公司已与Harvest Oriental、亨通光电国际、Dream'ee HK Fund、至源、Haitian Huayuan、裕祥及前海合 众投资订立基石投资协议，基石投资者将按发售价认购总金额约6691万美元的发售股份。 基石配售表明了基石投资者对公司及其业务前景充满信心，且凭藉基石投资者的投资或行业经验，基石 配售将有助于提升公司形象。 中国工业机器人领军企业埃斯顿(2715.HK)发布公告，公司拟全球发售9678万股H股，中国香港发售股 份967.8万股，国际发售股份8710.2万股；2026年2月27日至3月4日招股，招股价介乎15.36港元至17港 元，集资最多16.45亿港元（绿鞋前）。每手为200股，入场费3434.29港元。华泰国际为其独家保荐人； 预期将于2026年3月9日上市。 埃斯顿主要向从事汽车、工程机械及重工业以及锂电池等多个制造领域的客户提供工业机器人及智能制 造系统及自动化核心部件及运动控制系统。根据弗若斯特沙利文的资料，埃斯顿在中国工业机器人解决 方案市场中，连续多年保持本土企业工业机器人出货量第一名。根据同一机构的资料，埃斯顿在2025年 上半年取得历史性突破，国内市场上工 ...

公司已订立基石投资协议，据此，基石投资者已同意在若干条件的限制下，按发售价认购或促使其指定 实体认购一定数量的发售股份，该等发售股份可按总金额约6691万美元(或约5.23亿港元)认购。基于发 售价每股发售股份17.00港元(即本招股章程所载指示性发售价范围的上限)，基石投资者将认购的发售股 份总数将为3076.36万股。基石投资者包括Harvest Oriental、亨通光电国际(由亨通光电(600487.SH)全资 拥有)、Dream'ee HK Fund、至源控股(00990.HK)、Haitian Huayuan、裕祥(由网誉科技(01483.HK)全资拥 有)、前海合众投资。 公司估计，假设超额配股权未获行使，且发售价为每股H股16.18港元(即本招股章程所述的指示性价格 范围的中位数)，公司将收到约14.86亿港元的全球发售所得款项净额。根据公司的战略，公司目前计划 将这些所得款项净额用于以下用途，但可根据业务需要的变化和市场环境的变动进行调整：(i)约25.0% 将用于扩充公司的全球生产能力；(ii)约25.0%将用于在全球工业机器人产业链上下游有选择地寻求战略 联盟、投资及收购机会；(iii) ...

埃斯顿（002747）(02715)于2026年2月27日至2026年3月4日招股，公司拟全球发售9678万股H股，其 中，香港发售占10%，国际发售占90%，另有超额配股权15%。每股发售价15.36港元-17港元，每手200 股，预期H股将于2026年3月9日(星期一)上午9时正开始在联交所买卖。 我们是中国工业机器人领军企业。根据弗若斯特沙利文的资料，我们在中国工业机器人解决方案市场 中，连续多年保持本土企业工业机器人出货量第一名。根据同一机构的资料，我们于2025年上半年取得 历史性突破，国内市场上工业机器人出货量超越外资品牌，成为首家登顶中国工业机器人解决方案市场 的国产机器人企业。按收入计，我们亦跻身于工业机器人公司前列，按2024年收入计，我们在全球市场 及中国市场的所有制造商中均排名第六，市场份额分别为1.7%及2.0%。 公司主要向从事汽车、工程机械及重工业以及锂电池等多个制造领域的客户提供工业机器人及智能制造 系统及自动化核心部件及运动控制系统。 于往绩记录期间，我们于2022年、2023年、2024年以及2024年及2025年首9个月的收入分别为人民币 38.81亿元、人民币46.52亿 ...

2月25日，埃斯顿跌0.25%，成交额4.85亿元。两融数据显示，当日埃斯顿获融资买入额4170.74万元， 融资偿还3229.79万元，融资净买入940.96万元。截至2月25日，埃斯顿融资融券余额合计6.26亿元。 融资方面，埃斯顿当日融资买入4170.74万元。当前融资余额6.23亿元，占流通市值的2.97%，融资余额 低于近一年20%分位水平，处于低位。 融券方面，埃斯顿2月25日融券偿还6.71万股，融券卖出9000.00股，按当日收盘价计算，卖出金额21.80 万元；融券余量14.80万股，融券余额358.46万元，超过近一年60%分位水平，处于较高位。 分红方面，埃斯顿A股上市后累计派现3.79亿元。近三年，累计派现7803.56万元。 机构持仓方面，截止2025年9月30日，埃斯顿十大流通股东中，香港中央结算有限公司位居第三大流通 股东，持股2564.47万股，相比上期增加644.66万股。易方达国证机器人产业ETF（159530）位居第四大 流通股东，持股1789.55万股，相比上期增加1498.96万股。华夏中证机器人ETF（562500）位居第五大 流通股东，持股1432.19万股，相比 ...

