Chinese Top Industrial Mobile Robot Maker Clears CSRC Filing for HKEX 18C IPO

China Securities Regulatory Commission (CSRC) has disclosed the overseas listing filing approval for Hefei Youai Zhihe Robot Co., Ltd., paving the way for the company to list on the Main Board of the Hong Kong Stock Exchange under Chapter 18C as a specialized technology company, with CICC acting as the sole sponsor.

According to a Frost & Sullivan report cited in the prospectus, the company ranked first globally and in China among industrial mobile manipulation robot companies by 2024 revenue, holding a 6.1% global share and a 12% share in China. Its 2024 revenue reached RMB 255 million, with R&D spending accounting for 24.5% of revenue. The company is also the first specialized technology company in Anhui Province to file for a Hong Kong IPO under Chapter 18C, having submitted its second application in March 2026 and received CSRC filing approval in October 2026.

Founded in 2017 by Zhang Chaohui, who developed robot prototypes with four fellow students in a tiny room in Shenzhen's Huaqiangbei, the company completed nine financing rounds backed by SoftBank Asia, IDG, Lanchi, and ZhenFund, reaching a pre-IPO valuation of RMB 2.08 billion.

As an industrial embodied AI company, the company applies its "one-brain, multi-form" architecture across semiconductors, lithium batteries, 3C, and energy, delivering over 800 projects. The architecture combines the MAIC industrial embodied AI model with a modular CBB hardware platform. In 2025, its overall gross margin was 36.5%, with customer repurchase rates exceeding 70% (75% for semiconductor customers).

Proceeds from the IPO are planned for continued R&D in embodied AI technology, building and upgrading multi-functional centers, enhancing international brand presence, and selective strategic investments or acquisitions along the industry chain.