Introduction MIDAS HLDGS-S (Stock Code: 01021) is conducting a Global Offering of 80.79 million H Shares (subject to the Offer Size Adjustment Option and the Over-allotment Option) at an offer price of HK$17.00 per H Share. The Hong Kong Public Offering portion comprises 4.04 million H Shares (subject to reallocation), while the International Offering comprises 76.75 million H Shares (subject to reallocation and options). Dealings in the H Shares on the Hong Kong Stock Exchange are expected to commence at 9:00 a.m. on Monday, March 30, 2026.
Company Overview Founded in 2017, MIDAS HLDGS-S is a collaborative robotics enterprise specializing in “cobots” (collaborative robots) and core motion components. The company’s product lines, including the E Series for precise assembly and the S Series for higher payload tasks, serve customers in healthcare, automotive, electronics, metal processing, and logistics. Leveraging proprietary hardware and software platforms, MIDAS HLDGS-S also provides frameless torque motors, servo drives, and joint modules sold as standalone components.
Industry Overview The global robot market grew from RMB256.00 billion in 2020 to RMB431.60 billion in 2024 and is projected to maintain momentum. Within this space, the collaborative robot segment expanded rapidly, driven by rising demand for flexible automation, safer human–robot collaboration, and cost-effective solutions. China’s share of the global robotics market has been significant, with increasing adoption of cobots in manufacturing, healthcare, and emerging applications such as humanoid robotics.
Financial Overview • Revenue: Increased from RMB310.44 million in 2024 to RMB386.87 million in 2025, a growth of 24.60%. • Gross Profit: Reached RMB145.47 million for 2025, compared to RMB106.43 million for 2024, reflecting a gross margin of 37.60%. • Profit/Loss: Turned from a net profit of RMB17.87 million in 2024 to a net loss of RMB29.92 million in 2025, influenced by higher R&D and administrative costs. • Cash Position: Cash and cash equivalents stood at RMB74.33 million as of December 31, 2025. • Production Capacity: Facilities in Foshan and Shenzhen produce a range of cobots serving both domestic and overseas markets for system integrators and industrial automation needs.
Cornerstone Investors Cornerstone investors have agreed to subscribe for a total of 45.27 million Offer Shares (approximately US$98.40 million in aggregate) at HK$17.00 per Share. These investors include institutional funds and corporate entities, each subject to a six-month lock-up arrangement beginning on the Listing Date. Their participation underscores interest in the company’s cobot technologies and expansion plans.
Use of Proceeds From the Global Offering, MIDAS HLDGS-S expects net proceeds of around HK$1,280.40 million, designated for the following: • 55.00% for research and development, with a focus on next-generation cobot technologies, precision motion platforms, and humanoid robot components. • 20.00% for overseas business development, including overseas subsidiaries and marketing efforts in key markets such as China, the United States, Germany, and Japan. • 15.00% for expanding and upgrading production facilities, targeting incremental increases in manufacturing capacity. • 10.00% for working capital and general corporate purposes.
Any additional proceeds from exercising the Offer Size Adjustment Option or Over-allotment Option will be allocated proportionally to these categories.
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