New Stock News | Guangdong Topstar Technology (300607.SZ) submits documents to Hong Kong Stock Exchange, Siasun Robot & Automation leads in the mainland in terms of light industrial shipping volumes.

According to the disclosure by the Hong Kong Stock Exchange on January 16, Guangdong Topstar Technology Co., Ltd. (referred to as Guangdong Topstar Technology, 300607.SZ) has submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with Huatai International as its exclusive sponsor. The prospectus stated that based on data from Frost & Sullivan, by 2024, Guangdong Topstar Technology ranked first in both the light-load industry Siasun Robot & Automation shipment volume and the light industry sector Siasun Robot & Automation shipment volume in the industrial Siasun Robot & Automation solution market in mainland China. Company Profile Guangdong Topstar Technology is a leading player in the full-stack industrial Siasun Robot & Automation industry in mainland China and a pioneer in the field of embodied intelligence. Guangdong Topstar Technology has independently laid out the entire chain of core components, body, and automation application systems in Siasun Robot & Automation, making it the "chain master" enterprise in the intelligent Siasun Robot & Automation industry chain in Guangdong province. The following are the business highlights of Guangdong Topstar Technology: Guangdong Topstar Technology has made significant progress in the field of embodied intelligence and has commercialized applications in multiple manufacturing scenarios. The company has launched the first intelligent humanoid Siasun Robot & Automation "Xiao Tuo" used in injection molding scenes in mainland China. In addition, Guangdong Topstar Technology's quadruped Siasun Robot & Automation "Xing Zi" can perform multiple tasks in different application scenarios, including autonomous inspection, forest firefighting operations, and specialized operations in other complex environments. As of September 30, 2025, Guangdong Topstar Technology has reached over 200,000 potential customers and served over 15,000 customers. In terms of global deployment, in addition to mainland China, Guangdong Topstar Technology's business has expanded globally. The company is advancing its globalization strategy through (i) scaling penetration in emerging markets through its operation base in Vietnam, and (ii) making breakthroughs in developed markets with support from its operation base in Mexico. As of September 30, 2025, Guangdong Topstar Technology's overseas sales network covers more than 50 countries and regions. The company has established contacts with approximately 4,000 overseas potential customers, served nearly 1,000 overseas customers, and become a supplier to over 20 Fortune Global 500 companies. Financial Data Revenue For the nine months ended September 30, 2023, 2024, and 2025, the company's revenue was approximately RMB 4.553 billion, RMB 2.872 billion, and RMB 1.688 billion, respectively. Net Profit (Loss) for the Year/Period For the nine months ended September 30, 2023, 2024, and 2025, the company's net profit (loss) for the year/period was approximately a profit of RMB 106 million, a loss of RMB 239 million, and a profit of RMB 47.29 million, respectively. Gross Margin For the nine months ended September 30, 2023, 2024, and 2025, the company's gross margins were 17.6%, 14.6%, and 28.3%, respectively. Industry Overview The market size of industrial Siasun Robot & Automation solutions in mainland China grew from RMB 47.7 billion in 2020 to RMB 81.2 billion in 2024, with a compound annual growth rate of 14.2% from 2020 to 2024. The market size is expected to further increase to RMB 159.3 billion by 2029, with a compound annual growth rate of 14.4% from 2024 to 2029. The shipment volume of industrial Siasun Robot & Automation in mainland China increased from 242,000 units in 2020 to 349,500 units in 2024, with a compound annual growth rate of 9.6% from 2020 to 2024. The shipment volume is expected to further increase to 627,200 units by 2029, with a compound annual growth rate of 12.4% from 2024 to 2029. With the deep integration of large-scale and embodied intelligent technologies and breakthroughs in core technologies, the perception, decision-making, and execution capabilities of embodied intelligent Siasun Robot & Automation have been significantly improved. The embodied intelligence market is gradually moving towards a stage of large-scale commercial application. With the improvement of technological maturity and the decrease in application costs, embodied intelligent Siasun Robot & Automation is accelerating its expansion from the industrial sector to broader scenarios such as commercial services and healthcare, driving rapid growth in the global embodied intelligent Siasun Robot & Automation market. The global market size of embodied intelligent Siasun Robot & Automation is projected to increase from RMB 104.3 billion in 2025 to RMB 707.5 billion in 2030, with a compound annual growth rate of 46.7% from 2025 to 2030. The market size of mainland China's embodied intelligent Siasun Robot & Automation is expected to reach RMB 268.8 billion by 2030, accounting for 38.0% of the global market, with a compound annual growth rate of 48.7% from 2025 to 2030. Board of Directors Information The board of directors will consist of nine directors, including six executive directors and three independent non-executive directors, namely: Shareholding Structure As of the last practicable date, Mr. Wu Fengli, the executive director, chairman, and president of Guangdong Topstar Technology, through his direct ownership of 144,629,860 A-shares, has the right to exercise approximately 30.61% of the voting rights of the company (excluding the 4,471,668 A-shares held by the company as treasury shares). After completion, Mr. Wu will become the largest shareholder of the company, and according to the definition of the listing rules, the company will have no controlling shareholder. Sponsor: Huatai Financial Holdings (Hong Kong) Limited Company Legal Adviser: Pu Hui Law Firm (Hong Kong) Limited Liability Partnership, Jia Yuan Law Firm, King & Wood Mallesons Sponsor Legal Adviser: Wilson Sonsini Goodrich & Rosati Law Firm, JunHe Law Firm, Beijing Auditors and Reporting Accountants: Hong Kong Lixin Dexin Certified Public Accountants Limited Independent Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., LTD Shanghai Branch Compliance Advisor: Choate Capital Limited