Industrial robot maker Robotphoenix Intelligent Technology Co. Ltd. (6871.HK) launched its Hong Kong IPO on Friday, with shares open for subscription through next Wednesday. The company plans to sell 24.6 million shares for HK$30.50 each, raising net proceeds of about HK$673 million ($86 million). The stock is scheduled to debut on May 18.
Robotphoenix designs and makes industrial robots and integrated robotics solutions focused on light industrial application scenarios. The company ranked fourth among domestic providers of industrial robots and related robotics solutions for light industry applications in China by 2025 revenue, according to market data in its prospectus.
The company’s revenue mainly came from large-scale integrated robotics solutions, with a focus on automation for warehouse logistics, loading and unloading applications, as well as packaging and assembly. Its revenue rose 44.5% to 387.4 million yuan last year, while its annual loss widened 113.9% to 152.9 million yuan.
Robotphoenix said it will use its IPO proceeds mainly for R&D, production expansion and overseas market development, with the remainder for supply chain investment and working capital.
By Lee Shih Ta
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