Physis Technology Files for Hong Kong IPO, CICC as Sole Sponsor

New Timespace News: Ningbo Physis Technology Co., Ltd. filed its IPO application with the Hong Kong Stock Exchange on May 13, 2026, with CICC as the sole sponsor.

The company is a well-known enterprise in China's electric drive solution market, with operations extending overseas. It provides comprehensive and customized electric drive systems and solutions, widely applied in two core areas: industrial control and new energy vehicles. The company is also actively expanding into next-generation technologies such as embodied robotics.

According to CIConsulting, by 2025 revenue, the company is the third largest specialized electric drive solution provider in China's industrial control sector; by both 2025 revenue and sales volume, it is the seventh largest third-party supplier of passenger car electric drive systems in China.

In specialized segments, by 2024 revenue, the company ranked second among dedicated electric drive solution suppliers in the air power field, second in the all-electric injection molding machine field, and third in the hydraulic injection molding machine field.

Electric drive systems are complex devices typically consisting of three layers: the control layer (like the brain, processing instructions and making decisions), the drive layer (like joints, managing energy to maximize efficiency), and the execution layer (like muscles, converting electrical energy into physical movement). According to CIConsulting, only a limited number of electric drive suppliers in China can provide integrated solutions covering all three layers, and the company is among those with such capabilities.

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