Anyone using room service in China shouldn’t be surprised, if a robot brings them their order.
High-tech assistants are an increasingly common sight in Chinese hotels, helping with routine tasks, such as room deliveries, greeting guests, selling snacks and cleaning floors.
AI-powered robots from Beijing’s Yunji Technology are now operating in over 34,000 hotels across more than 330 cities, reflecting how rapidly these labour-saving devices are becoming mainstream.
It’s a highly competitive yet still expanding market, where lower prices and subscription models are boosting demand in mid-range and budget establishments, especially in second- and third-tier cities.
Yunji Technology executives are keen to sustain their growth momentum, raising around HK$660 million (~US$85 million) in October in an IPO in Hong Kong to help them achieve their goals.
About 60% of the IPO’s net proceeds have been earmarked for R&D. The focus will be on improving the usefulness of the company’s robots and services, while broadening their appeal in sectors beyond hospitality, including healthcare, factories and commercial buildings.
At the same time, around 30% of net proceeds will be invested in business development and marketing.
In addition to funding continued expansion at home, this money will also help establish dedicated offices overseas, as part of the pioneering company’s global aspirations.
Hong Kong is playing a key role in helping Yunji Technology turn its vision into reality.
The robotics business was able to go public in Hong Kong thanks to relatively new listing rules, called Chapter 18C. These were introduced in 2023 to help specialist technology companies with high-growth potential gain access to international capital.
Chapter 18C, together with a similar listing regime for biotech firms, has helped consolidate Hong Kong’s position as a forward-looking financial hub that is also aligned with growth driven by innovation and technology (I&T).
Hong Kong’s innovation ecosystem
Executives from Yunji Technology originally explored opportunities in Hong Kong in 2023, while taking part in InnoEX, a technology showcase organised by the Hong Kong Trade Development Council (HKTDC). This followed an invitation by the Council’s office in Beijing.
During InnoEX, the HKTDC helped promote the robotics specialist’s further integration into Hong Kong’s innovation ecosystem, facilitating meetings with the Hong Kong Productivity Council and Cyberport, a digital tech hub and AI accelerator, as well as with higher education institutions and overseas buyers.
Hong Kong’s thriving I&T network complements Yunji Technology’s existing expertise and experience, remarks the firm’s Vice President Xie Yunpeng.
“Hong Kong’s open and inclusive innovation ecosystem, and its ability to connect with the international community, make it the best testing ground to implement cutting-edge technologies.”
The company returned to InnoEX in 2024, where it discussed cooperation opportunities with The Hong Kong Polytechnic University. Later that year, the two parties agreed to set up a joint innovation lab focused on digital intelligence for the hospitality sector.
The robotics innovator also established its international business headquarters in Hong Kong in 2024, paving the way for a bigger global footprint.
The firm received a further boost this April, when the Hong Kong SAR Government named it a strategic enterprise partner. This enables additional backing to help consolidate its presence in Hong Kong and leverage the city’s unique advantages.
Furthermore, the robotics firm is keen to explore opportunities in Belt and Road regions, including ASEAN, Central Asia and the Middle East, among others.
Executives connected with potential partners, while taking part in deal-making sessions at this year’s Belt and Road Summit, an annual gathering of senior officials and business leaders co-organised by the Hong Kong SAR Government and HKTDC.
Over the next few years, the advanced technology company plans to deploy its robots and other services in more industries, at home and abroad, while further deepening collaborative efforts in the fields of AI and robotics.
“With its international headquarters in Hong Kong, Yunji Technology can fully leverage local policy support as well as the city’s innovation and technology ecosystem and internationalisation strategy,” Mr Xie says.