IPO News | Chenxing Technology Resubmits Application to the Hong Kong Stock Exchange, Ranking First in the Siasun Robot & Automation Market in China.

According to a disclosure by the Hong Kong Stock Exchange on August 18, Tianjin Chenxing Technology Co., Ltd. (hereinafter referred to as "Chenxing Technology") has once again submitted an application for the Main Board of the Hong Kong Stock Exchange, with Huatai International serving as the sole sponsor. Company Profile According to the prospectus, the company is a high-speed industrial robotics and automation firm dedicated to the research and development (R&D), production, sales, and service of high-speed and highly reliable robotics and automation solutions. Its product matrix spans four major series: parallel robots, high-speed compliant assembly robotic arms (SCARA), heavy-duty collaborative robots, and embodied intelligent robotics. Based on a rich lineage of robotic products, the company also provides automation and intelligent robotics solutions customized according to customer requirements. The company focuses on the automation and intelligent upgrade of core application scenarios such as high-speed sorting, precision assembly, and accurate handling. Its products and solutions find wide application across various industries, including food and beverage, daily chemicals, pharmaceuticals, new energy, 3C, and automotive. The company is a key player in the high-speed industrial robotics and automation industry and has established a leading position in the parallel robot market. The high-speed industrial robotics and parallel robot markets represent specialized areas within the industrial robotics industry. By 2025, these products are expected to hold approximately 7% and 5% of the global industrial robotics market, respectively. According to Frost & Sullivan data, (i) in the domestic parallel robot market, since 2020, the company has held the largest market share among Chinese robotics enterprises, and since 2023, it also has the largest market share among global robotics companies; (ii) in terms of shipment volume for 2025, the company ranks first among Chinese parallel robotics enterprises with a market share of 20.4% and second among global parallel robotics companies with a market share of 7.7%; and (iii) in terms of shipment volume for high-speed industrial robotics in 2025, the company ranks first in the Chinese high-speed industrial robotics market with a market share of 13.4% and fourth in the global high-speed industrial robotics market with a market share of 5.2%. During the track record period, most of the companys revenue came from China. The companys high-speed industrial robotics technology has been applied in multiple fields, and its parallel robots hold a leading market position in the domestic food and beverage, daily chemicals, and pharmaceuticals sectors. Meanwhile, the company has achieved significant progress in exploring new fields and is now the largest supplier of parallel robots in the domestic new energy sector, continuously expanding its business footprint in the 3C and automotive sectors to further broaden its market coverage. Financial Information Revenue For the fiscal years 2023, 2024, 2025, and the first six months of 2026 ending on June 30, the company achieved revenues of approximately RMB 93.49 million, RMB 135 million, RMB 253 million, and RMB 135 million, respectively. Profit For the fiscal years 2023, 2024, 2025, and the first six months of 2026 ending on June 30, the company's profits for the years/period were -RMB 39.25 million, -RMB 47.07 million, RMB 739,000, and -RMB 28.80 million, respectively. Industry Overview Industrial robotics is the cornerstone of advanced manufacturing, driving production systems toward higher levels of intelligence, automation, and flexibility. Against the backdrop of ongoing progress in smart manufacturing and structural increases in labor costs in the manufacturing sector, industrial robotics is increasingly being adopted as key automation equipment to replace repetitive, labor-intensive, and hazardous tasks, thus supporting improvements in production efficiency, process stability, and product quality. In 2021, both the global and Chinese industrial robotics markets experienced significant growth, with shipment value increasing by approximately 25.5% and 28.5% year-on-year, respectively. This rapid expansion was primarily driven by explosive growth in downstream demand, particularly in the new energy vehicle (NEV) industry. In that year, global and Chinese automobile sales grew by approximately 102.4% and 157.6% year-on-year, respectively, significantly accelerating capital investment and capacity expansion in complete vehicle manufacturing and power battery production, which in turn stimulated concentrated demand for industrial robotics in critical manufacturing stages. Between 2021 and 2025, both the global and Chinese industrial robotics markets demonstrated clear upward trajectories in shipment value, increasing from approximately RMB 93.5 billion and RMB 40.4 billion to about RMB 122.6 billion and RMB 57.4 billion, respectively, with compound annual growth rates of approximately 7.0% and 9.2%. During the same period, China's share in the global industrial robotics market's shipment value increased from approximately 43.2% to 46.8%, reflecting its strengthening position in this market. Looking to the future, supported by continued advancements in smart manufacturing, rising labor costs, and accelerated industrial automation, the industrial robotics market is expected to maintain stable growth. By 2030, the global industrial robotics shipment value is anticipated to reach approximately RMB 214.2 billion, while China's shipment value is expected to reach around RMB 107.5 billion, continuing to hold its position as the largest industrial robotics market in the world. Board of Directors Information The companys board of directors comprises seven members, including two executive directors, two non-executive directors, and three independent non-executive directors. All board members are elected by the shareholders' meeting for a term of three years and may be re-elected. The main powers of the board include, but are not limited to: convening shareholders' meetings, reporting work to the shareholders' meeting, executing resolutions passed by the shareholders' meeting, determining the company's business plans and investment proposals, establishing the annual financial budget and final accounts for the group, determining the group's basic management systems, formulating profit distribution and loss compensation schemes, as well as exercising other powers granted by the company's articles of association. Shareholding Structure As of the latest practical date (August 10, 2026), Mr. Liu, Mr. Song, Ms. Yang Junwen, Chenxing Friends, Chenxing Brothers, and Chenxing Partners hold approximately 11.11%, 9.20%, 3.94%, 3.82%, 3.25%, and 2.66% of the companys issued share capital, respectively. According to a concerted action agreement, Mr. Song, Chenxing Partners, Chenxing Friends, Chenxing Brothers, and Ms. Yang Junwen agree (among other things) to act in concert with Mr. Liu and to follow Mr. Liu's decisions regarding the exercise of their voting rights at the company's shareholders' meetings. The concerted action agreement will remain effective upon proposed compilation. Intermediary Team Sole sponsor: Huatai Financial Holdings (Hong Kong) Limited; Legal advisors: Baker McKenzie and DeHeng Law Offices (Beijing); Legal advisors for the sole sponsor: King & Wood Mallesons and Beijing Tongshang Law Firm; Auditor and reporting accountant: Ernst & Young; Independent industry advisor: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch.