极智嘉IPO募资规模创迄今为止港股机器人企业之最：国配超30倍，主权财富基金、大量国际长线基金参与认购

Core Viewpoint - The article highlights the successful IPO of Beijing Jizhi Technology Co., Ltd. (Jizhi) on the Hong Kong Stock Exchange, raising a total of HKD 2.71162 billion, marking the largest fundraising for a robotics company in the Hong Kong market to date [2][3]. Group 1: IPO Details - Jizhi issued 161.4 million H shares, exercising a 15% over-allotment option due to high demand, compared to the initial plan of 140.4 million shares [2]. - The Hong Kong public offering was oversubscribed by 133.62 times, while the international offering was oversubscribed by 30.17 times, the highest for international placements in Hong Kong this year [2]. - The final issue price was set at HKD 16.8 per share, resulting in a total fundraising amount of HKD 2.71162 billion [2]. Group 2: Investor Interest - Jizhi attracted significant interest from sovereign wealth funds, international long-term funds, technology-focused funds, and hedge funds, indicating strong market consensus on the warehouse robotics sector and recognition of Jizhi's commercial capabilities and technological value [3]. - The cornerstone investors included top international long-term investment institutions and private equity funds, with a total subscription of USD 91.3 million (approximately HKD 716.7 million) [3]. Group 3: Financial Performance - Jizhi's revenue grew from CNY 790 million in 2021 to CNY 2.41 billion in 2024, representing a compound annual growth rate (CAGR) of 45% [4]. - The adjusted EBITDA improved significantly from a loss of CNY 672 million in 2021 to a loss of CNY 25 million in 2024, with the adjusted net loss rate decreasing to 3.8% in 2024 [4]. - Jizhi is positioned to achieve profitability soon, showcasing a financial state characterized by high scale, high growth, and low losses, which is rare among established To B robotics companies [4]. Group 4: Market Position and Growth Potential - Jizhi has become the largest provider of Autonomous Mobile Robot (AMR) warehouse solutions globally, serving approximately 806 end customers across various regions and industries [5]. - In 2024, 72.1% of Jizhi's AMR solution revenue came from markets outside mainland China, compared to an average of 20% for domestic peers [5]. - The global AMR solutions market is projected to grow from CNY 13.3 billion in 2020 to CNY 38.7 billion in 2024, with a CAGR of 30.6%, indicating a significant growth opportunity for Jizhi [5][6].