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AMC Robotics Corp

AMCI
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Business Summary

AMC Robotics Corporation (the "Company") operates in the vision AI technology sector, focusing on making the world safer through high-quality, affordable, and accessible solutions. The Company's core business model revolves around two primary revenue streams: product sales and revenue-sharing arrangements with related parties . Product sales include smart hardware products such as smart cameras, driving recorders, action cameras, and Retina K cameras, designed for residential and commercial use . These products are primarily distributed through e-commerce platforms across the United States, Canada, and Europe . The revenue-sharing arrangements involve cloud-based services and intelligent information services, such as video storage, image analysis, and alert and detection functionalities, provided by its related party, Kami Vision Incorporated ("Kami") . The Company does not currently provide integrated security products or subscription-based services directly to end users .

The Company's product portfolio includes security cameras like the YI Dome Guard, Home Camera, and Outdoor Camera, which are sourced from suppliers in Asia . While the Company does not directly manufacture its products, it works closely with related-party suppliers to ensure product quality, compliance, and timely delivery . The Company does not currently develop software or technology features internally, relying on third-party partners or service providers for software functionality associated with its products . The Company intends to expand its product offering to include additional AI-based intelligent devices such as wearable devices, including AI glasses, drones, and AI robots, as well as related functionality and features for these products .

For the fiscal year ended December 31, 2025, the Company reported total revenue of $5,980,847 , a decrease of 41% from $10,200,957 in 2024 . Cost of revenue significantly decreased by 67% to $3,127,699 in 2025 from $9,544,977 in 2024 . This led to a substantial increase in gross profit to $2,853,148 in 2025 from $655,980 in 2024 , with gross margin expanding from 6% in 2024 to 48% in 2025 . Operating loss improved to $505,166 in 2025 from $2,553,974 in 2024 . However, the Company reported a net loss of $24,817,342 in 2025, a significant increase from a net loss of $776,960 in 2024 . This larger net loss was primarily due to a non-cash loss of $25,549,272 from the change in fair value of the PIPE warrant liability . Cash and cash equivalents increased significantly to $7,004,601 in 2025 from $358,887 in 2024 .

The year-over-year financial performance reflects a strategic shift. Product revenue decreased by $5,093,425, or 68%, from $7,439,899 in 2024 to $2,346,474 in 2025 . Conversely, product revenue from related parties increased by 8,126% to $515,756 in 2025 from $6,270 in 2024 . Revenue share from related parties increased by 13% to $3,118,617 in 2025 from $2,754,788 in 2024 . The introduction of intelligent information services in 2025 contributed $222,661 in revenue . The significant reduction in cost of revenue was driven by a decrease in inventory impairment losses from approximately $1.3 million in 2024 to approximately $0.16 million in 2025 . Operating expenses saw a 5% increase overall, from $3,209,954 in 2024 to $3,358,314 in 2025 , with general and administrative expenses increasing by $496,615, or 23%, to $2,687,250 in 2025 , while sales and marketing expenses decreased by $1,413,059, or 70%, to $612,992 . Research and development expenses also declined by $197,342, or 77%, to $58,072 .

During the reported period, the Company completed a business combination with AlphaVest Acquisition Corp. in December 2025, becoming publicly listed as AMC Robotics Corporation . This transaction was accounted for as a reverse recapitalization . Concurrently, a PIPE financing generated gross proceeds of $8,000,000, and the Company issued 2,240,000 PIPE warrants . The Company also terminated contractual arrangements with its Variable Interest Entities (VIEs), Shanghai Xiaoyun Technology Limited and Kunshan Yishijue Technology Limited, on December 1, 2025, leading to their deconsolidation . The ownership of the Amazon store North America was successfully transferred to AMC from Ants Technology (HK) Limited ("Ants") effective January 9, 2025 .

Business Outlook

The Company intends to maintain its recurring revenue streams from existing product sales while gradually transitioning its business focus toward the development and deployment of autonomous robotic systems and intelligent security solutions. Management expects this shift in business model to result in improved revenue margins and support the long-term growth and success of the Company's operations .

A major growth area for the Company is the expansion of its product offering to include additional AI-based intelligent devices. These include wearable devices, such as AI glasses, drones, and AI robots, along with related functionality and features . These initiatives are currently in the early stages of development and are intended to support potential future applications across commercial and industrial use cases . The Company is also evaluating the development of next-generation technology platforms to enhance the functionality of its hardware products, incorporating AI-based capabilities like data processing, application interfaces, and improved user interaction features . However, these platforms are still under development and not yet commercially available .

The Company plans to expand its ecosystem of partners and develop new channels in areas such as shopping mall management, parking lots, senior care management, and building construction . This channel expansion is a key go-to-market strategy aimed at maintaining market position and expanding into new market opportunities . The Company may also selectively pursue future acquisitions of businesses, technologies, or products that complement its platforms or align with its overall growth strategy, which could expand its team, technology portfolio, add new features, accelerate innovation, or help access attractive markets .

