Microintelligence passes HKEX listing hearing: China's first EIIR stock

NewTimeSpace News: On 9 October 2026, Changzhou Microintelligence Co., Ltd. passed the listing hearing of the Hong Kong Stock Exchange, with Orient Securities International as its sole sponsor. The company designs, develops and commercialises embodied intelligent industrial robots (EIIR) and solutions for customers across multiple industries, using self-developed software and hardware systems and systems engineering capabilities to build EIIR products that can autonomously perceive, learn, decide and execute complex tasks, serving sectors such as 3C electronics, automotive manufacturing, new energy, fast-moving consumer goods and semiconductors.

According to the prospectus, the company was the largest EIIR product provider in China by 2025 revenue, with a market share of approximately 20.0%. China Insights Consultancy data showed that embodied intelligent industrial robots accounted for 1.2% of China's industrial AI-enabled equipment industry in 2025, and the share is expected to reach 14.2% by 2030.

During the track record period, revenue grew from RMB 434.0 million in 2023 to RMB 795.5 million in 2025, while revenue from the EIIR product line rose from RMB 114.1 million to RMB 453.3 million, increasing from 26.3% to 57.0% of total revenue, with gross margin up from 47.9% to 53.5%. The company recorded a net loss of RMB 113.8 million in 2023 on strategic upfront investment, including R&D spending of RMB 178.3 million, or 41.1% of revenue, before returning to net profit of RMB 15.7 million in 2024 and RMB 5.1 million in 2025. For the five months ended 31 May 2026, revenue rose 22.6% to RMB 423.8 million and profit reached RMB 22.5 million, with EIIR revenue up 39.7% to RMB 260.2 million.