IPO Timeline Raw facts
Company Overview
| Stock Name | Huayan Robotics |
|---|---|
| Stock Code | 01021 |
| Company Full Name | Guangdong Huayan Robotics Co., Ltd. |
| Industry | Robotics |
| Principal Activities | We are a collaborative robotics company engaged in the research and development, production and sale of collaborative robots and core motion components for industrial automation applications. |
| Listing Date | 2026-03-30 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | Chapter 18C |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Haichuang Dazu Robot Intelligent Manufacturing Center No. 3, Erzhi Industrial Avenue Xihai Village, Beijiao Town Shunde District, Foshan City Guangdong, PRC |
| Business Address (Hong Kong) | Room 1919, 19/F Lee Garden One 33 Hysan Avenue Causeway Bay Hong Kong |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | huayan-robotics.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2980 1333 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | 18C |
|---|---|
| Offer Price | HK$ 17.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 200 shares |
| Entry Threshold | HK$ 3,400 |
| Par Value | RMB 0.2 / shares |
| Offer Period | 2026-03-20 to 2026-03-25 |
| Global Offering Shares | 92,902,600 shares |
| HK Public Offer Shares (Initial) | 4,039,400 shares (5.0%) |
| Public Offer Lots (Initial) | 20,197lots (Pool A10,098lots，Pool B10,099lots) |
| International Placing Shares (Initial) | 76,745,600 shares (95.0%) |
| Offer Ratio | ~17.48% |
| Total Shares Post-IPO | 531,479,980 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 56.0% |
| Clawback Tiers | Mechanism B: no clawback |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 1,579,344,200 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 200 | HK$ 3,400 |
| 2 lots | 400 | HK$ 6,800 |
| 3 lots | 600 | HK$ 10,200 |
| 4 lots | 800 | HK$ 13,600 |
| 5 lots | 1,000 | HK$ 17,000 |
| 6 lots | 1,200 | HK$ 20,400 |
| 7 lots | 1,400 | HK$ 23,800 |
| 8 lots | 1,600 | HK$ 27,200 |
| 9 lots | 1,800 | HK$ 30,600 |
| 10 lots | 2,000 | HK$ 34,000 |
| 15 lots | 3,000 | HK$ 51,000 |
| 20 lots | 4,000 | HK$ 68,000 |
| 25 lots | 5,000 | HK$ 85,000 |
| 30 lots | 6,000 | HK$ 102,000 |
| 35 lots | 7,000 | HK$ 119,000 |
| 40 lots | 8,000 | HK$ 136,000 |
| 45 lots | 9,000 | HK$ 153,000 |
| 50 lots | 10,000 | HK$ 170,000 |
| 100 lots | 20,000 | HK$ 340,000 |
| 150 lots | 30,000 | HK$ 510,000 |
| 200 lots | 40,000 | HK$ 680,000 |
| 250 lots | 50,000 | HK$ 850,000 |
| 300 lots | 60,000 | HK$ 1,020,000 |
| 350 lots | 70,000 | HK$ 1,190,000 |
| 400 lots | 80,000 | HK$ 1,360,000 |
| 450 lots | 90,000 | HK$ 1,530,000 |
| 500 lots | 100,000 | HK$ 1,700,000 |
| 1,000 lots | 200,000 | HK$ 3,400,000 |
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,500 lots | 300,000 | HK$ 5,100,000 |
| 2,000 lots | 400,000 | HK$ 6,800,000 |
| 2,500 lots | 500,000 | HK$ 8,500,000 |
| 3,000 lots | 600,000 | HK$ 10,200,000 |
| 3,500 lots | 700,000 | HK$ 11,900,000 |
| 4,000 lots | 800,000 | HK$ 13,600,000 |
| 4,500 lots | 900,000 | HK$ 15,300,000 |
| 5,000 lots | 1,000,000 | HK$ 17,000,000 |
| 7,500 lots | 1,500,000 | HK$ 25,500,000 |
| 10,098 lots | 2,019,600 | HK$ 34,333,200 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 5.89B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 9,035,159,660 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 8,934,686,260 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net profit RMB 17.9 million |
| Period-End Cash Balance | RMB 13 million |
| Listing Expenses | ~HK$ 92,900,000 |
| Listing Expenses / Funds Raised | ~6.8% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 5.83 |
|---|---|
| First Day Open | HK$ 6.08 |
| First Day Change | 7.37% |
| First Day Volume | 70499000.0 |
| First Day Turnover | 416887000.0 |
| Use of Proceeds | 1、約55.0%或約704.2百萬港元，將于未來五年用于提升公司的研發能力；
2、約20.0%或約256.1百萬港元，將于未來五年用于全球業務發展，強化公司的市場領導地位；
3、約15.0%或約192.1百萬港元，將于未來五年用于升級并擴建生產能力；
