ROBOTECHNIK (03757) opened its public offering on September 21 and closed it on September 24. Subscription has now ended, and the shares will be listed and traded on the Hong Kong Stock Exchange on September 29.
As of noon on September 24, based on a public offering size of HK$517.79 million, margin financing subscriptions for ROBOTECHNIK reached approximately HK$3.593 billion, representing an oversubscription of 5.93 times.
The company plans to globally offer 11.876 million H shares, with approximately 10% allocated to the Hong Kong public offering and approximately 90% to the international offering, plus an over-allotment option of approximately 15%. The offer price will not exceed HK$436 per offer share, with each board lot consisting of 50 shares. Citi, Huatai International and Orient Securities International are its joint sponsors.
ROBOTECHNIK is a global supplier of manufacturing equipment and systems for the photovoltaic industry and the silicon photonics industry. Its photovoltaic manufacturing solutions include (i) photovoltaic manufacturing equipment, mainly automation equipment used in photovoltaic cell production, performing functions such as silicon wafer loading and unloading; (ii) complete production lines, in which the company integrates its own equipment with equipment procured from third-party suppliers as needed, together with related design, configuration and installation services, to provide complete solutions tailored to customers' specific needs; and (iii) intelligent manufacturing systems, a software-centric solution built around the company's proprietary R2FabMES platform to enable automated factory operations at customers' production facilities.
According to China Insights Consultancy, based on 2025 revenue, the company ranked fifth globally in the intelligent photovoltaic cell automated manufacturing equipment sector with a market share of 2.6%, and ranked first globally in the silicon photonics intelligent manufacturing equipment sector with a market share of 20.5%.
ROBOTECHNIK's 2026 interim report shows that during the reporting period, the company achieved operating revenue of RMB608 million, a year-on-year increase of 144.82%. It achieved net profit attributable to shareholders of the listed company of RMB6.5568 million. It achieved net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses of RMB3.8804 million. As of the date of the report's disclosure, the amount of orders on hand for which revenue had not yet been recognized was approximately RMB3.386 billion.
Regarding the use of proceeds, of the net proceeds from the global offering (assuming the over-allotment option and the offer size adjustment right are not exercised), approximately 20.0% will be used to strengthen product and technology research, development and innovation; approximately 40.0% will be used to expand production capacity and improve delivery speed; approximately 10.0% will be used to establish a global sales and service network; approximately 20.0% will be used for strategic investments and/or acquisitions; and approximately 10.0% will be used as working capital and for other general corporate purposes.
In addition, the company has entered into cornerstone investment agreements with cornerstone investors, pursuant to which the cornerstone investors have agreed, subject to certain conditions, to subscribe for or procure their designated entities to subscribe for the relevant number of offer shares at the offer price for an aggregate amount of approximately US$232.4 million. The company's cornerstone investors include: Temasek Holdings (Private) Limited, Shengtian Industrial Group (Hong Kong) Limited, Ivy Asset Management (Hong Kong) Limited, E Fund Management Co., Ltd., E Fund Management (Hong Kong) Co., Limited, Shanghai Cambridge Technology Co., Ltd., Victory Privilege Fund OFC-Winner Global Fund, Wind Sabre Fund SPC, Chengheng International Group Limited, Arrowpoint Master Fund, Stable Growth Fund SP, Lu Hua Asset Management Limited, Bloom Capital Limited, Mr. Lai Pak Lam, Mr. Xia Shengli, Mr. Zhu Guodong and Mr. Zheng Xiaofeng.
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