From hotel leader to manufacturing pioneer: YUNJI Technology (02670) partners with Luxshare Group to launch industrial-grade solutions, the first positive signal after listing is released.

In recent days, "Siasun Robot&Automation's first stock of intelligent service body" YUNJI Technology (02670) officially listed on the Hong Kong Stock Exchange. The company's issue price is HK$95.6 per share, and the stock price performed well on the first day of listing, soaring as high as 49.37% to HK$142.8, with a total market value of up to HK$9.813 billion. The real gold and silver "votes" of the capital market have fully demonstrated optimism about the company's future appreciation potential. As a scarce target among listed companies in the Siasun Robot&Automation service intelligent body market, YUNJI Technology not only leads in market share in the Siasun Robot&Automation service intelligent body sub-segment, but also is expected to turn profits in terms of performance. Recently, the global electronics manufacturing giant Luxshare Group reached a deep strategic cooperation with YUNJI Technology. The two parties will jointly promote the intelligent upgrade of Luxshare Group's global production base. YUNJI's innovative "Factory AI Intelligent Body" solution will empower Luxshare Group's global production base, with its outstanding performance in industrial environments providing a new paradigm for the digital transformation of the manufacturing industry. This cooperation also validates YUNJI Technology's AI Intelligent Body ecosystem (AIPRO) breakthrough ability from hotel services to industrial manufacturing. Against the backdrop of the industry's continuously improving prosperity, the company, by deepening its ecological layout and expanding application scenarios, is expected to open up new growth space and accelerate the release of value. The industry is entering a fast lane of large-scale commercialization, with leading companies accelerating value reevaluation. Driven by the dual forces of artificial intelligence technological innovation, deepening sustainable development concepts, and global labor shortages, the Siasun Robot&Automation industry is facing unprecedented development opportunities. According to the "World Siasun Robot&Automation Report 2025", the global industrial Siasun Robot&Automation market has doubled in scale over the past decade, reaching an installation volume of 542,000 units in 2024, maintaining a level above 500,000 units for four consecutive years, and the running stock volume has continued to growth at an annual rate of 9%, indicating the deepening penetration of the industry. In 2025, the Chinese government officially incorporated "embodied intelligence" into its government work report, marking its formal elevation to a national strategy and becoming a key direction for the future industrial nurturing. Subsequently, key cities such as Beijing, Shenzhen, Shanghai, and Hangzhou quickly responded by issuing a series of supporting policies around technology research and development, industrial cluster construction, and application scenario development, enhancing support for the embodied intelligence Siasun Robot&Automation field, and continuously releasing policy dividends. Embodied intelligence is a type of intelligent system based on physical body perception and action, emphasizing the interaction between machines and the environment. In December last year, complex multiple-form embodied intelligent Siasun Robot&Automation UP was selected as the "new form" of embodied intelligence Siasun Robot&Automation in the "Chinese Artificial Intelligence Society Series White Paper - Complex Multiple-Form Siasun Robot&Automation (2024)". This was the industry's first white paper report named "Complex Multiple-Form Siasun Robot&Automation", and also a strong affirmation of YUNJI Technology's creation of a new form of embodied intelligence in terms of technological innovation and application value dimensions. The report points out: "Complex multiple-form Siasun Robot&Automation, as a type of Siasun Robot&Automation that emerges with the demand, is an inevitable trend in technological development and a choice of the market for performance and advantages. Its design concept and technological implementation are continuously promoting the development of embodied intelligence, becoming one of the ways of embodied intelligence. Complex multiple-form Siasun Robot&Automation UP, based on the innovative design of "one machine with multiple functions, time-sharing reuse", integrates mobile and operational dual capabilities, and can flexibly switch between different task scenarios, providing a new technological path and application model for the construction of a smart city. In the wave of rapid growth of embodied intelligence, as an industry leader who has successfully positioned itself, YUNJI Technology's first-mover advantage is continuously highlighting. According to Frost & Sullivan data, YUNJI Technology holds a 6.3% share in the Chinese Siasun Robot&Automation service intelligent body market, and reaches 13.9% in the hotel sub-scene, ranking