New stock news: Siasun Robot & Automation submits application to Hong Kong Stock Exchange, focusing on the AI household robot industry.

According to the disclosure of the Hong Kong Stock Exchange on June 8, Woan Siasun Robot & Automation (Shenzhen) Co., Ltd. (referred to as Woan Siasun Robot & Automation) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with GUOTAI JUNAN I and Huatai International as its joint sponsors. The prospectus shows that Woan Siasun Robot & Automation is an AI-powered smart home system provider, dedicated to building an ecosystem centered around intelligent home automation products. The company's product brand name is SwitchBot, and users can interact with the products anytime through the SwitchBot App to meet various home living needs. According to the Frost & Sullivan report, based on revenue in 2024, the company is the world's largest provider of AI-powered smart home systems, with a market share of 11.9%, and is the only provider to comprehensively cover the smart home automation category in home life scenarios. The company's product portfolio covers seven categories involving 42 SKUs under the SwitchBot brand. The SwitchBot Bot was launched in 2017 as the world's first finger robot; subsequently, the company introduced the world's first curtain robot SwitchBot Curtain in 2020, the world's first fingerprint door lock robot SwitchBot Lock in 2022, and the world's first commercially enhanced mobile robot SwitchBot S10 in 2023. As of June 3, 2025, since its launch, the company's SwitchBot App has registered over 3.1 million users, with over 9.1 million devices connected to the app. During the previous financial year, the company sold its products to over 90 countries and regions, with products available for purchase in over 2,000 offline retail stores. Approximately 55.2% of registered SwitchBot App users have connected two or more SwitchBot products to the app, demonstrating wide adoption of the company's product ecosystem and confirming consumer loyalty and brand positioning. In terms of customers, the company mainly sells products to end customers, retailers, and distributors. For the financial years ended in 2022, 2023, and 2024, the revenue generated by the top five customers was RMB 164 million, RMB 229.3 million, and RMB 289.1 million respectively, accounting for 59.6%, 50.2%, and 47.4% of total revenue for the respective years. In terms of performance, for the financial years ended in 2022, 2023, and 2024, Woan Siasun Robot & Automation achieved revenues of approximately RMB 275 million, RMB 457 million, and RMB 610 million respectively; with losses of RMB 86.98 million, RMB 16.37 million, and RMB 3.07 million respectively during the same periods.