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
Company Overview
| Stock Name | Mech-Mind Robot |
|---|---|
| Stock Code | 09615 |
| Company Full Name | Mech-Mind Robotics Technologies Co., Ltd. |
| Industry | 機器人科技 |
| Principal Activities | An intelligent robot component supplier, providing intelligent robot guidance products (including industrial-grade 3D cameras and related software), intelligent inspection and measurement products (including 3D measurement instruments and related software), and next-generation cornerstone components (such as multimodal large models and dexterous robotic hands), utilizing 3D vision and AI algorithms to enable robots to have perception, decision-making, and planning capabilities. |
| Listing Date | 2026-09-01 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | 18C特專科技 |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國河北省雄安新區起步區易寧大街164號創智園北區3單元210室 |
| Business Address (Hong Kong) | 香港銅鑼灣希慎道33號利園一期19樓1919室 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | mech-mind.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | 卓佳证券登记有限公司，香港金钟道89号力宝中心1座31楼3101-3103室 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | 18C |
|---|---|
| Offer Price | HK$ 101.70 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 30 shares |
| Entry Threshold | HK$ 3,051 |
| Par Value | RMB 0.05 / shares |
| Offer Period | 2026-08-24 to 2026-08-27 |
| Global Offering Shares | 23,140,590 shares |
| HK Public Offer Shares (Initial) | 1,157,040 shares (5.0%) |
| Public Offer Lots (Initial) | 38,568lots (Pool A19,284lots，Pool B19,284lots) |
| International Placing Shares (Initial) | 21,983,550 shares (95.0%) |
| Offer Ratio | ~5.0% |
| Total Shares Post-IPO | 125,011,050 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | CLSA LIMITED CE AAB893 |
| Cornerstone Share | 58.9% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 2,353,398,003 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2 lots | 60 | HK$ 6,102 |
| 3 lots | 90 | HK$ 9,153 |
| 4 lots | 120 | HK$ 12,204 |
| 5 lots | 150 | HK$ 15,255 |
| 6 lots | 180 | HK$ 18,306 |
| 7 lots | 210 | HK$ 21,357 |
| 8 lots | 240 | HK$ 24,408 |
| 9 lots | 270 | HK$ 27,459 |
| 10 lots | 300 | HK$ 30,510 |
| 15 lots | 450 | HK$ 45,765 |
| 20 lots | 600 | HK$ 61,020 |
| 25 lots | 750 | HK$ 76,275 |
| 30 lots | 900 | HK$ 91,530 |
| 35 lots | 1,050 | HK$ 106,785 |
| 40 lots | 1,200 | HK$ 122,040 |
| 45 lots | 1,350 | HK$ 137,295 |
| 50 lots | 1,500 | HK$ 152,550 |
| 100 lots | 3,000 | HK$ 305,100 |
| 150 lots | 4,500 | HK$ 457,650 |
| 200 lots | 6,000 | HK$ 610,200 |
| 250 lots | 7,500 | HK$ 762,750 |
| 300 lots | 9,000 | HK$ 915,300 |
| 350 lots | 10,500 | HK$ 1,067,850 |
| 400 lots | 12,000 | HK$ 1,220,400 |
| 450 lots | 13,500 | HK$ 1,372,950 |
| 500 lots | 15,000 | HK$ 1,525,500 |
| 1,000 lots | 30,000 | HK$ 3,051,000 |
| 1,500 lots | 45,000 | HK$ 4,576,500 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 60,000 | HK$ 6,102,000 |
| 2,500 lots | 75,000 | HK$ 7,627,500 |
| 3,000 lots | 90,000 | HK$ 9,153,000 |
| 3,500 lots | 105,000 | HK$ 10,678,500 |
| 4,000 lots | 120,000 | HK$ 12,204,000 |
| 4,500 lots | 135,000 | HK$ 13,729,500 |
| 5,000 lots | 150,000 | HK$ 15,255,000 |
| 10,000 lots | 300,000 | HK$ 30,510,000 |
| 15,000 lots | 450,000 | HK$ 45,765,000 |