In terms of operational outlook, the Company's financial performance for 2025 reflects a transition from a revenue-driven model to a margin and efficiency-driven model . The significant gross margin expansion from 6% in 2024 to 48% in 2025 indicates improved cost discipline and reduced exposure to inventory-related inefficiencies . Management expects that the shift towards higher-margin revenue-sharing and service-based revenue streams will continue to improve profitability . The Company has implemented strategies to address supply chain risks, including diversifying its supplier base by expanding partnerships with multiple suppliers to reduce reliance on any single source, and seeking to better manage its inventory by increasing the amount of parts and accessories purchased when placing purchase orders .

The Company's capital allocation plans include continued investment in research and development efforts to expand the capabilities of its technology, primarily focused on robotics-related technologies and enhancements to its hardware products . These R&D efforts are at an early stage, and the Company has not yet committed to a definitive development timeline or commercialization plan . Management believes that the Company's current cash position of approximately $7.0 million , together with expected operating cash flows, will be sufficient to meet its working capital requirements and capital expenditure needs for at least the next twelve months .

Risk Factors

The Company faces several material risks, including significant reliance on related-party transactions, with Kami Vision Incorporated contributing approximately 52% of total revenues in 2025 and 79% of accounts receivable as of December 31, 2025 . This concentration exposes the Company to potential collection risks and increased vulnerability to economic downturns or operational disruptions affecting Kami . The Company has a history of net losses, incurring a net loss of $24,817,342 for the year ended December 31, 2025 , and there is no assurance that future capital raises will be sufficient to support ongoing operations . Material weaknesses in internal control over financial reporting have been identified, including a lack of experienced accounting staff, insufficient duty segregation, inadequate inventory management, and a lack of formal approval for related-party transactions . The Company is exposed to price fluctuations of hardware costs, which accounted for 78% of the final price sold in the market in 2025 , and relies on a limited number of related-party suppliers for 100% of its inventory purchases . The market is highly competitive, with larger technology companies actively targeting home automation, security monitoring, and video monitoring markets, potentially leading to price reductions and loss of market share . The Company's ability to compete depends on its ability to develop new products and penetrate new markets, and any failure to do so could hinder revenue growth . Furthermore, the Company relies on wireless carriers for network access, and any interruption could impair its business . Security incidents, technology disruptions, or failure to comply with data privacy laws could damage brand reputation, result in financial penalties, and legal liability . The technology employed in its products may become obsolete, requiring significant capital expenditures to update . The Company's ability to continue utilizing the "YI" brand name, which is used in almost all products, is only secured until October 22, 2026 . Geopolitical conditions, including international conflicts and trade disputes, particularly with the PRC where certain operations and suppliers are located, could disrupt operations and financial results . The PRC government may exercise oversight over the Company's business, and changes in PRC laws and regulations, especially concerning data security and foreign investment, could adversely impact operations and the value of its securities .

Management Priorities

Management's message to shareholders emphasizes a strategic transformation towards a more sustainable and capital-efficient operating model, prioritizing profitability and cost efficiency over top-line revenue growth. The Company aims to maintain recurring revenue streams from existing product sales while gradually shifting its focus to the development and deployment of autonomous robotic systems and intelligent security solutions, expecting this transition to result in improved revenue margins and long-term success . Key strategic priorities include expanding its product offerings to include AI-based intelligent devices such as wearable devices, drones, and AI robots, and enhancing existing hardware products with AI-based capabilities . Management also highlights the intent to expand its ecosystem of partners and develop new channels in areas like shopping mall management, parking lots, and senior care management . The Company may also pursue selective strategic acquisitions to complement its platforms or align with its growth strategy . Management believes that the Company's current cash position, along with expected operating cash flows, will be sufficient to meet working capital and capital expenditure needs for at least the next twelve months .

