Core Viewpoint - Hangzhou Yundongchu Technology Co., Ltd. (referred to as "Yundongchu") has initiated its IPO counseling with CITIC Securities as the advisory institution, marking it as the third company among the "Hangzhou Six Little Dragons" to pursue an IPO after Qunhe Technology and Yushut Technology [3][18]. Company Overview - Founded in 2017 by Zhejiang University alumni Zhu Qiuguo and Li Chao, Yundongchu aims to bring robots out of the laboratory and into everyday life, with a vision inspired by a Tang poem [4][21]. - The company launched its first-generation quadruped robot, "Jueying," which was the first domestically developed robot capable of climbing stairs and autonomous navigation [21][22]. Technological Development - The turning point for Yundongchu came in 2020 when Southern Power Grid approached the company to use its robots for substation inspections, leading to the gradual expansion of its applications in the power inspection sector [21]. - In 2021, Yundongchu introduced the Jueying X20, achieving an IP66 protection rating, making it the first quadruped robot suitable for industrial applications in China, with costs only 1/3 to 1/2 of similar products from Boston Dynamics [22][24]. Product Expansion - Yundongchu is expanding its product line to include humanoid robots and wheeled robots, with plans to launch its first humanoid robot, Dr.01, in 2024 and a medium-sized wheeled robot, M20, in April 2025 [24]. - The company has successfully implemented over 600 industry projects across various sectors, including energy, emergency response, security, education, construction, and entertainment [24]. Investment and Financing - Yundongchu has completed multiple rounds of financing, including a recent Pre-IPO round led by the National Artificial Intelligence Industry Fund, with participation from JD.com [27]. - The company has raised significant capital through various funding rounds, including nearly 5 billion RMB in a Pre-C round and over 5 billion RMB in a C round, indicating strong investor confidence in its technology and market potential [26][27]. Industry Context - The emergence of Yundongchu and other "Zhejiang University system" companies reflects a growing trend in China's innovation narrative, with a notable increase in entrepreneurial activity among its alumni [18][28]. - The "Zhejiang University system" has produced several successful startups, contributing to a robust entrepreneurial ecosystem supported by a strong alumni network and investment from various funds [30].

Core Viewpoint - The article highlights the significant growth and investment potential of Hangzhou-based robotics company Yun Shen Chu, which is preparing for an IPO and has shown impressive revenue growth in the quadruped robot market, positioning itself as a key player in the industry after Yushu Technology [3][4][8]. Company Overview - Yun Shen Chu was founded in 2017 by Dr. Zhu Qiuguo and Dr. Li Chao, focusing on high-dynamic balance robotic products, including quadruped, humanoid, and wheeled robots [7]. - The company has launched several products, including the "Jueying" series of quadruped robots, which have applications in various industries such as energy, emergency response, and education [8]. Financial Performance - Yun Shen Chu has completed seven rounds of financing, with the latest round in July 2023 raising nearly 500 million yuan, indicating strong investor interest [3][4]. - The company’s annual revenue is reported to be in the range of several hundred million yuan, with expectations of over 100% growth in 2024 compared to 2023 [4][8]. Market Dynamics - The domestic quadruped robot market has seen explosive growth, with sales increasing from less than 2000 units in 2019 to 18,000 units in 2023, reflecting a compound annual growth rate of 94.4% [8]. - The market size is projected to grow from under 1 billion yuan to 7.55 billion yuan by 2024, with expectations to exceed 5 billion yuan by 2030 [8]. Investment Landscape - The article notes that several companies, including Yun Shen Chu, Yushu Technology, and Qiangnao Technology, are part of a group referred to as the "Hangzhou Six Dragons," all of which are preparing for IPOs and have received significant backing from state-owned and insurance capital [10][12]. - The involvement of at least 38 insurance institutions in the funding of these companies indicates a shift in investment strategies towards early-stage technology firms [14][15].