4、約10.0%或約128.0百萬港元，將用于營運資金及一般企業用途。 |
Underwriting Syndicate
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Clifford Chance 金杜律师事务所 亚司特律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
瑞生国际律师事务所有限法律责任合伙 通商律师事务所 |
| Auditor and Reporting Accountant | 安永会计师事务所 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Compliance Advisor | Gram Capital Limited CE BBX925 |
| Receiving Banks | 招商永隆银行有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | HHLRA | 30,000,000 USD | 13,802,400 | 17.10% | 2.60% | 6 months | 2026-09-30 |
| 2 | 广发基金 | 30,000,000 USD | 13,802,400 | 17.10% | 2.60% | 6 months | 2026-09-30 |
| 3 | MSIP | 10,000,000 USD | 4,600,800 | 5.70% | 0.80% | 6 months | 2026-09-30 |
| 4 | 晟信集团 | 6,400,000 USD | 2,941,000 | 3.70% | 0.60% | 6 months | 2026-09-30 |
| 5 | 灏浚投资及华泰资本（有关灏浚投资场外掉期交易） | 5,800,000 USD | 2,667,800 | 3.30% | 0.50% | 6 months | 2026-09-30 |
| 6 | Eternal Summer | 5,000,000 USD | 2,300,400 | 2.80% | 0.40% | 6 months | 2026-09-30 |
| 7 | Shrewd Pioneer | 5,000,000 USD | 2,300,400 | 2.80% | 0.40% | 6 months | 2026-09-30 |
| 8 | 全顺 | 3,200,000 USD | 1,470,400 | 1.80% | 0.30% | 6 months | 2026-09-30 |
| 9 | VVC Technology | 3,000,000 USD | 1,380,200 | 1.70% | 0.30% | 6 months | 2026-09-30 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | Mr. Wang Guangneng | Mr. Wang Guangneng |
| Company Secretary | Mr. Zhang Yingtao | Mr. Zhang Yingtao |
| Executive Director | 王光能 | Wang Guangneng |
| Non-Executive Director | 房斌 | Fang Bin |
| Independent Non-Executive Director | 王义华 | Wang Yihua |
| Executive Director | 张国平 | Zhang Guoping |
| Independent Non-Executive Director | 黄凯 | Huang Kai |
| Executive Director | 张应涛 | Zhang Yingtao |
| Independent Non-Executive Director | 高丽 | Gao Li |
Major Shareholders
| Major Shareholders & Holdings | Mr. Wang (through controlled corporations and an agreement to act in concert) and Mr. Zhang (through an agreement to act in concert) are the controlling shareholders. Mr. Wang holds 14,218,750 unlisted shares (3.15%) and interests in controlled corporations representing 161,520,600 shares (35.84%); Mr. Zhang holds 2,031,250 unlisted shares (0.45%) and interests in persons acting in concert representing 175,739,350 shares (38.99%). Han's Laser holds 75,586,735 unlisted shares (16.77%). Zhongshen Xinchuang holds 33,163,265 unlisted shares (7.36%). |
|---|
Market Sentiment
The IPO of 华沿机器人 (01021) saw staggering retail enthusiasm, with an oversubscription ratio of 5,059x signaling massive demand for the Chapter 18C specialist tech listing. Despite the heat, the hit rate held at a relatively high 29.18%, suggesting even small applicants had a decent chance of allocation. The final offer price settled at HK$17.0, though no guidance range was disclosed. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
A notable tier anomaly emerged: 甲尾 (top A-tier) applicants putting up HK$200,000 expected 0.9046 lots, while 乙头 (entry B-tier) applicants putting up HK$300,000 expected only 0.2 lots—a clear inversion where the larger commitment yielded a lower share. This likely stems from the 机制B-无回补 clawback structure, which left the public tranche at just 4.3% with no reallocation, compressing B-head odds. Broker fee efficiency often favors B-tier, but here the extreme low allocation in B-head may erode that advantage, making A-tail relatively more cost-effective per expected lot. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
The applicant pool was predominantly mainland Chinese (71.1%), reflecting strong cross-border interest in the Hong Kong-listed robotics play under the 18C regime. Male investors made up 60.3% of holders, and the average age sat at 42.2, typical of a tech-focused IPO attracting middle-aged, financially active demographics. Regional data often points to Guangdong as a major hub for such subscriptions, though not broken down here. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
