New stock news | Huawei Technology submits application to the Hong Kong Stock Exchange, ranks fifth in global industrial camera sales revenue and third in China

On January 19th, Zhejiang Huarui Technology Co., Ltd. (hereinafter referred to as "Huari Technology") submitted its application for listing on the main board of the Hong Kong Stock Exchange, with CICC as the exclusive sponsor. The prospectus shows that Huari Technology is a global pioneer and leader in AI-empowered machine vision and Autonomous Mobile Robots (AMR) products and solutions. The company is dedicated to building and expanding an application ecosystem based on its own products and solutions, to help various industries in manufacturing and logistics achieve digital transformation. Huari Technology's business is divided into two business lines: machine vision and AMR, both operating in the high-end equipment manufacturing sector. Focusing on the upstream of the high-end equipment industry chain, Huari Technology is a key force driving the research and application of high-end equipment, providing critical components, products, and comprehensive solutions to equipment manufacturers and leading companies in core strategic industries such as new energy, semiconductors, automobiles, and PCBs. In the field of machine vision, Huari Technology provides comprehensive machine vision core components and products to ecosystem partners (mainly end customers and system integrators), covering standard vision products, AI vision products, 3D vision products, and customized solutions tailored to specific needs of end customers using its AI algorithm platform. In the AMR business, Huari Technology offers standardized solutions to customers in several core strategic industries (mainly lithium batteries, automotive, and electronics manufacturing), as well as various AMR products and core components to its ecosystem partners to help them create and deliver solutions to their end customers. Machine vision products serve as the "eyes" and "brain" of machines, replacing human visual perception and analysis, and are widely used in industries such as consumer electronics, automotive components, lithium batteries, PCBs, and semiconductors for high-speed, high-precision positioning, recognition, measurement, and inspection of discrete components and products. Huari Technology's AMR solutions automate and digitize the logistics processes in factories, warehouses, and transfer centers by centrally scheduling AMR clusters to support end-to-end material handling between machines, warehouses, workstations, and transfer stations, including loading and unloading, inbound and outbound operations, picking, and transportation. Moreover, with strong synergies between the two business lines, Huari Technology has built a shared research and technology base to develop exclusive technology platforms for machine vision and AMR businesses. This shared base enables the company to provide full-value chain solutions covering "AI + vision + Siasun Robot & Automation" products and encompassing vision perception, intelligent decision-making, and autonomous execution. Huari Technology has created a rich portfolio of products and solutions, including 883 standard vision product models, 154 AI vision product models, 14 3D vision product models, and three machine vision AI algorithm platforms, establishing a closed-loop machine vision application ecosystem to meet the dynamic requirements of various industry application scenarios. Huari Technology's AMR solutions are flexibly integrated around its Robot Nexus AMR software platform (which includes the Integrated Control System (ICS), Siasun Robot & Automation Scheduling System (RCS), Intelligent Warehouse Management System (iWMS), and Material Control System (MCS)), equipped with various types of lurking, forking, and transfer-type AMRs to achieve automation and digitization of a series of manufacturing and internal logistics operations, including loading and unloading, inbound and outbound operations, picking, and transportation between machines, warehouses, workstations, and transfer stations. In terms of competition, both the machine vision and AMR industries face intense competition, with Huari Technology competing with leading companies in various aspects of the business. According to Frost & Sullivan, the global and Chinese industrial camera markets are expected to grow by compound annual growth rates of 11.2% and 14.0%, respectively, from 2025 to 2029, while the global and Chinese manufacturing AMR products and solutions markets are expected to grow by compound annual growth rates of 18.3% and 16.8%, respectively, during the same period. The industrial camera market remains relatively concentrated, while the AMR market is more fragmented. In this competitive landscape, Huari Technology ranked as the fifth largest industrial camera supplier in the world and the third largest in China in 2024, as well as the seventh largest manufacturing AMR product and solution supplier in the world and the third largest in China (based on sales revenue). In terms of financial performance, Huari Technology achieved revenues of approximately RMB 1.05 billion, RMB 902 million, and RMB 824 million in the fiscal years 2023, 2024, and the nine months ending September 30, 2025, respectively. During the same periods, the company achieved gross profits of approximately RMB 353 million, RMB 257 million, and RMB 294 million, respectively.