IPO Timeline Raw facts
Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shenzhen (SZSE) |
|---|---|
| Other Market Stock Code | 300757 |
| H-Share Offer Price | HK$ 436.00 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | ROBOTECHNIK |
|---|---|
| Stock Code | 03757 |
| Company Full Name | RoboTechnik Intelligent Technology Co., Ltd. |
| Industry | Industrial Manufacturing |
| Principal Activities | Global provider of manufacturing equipment and systems for the photovoltaic (PV) industry and silicon photonics (SiPh) industry. PV manufacturing solutions comprise PV manufacturing equipment (primarily automation equipment for PV cell production), complete production lines, and intelligent manufacturing systems built around the proprietary R2Fab MES platform. Through ficonTEC, provides SiPh assembly equipment and testing equipment covering key stages of SiPh assembly and testing, including electrical, optical and mixed-signal electro-optical testing across wafer, die, chip and module levels. |
| Listing Date | 2026-09-29 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | No. 3, Ganglang Road, Suzhou Industrial Park, Suzhou, Jiangsu Province, the PRC |
| Business Address (Hong Kong) | 31/F, Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | robo-technik.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | 香港中央證券登記有限公司，香港灣仔皇后大道東183號合和中心17樓1712-1716號舖 |
| A-Share/US Dual Listing | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 436.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 50 shares |
| Entry Threshold | HK$ 21,800 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-09-21 to 2026-09-24 |
| Global Offering Shares | 11,876,000 shares |
| HK Public Offer Shares (Initial) | 1,187,600 shares (10.0%) |
| Public Offer Lots (Initial) | 23,752lots (Pool A11,876lots，Pool B11,876lots) |
| International Placing Shares (Initial) | 10,688,400 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 179,484,111 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | HUATAI FINANCIAL HOLDINGS (HONG KONG) LIMITED CE AOK809 |
| Cornerstone Share | 36.7% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 5,177,936,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 50 | HK$ 21,800 |
| 2 lots | 100 | HK$ 43,600 |
| 3 lots | 150 | HK$ 65,400 |
| 4 lots | 200 | HK$ 87,200 |
| 5 lots | 250 | HK$ 109,000 |
| 6 lots | 300 | HK$ 130,800 |
| 7 lots | 350 | HK$ 152,600 |
| 8 lots | 400 | HK$ 174,400 |
| 9 lots | 450 | HK$ 196,200 |
| 10 lots | 500 | HK$ 218,000 |
| 12 lots | 600 | HK$ 261,600 |
| 14 lots | 700 | HK$ 305,200 |
| 16 lots | 800 | HK$ 348,800 |
| 18 lots | 900 | HK$ 392,400 |
| 20 lots | 1,000 | HK$ 436,000 |
| 30 lots | 1,500 | HK$ 654,000 |
| 40 lots | 2,000 | HK$ 872,000 |
| 50 lots | 2,500 | HK$ 1,090,000 |
| 60 lots | 3,000 | HK$ 1,308,000 |
| 70 lots | 3,500 | HK$ 1,526,000 |
| 80 lots | 4,000 | HK$ 1,744,000 |
| 90 lots | 4,500 | HK$ 1,962,000 |
| 100 lots | 5,000 | HK$ 2,180,000 |
| 120 lots | 6,000 | HK$ 2,616,000 |
| 140 lots | 7,000 | HK$ 3,052,000 |
| 160 lots | 8,000 | HK$ 3,488,000 |
| 180 lots | 9,000 | HK$ 3,924,000 |
| 200 lots | 10,000 | HK$ 4,360,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 400 lots | 20,000 | HK$ 8,720,000 |
| 600 lots | 30,000 | HK$ 13,080,000 |
| 800 lots | 40,000 | HK$ 17,440,000 |
| 1,000 lots | 50,000 | HK$ 21,800,000 |
| 2,000 lots | 100,000 | HK$ 43,600,000 |
| 3,000 lots | 150,000 | HK$ 65,400,000 |
| 11,876 lots | 593,800 | HK$ 258,896,800 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 2.75B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 78,255,072,396 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 5,177,936,000 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net loss RMB 44.96 million |
| Period-End Cash Balance | RMB 263.66 million |
| Listing Expenses | ~HK$ 216,600,000 |
| Listing Expenses / Funds Raised | ~4.2% |
| Total Pre-IPO Investment | To be extracted |
Financial Data
Unit:
'000
RMB
Income Statement
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1,569,649 | 1,104,248 | 948,838 |
| Cost of sales | -1,226,230 | -787,733 | -621,311 |
| Gross profit | 343,419 | 316,515 | 327,527 |
| Other income and gains, net | 13,310 | 18,349 | 16,499 |
| Selling and distribution expenses | -49,342 | -54,450 | -93,831 |
| Administrative expenses | -67,414 | -53,212 | -121,523 |
| Net finance costs | -13,012 | -15,913 | -29,969 |
| Share of associates and JVs | 969 | 2,570 | -1,074 |
| Profit before tax | 85,322 | 60,431 | -50,421 |
| Income tax expense | -5,853 | 2,745 | 5,465 |
| Profit for the year | 79,469 | 63,176 | -44,956 |
| Profit attributable to owners | 80,222 | 63,885 | -45,487 |
