RoboTechnik(SZ:300757) Zhi Tong Cai Jing·2025-10-28 12:43Core Viewpoint - Robotech Intelligent Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with Huatai International, Citigroup, and Orient Securities International as joint sponsors [1]. Company Overview - Robotech is a high-precision intelligent manufacturing equipment and systems supplier, focusing on automation equipment and smart factory solutions for manufacturing optical interconnects, optical sensors, optical computing products, and photovoltaic (PV) cells [3]. - The company specializes in providing high-precision assembly and testing equipment for silicon photonic devices and PV cell manufacturing solutions [3]. Market Opportunity - The silicon photonics intelligent manufacturing equipment market is experiencing rapid growth, with the global market size projected to increase from RMB 400 million in 2020 to RMB 2 billion in 2024, representing a compound annual growth rate (CAGR) of 46.9%. By 2029, the market is expected to reach RMB 23.3 billion, with a CAGR of 63.8%, and further grow to RMB 115 billion by 2035, with a CAGR of 30.5% [3]. Technology and Acquisitions - In 2020, the company made an initial investment in ficonTEC and subsequently fully acquired it, gaining proprietary and hard-to-replicate core technologies for assembling and testing silicon photonic devices [4]. - The company has a global business presence, with ficonTEC operating six sales offices worldwide as of June 30, 2025, covering Europe, North America, and Asia [4]. Product Offerings - The company offers a comprehensive range of intelligent manufacturing equipment for PV cells, supporting key production steps and providing end-to-end copper interconnection solutions based on copper plating technology [5]. - According to data from Frost & Sullivan, the company ranks fourth globally in the intelligent PV cell automation manufacturing equipment sector by revenue in 2024, with eight of the top ten global PV manufacturers as its clients [5]. Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, were approximately RMB 901 million, RMB 1.57 billion, RMB 1.1 billion, and RMB 248 million, respectively. The corresponding net profits (or losses) were approximately RMB 25.6 million, RMB 79.5 million, RMB 63.2 million, and a loss of RMB 12.2 million [5][6].