Core Viewpoint - The article discusses the significant advancements and potential of Yunji Technology in the field of embodied intelligent robots, highlighting its upcoming IPO and its position as a leader in the market [2][4][39]. Group 1: Company Overview - Yunji Technology submitted its IPO application to the Hong Kong Stock Exchange in March, becoming the sixth specialized technology company to do so under Chapter 18C of the Listing Rules [4]. - The company has updated its prospectus and recently passed the IPO filing, bringing it closer to listing on the Hong Kong Stock Exchange [4][39]. - Founded in 2014, Yunji Technology has established itself as a leader in the global hotel service robot market, with its products deployed in over 34,000 hotels, hospitals, factories, and other venues worldwide [6][9]. Group 2: Market Position and Performance - In 2024, Yunji Technology is projected to hold a 13.9% market share in the Chinese hotel service robot market, ranking first, while the combined market share of the next four competitors is only 13.5% [9]. - The company has achieved a coverage rate of 99% across 331 of China's 333 prefecture-level administrative regions [10]. - Yunji Technology has received over 1.2 billion yuan in total funding since its inception, with a post-D round valuation of 4.08 billion yuan [11]. Group 3: Financial Growth and Revenue Streams - The company reported an 18.9% revenue growth in the first five months of 2025 compared to the same period last year, driven by stable hotel scene income and expansion into other sectors [17]. - The revenue from its HDOS (intelligent agent application) business saw a remarkable growth rate of 194.2% in the same period, indicating the emergence of a high-margin second revenue stream [20]. - Yunji Technology's gross margin has improved significantly, with comprehensive gross margins increasing from 24.3% in 2022 to 43.5% in 2024 [25]. Group 4: Technological Advancements - The company has invested heavily in R&D, with 57.4 million yuan allocated in 2024, representing 23.4% of total revenue [24]. - Yunji Technology has developed a new generation of robots, the UP series, which can use tools, understand task distribution, and collaborate in groups [21][22]. - The company is recognized as one of the first to launch a fully autonomous closed-loop learning system for service intelligent agents, enhancing its technological capabilities [22]. Group 5: Market Expansion and Future Prospects - Yunji Technology is focusing on expanding into international markets, particularly in developed regions and emerging markets, to capitalize on the growing demand for robots in various sectors [35][36]. - The company is also integrating its robots into delivery systems to reduce reliance on human labor and improve delivery efficiency [37]. - The overall market for humanoid robots is expected to grow significantly, with projections indicating a market size of 2.03 billion USD in 2024, reaching 13.25 billion USD by 2029 [32].