Core Viewpoint - Estun Automation Co., Ltd. is set to become the first company from Nanjing to list overseas in 2023 after passing the Hong Kong Stock Exchange hearing, indicating a significant milestone for the company and the local capital market [1][4]. Company Overview - Established in February 2002, Estun specializes in the research, manufacturing, and sales of industrial robots, intelligent manufacturing systems, and core automation components [3]. - The company was listed on the Shenzhen Stock Exchange in March 2015 and has a total market capitalization of 21.148 billion RMB as of February 24, 2026 [3]. Industry Position and Growth - Estun has been a leader in the domestic robot market, achieving a continuous high growth trend and ranking first in the Chinese industrial robot market for eight consecutive years [4]. - The company has seen over 270% growth in the collaborative robot sector, making it one of the fastest-growing brands in this category [4]. - According to recent data, Estun's market share in the Chinese robot market is projected to reach 10.5% by 2025, with a year-on-year shipment growth of 25%, further increasing the domestic market share of industrial robots to over 56% [4]. Financial Performance - Estun's revenue for the years 2022 to 2024 is projected to be 3.881 billion RMB, 4.652 billion RMB, and 4.009 billion RMB, respectively [5]. - In the first three quarters of 2025, the company achieved a revenue of 3.804 billion RMB, reflecting a year-on-year growth of 12.86% [5].

据港交所文件显示，中国工业机器人领军企业南京埃斯顿自动化股份有限公司更新聆讯后资料集，意味 着该公司港交所IPO通过聆讯。 埃斯顿主要向从事汽车、工程机械及重工业以及锂电池等多个制造领域的客户提供工业机器人及智能制 造系统，以及自动化核心部件及运动控制系统。 埃斯顿2022年-2024年度，以及2025年截至9月30日止九个月，实现收入分别约38.81亿元、46.52亿元、 40.09亿元、38.04亿元。 根据弗若斯特沙利文的资料，埃斯顿在中国工业机器人解决方案市场中，连续多年保持本土企业工业机 器人出货量第一名。根据同一机构的资料，埃斯顿在2025年上半年取得历史性突破，国内市场上工业机 器人出货量超越外资品牌，成为首家登顶中国工业机器人解决方案市场的国产机器人企业。 ...

香港聯合交易所有限公司及證券及期貨事務監察委員會對本聆訊後資料集的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不就因本聆訊後資料集全部或任何部分內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 ESTUN AUTOMATION CO., LTD 南京埃斯頓自動化股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的聆訊後資料集 警告 本聆訊後資料集乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證 監會」）的要求而刊發，僅用作向香港公眾人士提供資料。 本聆訊後資料集為草擬本，其所載資料並不完整，亦可能會作出重大更改。 閣下閱覽本文件， 即表示 閣下知悉、接納並向本公司、其獨家保薦人、整體協調人、顧問或包銷團成員表示同 意： 倘於適當時候向香港公眾人士提出要約或邀請，準投資者務請僅依據向香港公司註冊處處長登 記的本公司招股章程作出投資決定。招股章程的文本將於發售期內向公眾人士派發。 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的。投資者不應根 據本文件所載資料作出任何投資決定； (b) 在聯交所網站登載本文件或 ...

Core Viewpoint - Estun Automation Co., Ltd. has submitted a second IPO application to the Hong Kong Stock Exchange after a previous application lapsed, aiming to expand its global production capacity and strengthen its market position in the industrial robotics sector [2][3]. Group 1: Company Overview - Estun is a leading Chinese industrial robotics company, primarily serving clients in automotive, engineering machinery, heavy industry, and lithium battery manufacturing [3]. - The company has maintained the highest shipment volume among domestic enterprises in China's industrial robotics solutions market for several consecutive years, surpassing foreign brands in 2025 [3]. - As of January 21, the company's market capitalization was approximately 21.9 billion yuan [2]. Group 2: Product and Brand Portfolio - Estun offers a range of industrial robots and automation core components, with 95 robot products covering payloads from 3 kg to 1200 kg [7]. - The company has acquired several brands, including Trio and M.A.i, enhancing its capabilities in high-end motion control solutions and intelligent manufacturing systems [4]. - Estun has established a global presence with 75 service points and seven manufacturing bases across major markets, including Europe and Southeast Asia [3]. Group 3: Financial Performance - Despite the overall growth in the global industrial robotics market, Estun's revenue has declined, with figures of 3.881 billion yuan in 2022, 4.652 billion yuan in 2023, and 4.009 billion yuan in 2024 [6]. - The company's net profit showed a significant drop, with a loss of 818 million yuan in the first nine months of 2025 [6]. - The gross margin has also decreased from 32.9% in 2022 to 28.2% in 2025, indicating ongoing financial challenges [8].

