Core Viewpoint - The company, known as the "first global AMR warehouse robot stock," has officially entered the embodied intelligence sector by establishing a wholly-owned subsidiary in Beijing, focusing on the research and development of embodied intelligence technology and related products. Group 1: Company Developments - The newly established Beijing subsidiary has an initial registered capital of 10 million yuan and will concentrate on technologies such as robotic picking and general-purpose robots [1] - The company aims to integrate embodied intelligence technology with its existing logistics robot business to enhance commercial applications and leverage its brand and business network for rapid deployment [1] - The establishment of the subsidiary is expected to accelerate the development and application of new technologies, create effective synergies with existing operations, and attract talent for long-term growth [1] Group 2: Financial Performance - The company went public on the Hong Kong Stock Exchange on July 9, marking the largest non-"A+H" tech IPO in Hong Kong this year [2] - As of 2024, the company reported revenue of 2.409 billion yuan, making it the largest revenue-generating company in the Hong Kong robotics sector [2] - The compound annual growth rate (CAGR) of revenue from 2021 to 2024 reached 45%, with annual order amounts increasing from 1.59 billion yuan in 2021 to 3.14 billion yuan in 2024 [2] - The adjusted EBITDA loss significantly narrowed to 25 million yuan in 2024, with an adjusted net loss margin of only 3.8% [2] Group 3: Strategic Partnerships - The company has partnered with UK-based Logistex to create a robotic smart warehouse for Yusen Logistics, a global supply chain logistics giant, located in Northampton, UK [3] - This collaboration reinforces the company's leadership position in the UK market, having established numerous benchmark cases in logistics automation over the past six years [3]