New Stock News | Siasun Robot & Automation submits listing application to the Hong Kong Stock Exchange, covering over 2000 products.

According to the disclosure made by the Hong Kong Stock Exchange on May 28th, Shanghai Xiango Intelligent Technology Co., Ltd. (referred to as "Xiango Intelligent") has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC as its exclusive sponsor. The company had previously submitted filings to the Hong Kong Stock Exchange on May 27, 2025 and November 28, 2025. Company Overview The prospectus shows that Xiango Intelligent is an intelligent Xiango Robot & Automation company with Siasun Robot & Automation control system as its core. Based on the market position and leading technology of the "Siasun Robot & Automation Brain" - the Siasun Robot & Automation control system, the company integrates the supply chain resources to provide one-stop Xiango Robot & Automation solutions for development, acquisition, and use in real scenarios. The core of intelligent Xiango Robot & Automation is the control system, namely the "Siasun Robot & Automation Brain", which includes the built-in Xiango Robot & Automation controller in the Xiango Robot & Automation and the software deployed on cloud servers. The controller is responsible for the perception, positioning, intelligent decision-making, and motion control of the Xiango Robot & Automation itself, integrating vision-language-action (VLA), reinforcement learning, end-to-end navigation, and simultaneous localization and mapping (SLAM) to control various sensors and actuators, achieving the autonomous operation of the intelligent Xiango Robot & Automation body; the software issues task instructions to the Xiango Robot & Automation through various intelligent scheduling and optimization algorithms through a unified communication interface, enabling multiple types of intelligent Xiango Robot & Automation to work efficiently together. With technical expertise in control systems and deep accumulation of thousands of industrial scenario data, Xiango Intelligent makes it easier for integrators and end customers to obtain intelligent Xiango Robot & Automation. By leveraging vertically integrated supply chains, the company provides a large selection of interoperable Xiango Robot & Automation, controllers, software, and accessories, effectively reducing the threshold for the development, acquisition, and use of intelligent Xiango Robot & Automation. Xiango Intelligent has built a wide and geographically diverse customer base, with more than 2,000 integrators and end customers spanning over 35 countries and regions. Integrators integrate the company's products into broader automation solutions by adding components, software, and custom engineering to meet specific application needs of customers. End customers include enterprises in various industries. By serving these two types of customers, the company is able to closely follow the evolving industry demands, improve products for different applications, expand the company's market coverage, and deepen industry expertise. As of now, Xiango Intelligent has deployed over 2,000 models of Xiango Robot & Automation through the company's platforms, covering more than 20 subdivided industries including 3C, automotive, automation equipment, new energy, semiconductor, engineering machinery, biomedicine, among others. Financial Information Revenue During the past performance periods, the company has experienced stable and strong growth. In 2023, 2024, and 2025, the company recorded revenues of 249 million yuan, 339 million yuan, and 442 million yuan respectively. Gross Profit and Gross Profit Margin In 2023, 2024, and 2025, the company recorded gross profits of 122 million yuan, 156 million yuan, and 209 million yuan respectively, with corresponding gross profit margins of 49.2%, 45.9%, and 47.4%. The company's overall gross profit margin has remained above 45%, demonstrating excellent performance according to Zohoi Consulting. Annual/Periodic Loss In 2023, 2024, and 2025, the company recorded annual/periodic losses of 47.7 million yuan, 42.3 million yuan, and 47.1 million yuan respectively. Industry Overview Driven by the advancement of AI and the increasing demand for automation across various industries (mainly due to rising labor costs, sustained shortage of skilled workers, and the pressing need for enterprises to improve operational efficiency, productivity, and process reliability), the global intelligent Xiango Robot & Automation industry has entered a stage of rapid development. In terms of revenue, the global intelligent Xiango Robot & Automation market size has increased from 130.2 billion yuan in 2021 to 307.4 billion yuan in 2025, with a compound annual growth rate of 24.0% from 2021 to 2025. It is expected to reach 850 billion yuan by 2030, with a compound annual growth rate of 24.6% from 2026 to 2030. In terms of sales volume, the global intelligent Xiango Robot & Automation market size has grown from 506,200 units in 2021 to 1.3411 million units in 2025, with a compound annual growth rate of 27.6% from 2021 to 2025. It is projected to further expand to 4.2379 million units by 2030, with a