港股“协作机器人第一股” 启动回A计划

Group 1 - The company, Shenzhen Yuejiang Technology Co., Ltd., has announced plans to initiate an initial public offering (IPO) of RMB ordinary shares and list on the Shenzhen Stock Exchange, referred to as "proposed A-share listing" [2] - Yuejiang was listed on the Hong Kong Stock Exchange on December 23, 2024, becoming the first stock of collaborative robots in Hong Kong, with a global offering of 40 million H-shares and a net fundraising amount of approximately HKD 681 million [6] - Since its listing, Yuejiang has been active in the Hong Kong market, completing a share financing round in July 2025 that raised HKD 1.022 billion, followed by another placement of 16.66 million new H-shares at HKD 46.8 per share in November, raising an additional HKD 771 million [6] Group 2 - In the first half of 2025, Yuejiang achieved revenue of RMB 153 million, a year-on-year increase of 27.1%, while narrowing its net loss to RMB 40.87 million, a reduction of 31.8% [6] - The six-axis collaborative robot is the main revenue driver for Yuejiang, generating RMB 93.65 million in the first half of 2025, accounting for 61.2% of total revenue [7] - The commercial application of collaborative robots has become a growth highlight for the company, with revenue in this segment surging by 165.5% year-on-year, indicating rapid deployment in new commercial retail scenarios [7] Group 3 - The decision to return to the A-share market occurs against the backdrop of a financing boom in the robotics industry and rapid growth in the domestic collaborative robot market, with an expected sales volume of 50,300 units in 2025, a year-on-year increase of 25.75% [7] - In the first three quarters of 2025, there were 610 new financing events in the domestic robotics industry, doubling from 294 in the same period last year, with total financing for robotics startups reaching approximately RMB 50 billion, 2.5 times that of the previous year [8] - Market observers believe that Yuejiang aims to achieve a higher valuation and stronger liquidity through the A-share listing, as the A-share market typically offers more favorable valuations for high-tech companies [9]