Source: Artificial Intelligence
From 1946, when the world's first general electronic computer was born, to 1972, when Waseda University professor Ichiro Kato released Wabot-1, the world's first full-size humanoid robot with dynamic balancing ability, humanoid robots have embarked on the road of rapid development.
In October 2022, Musk's humanoid robot Optimus Prime got a lot of attention. Just four months later, China's "first humanoid robot" will be born.
Founded in 2012, Shenzhen Youbixuan Technology Co., LTD. (hereinafter referred to as "Youbixuan Technology") is a leading enterprise in the development of humanoid robots in human size. On January 31, the company submitted a prospectus to the Hong Kong Stock Exchange to list on the main board, with Guotai Junan International acting as the sole sponsor.
Youmust Tech Walker X
For decades, computers have been the engine driving society forward. Looking ahead, artificial intelligence may become the new engine driving society forward. Among the seven major areas of China's new infrastructure construction, intelligent robots are listed as one of the most important construction projects.
Youbest's listing is a microcosm of the dream-era wave of Chinese artificial intelligence and humanoid robotics companies. And participating in China's artificial intelligence frontier hard technology innovation company landing in the capital market, is "let the robot into the thousands of households" prelude.
"To the Top" : Pioneers and ReR&D
Founded 11 years ago, Youbi Technology's first "stage appearance" was the 2016 CCTV Spring Festival Gala. In 2016, 540 Alpha 1S robots developed by Youbi Technology were included in the Guinness Book of World Records as Sun Nan danced to the song "Rush to the Top".
In fact, the Alpha robot is just one of several smart robot products from Youbi.com. As a high-tech innovative enterprise integrating the research and development, manufacturing and sales of artificial intelligence and humanoid robots, Youbechoose Technology takes humanoid robot full stack technology as the "backbone" to create a wide range of robot products and solutions.
In the exploration of humanoid robots, Youbet Technology is a worthy pioneer. According to Frost & Sullivan, Youbi.com is the first company in China to launch a commercial bipedal life-size humanoid robot, and the first company in the world to reduce the cost of a bipedal life-size humanoid robot to less than $100,000.
Cost reduction is the triumph of commercialization. Since 2017, the popular robotics company has successfully commercialized its robotics and artificial intelligence technology in the field of education.
Throughout its commercialization process: in 2016, Youbi Technology launched consumer robots and other intelligent hardware equipment; In 2017, it launched intelligent education robot and general service intelligent robot products and solutions; In 2020, we will launch intelligent logistics robot products and solutions. In 2022, we will launch smart health robot products and solutions.
As of September 30, 2022, Youbest Technology has served more than 40 countries and regions around the world, with nearly 1,000 enterprise customers, and sold 500,000 robots.
For a long time, commercialization is a must for hard technology companies, and YouBe.com technology has given its own response. In the first nine months of 2020, 2021 and 2022, YouBeTech's revenue reached 740 million, 817 million and 529 million, respectively.
The commercialization of Youbi technology cannot be separated from the emphasis on research and development. According to the prospectus, the company will spend 429 million yuan on R&D in 2020, 517 million yuan in 2021 and 325 million yuan in the first nine months of 2022, accounting for 57.9 percent, 63.3 percent and 61.4 percent of total revenue in that year, respectively.
Long-term high R&D spending pays off. Since its establishment, Youbechoose Technology has accumulated more than 1,500 patents, including more than 300 overseas patents, and has become the largest intelligent service robot solution provider in China.
Likewise, this focus on research and development has been well received by the capital markets. Since the Pro-A round of financing was launched in 2013, YoubeSelect Technology has completed 14 rounds of financing, and the institutions involved in the investment include Tencent, Qiming Chuangming, Industrial and Commercial Bank of China, CDH Investment, IIFtek, Thailand CP, Haier, Telstra, Jingzhi Home, Minsheng Securities, Citic Goldstone, Minyin International, China General Nuclear Power, Songhe Capital and many other well-known enterprises and investment institutions.
Among them, Tencent Holdings holds 6.48 percent of Youbi Technology shares, the largest institutional shareholder. Tencent has not only invested in Youbet, but has also worked deeply with the company in humanoid robotics, creating several humanoid robot products together.
