Core Viewpoint - Yunji Technology is approaching its IPO on the Hong Kong Stock Exchange, aiming to become the first hotel robot company listed there, having submitted its listing application after terminating its previous agreement with CITIC Securities for guidance on the Sci-Tech Innovation Board [1] Financial Performance - In 2022, Yunji Technology reported revenue of 235 million yuan, with over 80% derived from hotel scenarios, and projected revenues for 2023 and 2024 are 145 million yuan and 245 million yuan respectively [2] - The company experienced a 10% decline in revenue in 2023 compared to 2022, attributed to strategic adjustments in product strategy and temporary fluctuations in the development of intelligent applications [2] - The gross profit margins for 2022, 2023, and 2024 were 24.3%, 27.0%, and 43.5% respectively, while the operating losses for the same years were 365 million yuan, 265 million yuan, and 185 million yuan, totaling over 800 million yuan in cumulative losses [2] Product Sales and Trends - In 2023, Yunji Technology sold 8,285 robots, with the "UP" series showing significant growth in sales from 17 units in 2023 to 672 units in 2024, while the average selling price of the "UP" series decreased from 54,200 yuan to 22,300 yuan [4] - The "Gege" series also saw a decline in sales volume from 2,881 units in 2022 to 1,255 units in 2024, with average selling prices decreasing from 26,800 yuan to 20,800 yuan [4] Business Segmentation - Yunji Technology's business is divided into two main segments: robots and functional suites, and AI digital systems, with the former being the primary revenue driver, contributing 83.6%, 82.4%, and 77.2% of total revenue from 2022 to 2024 [5] - The AI digital systems segment, which includes the proprietary HDOS service digital operation system, has shown growth, with revenues increasing from 26 million yuan in 2022 to 56 million yuan in 2024, representing 16.4% to 22.8% of total revenue during the same period [5] Shareholder Structure - Major shareholders of Yunji Technology include prominent investors such as Alibaba, Tencent, and Ctrip, with the founder holding 36.52% of the shares [6][8] - The company has undergone multiple funding rounds since its establishment in 2014, raising over 1.2 billion yuan, with significant investments from well-known venture capital firms [7]