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].

Core Viewpoint - Stand Robot (Wuxi) Co., Ltd. has officially submitted an application for an IPO on the Hong Kong Stock Exchange, aiming to become the "first stock of industrial embodied intelligence" [1] Company Overview - Stand Robot was founded in June 2016 by alumni from Harbin Institute of Technology, with initial backing from notable institutions such as Xiaomi Smart Manufacturing and Bohua Capital [1][4] - The company specializes in industrial intelligent mobile robot solutions, focusing on smart factories across various industrial scenarios [3][4] - The founding team includes Wang Huaiqing, who left the company in 2018 to establish Qianxun Technology, and current leaders Wang Yongkun (CEO) and Li Hongxiang (CTO), both also graduates of Harbin Institute of Technology [4][5] Financing History - Stand Robot has completed multiple rounds of financing since its inception, with significant valuation increases over time. For instance, the Pre-C round in October 2021 had a post-money valuation of 21 billion yuan, while the C round in March 2023 saw a drop to 15.3 billion yuan [7][8] - The company has attracted investments from various well-known institutions, including Xiaomi Group's investment platform, Bohua Capital, and NIO Capital [8] Financial Performance - Stand Robot's revenue has shown a compound annual growth rate (CAGR) of 61.3% from 2022 to 2024, with revenues of 96 million yuan, 162 million yuan, and 251 million yuan respectively [11] - The company reported net losses of approximately 128 million yuan, 100 million yuan, and 45.14 million yuan over the same period, totaling 273 million yuan in losses [11] - The gross margin has improved significantly, rising from 12.9% in 2022 to 38.8% in 2024, an increase of nearly 26 percentage points [12] Research and Development - Stand Robot's R&D investment has decreased significantly, with a 34.74% year-on-year drop in 2024, and the proportion of R&D expenditure relative to total revenue fell from 57.7% in 2022 to 14.6% in 2024 [9][12] - The company has launched its first wheeled embodied robot, DARWIN, set to debut in 2025, featuring advanced AI algorithms [9] Market Position - According to Zhaoshang Consulting, Stand Robot ranks as the fifth largest provider of industrial intelligent mobile robot solutions globally and the second largest in the 3C and automotive sectors [9][10] - The company has served over 400 clients, with a key customer retention rate exceeding 60%, including major firms like Xiaomi Automotive and Foxconn [11]

Core Viewpoint - Stand Robot (Wuxi) Co., Ltd. aims to become the "first stock of industrial embodied intelligence" in Hong Kong, having submitted its IPO application on June 23, with notable backing from institutions like Xiaomi and NIO Capital, despite not being profitable and experiencing a decline in R&D investment ratio [1][6][10]. Company Background - Founded in June 2016 by Wang Huaqing and angel investor Luo Hong, Stand Robot focuses on providing industrial intelligent mobile robot solutions for smart factories [3][4]. - The founding team, including Wang Yongkun (Chairman and CEO) and Li Hongxiang (CTO), are all alumni of Harbin Institute of Technology [4][5]. Financing History - Stand Robot has undergone multiple financing rounds since its inception, with significant valuation changes: - Angel investment in 2016 valued at 20 million CNY post-investment - Pre-A round in 2017 valued at 80.24 million CNY post-investment - A round in 2018 valued at 140 million CNY post-investment - A+ round in 2020 valued at 150 million CNY post-investment - B round in 2020 valued at 350 million CNY post-investment - Pre-C round in 2021 valued at 2.1 billion CNY post-investment - C round in 2023 valued at 1.53 billion CNY post-investment - D round in 2024 valued at 2.1 billion CNY post-investment [8][9]. Business Performance - Stand Robot's revenue from 2022 to 2024 showed a compound annual growth rate of 61.3%, with revenues of 96 million CNY, 162 million CNY, and 251 million CNY respectively [12]. - The company reported net losses of approximately 128 million CNY, 100 million CNY, and 45.14 million CNY over the same period, totaling 273 million CNY [12]. - The gross margin improved significantly from 12.9% in 2022 to 38.8% in 2024, indicating a positive trend in profitability [12]. R&D Investment - R&D expenditures decreased significantly, with amounts of 55.52 million CNY, 56.1 million CNY, and 36.61 million CNY from 2022 to 2024, representing a 34.74% year-on-year decline in 2024 [10][13]. - The proportion of R&D investment relative to total revenue dropped from 57.7% in 2022 to 14.6% in 2024, highlighting a concerning trend in innovation investment [13]. Market Position - Stand Robot is recognized as the fifth largest provider of industrial intelligent mobile robot solutions globally and the second largest in the 3C and automotive sectors by shipment volume in 2024 [11]. - The company has served over 400 clients, with a key customer retention rate exceeding 60%, including major firms like Xiaomi, Foxconn, and OPPO [12].

