Core Viewpoint - Stand Robot is set to become the first public company in the field of industrial embodied intelligence, showcasing a remarkable entrepreneurial journey led by its founder Wang Yongkun, a 90s graduate from Harbin Institute of Technology [2][6]. Company Overview - Stand Robot has submitted its IPO application to the Hong Kong Stock Exchange, aiming for a listing under the 18C chapter of the main board [2]. - The company is recognized as the fifth largest provider of industrial intelligent mobile robot solutions globally and the fourth in the field of industrial embodied intelligence as of December 31, 2024 [4]. Founder Background - Wang Yongkun, born in 1991 in Heilongjiang, overcame a challenging upbringing to excel academically, eventually founding Stand Robot after graduating from Harbin Institute of Technology [7][8]. - He was inspired to pursue robotics after witnessing the success of his university's robotics team [8]. Investment and Financial Performance - Stand Robot has completed eight rounds of financing, attracting investments from notable firms such as Xiaomi, Source Code Capital, and NIO Capital, among others [4][17]. - The angel investor, Luo Hong, achieved a remarkable return of 2682% on his initial investment of 2 million RMB, reflecting a valuation increase of over 26 times in ten years [4][20]. Market Position and Growth - The company has experienced explosive growth, with revenue increasing from 0.96 billion RMB in 2022 to an expected 2.51 billion RMB in 2024, representing a compound annual growth rate (CAGR) of 61.3% [24]. - Stand Robot's gross profit has also improved significantly, with a CAGR of 180.1% from 2022 to 2024, leading to an increase in gross margin from 12.9% to 38.8% [24]. Product and Technology - Stand Robot specializes in mobile robot systems and core technologies, including SLAM positioning and navigation technologies, with a product matrix that includes industrial logistics robots and automated inspection robots [22][26]. - The company has positioned itself as a leader in the industrial logistics sector, competing with firms like Hikvision Robotics and Geek+ [15]. Global Expansion - Since 2019, Stand Robot has been expanding into international markets, with overseas revenue growing from 10.2% of total revenue in 2022 to 24.1% in 2024, achieving a CAGR of 150% [26]. - The global market for industrial intelligent mobile robots is projected to reach approximately 153 billion RMB in 2024, with a CAGR of 39.8% expected over the next five years [23]. Challenges and Future Outlook - Despite revenue growth, Stand Robot has not yet achieved profitability, with net losses recorded from 2022 to 2024 totaling 2.73 billion RMB [27]. - The funds raised from the IPO are intended to enhance core technology platforms, expand sales networks, and develop production capabilities [27].