Balance Sheet
| Item | 2023 | 2024 | 2025-04 | 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | 215,118 | 298,593 | 263,662 | |
| Trade and bills receivables | 362,381 | 518,718 | 751,036 | |
| Inventories | 500,619 | 205,171 | 410,481 | |
| Total current assets | 1,731,261 | 1,572,818 | 1,786,772 | |
| Total assets | 2,567,380 | 2,365,282 | 4,311,760 | |
| Total current liabilities | 1,567,079 | 1,321,351 | 1,634,545 | |
| Total liabilities | 1,587,113 | 1,360,346 | 1,974,336 | |
| Total equity | 980,267 | 1,004,936 | 2,337,424 | |
| Equity attributable to owners | 982,302 | 1,007,575 | 2,339,772 | |
| Interest-bearing borrowings | 43,639 | 119,483 | 123,647 |
Cash Flow Statement
| Item | 2023 | 2024 | 2025-04 | 2025 |
|---|---|---|---|---|
| Net cash from operating activities | -27,900 | -317,156 | 207,794 | |
| Net cash from investing activities | 13,230 | -54,861 | -674,107 | |
| Net cash from financing activities | 50,114 | 453,765 | 432,783 | |
| Net increase in cash | 35,444 | 81,748 | -33,530 | |
| Purchase of PP&E | -8,883 | -10,678 | -118 |
Income Statement
Balance Sheet
Cash Flow Statement
Source: Accountants' Report and Audited Consolidated Financial Statements
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approx. 20% for R&D and innovation, approx. 40% for expanding production capacity and improving delivery speed, approx. 10% for building a global sales and service network, approx. 20% for strategic investments and/or acquisitions, approx. 10% for working capital and general corporate purposes |
Underwriting Syndicate
Joint Sponsors (3)
Sponsor cum Overall Coordinator (3)
Overall Coordinators (3)
Joint Global Coordinators (3)
Joint Bookrunners (6)
Joint Lead Managers (6)
Capital Market Intermediaries (6)
Stabilizing Manager (1)
HUATAI FINANCIAL HOLDINGS (HONG KONG) LIMITED CE AOK809
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
富而德律师事务所 Grandall Law Firm (Shanghai) Katten Muchin Rosenman LLP |
| Legal Advisor to Sponsors/Underwriters |
瑞生国际律师事务所有限法律责任合伙 嘉源律师事务所 |
| Auditor and Reporting Accountant | Grant Thornton Hong Kong Limited |
| Industry Advisor | 灼识行业咨询有限公司 |
| Receiving Banks |
中国银行（香港）有限公司 招商永隆银行有限公司 中信银行（国际）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 | Temasek | 45,000,000 USD | 809,350 | 6.82% | 0.45% | 6 months | 2027-03-29 |
| 2 | Sunpeak Asset | 40,000,000 USD | 719,450 | 6.06% | 0.40% | 6 months | 2027-03-29 |
| 3 | IvyRock | 30,000,000 USD | 539,550 | 4.54% | 0.30% | 6 months | 2027-03-29 |
| 4 | E Fund | 10,000,000 USD | 179,850 | 1.51% | 0.10% | 6 months | 2027-03-29 |
| 5 | E Fund – E Fund Management | 9,650,000 USD | 173,550 | 1.46% | 0.10% | 6 months | 2027-03-29 |
| 6 | E Fund – E Fund HK | 350,000 USD | 6,250 | 0.05% | — | 6 months | 2027-03-29 |
| 7 | CIG | 10,000,000 USD | 179,850 | 1.51% | 0.10% | 6 months | 2027-03-29 |
| 8 | Winner Global Fund | 15,000,000 USD | 269,750 | 2.27% | 0.15% | 6 months | 2027-03-29 |
| 9 | Wind Sabre | 10,000,000 USD | 179,850 | 1.51% | 0.10% | 6 months | 2027-03-29 |
| 10 | Vestide Lumir | 10,000,000 USD | 179,850 | 1.51% | 0.10% | 6 months | 2027-03-29 |
| 11 | Arrowpoint | 7,500,000 USD | 134,850 | 1.14% | 0.08% | 6 months | 2027-03-29 |
| 12 | Sino Opulence Fund | 4,000,000 USD | 71,900 | 0.61% | 0.04% | 6 months | 2027-03-29 |
| 13 | Roofer Asset Management | 3,100,000 USD | 55,750 | 0.47% | 0.03% | 6 months | 2027-03-29 |
| 14 | Bloom Capital | 3,000,000 USD | 53,950 | 0.45% | 0.03% | 6 months | 2027-03-29 |
| 15 | Mr. Lai Pak Lam | 30,000,000 USD | 539,550 | 4.54% | 0.30% | 6 months | 2027-03-29 |
| 16 | Mr. Xia Shengli | 7,000,000 USD | 126,100 | 1.06% | 0.07% | 6 months | 2027-03-29 |
| 17 | Mr. Zhu Guodong | 5,000,000 USD | 89,900 | 0.76% | 0.05% | 6 months | 2027-03-29 |
| 18 | Mr. Zheng Xiaofeng | 2,800,000 USD | 50,450 | 0.42% | 0.03% | 6 months | 2027-03-29 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | Dai Jun | Dai Jun |
| Company Secretary | Li Liangyu | Li Liangyu |
| Executive Director | 戴军 | Dai Jun |
| Independent Non-Executive Director | 严厚民 | Yan Houmin |
| Executive Director | Torsten Vahrenkamp | |
| Independent Non-Executive Director | 陈立虎 | Chen Lihu |
| Executive Director | 李良玉 | Li Liangyu |
| Independent Non-Executive Director | 朱兆斌 | Zhu Zhaobin |
| Executive Director | 朱华侨 | Zhu Huaqiao |
Major Shareholders
| Major Shareholders & Holdings | Mr. Dai (beneficial owner 3.93%; interest in controlled corporations 27.53%); Mr. Wang Hongjun (beneficial owner 1.27%; interest in controlled corporations 27.53%); Yuanjiesheng (23.66%); Ningbo Kejun (3.87%) |
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