HK Recently Listed Stocks Watch | SEER TECH (06106.HK) sets up wholly-owned subsidiary Jietiwuxian Technology; 4,549,400 cornerstone H shares to unlock on December 24

NewTimeSpace News: As of 14:27 on October 15, 2026, SEER TECH (06106.HK) traded at HKD 49.12, down 7.32%.

On the news front, according to Qichacha, Shanghai Jietiwuxian Technology Co., Ltd. was recently established, with a business scope including AI industry application system integration services; AI basic resources and technology platforms; and AI public service platform technical consulting services, among others. The company is wholly owned by SEER TECH (06106.HK).

On the lock-up arrangement, according to the Allotment Results Announcement previously disclosed by the Company, the eight cornerstone investors hold an aggregate of 4,549,400 H shares, and the final day of the relevant lock-up undertakings is December 24, 2026, with the shares becoming tradable from December 25, 2026. The cornerstone investors include HHLRA (Hillhouse), Yuanbao Family Office, 3W Fund, GF Fund Management, Ruihua Investment and others.

According to publicly available information, SEER TECH (06106.HK) listed on the Main Board of The Stock Exchange of Hong Kong Limited on June 24, 2026 at an offer price of HKD 101.60, under a global offering of 10,497,300 H shares, comprising 2,099,500 H shares under the Hong Kong public offering (after reallocation), which was 5,934.56 times subscribed and triggered the clawback mechanism, and 8,397,800 H shares under the international offering, which was 21.29 times subscribed; gross proceeds amounted to approximately HKD 1.067 billion and net proceeds to approximately HKD 995 million. The over-allotment option was not exercised and lapsed on July 18, 2026; the number of issued shares at the time of listing was 110,497,300, with a board lot of 50 shares. The Company's H shares have been included in the Stock Connect (Southbound) stock lists under Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect since September 7, 2026.

In terms of performance, the Company published its first post-listing interim results on August 17, 2026. In the first half of 2026, it recorded revenue of RMB 264 million (the same below), up 67.5% year on year; gross margin was 46.6%, up 1.2 percentage points from 45.4% in the prior-year period. Loss attributable to equity shareholders of the Company for the period was RMB 37.9 million, narrowing 25.1% from RMB 50.6 million a year earlier; adjusted net loss (a non-IFRS measure) was RMB 11 million, narrowing 50.1% year on year; basic loss per share was RMB 0.38. Overseas revenue in the first half reached RMB 65.8 million, up 197.5% year on year, accounting for about 25% of total revenue, with the overseas gross margin maintained at about 67%. From 2023 to 2025, the Company's revenue was RMB 249 million, RMB 339 million and RMB 442 million respectively, with losses for the year of RMB 47.7 million, RMB 42.3 million and RMB 47.1 million respectively.

On the institutional view, in its research report "True Embodied AI, True Brain: High Revenue Growth and Improving Operations" published on September 24, 2026, Guotai Haitong Securities assigned the Company an "Overweight" rating with a target price of HKD 92.74, noting that the Company is a leading embodied brain company in China with shipment volumes ranking among the top in the industry, and that data feedback from real usage scenarios drives the continuous evolution of its "brain", giving it a unique positioning and significant first-mover advantages; intelligent robots equipped with the Company's "robot brain" have been deployed tens of thousands of units in aggregate, with real deployments at more than 1,000 factories across over 20 industries including 3C, automotive, new energy and semiconductors, forming a data and technology loop that runs from real-world data accumulation to model optimization and then to product application.