Core Viewpoint - The article discusses the successful global IPO of Cloudwalk Technology (stock code: 2670.HK), a leader in the robot service industry, highlighting its strong growth trajectory and the establishment of a "second growth curve" through innovative service offerings [5][18]. Group 1: Company Overview - Cloudwalk Technology is launching its global IPO, becoming the first 18C specialized technology company to issue shares in Hong Kong this year [5]. - The company plans to issue 6.9 million H-shares, with 95% allocated for international placement and 5% for public offering in Hong Kong, at a price of HKD 95.6 per share [5][6]. - As of October 9, 2023, the company has seen a massive oversubscription of 1,336.38 times for its public offering, indicating strong investor interest [5][6]. Group 2: Financial Performance - In the first five months of 2025, Cloudwalk Technology achieved total revenue of RMB 88.33 million, a year-on-year increase of 18.9% compared to RMB 74.30 million in the same period of 2024 [7][14]. - The company's revenue for the entire year of 2024 reached RMB 244.77 million, a significant increase of 68.6% from RMB 145.15 million in 2023 [7][8]. - The gross profit margin improved to 43.5% in 2024, up from 24.3% in 2022 and 27.0% in 2023, demonstrating enhanced profitability [8][9]. Group 3: Market Position and Competitive Advantage - Cloudwalk Technology holds a leading market share of 13.9% in the Chinese hotel robot service market, significantly outpacing its nearest competitors [10]. - The company has expanded its client base, servicing over 34,000 hotels and 150 hospitals, which validates the market acceptance of its products and services [10][12]. - The company's strong market position allows it to leverage economies of scale and brand premium, enhancing its competitive edge in the industry [12]. Group 4: Growth Strategy - Cloudwalk Technology is successfully transitioning from hardware sales to high-margin, high-value AI digital system services, marking the emergence of its "second growth curve" [13][18]. - The revenue from its AI digital system business surged by 194.2% year-on-year in the first five months of 2025, indicating robust growth potential in this new segment [13][14]. - The overall market for robot service intelligentsia in China is projected to reach RMB 938.2 billion by 2024, with significant growth opportunities in various sectors beyond hotels [15][18].