From hotel leader to manufacturing pioneer: YUNJI Technology collaborates with Luxshare Precision to implement industrial-grade solutions, sending a strong positive signal in its first post-listing announcement

Recently, "the first stock of robot service intelligent agents" YUNJI Technology (02670) officially landed on the Hong Kong Stock Exchange. The company's issue price was HKD 95.6 per share, and the stock price performed brilliantly on its first day of trading, soaring 49.37% at the highest point during the opening, reaching HKD 142.8, with a maximum market capitalization of HKD 9.813 billion. The capital market's "vote" with real money has fully indicated optimism about the company's future appreciation potential.

As a rare listed company in the robot service intelligent agent sector, YUNJI Technology not only leads in market share in the subfield of robot service intelligent agents but is also about to welcome favorable conditions for turning losses into profits at the performance level.

Recently, global electronic manufacturing giant Luxshare Precision and YUNJI Technology reached a deep strategic cooperation. The two parties will jointly promote the intelligent upgrade of Luxshare's global production bases. YUNJI's innovative "Factory AI Intelligent Agent" solution will fully empower Luxshare's global production bases, with its system demonstrating outstanding performance in industrial environments, providing a new paradigm for the digital transformation of the manufacturing industry. This cooperation also verifies YUNJI Technology's AI Intelligent Agent ecosystem (AIPRO) capability to break through across scenarios from hotel services to industrial manufacturing.

Against the backdrop of continuous improvement in industry prosperity, the company is expected to open new growth spaces and accelerate value release through continuous deepening of ecological layout and expansion of application scenarios.

The industry enters the "fast lane" of large-scale commercial use, leading enterprises accelerate value reassessment

Driven by the dual forces of technological innovation in artificial intelligence, deepening sustainable development concepts, and global labor shortages, the robotics industry is ushering in unprecedented development opportunities. According to the "World Robotics Report 2025," the global industrial robot market has doubled in scale over the past decade, with an installation volume of 542,000 units in 2024, maintaining a high level of over 500,000 units for four consecutive years, and the operating stock continues to rise at an annual growth rate of 9%, indicating a deepening industry penetration.

In 2025, the Chinese government first included "embodied intelligence" in its government work report, marking its formal elevation to a national strategy and becoming a key direction for future industry cultivation. Subsequently, key cities such as Beijing, Shenzhen, Shanghai, and Hangzhou quickly responded, intensively introducing supporting policies to increase support in various aspects such as technological breakthroughs, industrial cluster construction, and application scenario development, continuously releasing policy dividends in the field of embodied intelligent robots.

Embodied intelligence is an intelligent system based on physical bodies for perception and action, emphasizing the interaction capability between machines and the environment. In December last year, the composite polymorphic robot UP was selected as a "new form" of embodied intelligent robots in the "White Paper Series of the Chinese Association for Artificial Intelligence - Composite Polymorphic Robots (2024)," marking the first white paper report named "Composite Polymorphic Robots" in the industry, and strongly affirming YUNJI Technology's pioneering of a new form of embodied intelligence in terms of technological innovation and application value. The report pointed out: "Composite polymorphic robots, as a type of robot born out of demand, are an inevitable trend of technological development and a choice of the market for performance and advantages, with their design concepts and technological implementations continuously promoting the development of embodied intelligence." One of the pathways to embodied intelligence. The multi-functional robot UP, based on the innovative design of "one machine with multiple functions and time-sharing reuse," integrates both mobility and operational capabilities, allowing for flexible switching between different task scenarios, providing a new technological path and application model for smart city construction.

In the rapid growth wave of embodied intelligence, as an industry leader that has successfully positioned itself, YUNJI Technology's first-mover advantage is becoming increasingly prominent.

