NewTimeSpace丨Industrial Intelligent Mobile Robot Solution Provider, Standard Robots Makes Another Bid for Hong Kong IPO

Recently, Standard Robots (Wuxi) Co., Ltd. (hereinafter referred to as "Standard Robots") filed a prospectus with the Hong Kong Stock Exchange for a listing on the Main Board, with CITIC Securities and Guotai Junan International as joint sponsors.

New Spacetime Research learned that this application follows the expiration of its previous filing on June 23, 2025.

Image source: Prospectus

**China's Four Major Industrial Intelligent Mobile Robot Solution Providers**

Public information shows Standard Robots, founded in 2016, is a provider of industrial intelligent mobile robot solutions, primarily dedicated to empowering smart factories across various industrial scenarios, while also offering industrial embodied intelligent robot solutions.

According to the prospectus, Standard Robots is a pioneer in China's industrial intelligent robot system engineering field and one of the few enterprises with full-stack technology self-development capabilities. The company independently developed a dedicated operating system for industrial intelligent robots in its early stages and has continuously achieved breakthroughs in core technologies.

The company ranks at the forefront of the industry in multiple key technology areas and is among the first to have released Simultaneous Localization and Mapping (SLAM) technology and pioneered the development of Vision-Language-Action (VLA) models applicable to industrial scenarios. Its technological breakthroughs in positioning, navigation, control, and environmental perception and manipulation have endowed robots with greater intelligence, efficiency, stability, and safety.

Standard Robots provides customers with customizable one-stop solutions, comprising its core robotics technology platform, a multifunctional industrial intelligent robot product series, and the integrated intelligent collaborative system RoboVerse. Currently, the company's solutions have been recognized and adopted by over 400 customers globally, including numerous industry-leading enterprises.

In terms of revenue composition, the company's primary income is derived from sales of integrated robot solutions, followed by sales of single-unit robots and related accessories in domestic and international markets.

According to CSC (China Insights Consultancy), in 2024, Standard Robots ranked among China's four major industrial intelligent mobile robot solution providers with a market share of 3.2% by sales volume. In 2024, by shipment volume, Standard Robots was one of the largest industrial intelligent mobile robot solution providers globally in several high-tech industries, ranking second in the computer, communication, and consumer electronics products (3C) sector (with a 2.9% market share), second in the automotive sector (4.7% market share), and fifth in the semiconductor sector (1.0% market share).

**Sustained Revenue Growth, Cumulative Loss Exceeds 400 Million Yuan During Reporting Period**

Regarding financial performance, the prospectus shows that Standard Robots' revenue was RMB 96.275 million, RMB 162 million, and RMB 250 million in 2022, 2023, and 2024, respectively. Annual losses were RMB 128 million, RMB 100 million, and RMB 45 million, respectively.

In the first nine months of 2025, Standard Robots' revenue was RMB 188 million, up 19.7% from RMB 157 million in the same period last year. Loss during the period was RMB 163 million, compared to a loss of RMB 57 million in the same period last year. The cumulative loss during the 3.5-year reporting period reached RMB 436 million.

From a revenue structure perspective, robot solutions contributed the vast majority of revenue. In 2024, this segment generated RMB 228 million, accounting for 91% of total revenue. In the first nine months of 2025, it still represented 86.1%.

Geographically, in the first nine months of 2025, Standard Robots' revenue from mainland China was RMB 136 million, accounting for 72.2%, while revenue from other regions was RMB 52.32 million, accounting for 27.8%.

As of September 30, 2025, Standard Robots held cash and cash equivalents of RMB 77.76 million.

**Industry Scale Continues to Grow, Proceeds to Strengthen Robot Product R&D**

Against the backdrop of smart manufacturing system upgrade demand and rapid AGI development, industrial embodied intelligent robots with collaborative arms based on wheeled mobile platforms will become an advanced intelligent form capable of meeting complex and dynamic multi-scenario manufacturing needs.

According to CSC data, the global industrial intelligent mobile robot solutions market grew from RMB 5.8 billion in 2020 to RMB 15.3 billion in 2024, representing a CAGR of 27.2%. It is projected to further grow to RMB 81.4 billion by 2029, with a CAGR of 37.1% between 2025 and 2029.

The global market size of industrial embodied robot solutions soared from RMB 400 million in 2020 to RMB 1.4 billion in 2024, with a CAGR of 39.5%. It is expected to reach RMB 15.2 billion by 2029, with a CAGR of 63.1% between 2025 and 2029.

Pre-IPO, Standard Robots' founders Wang Yongkun and Li Hongxiang are acting in concert, holding 12.80% and 3.80% of shares respectively. Additionally, Wang Yongkun controls the share incentive platform Standard Automation, which holds 14.30% of shares. Through voting rights proxy arrangements, they can collectively control approximately 35.46% of voting rights. Shareholders also include Xiaomi Group, Bohua Capital, Yuanming Investment, Guangyi Investment, Guoke Investment, Hechuang Investment, Qingyan Investment, among others.

The prospectus shows that the funds raised from this Hong Kong listing will be primarily used to strengthen the R&D of core robotics technology platforms, robot products, and the RoboVerse system, and to continuously develop related proprietary robotics technology; to establish and expand domestic and international sales and service systems, enhance robot solution deployment capabilities, while strengthening brand promotion and market influence; to develop new production lines and further improve overall production capacity; and to supplement working capital and other general corporate purposes to support daily operations and sustained business growth.