After 8 years and 10 rounds of financing, service robot manufacturer Yunji Technology has started to go public
Recently, Beijing Yunji Technology Co., LTD. (hereinafter referred to as “Yunji Technology”) completed the listing guidance record, with Citic Securities as the guidance agency.According to the announcement, the tutoring will run from February to May this year.If all goes well, the service robot company will be on the science innovation board this year. Is this a good opportunity for young people with extra money?Whether cloud trace technology is worth starting with should be analyzed from many aspects.Because the robot industry is in a period of rapid growth, the rapid growth of Cloud Trace technology is uncertain whether it enjoys the dividend of the expansion of the whole industry or reflects its own competitive advantages.But it is clear that most of the companies seeking to go public are for the convenience of investors to withdraw, and use the money raised in the stock market to expand rapidly and occupy the ecological niche.In terms of probability, Yunji is likely to be one of the majority of enterprises. Next, this paper analyzes whether Yunji can achieve exponential growth after listing from five dimensions when it is in the growth stage.First, the technical dimension;In the growth stage of cloud trace technology, more efforts need to be made in the extension of technology.Focus on the expansion of technology and upgrading advantages, so as to expand new application scenarios and rapidly expand the market.You don’t have to put as much emphasis on technology leadership as a startup.Because the leading technologies are fresh out of the lab, the market is far from being used.So how does Cloud Trace technology do in the technical dimension?(1) Expansion of technical advantages;In 2016, yunji’s first hotel robot was launched, and since then, it has been working in this field.Since its establishment, yunji technology team has more than 800 people, of which more than 60% are r&d personnel.The number of intellectual property applications has exceeded 1,300, including more than 800 patent applications, with invention patents accounting for more than 60% of the total number of patent applications.Among them, there are more than 400 patents related to robot mobility and iot control.Six product iterations have been completed, making the hotel service robot have more and more diversified functions, which can provide delivery, guidance, voice promotion, remote call and other services.In fact, many service robot companies have similar technology level.(2) Expansion of application scenarios;According to the website, except for the hotel delivery robot.Yunji technology has launched a smart building solution with three main functions.The first feature: users in the building have a mobile kiosk.Customers order snacks and drinks through a mini-program, which is then delivered to them by a delivery robot like a food delivery boy.The second function: the delivery boy can deliver the food to the delivery robot, and the robot can complete the delivery from downstairs to upstairs.The third function: the peripheral store products are launched, the official website does not introduce how to operate, it seems to be a version of “Meituan” around the building.This shows that the same technology of Cloud Trace technology can be applied to more fields.Scene expansion is just a signal, the choice of stronger consumption power of the office business district, the property company here also has the power to carry out intelligent transformation.It will be slower to expand to the community, but after sitting in the office market, using the product advantages that have been trained, it will naturally enter the community distribution.In terms of time, it could be after 2025 at the soonest, since that’s when the hardware and software for L4 autonomous driving will be available.Second, business dimension;1. Why do you choose hotel as landing scene of service robot?(1) The scene of the hotel is fixed, and the technical requirements of the robot are not high.Hotels are usually open 24 hours a day, and there is a huge demand for cleaning and transportation. In addition, the hotel environment is usually equipped with elevators and network coverage, and the running space of robots is flat. Therefore, it is easy to make robots to serve hotels with the existing technology level.Robot manufacturers simply have to take advantage of the supply chain to provide low-cost delivery services that look high-end and sweet to hotels.(2) The hotel has intelligent power;Hotels are a heavy asset industry and have the ability to pay for service robots.At the same time, it is a labor-intensive industry with low net interest rate, so it is sensitive to cost and willing to try new technologies that can reduce costs.With various advantages, service robots quickly take root in the hotel scene.China Hotel Human Resources Survey Report (2021) has a set of data: the higher the level of hotels, the higher the staff turnover rate.Among luxury hotels, 12% had attrition rates of 41% or more.Among mid-to-high-end hotels, 6% had attrition rates of 41% or more.The loss of employees will increase the cost of recruiting and training employees.Therefore, in addition to replacing the labor of front-line employees, service robots can also ensure the standardization of enterprise services, ensure service quality and save the cost of employee recruitment and training.According to a June 2020 research report by GUANGDONG Securities Heng Seng, the penetration rate of service robots in luxury hotels is about 10%, that in high-end hotels can reach 60%, that in mid-end hotels is 50%, and that in budget hotels is lower.The number of human space that can be replaced by hotel service robots is 52,000. According to the average annual salary of 48,000 yuan in the accommodation and catering industry provided by the National Bureau of Statistics, the annual human cost can be replaced by 2.5 billion yuan.Therefore, GSC Hengsheng judges that the application of service robots in the hotel industry has a huge space for improvement in the future.It has also proved to be a win-win choice for hotels to deploy service robots. Chain hotels equipped with service robots often need only a few employees to carry out routine maintenance and inspections to keep their stores running, greatly reducing the cost of hotels.At the same time, service robots can also improve the overall service level, reduce the error rate, improve the rate of re-occupancy and occupancy rate of the hotel, the first to use service robots can form a brand and reputation advantage.Now, cloud motion of science and technology in the field of hotel service robot has occupied more than 90% market share, and abroad, in more than 20 countries and regions, become our country hotel service robot real leaders, in July 2021, the