BRIEF: Robot developer Yunji Tech to raise $85 million in Hong Kong IPO

AI-powered robotics and service automation firm Beijing Yunji Technology Co. Ltd. (2670.HK) launched its Hong Kong IPO on Wednesday, aiming to raise about HK$660 million ($85 million) by selling 6.9 million shares for HK$95.60 each. The shares are set to make their trading debut on Oct. 16.

Yunji develops and makes service robots and functional modules integrated with AI digital systems, focusing on intelligent robotics solutions. Its products are used across various service scenarios, with hotels contributing the majority of its revenue. In 2024, hotel-related revenue reached 200 million yuan, up 47% year-on-year, accounting for 83% of the company’s total. Yunji’s revenue last year totaled 240 million yuan, up 68.6% year-on-year, while its net loss narrowed by about 30% to 180 million yuan.

Yunji has completed eight funding rounds, attracting investors such as Lenovo Capital, Alibaba, Tencent and Trip.com. Assuming the over-allotment option is not exercised, Lenovo Capital, Alibaba, Tencent, and Trip.com will hold 3.8%, 2.65%, 8.18%, and 2.42% of Yunji’s shares, respectively, after the listing, according to the prospectus.

The company plans to spend around 60% of the IPO proceeds on R&D and 30% on its commercialization efforts in China and overseas, particularly in hospitals, factories, and commercial buildings. It will use the remaining 10% for working capital and general corporate purposes.

By Lee Shih Ta

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