first in the industry in both areas. At the same time, the company's three-dimensional multi-layer spatial simultaneous online Siasun Robot&Automation reaches an average daily quantity of 27,000 units, serving a cumulative total of over 230 million consumers, also ranking first in the industry. The large operating scale has accumulated a vast amount of high-quality scene data for the company, which continuously feeds back into its AI intelligent body system - HDOS, driving the system to achieve full-link intelligence from environmental perception, intent recognition, intelligent decision-making to autonomous execution, and closed-loop feedback. Taking the hotel scene as an example, under the intelligent scheduling of the HDOS system, YUNJI Technology's Siasun Robot&Automation has transitioned from "executing fixed commands" to "actively coordinating resources". They no longer just complete single delivery tasks but can autonomously schedule elevators, coordinate equipment, link service personnel, and even predict changes in customer demand during peak periods. While optimizing service experiences, they significantly improve overall operational efficiency. This leap in capability from "passive response" to "active anticipation" is redefining the role of Siasun Robot&Automation in the service industry. It is understood that as of May 31, 2025, YUNJI Technology's service network has covered over 34,000 hotels and 150 hospitals worldwide, with customers including well-known hotel groups such as Marriott, InterContinental, Hyatt, Jinjiang, and Yado. This large and high-quality customer ecosystem not only lays the foundation for the company's future sustained profitability but also builds an irreplicable competitive moat. Diversified application scenarios accelerate expansion, and the profit path is becoming increasingly clear. The capital market's enthusiasm for YUNJI Technology stems from a consistently positive performance at the fundamental level. Several core financial indicators show that the company has crossed the critical point of breaking even and is on the eve of scaling up profitability from the validation phase of the business model. Financial data is the most direct indicator of this trend. In 2024, the company achieved operating income of RMB 2.45 billion, a significant increase of 68.6% year-on-year, with a compound growth rate of 23.2% from 2022 to 2024, showing a steady growth momentum; in the first five months of 2025, revenue continued to grow rapidly, reaching a total of RMB 88.33 million, an 18.9% increase year-on-year. The improvement in profitability is also remarkable. From 2022 to 2024, the company's net loss significantly narrowed from RMB 365 million to RMB 185 million, a reduction of nearly 50%, while the gross profit margin rose from 24.3% in 2022 to 43.5% in 2024, demonstrating a clear path to profitability. At the same time, the company's operational efficiency continues to improve, and the cash flow situation is also improving. The proportion of sales costs to revenue dropped from 75.7% in 2022 to 56.5% in 2024, a decrease of 19.2 percentage points; the net cash flow from operating activities in 2024 was -RMB 41.482 million, a significant narrowing from -RMB 76.37 million in the previous year, accelerating the formation of self-generation. Behind the impressive performance of the financial reports, YUNJI Technology's business model is also entering a key transformation stage from a single hardware sales model to an integrated solution of "hardware + software + services." It is learned that in 2024, the proportion of revenue from AI digital systems reached 22.8%, with a significantly higher gross profit margin than the hardware business, indicating the company's continuous enhancement of risk resistance. In terms of product strategy, while consolidating its leading position in the hotel scene with the previous "Run" series Siasun Robot&Automation and the second-generation "Gege" series, the company's newly launched UP series has modular design capabilities, allowing for rapid adaptation of functional modules according to different scenario needs, showing a strategic evolution from "dedicated Siasun Robot&Automation" to "universal platform." From 2023 to 2024, YUNJI Technology successfully launched multiple smart building projects, expanding its business into diverse commercial application scenarios such as security, cleaning, and delivery. From the perspective of the company's fundamentals, YUNJI Technology has solidly completed the business landing from "0 to 1" and officially stands at the starting line of scaling up from "1 to N." The future improvement of the company's performance and value is expected to proceed smoothly. Currently, with the strong tailwind of industry policies and the capital and brand empowerment brought about by the listing, YUNJI Technology is expected to further accelerate its development pace, speed up its profitability, and usher in a new stage of high-quality growth. For investors, this is a rare opportunity to position themselves in the industry leaders and share in the growth dividends.