent has been operating at a net loss since its inception, with projected revenues of RMB 160 million, RMB 200 million, and RMB 270 million for 2022, 2023, and 2024, respectively [2] - The company expects to continue incurring net losses post the historical performance period, with losses of RMB 60 million, RMB 110 million, and RMB 70 million for the same years [2] - Significant R&D investments have been made, with expenditures of RMB 34.2 million, RMB 33.1 million, and RMB 38.7 million for 2022, 2023, and 2024, representing 21.1%, 16.5%, and 14.4% of annual revenue, respectively [3]