According to Frost & Sullivan data, YUNJI Technology holds a 6.3% share of the robot service intelligent body market in China, reaching 13.9% in the hotel segment, both ranking first in the industry; at the same time, the average daily number of the company's three-dimensional multi-layer space robots online reaches 27,000 units, serving over 230 million consumers cumulatively, also leading the industry. The vast operational scale has accumulated a massive amount of high-quality scenario data, which continuously feeds back into its AI intelligent system—HDOS, driving the system to achieve full-link intelligence from environmental perception, intention recognition, intelligent decision-making to autonomous execution and closed-loop feedback.

Taking the hotel scenario as an example, under the intelligent scheduling of the HDOS system, YUNJI Technology's robots have achieved a leap from "executing fixed instructions" to "actively coordinating resources." They no longer merely complete single delivery tasks but can autonomously schedule elevators, coordinate equipment, link with service personnel, and even predict changes in customer demand during peak periods, significantly enhancing overall operational efficiency while optimizing service experience. This leap from "passive response" to "active anticipation" is redefining the role of robots in the service industry.

According to the Zhito Finance APP, as of May 31, 2025, YUNJI Technology's service network has covered over 34,000 hotels and 150 hospitals worldwide, with a client list that includes well-known hotel groups such as Marriott, InterContinental, Hyatt, Jin Jiang, and Atour. This large and high-quality customer ecosystem not only lays the foundation for the company's future sustainable profitability but also builds a competitive moat that is difficult to replicate.

Accelerating Expansion of Diverse Application Scenarios, Profitability Path Becoming Clearer

The capital market's enthusiasm for YUNJI Technology stems from a continuously improving fundamental performance report. Multiple core financial indicators show that the company has crossed the critical point of breakeven and is moving from the commercial model validation phase to the eve of scaled profitability.

Financial data is the most intuitive indicator of this trend. In 2024, the company achieved operating revenue of 245 million yuan, a substantial year-on-year increase of 68.6%, with a compound annual growth rate of 23.2% from 2022 to 2024, demonstrating robust growth momentum; in the first five months of 2025, revenue continued to grow rapidly, achieving total revenue of 88.33 million yuan, a year-on-year increase of 18.9%.

The improvement in profitability is also noteworthy. Between 2022 and 2024, the company's net loss significantly narrowed from 365 million yuan to 185 million yuan, a reduction of nearly 50%, while the gross profit margin climbed from 24.3% in 2022 to 43.5% in 2024, showcasing a clear path to profitability.

At the same time, the company's operational efficiency continues to improve, and cash flow conditions are also improving. The proportion of sales costs to revenue decreased from 75.7% in 2022 to 56.5% in 2024, a drop of 19.2 percentage points; In 2024, the net cash flow from operating activities was -41.482 million yuan, significantly narrowing from -76.370 million yuan the previous year, indicating an accelerated formation of self-sustaining capabilities.

Behind the impressive performance in the financial report, YUNJI Technology's business model is entering a critical transformation phase from a single hardware sales model to an integrated solution of "hardware + software + services." According to Zhitong Finance APP, in 2024, the revenue share of AI digital systems reached 22.8%, with gross margins significantly higher than hardware business, marking a continuous enhancement of the company's risk resistance capabilities.

In terms of product strategy, while the previous "Run" series robots and the second-generation "Gege" series consolidated the leading position in hotel scenarios, the newly launched UP series features modular design capabilities, allowing for rapid adaptation of functional modules based on different scenario needs, demonstrating a strategic evolution from "specialized robots" to "general platforms." From 2023 to 2024, YUNJI Technology successfully implemented multiple smart building projects, expanding its business into diversified commercial application scenarios such as security, cleaning, and delivery.

From a fundamental perspective, YUNJI Technology has solidly completed the commercial landing from "0 to 1" and is officially at the starting line for scaling up from "1 to N." The future improvement in the company's performance and value will naturally follow.

Currently, with favorable industry policies and the capital and brand empowerment brought by its listing, YUNJI Technology is expected to further accelerate its development pace, speed up its profitability, and enter a new stage of high-quality growth. For investors, this is also a rare opportunity to position themselves in industry leaders and share in the growth dividends