cloud motion on the list of science and technology ministry issued a third group of specialization, the new determination “little giant” enterprises.As the COVID-19 pandemic stabilizes, the China Association of Electronics expects the growth rate of world service robot sales to slow to around 27% in 2022.Ultimately, the world service robot market will surpass the $20 billion sales mark by 2023.According to the Report on The Development of China’s Robot Industry released by the China Association of Electronics, China’s service robot market reached 30.3 billion in 2021, with a higher growth rate than the world.Despite the rapid development of the market, there are still challenges in the continuous expansion of the market due to the large number of service robot manufacturers.Some manufacturers will enter the market through low – price subsidies.At the same time, some application scenarios of service robots have achieved high penetration in first-tier and second-tier cities, but their promotion to more sunken third-tier and fourth-tier cities is slower than expected.Third: team dimension;Zhi Tao, THE CEO of Yuntrace Technology, is a technologist. He has more than 10 years of working experience in sensors and automation, and has years of technical accumulation and market operation experience in industrial robots and robot indoor positioning and navigation.Hu Quan, president of Cloud Trace Technology, is a management group with 20 years of experience in enterprise management and strategic development.The company’s top two chairs, one knows technology, the other knows management.And from the beginning of the company, it is a team of two people, it can be inferred that the two like-minded, so there is almost no internal struggle for power.In terms of equity structure, the controlling shareholders and actual controllers of Yunji Technology are Zhi Tao and Hu Quan, in which Zhi Tao’s direct shareholding ratio is 9.73% and Hu Quan’s direct shareholding ratio is 7.30%. Zhi Tao and Hu Quan together directly and indirectly control 36.52% of the voting rights of the company through the employee shareholding platform and the joint action relationship.Fourth: capital dimension;Industry and commerce information shows that Since its establishment in 2014, Cloud Mark Technology has completed 10 rounds of financing, including Tencent, Lenovo Venture Capital, Ctrip, IFLYTEK, Qiming Venture Capital, China Mobile Innovation Industry Fund, as the guidance agency citic Securities is also among them.Among them, Tencent, Lenovo, boiling point capital, etc., in several rounds of financing continuous chasing.Capital is all about return on investment. At the critical point when service robots are about to be commercialized on a large scale, yuntrace technology will go public, which should be something that both the capital side and the management team are happy to see.Cloud trace technology can take the stock market to finance the money, fast racing enclosure, seize the market.Pure investment VC can take the money to leave, such as IFlytek business intersection companies can continue to hold yunji shares.Fifth: industrial dimension;After the emergence of commercial service robots around 2010, a large number of startups began to emerge in the market between 2014 and 2016.Until the past two years, under the influence of multiple factors, the commercial service robot market began to grow rapidly.One is the gradual maturity of the fusion of SLAM, radar and other multi-sensor technologies;Secondly, the maturity of supply chain and the reduction of cost brought by leasing mode;Third, since the outbreak of the epidemic in 2020, the demand for all kinds of service robots, such as contactless delivery robots and disinfection and temperature measuring robots, has begun to increase.On the official website of Yunji Technology, it is announced that its r&d personnel account for more than 60% of the total team, and it has completed six robot iterations and the prototype research and development of the third generation of robots. However, details of the supply chain of the developed products are not disclosed.The upstream of service robot industry chain mainly includes raw materials and core components.Among them, the core components mainly include intelligent chips, controllers, sensors, lidar, etc. Suppliers of these components are typical technology-driven enterprises, enjoying the maximum benefits of the whole industrial chain.The middle reaches of the industrial chain are mainly machine manufacturing and some additional operating system providers, AI engine providers, cloud system providers, etc.The downstream of the industrial chain is mainly applied in various consumption scenarios.The maturity of the robotics industry’s supply chain and the cost reduction brought about by the leasing model will be important drivers of the future growth of the service robotics industry.However, since it is not difficult to manufacture the ontology of service robots, Yunji technology seized the opportunity of service robots to tell a story, took the lead in the listing of similar enterprises, obtained a large amount of funds to expand, and consolidate its market position, which is a wise decision under the constraints of reality.From the above five dimensions, Cloud Trace technology has obvious advantages in many dimensions outside the technical dimension.First, yunji technology chose a relatively simple hotel service robot to enter, indicating that the technical level is general.The second business, according to their own technical level to select hotel services, evolve to intelligent building, can assess the situation, act according to one’s ability.On the third team, the first and second leaders of the company cooperate with each other from the start-up company to the upcoming listing. This shows that the two people are like-minded and easy to reach consensus, and there will be no infighting.It has been established for 8 years and has a team of more than 800 people, indicating that the company is cautious in team building.The fourth capital, the industry took the lead in listing, and good capital and good dispersion.They can raise money from the stock market and expand massively.In the fifth industry, the ontology manufacturing of service robots is not difficult, and there are many competitors.Thanks to its control of the supply chain, Yunmark has set up an industrial park in Shenzhen, driving down costs.To sum up, if Yunji continues to strengthen in the following two aspects, it is highly likely that Yunji will become the leading enterprise of service robot companies.First, improve the supply chain advantages of manufacturing robots and reduce costs.Second, we need to expand massively to capture the market.At present, Cloud Trace technology has obvious advantages in the field of service robots, and its follow-up development needs continuous attention.