NewTimeSpace Stars | Five Consecutive Years as Market Leader: Chinese High-Speed Robotics Giant Tianjin Atomrobot Files for Hong Kong IPO

In the wave of industrial automation, a technological fortress long dominated by overseas giants is being breached head-on by a Chinese company. On January 28, 2026, Tianjin Atomrobot Co., Ltd. officially filed its listing application with the Main Board of the HKEX, with Huatai International as the exclusive sponsor. Named after a classic Japanese anime character, this company embodies authentic Chinese industrial ambition. In the parallel robotics segment—widely regarded as the "crown jewel of high difficulty" in the industrial robotics field—it stands not only as the pace-setter among domestic brands but also achieved a landmark overtaking of global giants including ABB and Fanuc in 2023. Atomrobot's filing marks not just the transition of a "hidden champion" into the capital markets spotlight, but also poses a profound question to the market: After achieving technological parity and market share superiority over imported products, can domestic high-end equipment truly cross the final threshold from technological leadership to sustainable, stable profitability?

Absolute Dominance in a Niche Segment: From Technology Breakthrough to Market Leadership

Delta robots, owing to their complex structure and extreme demands on motion control algorithms, have long been viewed as the pinnacle of industrial robotics technology. They are primarily deployed in food, pharmaceuticals, consumer goods, and new energy industries for ultra-high-speed sorting and packaging applications requiring millisecond-level cycle times and micron-level precision. Historically, this precise yet niche market was an exclusive domain of foreign brands such as Switzerland's ABB and Germany's Bosch.

The rise of Atomrobot has fundamentally rewritten this paradigm. According to the Frost & Sullivan report cited in its prospectus, the company has ranked first in shipment volume among domestic brands in China's parallel robot market for five consecutive years since 2020. More significantly, starting from 2023, it ascended to the top position in the all-brand ranking within the domestic parallel robot market, successfully surpassing all foreign competitors. By 2024, Atomrobot commanded approximately 12.3% market share in China's parallel robot market, ranking first domestically and second globally. This "overtaking" was achieved not through low-price strategies but through solid technological fundamentals. The company's products deliver core performance metrics of "micron-level precision and millisecond-level cycle times," and it has established a fully self-developed system spanning design theory, underlying algorithms, and core components, achieving 100% autonomous control over key technologies.

The company's leadership rests on a profound understanding of China's manufacturing transformation needs. As industries such as new energy and consumer goods shift from extensive capacity expansion to refined operations, demand for "efficiency-hub equipment" on production lines has exploded. Atomrobot's delta robots represent the optimal solution for high-speed, high-frequency, highly repetitive production scenarios. Currently, the company not only holds the top market share in traditional strongholds including food and beverage, consumer goods, and pharmaceuticals, but has also become one of the largest delta robot suppliers to China's new energy industry. This strategy—entering through specific vertical scenarios and gradually building product portfolios and industry moats—has allowed the company to establish a firm foothold in the high-speed robotics track, a sector characterized by modest scale but high growth certainty and substantial barriers to entry.

Financial Perspective: Profitability Inflection Point Emerges, but Commercialization Road Remains Long

Despite its commanding market position, Atomrobot's financial data reveal a more complex and authentic picture of domestic high-end equipment growth. The prospectus shows the company recorded net losses of approximately RMB 39.25 million and RMB 47.07 million in 2023 and 2024, respectively. Behind these losses lies the common dilemma facing industrial robotics as a highly engineered product category: even with self-developed core components, substantial R&D investments, system integration costs, and intense market competition continue to erode profit margins.

The turning point emerged in the first nine months of 2025. According to the prospectus, the company achieved revenue of approximately RMB 157 million during this period, representing a year-on-year surge of 72.2%. More critically, the company recorded net profit of approximately RMB 938,000, compared to a loss of approximately RMB 26.126 million in the same period of the previous year. Under non-IFRS measures, adjusted net profit reached RMB 3.602 million. The company has defined this as a "key milestone on the path to sustainable profitability."

The drivers of this profitability inflection are multifaceted. First, rapid revenue growth effectively diluted fixed costs. Second, the company's gross margin demonstrated significant improvement, rising from approximately 17% in 2023 to nearly 29% in the first nine months of 2025. This was attributable to increased sales contribution from high-value-added products and the manifestation of scale effects. Additionally, overseas markets have emerged as a new growth engine. In the first nine months of 2025, revenue from overseas customers reached RMB 12.3 million, skyrocketing 435.6% year-on-year, with operations now covering over 30 countries and regions worldwide.

However, quarterly profits of less than RMB 1 million represent merely the starting point of a long commercialization journey for a company about to face public market scrutiny. The Hong Kong market's valuation logic for manufacturing companies places particular emphasis on stable cash flow and replicable profitability. Whether Atomrobot can translate its current technological advantages and market position into sustained, healthy financial returns will be the core issue it must prove to investors post-listing.

Strategic Depth: From "Delta-Centric" to "Embodied Intelligence" Future Narrative

Facing profitability challenges and growth demands, Atomrobot has clearly outlined its "product spectrum tree" strategy in the prospectus. The company's technological foundation and "main trunk" comprise its market-validated delta robots. Based on "native innovation" capabilities accumulated in high-speed, high-precision motion control, the company has successfully extended its technology to two "growth branches": high-speed SCARA robots and heavy-duty collaborative robots. This "technological homology, category synergy" strategy aims to meet industrial customers' evolving needs from purchasing single machines to seeking complete line automation solutions.

The most imaginative strategic deployment emerged in 2025—the company launched its "embodied intelligence robot" product line. Though current business contribution remains minimal, this move extends the company's technology narrative from industrial robotic arms to the more broadly applicable humanoid robotics domain. Against the industry backdrop where global tech giants such as Tesla are aggressively pushing humanoid robot (Optimus) mass production, Atomrobot's early positioning aims not only to capture future technological high ground but also to demonstrate to capital markets its technological extensibility and long-term growth potential. According to Frost & Sullivan forecasts, the global collaborative robot market will expand at a compound annual growth rate of 30.2% between 2024 and 2029, providing vast potential market space for the company's strategic expansion.

Through this Hong Kong listing, Atomrobot plans to allocate proceeds toward sustained R&D, construction of a multi-functional headquarters to enhance production capacity, overseas business expansion, and working capital replenishment. This clearly indicates that as the industry shifts from an "expansion-first" to an "efficiency-first, cash-flow-first" cycle, the company is leveraging capital market strength to fortify its technological moat, expand operational scale, and cross the profitability threshold.

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