Core Viewpoint - Estun Automation Co., Ltd. has submitted a second listing application to the Hong Kong Stock Exchange after a previous application lapsed in June 2025, with a current market capitalization of approximately 21.9 billion yuan as of January 21 [1][10]. Company Overview - Estun is a leading Chinese industrial robot company providing automation solutions, including industrial robots, intelligent manufacturing systems, and core automation components to various manufacturing sectors such as automotive and heavy industry [3][12]. - The company has maintained the highest shipment volume among domestic enterprises in China's industrial robot solutions market for several consecutive years, surpassing foreign brands in 2025 [3][12]. - As of 2024, Estun ranks sixth globally and first in China by revenue in the industrial robot sector, with market shares of 1.7% and 2%, respectively [3][12]. Global Presence and Brand Portfolio - Estun operates 75 service outlets globally and has seven manufacturing bases in key domestic and international markets, including Europe, Southeast Asia, and the Americas [3][12]. - The company has established a localized production base in Europe and integrates global R&D resources from countries like Germany, the UK, and the USA [3][12]. - Estun owns multiple brands, including Estun, Cloos, Trio, and M.A.i, with the latter three acquired post its A-share listing in 2015 [3][12][14]. Financial Performance - Despite the global industrial robot solutions market growing significantly from $14.7 billion in 2020 to an expected $25.4 billion in 2024, Estun's revenue has declined during the reporting period [6][15]. - Estun's revenues for the years 2022 to 2024 were 3.881 billion yuan, 4.652 billion yuan, and 4.009 billion yuan, with net profits of 184 million yuan, 134 million yuan, and a loss of 818 million yuan, respectively [6][15]. - The company's gross margin has also decreased from 32.9% in 2022 to 28.2% in 2025 [8][17]. Strategic Plans for IPO Proceeds - The funds raised from the IPO are intended for expanding global production capacity, seeking strategic alliances, investing in R&D for next-generation industrial robot technologies, enhancing global service capabilities, repaying existing loans, and general corporate purposes [5][14].

Core Viewpoint - Estun Automation Co., Ltd. (referred to as "Estun") has submitted a second listing application to the Hong Kong Stock Exchange after a previous application lapsed in June 2025, aiming to leverage its position as a leading domestic industrial robot manufacturer in China [1][3]. Company Overview - Estun is a leading player in the Chinese industrial robot market, providing solutions to various manufacturing sectors including automotive, engineering machinery, and lithium battery industries. The company has maintained the highest shipment volume among domestic brands for several consecutive years [5]. - As of January 21, the total market capitalization of Estun was approximately 21.9 billion yuan [3]. Market Position - Estun achieved a historic milestone in the first half of 2025, surpassing foreign brands in domestic industrial robot shipments and ranking first in revenue among domestic companies. In 2024, Estun ranked sixth globally and in China by revenue, with market shares of 1.7% and 2%, respectively [5]. - The global industrial robot solutions market is projected to grow from $14.7 billion in 2020 to $25.4 billion in 2024, with a compound annual growth rate (CAGR) of 14.6%. The Chinese market is expected to grow from $6.9 billion to $12.7 billion during the same period, with a CAGR of 16.5% [10]. Financial Performance - Estun's revenue showed fluctuations during the reporting period from 2022 to 2025, with figures of 3.881 billion yuan, 4.652 billion yuan, 4.009 billion yuan, and 3.804 billion yuan, respectively. The net profit figures were 184 million yuan, 134 million yuan, -818 million yuan, and 30 million yuan, indicating a loss in 2024 [10][12]. - The company's gross margin has been declining, recorded at 32.9%, 31.3%, 28.3%, and 28.2% over the same period [13]. Product and Brand Portfolio - Estun has developed 95 types of industrial robots with payload capacities ranging from 3 kg to 1200 kg, including SCARA robots, collaborative robots, and specialized robots for various applications [11]. - The company owns multiple brands, including Estun, Cloos, Trio, and M.A.i, enhancing its capabilities in high-end motion control and intelligent manufacturing systems [6][7]. IPO Fund Utilization - The funds raised from the IPO are intended for expanding global production capacity, seeking strategic alliances, investing in R&D for next-generation industrial robot technologies, enhancing global service capabilities, repaying existing loans, and general corporate purposes [8].