YGL (1KMXC)

About YGL (1KMXC)

Established in 2014 by Shi Heng纳, YGL (1KMXC), formally known as Hangzhou Yigongli Intelligent Technology Co., Ltd., operates in the intelligent car washing sector. The company's core offering is an AI-powered, fully automated car wash system designed to provide a convenient and efficient service. This system utilizes technologies such as computer vision and intelligent decision-making to guide vehicles, recognize and wash various car models, and complete the entire process without human intervention. The service is accessible 24/7 through a mobile app, where users can locate nearby stations, make payments, and initiate the car wash. YGL's business model involves setting up these unmanned car wash stations in high-density areas like gas stations, large residential communities, and commercial complexes, catering to individual car owners. The company generates revenue by charging for each car wash, positioning itself as a time-saving and cost-effective alternative to traditional manual car washes. By November 2021, the company reported having over 8.5 million registered users and had established a presence in more than 160 cities across China and internationally, including outlets in the United States and Australia. Founder Shi Heng纳's background in artificial intelligence and robotics from his time at the University of Cambridge has been instrumental in the development of the company's technological capabilities. The company has successfully raised significant capital to fund its expansion, including a Series B round that secured hundreds of millions of yuan.