Core Viewpoint - Yunji Intelligent, founded by Zhang Junbin, has transformed the home cleaning industry with its "automatic mop washing" robot, achieving a valuation of over 10 billion yuan and recently securing $100 million in Pre-IPO financing led by Tencent. However, the company faces significant user complaints regarding product reliability and service issues [1][4][11]. Group 1: Company Growth and Financing - Yunji Intelligent has completed 11 rounds of financing, with major investors including Tencent, Sequoia China, and Hillhouse Capital, and has initiated a Pre-IPO financing plan [6][7]. - The company has experienced rapid growth, with a revenue increase of 130% year-on-year in 2024 and a nearly 700% increase in overseas markets [11]. - The recent financing round marks the beginning of Yunji's journey towards an IPO, with a strategic plan to enter the embodied intelligence sector and develop new household products within two years [5][9]. Group 2: Product Issues and User Complaints - There are 2,671 complaints about Yunji products on a complaint platform, highlighting issues such as charging failures, sensor malfunctions, water leakage, and low cleaning efficiency [7][13]. - Users have reported frequent malfunctions requiring repairs shortly after purchase, with some expressing frustration over poor customer service and product reliability [20][23][29]. - The company has been criticized for its handling of customer complaints, with reports of inadequate support and accountability from the service team [20][21][29]. Group 3: Market Competition and Industry Trends - The global market for vacuum robots is projected to reach 20.6 million units sold in 2024, with a market size exceeding $9.31 billion, reflecting a growth rate of 19.4% [9]. - Competitors like Ecovacs and Roborock have successfully capitalized on this growth, while Yunji faces intense competition and price wars, leading to a decline in average prices for lower-end models [10][12]. - The industry is witnessing a trend where high-end features are being integrated into mid-range products, intensifying competition and affecting market dynamics [11][12].