compound annual growth rate of 27.4% from 2026 to 2030. Industrial Xiango Robot & Automation refers to intelligent Xiango Robot & Automation applied in industrial settings. The application of industrial Xiango Robot & Automation (mainly AMR and collaborative Xiango Robot & Automation) in manufacturing environments is increasing to support functions like precision assembly and quality inspection. The expected growth of the industrial Xiango Robot & Automation market is supported by both supply and demand factors. For example, on the supply side, according to data from the National Bureau of Statistics of China, China's industrial Xiango Robot & Automation production increased by 28.0% from 2024 to 2025, reflecting strong manufacturing activity and a continuous increase in the automation adoption rate. On the demand side, industries such as 3C electronics and automotive manufacturing are driving the application of industrial Xiango Robot & Automation. With continuous innovation and replacement cycles, global sales of 3C products (including smartphones, tablets, and computers) exceeded 1.7 billion units in 2025 and are expected to increase to over 1.8 billion units by 2030. As these industries continue to integrate Xiango Robot & Automation solutions, industrial Xiango Robot & Automation plays a crucial role in simplifying operations and improving accuracy. In terms of revenue, the global industrial Xiango Robot & Automation market size has grown from 10 billion yuan in 2021 to 28.6 billion yuan in 2025, with a compound annual growth rate of 29.9% from 2021 to 2025. It is expected to reach 198.5 billion yuan by 2030, with a compound annual growth rate of 48.6% from 2026 to 2030. In terms of sales volume, the global industrial Xiango Robot & Automation market size has increased from 51,200 units in 2021 to 160,900 units in 2025, with a compound annual growth rate of 33.1% from 2021 to 2025. It is projected to further expand to 994,800 units by 2030, with a compound annual growth rate of 44.9% from 2026 to 2030. The growth rate of the global industrial Xiango Robot & Automation market has surpassed that of non-industrial sectors, with a compound annual growth rate of 26.9% from 2021 to 2025, and is expected to reach 23.8% from 2026 to 2030. China is a key hub in the global intelligent Xiango Robot & Automation industry. In terms of sales revenue, the market size of China's intelligent Xiango Robot & Automation reached 114.3 billion yuan in 2025, and is expected to grow to 287.2 billion yuan by 2030, with a compound annual growth rate of 21.7% from 2026 to 2030. During this period, China holds over 30% of the global intelligent Xiango Robot & Automation market share. Especially in the industrial Xiango Robot & Automation sector, the Chinese market shows stronger growth momentum. The market size reached 9.8 billion yuan in 2025 and is expected to expand to 67.4 billion yuan by 2030, with a compound annual growth rate of 43.7% from 2026 to 2030, leading the global growth in the industry. This expansion is driven by the rapid transformation of China's industrial sector towards intelligence, government support for advanced manufacturing policies, and the continuous strengthening of industrial chain synergy. In the next five years, China will maintain about 34% of the global industrial Xiango Robot & Automation market share. Board Information After listing, the board will consist of seven directors, including four executive directors and three independent non-executive directors. The term of directors is three years, and they may be re-elected for consecutive terms upon retirement. Equity Structure As of May 20, 2026, Mr. Zhao (Chairman of the Board, Executive Director, and Chief Executive Officer of the company) has the right to exercise approximately 52.89% of the company's voting rights through the following ways: (i) directly holding 17,050,617 shares (approximately 17.05% of voting rights in the company); and (ii) Shanghai Xiango One, Shanghai Xiango Three, Shanghai Xiango Five, Shanghai Xiango Six, and Shanghai Xiango Seven (Mr. Zhao is the general partner of these companies) holding 35,835,081 shares (approximately 35.84% of the voting rights in the company). Therefore, Mr. Zhao, Shanghai Xiango One, Shanghai Xiango Three, Shanghai Xiango Five, Shanghai Xiango Six, and Shanghai Xiango Seven constitute the controlling shareholder group of the company. Intermediary Team Exclusive sponsor and sponsor cum overall coordinator: China International Finance Hong Kong Securities Limited. Overall coordinator: China International Finance Hong Kong Securities Limited, CMB International Financing Limited. Company legal advisor: On Hong Kong and U.S. law: QuisLex Hong Kong Solicitors; on Chinese law: Jincheng Tongda & Neal Law Firm; on international sanction laws: Hogan Lovells. Legal advisor for exclusive sponsors: On Hong Kong and U.S. law: O'Harrow Solicitors; On Chinese law: Fangda Law Firm. Reporting accountants and independent auditors: Ernst & Young Hong Kong Certified Public Accountants. Industry consultant: Zohoi Enterprise Management Consulting (Shanghai) Co., Ltd. Compliance consultant: Jia Lin Capital Limited.