Core Viewpoint - The robotics sector is experiencing significant growth, with multiple companies, including Stand Robot, preparing to enter the Hong Kong stock market amid rising interest in robotics stocks [1][3]. Group 1: Company Overview - Stand Robot, established in 2016, is a leading provider of industrial intelligent mobile robot solutions, focusing on smart factories across various industrial scenarios [3]. - The company plans to raise funds through its IPO to enhance its core technology platform, expand its sales and service network, and develop new production capabilities [2][3]. Group 2: Market Position and Technology - According to data from Zhaoshang Consulting, Stand Robot is projected to be the fifth largest provider of industrial intelligent mobile robot solutions globally by sales in 2024, and the second largest in the 3C and automotive sectors [3][4]. - Stand Robot is one of the few companies in the industry to have developed a proprietary operating system for industrial robots and has made advancements in simultaneous localization and mapping (SLAM) technology [4]. Group 3: Financial Performance - Stand Robot's revenue has shown rapid growth, increasing from 9.6 million RMB in 2022 to 25.1 million RMB in 2024, with a compound annual growth rate (CAGR) of 61.3%, significantly outpacing the market's CAGR of 26.8% [6]. - Despite the revenue growth, the company has not yet achieved profitability, with losses decreasing from 128 million RMB in 2022 to 45.1 million RMB in 2024 [7]. Group 4: Strategic Expansion - Since 2019, Stand Robot has been strategically expanding its global presence, with overseas revenue growing at a CAGR of 150% from 2022 to 2024 [7]. - The company has a diverse customer base, serving over 400 clients, including major firms like Xiaomi and Foxconn, with a customer retention rate exceeding 60% [4][5].

Core Viewpoint - Stand Robot has submitted its prospectus to the Hong Kong Stock Exchange, with significant investments from Xiaomi and other firms, despite facing operational losses in recent years [2][15]. Company Overview - Stand Robot is the fifth largest provider of industrial intelligent mobile robot solutions globally and the fourth largest for industrial embodied intelligent robots, being one of the few companies with fully self-developed stack technology [2][5]. - The company offers customized one-stop solutions for smart factories across various industrial scenarios, including a core robot technology platform, a multifunctional industrial intelligent robot product series, and the all-in-one intelligent collaborative system RoboVerse [4]. Founding and Development - Founded in 2016 by CEO Wang Yongkun, a post-90s graduate from Harbin Institute of Technology, the company has made significant technological advancements, including the development of its operating system SROS and the introduction of SLAM technology [4][10]. - Stand Robot has achieved milestones such as large-scale deliveries in the automotive sector and international expansion, exporting to Japan in 2019 [4]. Financial Performance - The company reported revenues of 96.275 million RMB, 162.166 million RMB, and 250.522 million RMB for 2022, 2023, and 2024 respectively, with a compound annual growth rate (CAGR) of 61.3% [10][11]. - Gross profits for the same years were 12.382 million RMB, 51.169 million RMB, and 97.158 million RMB, with a CAGR of 180.1% and gross margins of 12.9%, 31.6%, and 38.8% [10][11]. - Despite revenue growth, the company has faced losses of 128 million RMB, 100 million RMB, and 45.144 million RMB from 2022 to 2024, although the losses have been decreasing year-on-year [12]. Market Position - As of December 31, 2024, Stand Robot ranks second in the 3C industry and automotive sector, and fifth in the semiconductor industry for industrial intelligent mobile robot solutions by shipment volume [7][8]. Research and Development - The company has invested in R&D with expenditures of 55.5 million RMB, 56.1 million RMB, and 36.6 million RMB from 2022 to 2024 [13]. Investment and Funding - Stand Robot has completed multiple funding rounds, with a pre-IPO valuation of 2.1 billion RMB, and received a 150 million RMB investment from Xiaomi prior to its C round in 2023 [14][15]. IPO Fund Utilization - The funds raised from the IPO will be used to enhance the core robot technology platform, develop proprietary robot technologies, and strengthen domestic and international sales and service networks [16].