Core Viewpoint - The article highlights the journey and achievements of Cloudy Technology, emphasizing its innovative approach in the hotel robotics sector and the importance of user experience and value in its business model [2][3][21]. Company Overview - Cloudy Technology, founded by Zhi Tao in 2014, focuses on service robots in commercial settings, particularly hotels, where it has established a significant market presence [8][10]. - The company went public on October 16, 2025, with a market capitalization of approximately HKD 7.5 billion, reflecting strong market recognition [2]. Product Development - Cloudy Technology has developed three generations of robots, achieving a 98% adaptation rate in hotel environments, significantly higher than the industry average of 70% [4][10]. - The company has introduced innovative features such as autonomous elevator button recognition and item verification codes to enhance user experience and privacy [3][4]. Market Position - Cloudy Technology holds a 13.9% market share in the hotel robotics sector, leading the industry, while the combined market share of the second to fifth competitors is only 13.5% [17]. - The company has a strong revenue composition, with over 80% of its income derived from hotel services, reaching 93.2% in the first five months of 2025 [17]. Financial Performance - Despite significant revenue growth, Cloudy Technology has not yet achieved profitability, with projected revenues of CNY 161.3 million, CNY 145.2 million, and CNY 244.8 million from 2022 to 2024, respectively [20]. - The company has faced challenges with declining average selling prices and high R&D expenditures, which reached 47.8% of revenue at one point [20][21]. Future Prospects - Cloudy Technology is exploring new market opportunities beyond hotels, including hospitals and factories, leveraging its core competencies in data, algorithms, and models [19][24]. - The company aims to transition from a hardware-centric model to an integrated solution encompassing hardware, software, and services [22][24]. - Zhi Tao envisions future robots expanding their roles beyond delivery to include functions like health diagnostics and community services [26].