埃斯顿于2月27日至3月4日招股，拟全球发售9678万股H股

Group 1 - The company, Estun, is set to launch an IPO from February 27 to March 4, 2026, offering 96.78 million H-shares, with 10% allocated for Hong Kong and 90% for international sales, and an over-allotment option of 15% [1] - Estun has maintained its position as the leading domestic industrial robot manufacturer in China, achieving a historic milestone in the first half of 2025 by surpassing foreign brands in domestic market shipments [1] - By revenue, Estun ranks sixth among all manufacturers globally and in China, with market shares of 1.7% and 2.0% respectively for 2024 [1] Group 2 - The company's revenue for the years 2022, 2023, 2024, and the first nine months of 2024 and 2025 were RMB 3.881 billion, RMB 4.652 billion, RMB 4.009 billion, RMB 3.370 billion, and RMB 3.804 billion respectively [2] - Estun has secured cornerstone investment agreements with several investors, totaling approximately USD 66.91 million, indicating strong confidence in the company's business prospects [2] - The net proceeds from the global offering, assuming no exercise of the over-allotment option and a share price of HKD 16.18, are estimated to be around HKD 1.486 billion, with allocations for production capacity expansion, strategic alliances, R&D, service capability enhancement, loan repayment, and working capital [3]