HK Stock Connect Insight | LDROBOT (01236.HK) Down About 33% Since Stock Connect Inclusion, Still About 19% Below Offer Price of HKD 26.36

NewTimeSpace News: On October 15, 2026, LDROBOT closed at HKD 21.40, down 6.96% for the day, with turnover of HKD 5.06 million.

According to public information, LDROBOT listed on the Main Board of the Hong Kong Stock Exchange on May 11, 2026 at an offer price of HKD 26.36, with a global offering of approximately 33.3334 million H shares and net proceeds of approximately HKD 807 million. The Hong Kong public offering was 6,707.66 times oversubscribed, while the international offering was 9.54 times oversubscribed.

At present, since its listing on May 11, 2026, the company's share price has reached a high of HKD 66.00 and a low of HKD 21.08. As of October 15, 2026, the share price closed at HKD 21.40, about 18.8% lower than the offer price of HKD 26.36; since its inclusion in Stock Connect, the share price has fallen from HKD 32.00 at the close on September 7, 2026 to HKD 21.40, down about 33.1% in total.

It is understood that Hang Seng Indexes Company announced on August 21, 2026 the results of its quarterly review of the Hang Seng Index series, under which the H shares of LDROBOT were included as a constituent of the Hang Seng Composite Index, effective from September 7, 2026; the Shanghai and Shenzhen Stock Exchanges subsequently adjusted the list of eligible securities under Stock Connect accordingly, and the company was included in Stock Connect with effect from September 7, 2026.

Founded in 2017, LDROBOT is an intelligent robotics company built around visual perception technology, with products covering dToF LiDAR, triangulation LiDAR and other sensors and algorithm modules, and extending downstream to complete smart robotic lawn mowers under its own brand ANTHBOT.

On the financial front, the company's revenue has maintained rapid growth: revenue was approximately RMB 234 million, RMB 277 million and RMB 467 million in 2022, 2023 and 2024 respectively; revenue for the first half of 2026 was RMB 523 million, up 35.2% year on year, with gross margin rising from 25.4% in the same period last year to 28.8%. By business segment, revenue from smart robotic lawn mowers grew 159.1% year on year, while overseas revenue grew 225.5% year on year.

A BOCOM INTL research report noted that LDROBOT has built a physical AI perception foundation based on LiDAR, SLAM/VSLAM and AI scene recognition, that its visual perception business forms the revenue and technology base, and that smart robotic lawn mowers extend its underlying perception capabilities into higher-margin complete machines, which is expected to drive upgrades in its revenue mix and improvements in profitability.