Hong Kong's stock market robotics sector is welcoming another heavyweight contender.
On January 23, Zhejiang Jiazhi Technology Co., Ltd. (hereinafter referred to as "Jiazhi Technology") formally submitted its listing application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation Limited (CICC) acting as the sole sponsor. This tech enterprise, originating from the Zhejiang University ecosystem, is backed by prominent investors including ByteDance and Lenovo.
Founded in 2016 by Dr. Xiong Rong, a professor at Zhejiang University, together with a core team, the majority of Jiazhi Technology's key members hail from the Robotics Laboratory of Zhejiang University's College of Control Science and Engineering. The company is one of the few global providers of general-purpose intelligent mobile robot solutions possessing full-stack, self-developed technology. All of its products and solutions are built upon a unified core technology platform, integrating multi-modal perception, a self-developed 4C core technology architecture, and scalable software and hardware stacks, enabling reliable operation, high-precision spatial perception and mobility control, as well as large-scale cluster scheduling in complex environments. As of September 30, 2025, Jiazhi Technology held 182 granted patents and had 14 patent applications pending approval in China.
According to data from CIC Consulting, measured by order value (as of January 16, 2026), Jiazhi Technology has ranked among the top ten intelligent mobile robot companies globally. In the specific field of industrial intelligent mobile robots, it has become one of the top five companies worldwide and one of the top three in China.
CIC Consulting's data indicates that Jiazhi Technology is one of the few companies globally capable of deploying general-purpose intelligent mobile robot solutions in large-scale clusters exceeding 2,500 robots. Currently, the company delivers diversified solutions to hundreds of clients across various sectors including electronics, automotive, semiconductors, new energy, commercial, and pharmaceuticals, and also provides a series of products and solutions to downstream embodied intelligence enterprises. The company's robots have been sold in multiple countries and regions, with its clientele covering global industry leaders across numerous sectors.
The company's shareholder lineup is notably impressive, comprising a diverse range of entities including local state-owned capital, industrial giants, and leading investment institutions. Among them, founder Xiong Rong directly and indirectly controls an aggregate of 29.61% of the shares, making her the single largest shareholder. Quzhou High Quality and Lenovo Fund hold stakes of 7.04% and 5.80% respectively, while ByteDance's wholly-owned subsidiary, Quantum Jump, holds 3.0882 million shares, representing a 4.93% stake.
Despite rapid revenue growth, the company has not yet achieved profitability. Financial data shows that for 2023, 2024, and the first nine months of 2025, Jiazhi Technology's revenues were RMB 75 million, RMB 115 million, and RMB 201 million, respectively. Corresponding net losses were RMB 114 million, RMB 118 million, and RMB 72 million, while corresponding adjusted net losses were RMB 78 million, RMB 78 million, and RMB 36 million.
The prospectus discloses that the proceeds from this Hong Kong IPO are intended for the following purposes: advancing the research and development of the company's core components, fundamental technology platform, robot products, and software systems; allocation for capacity expansion and digital upgrades; expanding and strengthening the company's sales and service network; seeking strategic alliances, investments, and acquisition opportunities in the upstream and downstream robotics industry chain; and expected use as working capital and for general corporate purposes to support the company's business operations and growth.
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