NewTimeSpace丨ROBOTPHOENIX Files for Hong Kong IPO, Continuing to Target "First Light Industry Omnicategory Robot Stock"

Zhejiang Yifei Intelligent Technology Co., Ltd., also known as ROBOTPHOENIX INTELLIGENT TECHNOLOGY CO., LTD. (hereinafter referred to as "ROBOTPHOENIX"), recently submitted its prospectus to the Hong Kong Stock Exchange, seeking a listing on the Main Board with ABC International as the sole sponsor.

NewTimeSpace Research Institute learned that this is ROBOTPHOENIX's second application following the expiration of its previous filing on June 30, 2025.

Image source: Prospectus

**China's Fifth-largest Robot Solutions Enterprise, Deeply Cultivating Light Industry**

Public information shows that ROBOTPHOENIX, founded in 2012, is an industrial robot enterprise specializing in the design, R&D, manufacturing, and commercialization of industrial robots, providing comprehensive robot solutions with deep cultivation in the light industry sector.

Leveraging self-developed robot bodies, control and vision systems, and manufacturing processes, ROBOTPHOENIX has established a full-coverage technical ecosystem, enabling large-scale intelligent decision-making, environmental perception, precise control, and autonomous mobility.

The prospectus shows that ROBOTPHOENIX has meticulously designed an industrial robot product portfolio for China's light industry application scenarios, mainly covering parallel robots (Bat series), AGV/AMR mobile robots (Camel series), SCARA robots (Python series), wafer handling robots (Lobster series), and six-axis industrial robots (Mantis series), along with self-developed core technology control and vision systems (Gorilla and Kingkong series).

Based on its robot product portfolio, ROBOTPHOENIX also provides intelligent automation system solutions to address specific application scenarios in intelligent manufacturing. The company offers customized solutions with varying degrees of personalization to support a wide range of automation functions, including loading/unloading, sorting, pick-and-place, packaging, vision inspection, assembly, and dispensing systems.

ROBOTPHOENIX's industrial robots and related robot solutions have covered a global customer base in industries including but not limited to consumer electronics, automotive components and new energy, medical health, fast-moving consumer goods, and semiconductors.

According to Frost & Sullivan, by revenue in 2024, ROBOTPHOENIX ranked as the fifth-largest domestic enterprise among Chinese suppliers focused on industrial robots and related robot solutions for the light industry sector, and is also one of the few Chinese robot enterprises with comprehensive large-scale industrial robot and solution coverage capabilities.

**Revenue Continues Growing, Nearly RMB 400 Million Losses During Reporting Period**

ROBOTPHOENIX's performance in recent years has shown revenue growth without profit increases.

The prospectus shows that from 2022 to 2024, ROBOTPHOENIX's revenue grew from RMB 162 million to RMB 268 million, representing a compound annual growth rate of 28.5%. Revenue for the first three quarters of 2025 reached RMB 180 million, a substantial year-over-year increase of 71.5%.

During the reporting period, the company's annual losses were RMB 57.60 million, RMB 111 million, and RMB 71.50 million from 2022 to 2024, respectively. The loss expanded to RMB 126 million in the first three quarters of 2025. The cumulative loss over nearly four years reached RMB 366 million.

In terms of revenue structure, in 2022, 95% of ROBOTPHOENIX's revenue came from robot solutions and 5% from robot bodies. In the first three quarters of 2025, the proportion of robot body revenue increased to 32.6%, with solutions accounting for 67.4%.

Additionally, ROBOTPHOENIX continues to expand its overseas business. Overseas revenue was RMB 25.50 million and RMB 5.80 million in 2024 and the nine months ended September 30, 2025, representing approximately 9.5% and 3.3% of revenue during the respective periods.

As of September 30, 2025, ROBOTPHOENIX held cash and cash equivalents of RMB 79.32 million.

**12 Pre-IPO Financing Rounds Completed, Valuation Approaches RMB 4 Billion**

The Frost & Sullivan report points out that driven by increasing demand for manufacturing process automation, rising labor costs, and technological advancement, China's industrial robot solutions market grew from RMB 94.7 billion in 2020 to RMB 192.9 billion in 2024, with a compound annual growth rate of 19.5%. It is expected to reach RMB 474.5 billion by 2029, with a compound annual growth rate of 19.9% from 2025 to 2029.

By revenue, China's light industry industrial robot solutions market grew from RMB 36.9 billion in 2020 to RMB 71.1 billion in 2024, with a compound annual growth rate of 17.8%. It is expected to reach RMB 171 billion by 2029, with a compound annual growth rate of 19.5% from 2025 to 2029.

NewTimeSpace Research Institute learned that since its establishment, ROBOTPHOENIX has won favor from numerous investment institutions including Ivy Capital, Primavera Capital, Guoke Yingfeng, and Qisheng Capital.

The prospectus shows that ROBOTPHOENIX completed 12 financing rounds before its IPO, raising a total of approximately RMB 634 million. In the final financing round in May 2025, ROBOTPHOENIX's valuation reached RMB 3.604 billion.

In terms of shareholding structure, Dr. Zhang Sai, founder and chairman of ROBOTPHOENIX, directly holds 11.17% of shares and, as GP, controls three holding platforms, collectively exercisable voting rights of 25.07%, making him the single largest shareholder.

ROBOTPHOENIX stated in its prospectus that the IPO proceeds will be used for robot technology development; production line development and capacity construction; overseas business network development; upstream and downstream supply chain investments; and working capital supplementation.

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