After several rounds of funding, Youbet Technology has become the most prominent unicorn on the humanoid robot circuit. Today, Youmust Technology, which is about to become a listed company, carries the dream and original intention of China's intelligent robot industry.
To the future: the value of science and technology into the brilliant canvas
In recent years, with the rapid development of artificial intelligence-related technologies, the growth curve of the intelligent robot circuit has charted a graceful upward trajectory. According to Frost Sullivan, the global and Chinese intelligent service robot solutions market is expected to grow from US $22.1 billion and RMB 46.7 billion to US $67.6 billion and RMB 155.8 billion at a compound annual growth rate of 25.0% and 27.2%, respectively, from 2021 to 2026.
Behind the rapid growth of the market is a deepening Labour problem brought about by an ageing population. Speaking about why he is developing robots, Musk has repeatedly stressed that one of the biggest risks facing civilization is a shortage of manpower, and that humans should focus on brain work rather than manual labor. The appearance of Optimus Prime humanoid robot is actually to free human from simple and heavy manual labor.
Population problems are pushing society towards another productivity revolution. To promote the upgrading of productivity and achieve the goal of cost reduction and efficiency, more and more industries have begun to embrace intelligent robots. Youbet's Walker robot, for example, already provides professional services in specific Settings, including airports, banks, science museums and high-end hotels.
At present, Youbi Technology has achieved a multi-field business layout. Among them, the AI education business, which is commercialized earlier and more mature, has already accounted for more than half of the revenue of Youbi Technology, and the usage rate of intelligent robots in more and more scenes is increasing.
The ever-expanding application scenarios mean that Youbet's revenue mix tends to diversify. From 2020 to 2021, the company's revenue from logistics intelligent robot products and solutions increased by 1402.4% year-on-year; Sales from general Services intelligent robots increased 113.2 percent year on year; Revenue from consumer robots and other smart hardware devices grew more than 87.1 percent year on year in the first nine months of 2022.
Most importantly, Youbet's focus on humanoid robots is in line with the future.
Humanoid robots have the potential to break down barriers in factories, businesses and homes and become a more efficient workforce in a society where humanoid robots are more versatile than alien robots.
The commercialization of humanoid robots of all kinds has accelerated as YouBeTech has brought the cost of bipedal life-size humanoid robots down to less than $100,000. For example, compared with robots produced by Boston Dynamics and Honda's ASIMO, the "Optimus Prime" launched by Tesla in October last year has a low price point, and Xiaomi and other Chinese companies are also involved in the research and development of humanoid robots.
Humanoid robots are about to become a reality as more technology companies join the push to commercialize them. According to McKinsey's report, by 2030, about 400 million jobs will be replaced by automated robots worldwide, and calculated by 20% penetration rate, the global humanoid robot market could reach 120,000 to 16 trillion yuan.
Under this trend, intelligent robots have become one of the important construction projects of "new infrastructure", which shows that the country attaches great importance to the development of this field.
In this regard, Zhou Jian once said: "Intelligent robot is a new carrier of new infrastructure, Youbi technology intelligent robot as the carrier, artificial intelligence technology as the core, to create 'hardware + software + service + content' intelligent service ecosystem, to promote the economic and social intelligent upgrade."
Science and technology is the primary productive force. As economist Ren Zeping said, in terms of the development direction of science and technology, from the empire on which the sun never sets to the hegemony of the US dollar, no matter Britain, France, Germany, Japan and the United States have all succeeded in their rise by seizing some key opportunity of industrial revolution and eventually becoming the scientific, technological and economic center of the world.
In this productivity revolution, China is taking centre stage. As a pioneer in the field of humanoid robots in China, Youbechoose Technology is bound to carry a lot of pressure on the way forward. However, it is also because of the existence of these pressures that their achievements are not water.
Finally, to borrow a phrase from the movie The Grandmaster: "What is kung fu? It's time." only patience and focus on grinding, can bear rich fruits of science and technology. The age of intelligent robots will surely come, but who will stand in the brightest position in the industry? Time will tell.