Group 1 - Stand Robot Company has officially submitted its listing application to the Hong Kong Stock Exchange, aiming to become the "first stock of industrial embodied intelligence" in the Hong Kong market [1] - The company was founded in 2016 by Wang Huaiqing and angel investor Luo Hong, with the current leadership including Wang Yongkun as Chairman and CEO, and Li Hongxiang as Executive Director and CTO, who together control 30.9% of the voting rights [1] - Stand has attracted investments from notable institutions such as Xiaomi, Bohua Capital, and NIO, with Xiaomi holding an 8.4% stake, reflecting confidence in Stand's technological capabilities and market prospects [1] Group 2 - Stand's core business provides customized one-stop robot solutions for various industrial scenarios, ranking fifth globally among industrial intelligent mobile robot solution providers [2] - The company has achieved significant technological advancements, being one of the few in the industry to develop a proprietary operating system for industrial intelligent robots and to release simultaneous localization and mapping (SLAM) technology [2] Group 3 - Despite technological breakthroughs, Stand faces financial challenges, with continuous revenue growth from 2022 to 2024 but persistent net losses; however, adjusted net losses are narrowing, indicating an improving financial situation [4] - The company's gross margin has steadily increased from 12.9% in 2022 to 38.8% in 2024, although R&D investment has significantly decreased from 57.7% to 14.6% in 2024, raising concerns about future innovation capabilities [4] - Stand serves over 400 clients with a key customer retention rate exceeding 60%, including well-known companies like Xiaomi, Foxconn, and OPPO, providing a solid foundation for future growth [4] Group 4 - Looking ahead, Stand plans to use the funds raised from its listing to strengthen its core robot technology platform, develop new products and proprietary technologies, expand its sales and service network, enhance production capacity, and for general corporate purposes and working capital [4]

Core Viewpoint - Stand Robot (Wuxi) Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities and Guotai Junan International as joint sponsors [1] Company Overview - Stand Robot is a global leader in industrial intelligent mobile robot solutions, focusing on empowering smart factories across various industrial scenarios [4] - The company is recognized as the fifth largest provider of industrial intelligent mobile robot solutions and the fourth largest provider of industrial embodied intelligent robot solutions globally, according to Zhaoshang Consulting [4] - Stand Robot has a diverse customer base, with over 400 clients, many of whom are leaders in their respective fields, particularly in high-tech industries such as 3C, automotive, and semiconductors [4][6] Technological Advancements - The company is one of the few in the industry to achieve independent research and development of full-stack technology and has pioneered proprietary operating systems for industrial intelligent robots in China [5] - Stand Robot has made significant breakthroughs in positioning, navigation, control, and perception technologies, enabling robots to operate with intelligence, efficiency, stability, and safety [5] - The company is capable of dispatching over 2,000 robots in a single simulated scenario, a feat that is uncommon in real industrial settings [5] Financial Performance - Stand Robot's revenue for the years 2022, 2023, and 2024 was approximately RMB 96.3 million, RMB 162.2 million, and RMB 251.5 million, respectively [7] - The company reported losses of approximately RMB 128 million, RMB 100.3 million, and RMB 45.1 million for the same years [7] - The gross profit for the years 2022, 2023, and 2024 was RMB 12.4 million, RMB 51.2 million, and RMB 97.2 million, respectively [8]