IPO News | Huayan Robotics Passes Hong Kong Stock Exchange Listing Hearing as China's Second-Largest Collaborative Robot Company

According to the disclosure by the Hong Kong Stock Exchange on March 15, Guangdong Huayan Robotics Co., Ltd. (hereinafter referred to as Huayan Robotics) is currently undergoing a listing hearing on the Main Board of the Hong Kong Stock Exchange. China International Capital Corporation and Deutsche Bank are joint sponsors for the listing.

The prospectus shows that Huayan Robotics is a collaborative robot company engaged in the research, development, production, and sales of collaborative robots and core motion components for industrial automation applications. During the reporting period, the company mainly sold robot hardware to customers in Mainland China, Europe, the Americas, and other parts of Asia.

Collaborative robots are designed for precise automation and are suitable for environments requiring close and safe cooperation with humans. According to Frost & Sullivan, the global collaborative robot market revenue is expected to reach RMB 7.5 billion in 2024, accounting for approximately 1.7% of the total global robot market revenue of RMB 4,316 billion.

The company’s collaborative robots are widely used across various industries. Specifically, the E series collaborative robots are mainly used in industrial manufacturing, consumer electronics, and healthcare, supporting high-precision applications such as micro-component assembly, precision processing, and medical testing. The S series collaborative robots are primarily deployed in the automotive and logistics industries, including applications such as palletizing, machine loading and unloading, material handling, and logistics automation.

As of March 10, 2026, the company has successfully commercialized two major series of collaborative robots and all core motion components.

In addition to collaborative robot products, the company also offers a range of proprietary core motion components, including frameless torque motors, servo drives, joint modules, and precision motion platforms. By combining precision mechanical engineering with proprietary control algorithms, the company develops high-performance components that form the basis of its own collaborative robots and are also used in third-party applications ranging from industrial automation to advanced humanoid robots.

The table below details the revenue amounts and their percentage of total revenue for the periods during which the company’s products and collaborative robots were sold:

In the fiscal years 2022, 2023, 2024, and the nine months ending September 30, 2025, the company’s revenue from its top five customers during each period was RMB 56.1 million, RMB 85.2 million, RMB 188 million, and RMB 155 million, respectively, accounting for 51.2%, 48.5%, 60.6%, and 55.3% of total revenue.

Regarding production capacity, during the reporting periods, the company mainly manufactured products at its production base in Foshan, Guangdong, and also had a manufacturing facility in Shenzhen, Guangdong, primarily responsible for producing R&D samples.

According to Frost & Sullivan, the global collaborative robot industry remains highly concentrated. In 2024, the top five companies worldwide will hold 42.1% of the market share. The company is the second-largest collaborative robot company in China, with a market share of 10.3%, and ranks among the top five global companies in 2024, with a share of 3.5%.

Financially, in the years 2022, 2023, 2024, and the nine months ending September 30, 2025, the company’s revenue was approximately RMB 109 million, RMB 175 million, RMB 310 million, and RMB 281 million, respectively. During the same periods, profits were approximately -83.37 million, RMB 1.9 million, RMB 17.87 million, and -15.59 million.