The inaugural meeting of Yuntian Lifeike Innovation Board: the AI track is reported frequently

In the evening of August 6, according to the review results of the municipal party committee meeting on the science and technology innovation board released by the Shanghai Stock Exchange, Shenzhen Yuntian Lifei Technology Co., Ltd. (hereinafter referred to as “Yuntian Lifei”) was approved for the first time, and CITIC Securities was its sponsor.
According to the prospectus, the proposed amount of the IPO of Yuntian Lifei is 3 billion yuan, of which the investment in the supplementary working capital project is 1.4 billion yuan. The urban AI computing center and smart application research and development project, the scenario-oriented next-generation AI technology research and development project, and the vision computing AI chip project based on neural network processors are proposed to raise 800 million yuan, 300 million yuan and 500 million yuan respectively.
According to the prospectus, the main business income of Yuntian Lifei in 2018, 2019 and 2020 was 133 million yuan, 230 million yuan and 420 million yuan respectively, and the net profit attributable to the parent company was – 195 million yuan, – 500 million yuan and – 936 million yuan respectively. By the end of 2020, the company had not yet made profits and had a large amount of uncovered losses, mainly because its business was in a rapid expansion period, the scale of operating income was relatively small, and the investment in research and development funds was large.
The main revenue sources of Yuntian Lifei are digital city operation management and intelligent upgrading of residential life. In 2018, 2019 and 2020, the comprehensive gross profit rate of the company’s main business was 56.35%, 43.57% and 35.59% respectively, decreasing year by year and lower than the industry average level in the same period. Yuntian Lifei said that the gross profit margin of the two main businesses decreased year by year due to the high cost of outsourcing hardware and installation services in the solutions provided by the company.
According to the disclosure of Yuntian Lifei, from January to March 2021, the company’s operating revenue totaled 125 million yuan, with a year-on-year increase of 1282.93%; From January to June of the same year, the operating income was 316 million yuan. As of June 30, 2021, the company’s orders in hand amounted to about 278 million yuan. Among them, the projects with a large amount of money in the non intelligent security scenario include the “Intelligent Transformation Project of Shenzhen Bus Group in Guangdong Province”, the “Algorithm Test Project of Longhua Administration and Statistics Bureau in Longhua District, Shenzhen, Guangdong Province”, and the “Promotion and Construction Project of Epidemic Prevention and Control (COVID-19) Monitoring and Data Analysis Platform of Shenzhen Emergency Management Bureau”.
In terms of R&D, the R&D expenses of Yuntian Lifei in 2018, 2019 and 2020 were 146 million yuan, 200 million yuan and 219 million yuan respectively, accounting for 109.57%, 86.79% and 51.42% of the operating revenue. As of April 30, 2021, Yuntian Lifei has obtained 263 patents (including 8 overseas patents), including 170 invention patents, 21 utility model patents and 72 design patents.
Founded in August 2014, Yuntian Lifei, with artificial intelligence algorithms and chip technology as its core, provides algorithm software, chips and other self-developed core products, and can deliver its own core products, outsourced customized or standardized hardware products, installation and construction services and other packages to customers in the form of solutions according to customer needs.
On April 3, 2020, Yuntian Lifei announced the completion of the Pre-IPO round of financing of nearly 1 billion yuan. The leading investors were Yuecai Fund, Guangyuan Capital and the old shareholder Huadeng International. The participants included Tuojin Capital, CCB International, Bank of Communications International, Bank of China Yuecai, Huakong Capital, Shenbao Yiben Fund, Shenzhen Publishing Group, Huachuang Shenzhen University, Superior Sirius, Sino-US Venture Capital, etc. Yuntian Lifei said that this round of financing will be used for the continuous research and development, scenario exploration and market promotion of AI algorithms, chips and big data.
In September of the same year, Yuntian Lifei completed a strategic financing of more than 1 billion yuan. The investors were Shenzhen Special Zone Construction and Development Group, a subsidiary of Shenzhen State-owned Assets, and China Electronics International Information Service Co., Ltd. and China Electronics Financial Investment Holding Co., Ltd., a subsidiary of China Electronics Information Industry Group. After the completion of this round of financing, Special Construction Development became the largest institutional shareholder of Yuntian Lifei.
Previously, on July 20, 2021, cloud, known as one of the “AI four dragons” at the AI track, was approved for its initial listing on the Science and Technology Innovation Board. At present, artificial intelligence technology companies such as Kuangsi Technology and Geling Deep Tong are also waiting for the Science and Technology Innovation Board to hold a meeting. This year may be the first year of the listing of the artificial intelligence track.