View Source Annual Report on SEC.gov ↗

References

  1. [1] Item 1, Business — Sales
  2. [2] Item 1, Business — Overview
  3. [3] Item 1, Business — Products
  4. [4] Item 1, Business — Sales
  5. [5] Item 1, Business — Overview
  6. [6] Item 1, Business — Products
  7. [7] Item 1, Business — Manufacturing and Sourcing
  8. [8] Item 1, Business — Manufacturing and Sourcing
  9. [9] Item 1, Business — Products
  10. [10] Item 7, MD&A — Executive Summary of Financial Performance
  11. [11] Item 7, MD&A — Executive Summary of Financial Performance
  12. [12] Item 7, MD&A — Executive Summary of Financial Performance
  13. [13] Item 7, MD&A — Executive Summary of Financial Performance
  14. [14] Item 7, MD&A — Cost of Revenue and Gross Profit
  15. [15] Item 7, MD&A — Executive Summary of Financial Performance
  16. [16] Item 7, MD&A — Executive Summary of Financial Performance
  17. [17] Item 7, MD&A — Executive Summary of Financial Performance
  18. [18] Item 7, MD&A — Executive Summary of Financial Performance
  19. [19] Item 7, MD&A — Revenue
  20. [20] Item 7, MD&A — Revenue
  21. [21] Item 7, MD&A — Revenue
  22. [22] Item 7, MD&A — Revenue
  23. [23] Item 7, MD&A — Cost of Revenue and Gross Profit
  24. [24] Item 7, MD&A — Operating Expenses
  25. [25] Item 7, MD&A — Operating Expenses
  26. [26] Item 7, MD&A — Operating Expenses
  27. [27] Item 7, MD&A — Operating Expenses
  28. [28] Item 7, MD&A — Overview
  29. [29] Item 7, MD&A — Overview
  30. [30] Item 7, MD&A — Private Investment in Public Equity ("PIPE") Financing
  31. [31] Item 7, MD&A — Overview
  32. [32] Item 1, Business — Sales
  33. [33] Item 7, MD&A — Outlook of the business models
  34. [34] Item 1, Business — Products
  35. [35] Item 1, Business — Overview
  36. [36] Item 1, Business — Platforms
  37. [37] Item 1, Business — Platforms
  38. [38] Item 1, Business — Channel Expansion
  39. [39] Item 1, Business — Strategy & Positioning
  40. [40] Item 1, Business — Pursue Selective Strategic Acquisitions
  41. [41] Item 7, MD&A — Executive Summary of Financial Performance
  42. [42] Item 7, MD&A — Cost of Revenue and Gross Profit
  43. [43] Item 7, MD&A — Cost of Revenue and Gross Profit
  44. [44] Item 1A, Risk Factors — Disruptions in the supply chain for AMC’s products could negatively impact AMC’s business.
  45. [45] Item 1, Business — Research and Development
  46. [46] Item 1, Business — Research and Development
  47. [47] Item 7, MD&A — Liquidity Overview
  48. [48] Item 7, MD&A — Liquidity Overview
  49. [49] Item 13, Certain Relationships and Related Transactions, and Director Independence — Related Party Balances
  50. [50] Item 1A, Risk Factors — We receive a substantial portion of our revenue from a limited number of service providers, and the loss of, or a significant reduction in, orders from one or more of our major service providers would result in decreased revenue and profitability.
  51. [51] Item 1A, Risk Factors — We have a history of net losses.
  52. [52] Item 1A, Risk Factors — We have a history of net losses.
  53. [53] Item 1A, Risk Factors — Failure to establish and maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business and stock price.
  54. [54] Item 1A, Risk Factors — We are exposed to risks relating to price fluctuations of hardware cost.
  55. [55] Item 13, Concentration Risk — Supplier Concentration
  56. [56] Item 1A, Risk Factors — The markets in which we participate are highly competitive and many companies, including large technology companies, are actively targeting the home automation, security monitoring and video monitoring markets. If we are unable to compete effectively with these companies, our sales and profitability could be adversely affected.
  57. [57] Item 1A, Risk Factors — If we are unable to develop new products, sell our platform and products into new markets or further penetrate our existing markets, our revenue may not grow as expected.
  58. [58] Item 1A, Risk Factors — We rely on wireless carriers to provide access to wireless networks through which we provide our wireless alarm, notification and intelligent automation services, and any interruption of such access would impair our business.
  59. [59] Item 1A, Risk Factors — Any security incident, other technology disruption, or failure to comply with laws and regulations relating to privacy and processing of personal information could result in damage to AMC’s brand and reputation, material financial penalties, and legal liability, any of which could negatively impact our business, results of operations and financial condition.
  60. [60] Item 1A, Risk Factors — The technology employed in our products may become obsolete, and we may need to incur significant capital expenditures to update our products for changes in technology.
  61. [61] Item 1A, Risk Factors — If we are unable to continue to utilize the “Yi” brand name, it could materially and adversely affect our business, financial condition and results of operations.
  62. [62] Item 1A, Risk Factors — Geopolitical conditions, including international conflicts, trade disputes and direct or indirect acts of war or terrorism, could have an adverse effect on our operations and financial results.
  63. [63] Item 1A, Risk Factors — If AMC is deemed to be a China-based company, it could have a significant impact on AMC’s business operations and the value of its securities.
  64. [64] Item 7, MD&A — Outlook of the business models
  65. [65] Item 1, Business — Products
  66. [66] Item 1, Business — Channel Expansion
  67. [67] Item 1, Business — Pursue Selective Strategic Acquisitions
  68. [68] Item 7, MD&A — Liquidity Overview

Analysis on 5/19/2026