Home embodied artificial intelligence robotic systems provider OneRobotics (Shenzhen) has passed its listing hearing with Hong Kong exchanges, paving the way for a potential initial public offering in the near term as approval processes typically accelerate toward year-end.
The company swung to a net profit of 27.9 million yuan (HK$30.8 million) in the first half of this year, compared with a loss of 13.6 million yuan a year earlier, while revenue rose 34 percent to 396 million yuan.
Founded in 2015, OneRobotics, formerly known as SwitchBot (Shenzhen), sells its products under the SwitchBot brand and offers 42 products across seven categories. The company launched its first smart switch device, SwitchBot Bot, in 2017, followed by the SwitchBot Curtain in 2020, the SwitchBot Lock in 2022 and the SwitchBot S10 robotic vacuum in 2023.
OneRobotics has completed 13 funding rounds. Founder Li Zhichen holds 44.53 percent of the company’s equity and voting rights, making him the largest shareholder.
Li Zexiang, a professor at the Hong Kong University of Science and Technology widely known as the “godfather of DJI,” serves as a non-executive director.
Guotai Junan International (1788) and Huatai International are joint sponsors of the proposed IPO.
