SIASUN(SZ:300024) 3 6 Ke·2025-12-18 05:58Core Viewpoint - Woan Robotics is set to become the first publicly listed company in the AI embodied home robot sector, with its IPO scheduled from today until the 23rd, aiming for a listing on the Hong Kong Stock Exchange by December 30, 2025 [1][2]. Group 1: IPO Details - Woan Robotics plans to issue 22,222,300 H-shares, with 2,222,300 shares available for public sale in Hong Kong and 20,000,000 shares for international sale [2]. - The IPO price range is set between HKD 63 and HKD 81 per share, leading to a market valuation between HKD 14 billion and HKD 18 billion, with a maximum fundraising target of approximately HKD 1.8 billion [2]. - The company has secured seven cornerstone investors, collectively committing around USD 90 million (over HKD 700 million), with Hillhouse Capital being the largest investor at USD 30 million [2]. Group 2: Product and Market Position - Woan Robotics is recognized as the only company globally to comprehensively develop AI embodied home robot systems, holding an 11.9% market share in 2024 [3][9]. - The company has launched several innovative products, including the world's first AI tennis robot, Acemate, which has achieved over USD 16.5 million in crowdfunding, and the AI companion robot, Kata Friends, which won two IFA innovation awards [5][7]. - The upcoming humanoid home robot, H1, is set to launch in January 2026, designed to handle complex household tasks [7]. Group 3: Financial Performance - Revenue figures for Woan Robotics from 2022 to 2024 are projected at CNY 275 million, CNY 457 million, and CNY 610 million, reflecting a compound annual growth rate of 49.0% [8]. - The company reported a year-on-year revenue growth of over 44% in the first half of this year, reaching CNY 396 million [8]. - Gross margins have shown a consistent upward trend, with figures of 34.3%, 50.4%, 51.7%, and 54.2% from 2022 to the first half of this year [8].