Chenxing Technology has once again submitted its application to the Hong Kong Stock Exchange main board, according to an August 18 disclosure. The company's exclusive sponsor is Huatai International, marking its second attempt at a Hong Kong listing.

The company specializes in high-speed industrial robots, focusing on the research and development, production, sales, and service of high-velocity, high-reliability robotic systems. Its product portfolio spans four series: parallel robots, high-speed SCARA robots, heavy-duty collaborative robots, and embodied intelligent robots. Leveraging its extensive lineup, the firm also delivers customized automated and intelligent robotic solutions tailored to client requirements.

The company targets automation and intelligence upgrades in core application scenarios such as high-speed sorting, precision assembly, and accurate handling. Its products and solutions are widely deployed across industries including food and beverages, daily chemicals, pharmaceuticals, new energy, 3C electronics, and automotive manufacturing.

As a key player in the high-speed industrial robot arena, the company has established a leading position in the parallel robot market. These product categories represent specialized segments within the broader industrial robotics industry, accounting for approximately 7% and 5% of the global market in 2025, respectively.

According to Frost & Sullivan data, the company has held the largest market share among Chinese robot manufacturers in the domestic parallel robot market since 2020, and has ranked first globally among robot makers in this segment since 2023. In terms of 2025 shipment volumes, it ranked first in China's parallel robot sector with a 20.4% market share, and second globally with a 7.7% share. For high-speed industrial robots specifically, the company secured the top spot in China with a 13.4% market share and fourth place globally with a 5.2% share in 2025.

During the performance period, the majority of the company's revenue was generated from the Chinese market. Its high-speed industrial robots have been successfully deployed across multiple fields, with its parallel robots holding a leading market position in China's food and beverage, daily chemicals, and pharmaceutical industries. Additionally, the company has achieved fruitful results in new sector development, currently serving as the largest parallel robot supplier in China's new energy industry, while continuously expanding its footprint in 3C electronics and automotive applications to broaden its market coverage.

The company reported revenue of approximately RMB 93.49 million for fiscal 2023, RMB 135 million for fiscal 2024, RMB 253 million for fiscal 2025, and RMB 135 million for the six months ended June 30, 2026. Profit figures for the same periods stood at a loss of RMB 39.25 million, a loss of RMB 47.07 million, a profit of RMB 739,000, and a loss of RMB 28.8 million, respectively.

Industrial robots serve as the cornerstone of advanced manufacturing, driving production systems toward higher levels of intelligence, automation, and flexibility. Against the backdrop of ongoing smart manufacturing initiatives and structurally rising labor costs, industrial robots are increasingly adopted as key automation equipment to replace repetitive, labor-intensive, and hazardous tasks, thereby supporting improvements in production efficiency, process stability, and product quality.

In 2021, both global and Chinese industrial robot markets experienced significant growth, with shipment values rising approximately 25.5% and 28.5% year-over-year, respectively. This rapid expansion was primarily driven by explosive downstream demand, particularly from the new energy vehicle sector. That same year, global and Chinese NEV sales surged approximately 102.4% and 157.6% year-over-year, significantly accelerating capital investment and capacity expansion in vehicle manufacturing and power battery production, which in turn stimulated concentrated demand for industrial robots across key manufacturing processes.

From 2021 to 2025, both global and Chinese industrial robot shipment values followed a clear upward trajectory, growing from approximately RMB 93.5 billion and RMB 40.4 billion to around RMB 122.6 billion and RMB 57.4 billion, respectively, representing compound annual growth rates of roughly 7.0% and 9.2%. During this period, China's share of global industrial robot shipment value increased from approximately 43.2% to 46.8%, reflecting its growing prominence in the global market.

Looking ahead, the industrial robot market is expected to maintain steady growth, supported by continued smart manufacturing adoption, rising labor costs, and accelerated industrial automation. By 2030, global industrial robot shipment value is projected to reach approximately RMB 214.2 billion, while China's is expected to hit around RMB 107.5 billion, cementing its position as the world's largest industrial robot market.

The company's board comprises seven directors: two executive directors, two non-executive directors, and three independent non-executive directors. All directors are elected by the shareholders' meeting, serving three-year terms with eligibility for re-election. The board's primary responsibilities include convening shareholders' meetings, reporting to shareholders, executing resolutions passed by the shareholders' meeting, determining the group's operating plans and investment proposals, approving annual financial budgets and settlement plans, establishing fundamental management systems, formulating profit distribution and loss recovery plans, and exercising other authorities granted under the company's articles of association.

As of the latest practicable date of August 10, 2026, Mr. Liu, Mr. Song, Ms. Yang Junwen, Chenxing Haoyou, Chenxing Xiongdi, and Chenxing Huoban held approximately 11.11%, 9.20%, 3.94%, 3.82%, 3.25%, and 2.66% of the company's issued share capital, respectively. Under a concert party agreement, Mr. Song, Chenxing Huoban, Chenxing Haoyou, Chenxing Xiongdi, and Ms. Yang Junwen have agreed to act in concert with Mr. Liu and follow his decisions when exercising their voting rights at shareholders' meetings. This agreement will remain in effect following the proposed listing.

The professional team includes Huatai Financial Holdings (Hong Kong) as exclusive sponsor; Baker McKenzie and Beijing DeHeng Law Offices as legal advisors; King & Wood Mallesons and Beijing Commerce Law Firm as the sponsor's legal counsel; Ernst & Young as auditor and reporting accountant; and Frost & Sullivan (Beijing) Consulting Shanghai Branch as the independent industry advisor.