Siasun Robot&Automation (01021) plans to issue 80.785 million H-shares for global offering from March 20th to March 25th, introducing cornerstone investors such as HHLRA and Guangfa Fund.

Siasun Robot&Automation plans to go public from March 20, 2026 to March 25, 2026, with a plan to globally issue 80.785 million H shares, with approximately 5% allocated for public sale in Hong Kong and approximately 95% for international sale, with an additional 15% over-allotment option. The offering price per share is 17 Hong Kong dollars, with each lot consisting of 200 shares. It is expected that the H shares will start trading on the Hong Kong Stock Exchange at 9:00 am on March 30, 2026 (Monday). The group collaborates with Siasun Robot&Automation company, engaged in research, development, production, and sales of collaborative robots for industrial automation applications and core motion components. In the broader Siasun Robot&Automation industry, collaborative robots are usually divided into traditional industrial robots, collaborative robots, and service robots. Collaborative robots are designed specifically for precise automation and are suitable for environments where they need to work closely with humans safely. According to Frost & Sullivan, the global collaborative robot market revenue reached 7.5 billion yuan in 2024, accounting for approximately 1.7% of the overall global robot market revenue of 431.6 billion yuan. The group has entered cornerstone investment agreements with HHLRA, GF Fund, MSIP, Shengxin Group, Haojun Investment, Huatai Capital (related to Haojun Investment's OTC swap transactions), Eternal Summer, Shrewd Pioneer, Quanshun, VVC Technology (each a cornerstone investor, collectively referred to as cornerstone investors). Under these agreements, the cornerstone investors agree to subscribe or cause their designated entities to subscribe for a total of approximately 984 million US dollars (calculated at a rate of 1.00 US dollar to 7.82 Hong Kong dollars) worth of the offering shares at the offering price (rounded down to the nearest full trading unit of 200 H shares per lot) and excluding brokerage commissions, SFC transaction levies, HKEx transaction fees (cornerstone placement). Based on the offering price of 17.00 Hong Kong dollars per share, the total number of shares that cornerstone investors will subscribe to is 45.2658 million shares. Assuming no exercise of the option for adjustment in the offering size and the over-allotment option, and after deducting underwriting commissions and other estimated offering expenses payable by the group for the global offering, and assuming an offering price of 17.00 Hong Kong dollars per share, the group estimates that it will receive approximately 1.28 billion Hong Kong dollars in net proceeds from the global offering. The group plans to use the net proceeds from the global offering as follows: approximately 55.0% for enhancing the group's research and development capabilities over the next five years; approximately 20.0% for developing overseas business over the next five years; approximately 15.0% for upgrading and expanding production capacity over the next five years; approximately 10.0% for working capital and general corporate purposes. During the historical period, the group's revenue increased from 109 million yuan in 2022 to 175 million yuan in 2023, a 60.2% increase, and further increased by 77.0% to 310 million yuan in 2024, with a compound annual growth rate of 68.4% from 2022 to 2024. The group's revenue increased by 36.2% from 206 million yuan for the nine months ending September 30, 2024, to 281 million yuan for the nine months ending September 30, 2025. Meanwhile, according to Frost & Sullivan data, the group's net loss of 83.4 million yuan in 2022 increased to a net profit of 179 million yuan in 2024, achieving profitability and becoming one of the few profitable companies among globally renowned collaborative robot companies. For the nine months ending September 30, 2024, the group achieved a net profit of 9 million yuan, while for the nine months ending September 30, 2025, the group incurred a net loss of 15.6 million yuan.