The rapid advancement of single-cell transcriptomic technologies has led to the curation of millions of cellular profiles, providing unprecedented insights into cellular heterogeneity across various tissues and developmental stages. This growing wealth of data presents an opportunity to uncover complex gene-gene relationships, yet also poses significant computational challenges. We present scEMB, a transformer-based deep learning model developed to capture context-aware gene embeddings from large-scale single-cell transcriptomics data. Trained on over 30 million single-cell transcriptomes, scEMB utilizes an innovative binning strategy that integrates data across multiple platforms, effectively preserving both gene expression hierarchies and cell-type specificity. In downstream tasks such as batch integration, clustering, and cell type annotation, scEMB demonstrates superior performance compared to existing models like scGPT and Geneformer. Notably, scEMB excels in silico correlation analysis, accurately predicting gene perturbation effects in CRISPR-edited datasets and microglia state transition, identifying a few known Alzheimer's disease (AD) risks genes in top gene list. Additionally, scEMB offers robust fine-tuning capabilities for domain-specific applications, making it a versatile tool for tackling diverse biological problems such as therapeutic target discovery and disease modeling. scEMB represents a powerful tool for extracting biologically meaningful insights from complex gene expression data. Its ability to model in silico perturbation effects and conduct correlation analyses in the embedding space highlights its potential to accelerate discoveries in precision medicine and therapeutic development.