Digitization of China’s hospitality sector is boosting demand for related robots, providing fertile ground for the company’s products
Key Takeaways:
- Yunji Technology has filed to list in Hong Kong, reporting its revenue grew nearly 70% last year
- The maker of robots for the hospitality sector boasts a star-studded list of early investors, including tech giants Alibaba and Tencent
Robotic stocks are on a roll these days, fueled in part by hype from the likes of Nvidia’s celebrity CEO Jensen Huang, who has hailed the dawning of a new robotic era at several recent events. Concurrently fueling the craze are real-world developments like the imminent launch of Tesla’s humanoid robot.
The robotic frenzy has helped to boost names like Dobot Corp. (2432.HK), whose shares have been on a roll since the start of the year. Now, Beijing Yunji Technology Co. Ltd., which specializes in robots for the hospitality sector, is hoping to cash in on the craze with its own filing for a Hong Kong listing earlier this month.
The company is a relative old timer in the robotic space, established in 2014 by the trio of Hu Haijun, Hu Quan and Wu Minghui with a focus on robotics, according to its listing document. Like many private Chinese companies, Yunji is also a family affair, with Hu Haijun’s wife, Zhi Tao, as its chairman. The company’s robots cover a wide range of application scenarios, including hotels, medical institutions, factories and communities, with a primary focus on hospitality.
China’s hospitality robotic-based AI agent market is expanding rapidly, doubling from 1.5 billion yuan ($207 million) in revenue in 2019 to 3 billion yuan in 2023, representing 18.7% annual growth, according to third-party data in the listing document. Rapid advances in AI are expected to improve the functionality and scalability of robotics, further boosting the hospitality robotic-based AI agent market …
Full story available on Benzinga.com
Digitization of China’s hospitality sector is boosting demand for related robots, providing fertile ground for the company’s products
Key Takeaways:
- Yunji Technology has filed to list in Hong Kong, reporting its revenue grew nearly 70% last year
- The maker of robots for the hospitality sector boasts a star-studded list of early investors, including tech giants Alibaba and Tencent
Robotic stocks are on a roll these days, fueled in part by hype from the likes of Nvidia’s celebrity CEO Jensen Huang, who has hailed the dawning of a new robotic era at several recent events. Concurrently fueling the craze are real-world developments like the imminent launch of Tesla’s humanoid robot.
The robotic frenzy has helped to boost names like Dobot Corp. (2432.HK), whose shares have been on a roll since the start of the year. Now, Beijing Yunji Technology Co. Ltd., which specializes in robots for the hospitality sector, is hoping to cash in on the craze with its own filing for a Hong Kong listing earlier this month.
The company is a relative old timer in the robotic space, established in 2014 by the trio of Hu Haijun, Hu Quan and Wu Minghui with a focus on robotics, according to its listing document. Like many private Chinese companies, Yunji is also a family affair, with Hu Haijun’s wife, Zhi Tao, as its chairman. The company’s robots cover a wide range of application scenarios, including hotels, medical institutions, factories and communities, with a primary focus on hospitality.
China’s hospitality robotic-based AI agent market is expanding rapidly, doubling from 1.5 billion yuan ($207 million) in revenue in 2019 to 3 billion yuan in 2023, representing 18.7% annual growth, according to third-party data in the listing document. Rapid advances in AI are expected to improve the functionality and scalability of robotics, further boosting the hospitality robotic-based AI agent market …
Full story available on Benzinga.com
Digitization of China’s hospitality sector is boosting demand for related robots, providing fertile ground for the company’s products
Key Takeaways:
Yunji Technology has filed to list in Hong Kong, reporting its revenue grew nearly 70% last year
The maker of robots for the hospitality sector boasts a star-studded list of early investors, including tech giants Alibaba and Tencent
Robotic stocks are on a roll these days, fueled in part by hype from the likes of Nvidia’s celebrity CEO Jensen Huang, who has hailed the dawning of a new robotic era at several recent events. Concurrently fueling the craze are real-world developments like the imminent launch of Tesla’s humanoid robot.
The robotic frenzy has helped to boost names like Dobot Corp. (2432.HK), whose shares have been on a roll since the start of the year. Now, Beijing Yunji Technology Co. Ltd., which specializes in robots for the hospitality sector, is hoping to cash in on the craze with its own filing for a Hong Kong listing earlier this month.
The company is a relative old timer in the robotic space, established in 2014 by the trio of Hu Haijun, Hu Quan and Wu Minghui with a focus on robotics, according to its listing document. Like many private Chinese companies, Yunji is also a family affair, with Hu Haijun’s wife, Zhi Tao, as its chairman. The company’s robots cover a wide range of application scenarios, including hotels, medical institutions, factories and communities, with a primary focus on hospitality.
China’s hospitality robotic-based AI agent market is expanding rapidly, doubling from 1.5 billion yuan ($207 million) in revenue in 2019 to 3 billion yuan in 2023, representing 18.7% annual growth, according to third-party data in the listing document. Rapid advances in AI are expected to improve the functionality and scalability of robotics, further boosting the hospitality robotic-based AI agent market …Full story available on Benzinga.com Read MoreAsia, contributors, Equities, IPOs, Opinion, Markets, Tech, Equities, Asia, IPOs, Opinion, Markets, Tech, Benzinga Markets
