Chinese robotics startup Huayan Robotics has reportedly filed a confidential initial public offering in Hong Kong with the expectation of raising about US$200 million (HK$1.56 billion), joining the listing spree among mainland robot makers.
The Shenzhen-headquartered collaborative robot maker may debut in the coming months, Bloomberg News reported, citing people familiar with the matter. The size and the timing may change.
Huayan, formerly known as Han's Robot, focuses on the research and development, promotion and application of intelligent collaborative robots across industries such as manufacturing, healthcare, logistics, education, and service.
With the first generation Cobot released in 2017, Huaya’s business spans over 40 countries and regions worldwide, according to its website.
After the investment frenzy in robotics startups in the first half of the year, mainland robot makers are seemingly facing listing pressure.
Last month, star company Unitree Robotics reported to the China Securities Regulatory Commission that it has started preparing for an IPO in the mainland market. AgiBot, founded by an ex-Huawei talent, proposed to acquire a Shanghai-listed company despite the rejection of backdoor listing speculations.
