Yunji Technology, a global leader in the hospitality robotic-based AI agents market and a portfolio company of Qiming Venture Partners, has successfully debuted on the Hong Kong Stock Exchange on October 16th. Yunji Technology (SEHK:2670) was issued at HK$95.6 per share and opened at HK$142.8 per share, with a market capitalization of HK$9.81 billion.
Qiming led Yunji Technology's Series C funding round in 2021 and has continued to support the company's growth through subsequent financing round.
Founded in 2014, Yunji Technology offers adaptive and scalable robots and functional kits, complemented by services under AI digitalization system. The company primarily focuses on the development of hospitality robotic-based AI agents, intelligent and automated systems embodied on robots that integrate AI technologies to provide human-centric and end-to-end services when interacting directly with users. These agents enhance experiences and operational efficiency through continuous learning and adaptation.
Leveraging its robust products and technologies, along with a comprehensive product-service mix built for simplicity and flexibility, Yunji Technology's hospitality robotic-based AI agents are adaptable to diverse scenarios, including hotels, factories, hospitals, and buildings. To date, Yunji Technology has deployed its service robots in over 34,000 hotels worldwide. In 2024, the company's robots have reached a peak of 36,000 units operating online in a single day, completing approximately 500 million service interactions annually. Most major hotel chains have chosen Yunji Technology's robotic solutions as their first choice for intelligent upgrades, making the company the No. 1 player in China's hotel robotics market, with a market share larger than the combined total of the second to fifth competitors.
"This IPO is strong validation from the market of the commercial value of service robots, and it marks a critical milestone in our journey toward scaled deployment of hospitality robotic-based AI agents," said Tao Zhi, Founder, Chairwoman, and President of Yunji Technology. "Going forward, we'll continue strengthening our full-stack R&D capabilities in both brains and limbs, deepening our leadership in the hotel sector while expanding into new commercial verticals. We're committed to attracting world-class talent and driving deeper integration between robotics and industry-specific applications to bring intelligent services to households around the globe."
Alex Zhou, Managing Partner of Qiming Venture Partners, said, "In 2021, Qiming recognized the maturation of indoor autonomous technology and made strategic investments in high-demand markets such as the hotel sector. We have witnessed Yunji Technology effectively bridge technology and real-world applications, enhancing customer experiences through innovative robotic solutions. With this IPO, Yunji Technology is well-positioned to accelerate its expansion into global markets, while emerging technologies like embodied AI are expected to open new application opportunities. At Qiming, we remain committed to supporting exceptional companies by leveraging our global vision and industry resources, helping them push technological boundaries and deliver innovative solutions to international markets."