| 19,284 lots | 578,520 | HK$ 58,835,484 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 9.53B |
| Est. Threshold | HK$ 9.44B |
| Analysis Result | HK market cap met, expected inclusion ~2027-03-08 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 12,713,623,785 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 11,498,687,109 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net loss RMB 360.2 million |
| Period-End Cash Balance | RMB 351.95 million |
| Listing Expenses | ~HK$ 150,200,000 |
| Listing Expenses / Funds Raised | ~6.6% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approximately 31.8% will be used for product and technology research and development; approximately 25.2% will be used to enrich the product portfolio and broaden application scenarios; approximately 29.4% will be used to expand global influence and accelerate commercialization; approximately 5.0% will be used to expand production capacity and improve operational efficiency; and approximately 8.6% will be used for working capital and general corporate purposes. |
Underwriting Syndicate
Sponsor cum Overall Coordinator (1)
中信建投（国际）融资有限公司 CE BAU112
Overall Coordinators (4)
Joint Global Coordinators (4)
Joint Bookrunners (6)
Joint Lead Managers (4)
Capital Market Intermediaries (6)
Stabilizing Manager (1)
CLSA LIMITED CE AAB893
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Davis Polk & Wardwell 礼丰律师事务所 Hogan Lovells Cadwalader International LLP |
| Legal Advisor to Sponsors/Underwriters |
美迈斯律师事务所 通商律师事务所 |
| Auditor and Reporting Accountant | 毕马威会计师事务所 |
| Industry Advisor | 灼识行业咨询有限公司 |
| Compliance Advisor | 国泰君安融资有限公司 CE AGS488 |
| Receiving Banks |
招商永隆银行有限公司 中信银行（国际）有限公司 |
| H Share Registrar | 卓佳证券登记有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Baillie Gifford.. | 60,000,000 USD | 4,779,870 | 20.66% | 17.96% | 6 months | 2027-03-01 |
| 2 | 泰康人壽 | 40,000,000 USD | 3,186,570 | 13.77% | 11.97% | 6 months | 2027-03-01 |
| 3 | Invus | 15,000,000 USD | 1,194,960 | 5.16% | 4.49% | 6 months | 2027-03-01 |
| 4 | Ghisallo | 15,000,000 USD | 1,194,960 | 5.16% | 4.49% | 6 months | 2027-03-01 |
| 5 | Ruihua | 15,000,000 USD | 1,194,960 | 5.16% | 4.49% | 6 months | 2027-03-01 |
| 6 | NGS Super Fund | 10,000,000 USD | 796,620 | 3.44% | 2.99% | 6 months | 2027-03-01 |
| 7 | 易方達 | 10,000,000 USD | 796,620 | 3.44% | 2.99% | 6 months | 2027-03-01 |
| 8 | Golden Link | 6,000,000 USD | 477,960 | 2.07% | 1.80% | 6 months | 2027-03-01 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman / Executive Director | 邵天蘭 | Shao Tianlan |
| Company Secretary | 張玲 | — |
| Non-Executive Director | 公元 | Gong Yuan |
| Independent Non-Executive Director | 劉民 | Liu Ming |
| Executive Director | 付翱 | Fu Ao |
| Independent Non-Executive Director | 譚維佳 | Tan Weijia |
| Executive Director | 丁有爽 | Ding Youshuang |
| Independent Non-Executive Director | 張秋生 | Zhang Qiusheng |
| Executive Director | 楊培 | Yang Pei |
Major Shareholders
| Major Shareholders & Holdings | The controlling shareholders are 邵天蘭, 付翱, 丁有爽 and 梅卡曼德管理 (persons acting in concert), representing approximately 19.11% in aggregate immediately after completion of the Global Offering; other major shareholders include 瀚辰 (11.11%), 北京酷讯科技 (6.94%), 启明融科 (6.02%), etc. |
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