HONG KONG, Jan 23, 2026–IPLUSMOBOT Technology, a Zhejiang University-founded industrial intelligent mobile robot enterprise, officially filed for listing on the Hong Kong Stock Exchange Main Board. Ranking among the global top five and China top three in industrial intelligent mobile robots by order value as of January 16, the company leverages its scarce full-stack self-developed technology, robust revenue growth, and diverse shareholder backing to stand out in a rapidly expanding market.

HKEX Filing: Springboard for Global Robotics Expansion

CICC serves as the sole sponsor for IPLUSMOBOT's IPO filing. According to the prospectus, the company is positioned as a "global general-purpose intelligent mobile robotics specialist committed to enabling full-scenario applications across diverse environments, industries, and tasks," with core business focused on providing one-stop solutions through self-developed technology platforms, intelligent mobile robots, and integrated software systems.

Founded in 2016 by Dr. Xiong Rong, a Zhejiang University professor, together with core team members mostly from the university's Control Science and Engineering robotics lab, the company has evolved from single-product commercialization to a global industry solution provider. Its business spans over 20 countries and regions, including China, Japan, South Korea, Southeast Asia, North America, and Europe, serving global leaders in electronics, automotive, semiconductors, new energy, commercial sectors, and pharmaceuticals.

Market Position: Global Top 5, China Top 3 in Industrial Scenarios

In the fast-growing intelligent mobile robot market, IPLUSMOBOT holds a core competitive position. According to China Insights Consultancy (as of Jan 16, 2026, by order value), the company ranks among the global top 10 intelligent mobile robot companies and sits at global top 5 and China top 3 in the industrial segment, underscoring its core competitiveness in manufacturing scenarios.

Industry prospects remain robust. Global intelligent mobile robot market size grew from RMB 9.8 billion in 2020 to RMB 35.2 billion in 2024 (37.6% CAGR), projected to reach RMB 253.6 billion by 2030 (34.0% CAGR). China outpaced this growth, expanding from RMB 2.2 billion to RMB 10.8 billion (49.8% CAGR) and forecast to hit RMB 88.1 billion by 2030 (36.1% CAGR). The industrial sub-segment climbed from RMB 5.5 billion to RMB 14.4 billion globally (27.6% CAGR), expected to reach RMB 93.2 billion by 2030 (33.7% CAGR).

The market remains fragmented, with the top 10 players commanding only ~17.0% market share in 2024 by order value, as downstream applications are highly dispersed. IPLUSMOBOT's ability to deploy general-purpose solutions in clusters exceeding 2,500 robots—a capability held by few globally—enables rapid adaptation to diverse customer needs.

Financial Performance: 53%+ Revenue Growth, Rising Margins Amid Losses

Revenue reached RMB 74.95 million in 2023, RMB 115 million in 2024 (+53.2% YoY), and RMB 201 million for the first nine months of 2025—1.75x the full-year 2024 figure. The prospectus states the company "believes it can maintain sustainable business growth," though this forward-looking statement carries inherent uncertainties.

Gross margins improved steadily from 19.7% to 24.2% to 28.0% over the three periods, reflecting product optimization and technology premium. However, net losses persisted at RMB 114 million, RMB 118 million, and RMB 72.1 million, respectively. Adjusted net loss narrowed to RMB 78 million, RMB 78 million, and RMB 36 million, suggesting a potential inflection point.

R&D investment remains substantial at RMB 36.2 million (48.3% of revenue), RMB 44.5 million (38.8%), and RMB 36.2 million (18.0%), fueling 182 authorized patents and 14 pending applications in China.

Technology & Products: 4C Architecture Powering Global Reach

IPLUSMOBOT's prospectus highlights its status as "one of the few global enterprises with full-stack self-developed technology." Its unified platform integrates multimodal perception, the 4C core architecture, and scalable software-hardware stacks for complex environment operations.

The 4C architecture comprises: Core components, Control technologies, Cluster management, and Commissioning and application software—exactly as disclosed in the filing.

Under the "4C×M×N" framework, "M" represents its mobile robot matrix covering AMRs, forklift robots, outdoor mobile robots, and embodied intelligence products. "N" denotes full-scenario solutions. Product lines include EMMA (standard AMR), OMNI (omnidirectional heavy-duty AMR), FOLA forklift series, LUNA outdoor robots, and NERA embodied intelligence series. Software systems like CARLY, CLOUDIA, iMCS, and OWL provide one-stop integration.

Shareholder Base: ByteDance and Lenovo Backing with State Capital

Founder Dr. Xiong Rong controls 29.61% of shares, maintaining control. Quzhou High-Quality, a local state-owned entity, holds 7.04%. Lenovo Fund owns 5.80%, while ByteDance's wholly-owned subsidiary Quantum Jump holds 4.93%, providing capital and potential technology synergies in AI and cluster management.

Use of Proceeds: R&D and Expansion Focus

Proceeds will fund: (1) R&D for core components, platforms, and software; (2) Capacity expansion and digital upgrades; (3) Sales/service network expansion, especially overseas; (4) Strategic alliances and M&A along the robotics value chain; and (5) Working capital.

The HKEX listing will provide capital and global visibility to accelerate overseas expansion, potentially elevating IPLUSMOBOT from "global top 5" to industry leader.

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