ESTUN AUTOMATION(SZ:002747) 智通财经网·2026-01-15 11:27Core Viewpoint - Nanjing Estun Automation Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with Huatai International as the sole sponsor. The company ranks first in the domestic industrial robot shipment volume among local enterprises and sixth globally by revenue in the industrial robotics sector [1][4]. Company Overview - Estun is a leading enterprise in China's industrial robotics sector, maintaining the highest shipment volume among domestic companies for several consecutive years. In the first half of 2025, Estun surpassed foreign brands in domestic market shipments, marking a historic achievement [4]. - The company provides industrial robots and intelligent manufacturing systems, as well as core automation components and motion control systems to various manufacturing sectors, including automotive, engineering machinery, heavy industry, and lithium battery production [4]. Financial Information - Revenue for the years ending December 31 and the nine months ending September 30 is as follows: - 2022: 3.88 billion RMB - 2023: 4.65 billion RMB - 2024: 4.01 billion RMB (projected) - 2025: 3.80 billion RMB (projected) [8] - The net profit/loss for the same periods is: - 2022: 183.56 million RMB (profit) - 2023: 133.63 million RMB (profit) - 2024: -817.69 million RMB (loss) - 2025: 29.70 million RMB (projected profit) [9] - Gross margin percentages for the years are: - 2022: 32.9% - 2023: 31.3% - 2024: 28.3% - 2025: 28.2% (projected) [11] Industry Overview - The global industrial robotics solutions market has seen significant growth, with revenue increasing from $14.7 billion in 2020 to a projected $25.4 billion in 2024, representing a compound annual growth rate (CAGR) of 14.6%. The market is expected to reach $51.8 billion by 2029, with a CAGR of 15.4% from 2024 to 2029 [12]. - China is a key driver of this growth, with the market size expected to grow from $6.9 billion in 2020 to $12.7 billion in 2024, reflecting a CAGR of 16.5%. By 2029, the market size in China is projected to reach $28.8 billion, with a CAGR of 17.8% from 2024 to 2029 [12].