Core Viewpoint - XianGong Intelligent Technology Co., Ltd. is updating its prospectus for an IPO on the Hong Kong Stock Exchange, aiming to raise funds for technological development, infrastructure, acquisitions, and establishing a global sales system [1][3]. Company Overview - Founded by Zhao Yue and his team, XianGong Intelligent focuses on robotics and has a strong background in competitive robotics, having won RoboCup championships [3]. - Zhao Yue, with over ten years of experience in robotics, leads the company and holds 17.05% of its shares, controlling approximately 52.89% of voting rights through various platforms [5][7]. Financial Performance - XianGong Intelligent's revenue has shown consistent growth, with sales figures of approximately 1.03 billion, 1.49 billion, and 2.36 billion RMB for 2022, 2023, and projected for 2024, respectively [10][11]. - The company reported a net loss of approximately 32.26 million, 47.70 million, and 42.31 million RMB for the years 2022, 2023, and projected for 2024 [12]. Investment and Funding - The company has successfully completed multiple funding rounds, including a recent C round raising 70 million RMB, with a post-investment valuation of approximately 3.27 billion RMB [4][5]. - Major investors include IDG Capital, Kewo Si, and others, with significant stakes held by institutional investors [4][7]. Market Position - XianGong Intelligent ranks eighth globally and fifth in China in the industrial intelligent robot market, with market shares of 1.1% and 2.7%, respectively [8]. - The company is the leading provider of robot controllers globally, with a market share of 23.6% [8]. Product and Service Offering - The company provides a comprehensive solution combining controllers, software, and robots, catering to over 20 industry segments, including 3C, automotive, and pharmaceuticals [10][11]. - As of mid-2023, XianGong Intelligent has adapted its controllers for over 300 components and supports more than 1,600 integrators and end customers [8].