Not my usual kind of company
I often write about Japanese and Korean companies that nobody has covered in English before. Ai Robotics is a bit different. It publishes its results and IR materials in English, and Philipp Haas, a fund manager and Substack author, has already written it up and owns the shares in his fund. On top of that, I usually avoid AI, robotics and chip stocks, but this business is not what the name suggests.
Skincare, not robots
Ai Robotics sells beauty products made by contract manufacturers. The name comes from its own software, SELL, which it says uses AI and automation to plan products, buy online ads and forecast demand. Its skincare brand Yunth is best known for a pure vitamin C serum in single-dose capsules. Under the Brighte brand it sells hair dryers and face devices, and under Straine it sells shampoo. In April the company bought BJC, which sells eyelash serum and cosmetics through about 40,000 beauty salons.
Yunth's vitamin C serum in single-dose capsules
Brighte's Shower Dryer