Mech-Mind Robotics Technologies is seeking a valuation of as much as US$1.62 billion in a Hong Kong initial public offering, as the Chinese maker of industrial-robot components taps investor demand for embodied artificial intelligence.

The Beijing-based company is offering 23.1 million shares with at a price range of 95.30 Hong Kong dollars to HK$101.70, according to its prospectus published Monday.

The offering could raise about HK$2.35 billion, equivalent to US$299.8 million, at the top of the price range, before expenses and any overallotment. Trading is expected to begin Sept. 1.

Mech-Mind has secured commitments from cornerstone investors including Baillie Gifford and Taikang Life for US$186 million of shares, equivalent to more than 60% of the shares on offer depending on the final price.

The company makes 3-D cameras and software that provide robots with what it calls their "eyes and brains," and is expanding into large multimodal models and dexterous robotic hands. Its products have been sold in almost 50 countries and regions, Mech-Mind said.

Revenue in 2025 rose 45% to 388.8 million yuan, equivalent to US$57.8 million, from a year earlier, while first-quarter 2026 revenue jumped 73% to 106.9 million yuan.

The company remains loss-making, posting a 360.2 million yuan net loss for 2025, though its gross margin climbed to 64.6%.

Mech-Mind plans to use about 32% of the IPO proceeds for research and development, including its Mech-GPT models, while another 25% will fund new products and applications.

A slew of Chinese robotics companies are racing to list this year amid investor appetite fueled by Beijing's push to become a global leader in the physical AI industry. Industry leader Unitree Robotics recently listed in Shanghai.