Zhi Tong Cai Jing·2026-01-12 07:39Group 1 - The core point of the article is that Huichuan Technology, a leading Chinese industrial robot manufacturer, is considering a secondary listing in Hong Kong and has begun preliminary discussions with potential advisors regarding the offering [1] - The typical scale of such IPOs is usually between 5% to 10% of the company's market value, but details regarding the size and timing are still under discussion [1] - Huichuan Technology is a leader in the industrial automation sector, with its core business covering four major segments: general automation, new energy vehicles, smart elevators, and rail transit [1][2] Group 2 - In the general automation segment, Huichuan's core products include frequency converters, servo systems, PLC/HMI, high-performance motors, sensors, and machine vision, holding significant market shares in China: 28% in servo systems, 18.6% in medium and low-frequency transformers, and 27% in SCARA robot sales [1][2] - For the new energy vehicle segment, the company focuses on electric drive systems and power systems [1] - The financial report indicates that for the first nine months of 2025, Huichuan Technology achieved a revenue of 31.663 billion yuan, a year-on-year increase of 24.67%, and a net profit attributable to shareholders of 4.254 billion yuan, up 26.84% year-on-year [2]