SIASUN(SZ:300024) Sou Hu Cai Jing·2025-10-09 03:44Core Viewpoint - Cloudwalk Technology, a pioneer in the development and commercialization of robotic service agents, is conducting an IPO on the Hong Kong Stock Exchange from October 8 to 13, 2023 [3][9]. Company Overview - Founded in 2014, Cloudwalk Technology primarily provides robots and functional suites, supplemented by AI digital systems [3]. - The company's robots have been deployed in over 30,000 locations globally, including hotels, hospitals, factories, and residential buildings across regions such as the Middle East, Americas, South Korea, Japan, and Thailand [3]. Financial Performance - The company remains in a loss-making position, with projected revenues of RMB 161.28 million, RMB 145.15 million, and RMB 244.78 million for the years 2022, 2023, and 2024 respectively [5][6]. - Net losses are expected to be RMB 365 million, RMB 265 million, and RMB 185 million for the same years [5][6]. - In the first five months of 2025, the company reported revenue of RMB 88.33 million, an 18.9% increase year-on-year, with a net loss of RMB 118 million [5]. IPO Details - Cloudwalk Technology plans to issue 6.9 million shares globally, with 5% allocated for public offering at a price of HKD 95.6 per share [9]. - The entry fee for one lot (50 shares) is HKD 4,828.21, and there are no cornerstone investors involved [9]. - The underwriting mechanism follows Plan A, allowing for a 20% reallocation if subscriptions exceed 50 times [9]. Market Context - The IPO has seen significant interest, with over 200 times subscription, indicating a potentially high allocation rate for investors [11]. - The subscription period for Cloudwalk Technology coincides with another IPO, which may affect investor choices [11].