New Stock News | Shenzhen Inovance Technology (300124.SZ) has selected an investment bank for its Hong Kong listing, with a fundraising target of up to $2 billion.

According to media reports citing informed sources, industrial robot and automation manufacturer Siasun Robot&Automation's parent company Shenzhen Inovance Technology (300124.SZ) plans to list in Hong Kong and has selected Bank of America Merrill Lynch, CICC, GUOTAI JUNAN I, and Morgan Stanley to arrange the relevant matters, with a fundraising scale of up to $2 billion. The company had announced in January that it was planning to list in Hong Kong, but did not disclose more details. Informed sources said that the details of the Hong Kong listing are still under discussion, and specific details such as scale may change. Shenzhen Inovance Technology, CICC, and GUOTAI JUNAN I did not respond to requests for comments, while Bank of America Merrill Lynch and Morgan Stanley declined to comment. Public information shows that Shenzhen Inovance Technology was founded in 2003 and listed on the Shenzhen Stock Exchange in September 2010. The company focuses on automation, digitization, and intelligence in the industrial field, specializing in core technologies such as "information layer, control layer, drive layer, execution layer, and sensing layer," focusing on the research and development, production, and sales of industrial automation control products. Shenzhen Inovance Technology has over 30 subsidiaries in cities such as Suzhou, Hangzhou, Nanjing, Shanghai, Ningbo, Changchun, and Hong Kong. In the first three quarters of 2025, the company's operating income was 31.663 billion RMB, a year-on-year increase of 24.67%. Net profit attributable to the company's shareholders was 4.254 billion RMB, a year-on-year increase of 26.84%. Net profit attributable to the company's shareholders excluding non-recurring gains and losses was 3.888 billion RMB, a year-on-year increase of 24.03%. Basic earnings per share were 1.58 RMB.