HK Recently Listed Stocks Insight | LAIFUAL（03952.HK）：1H Revenue Up 80.1% YoY, 5.04 Million Cornerstone Lock-up Shares to Be Unlocked at End-December

NewTimeSpace News: On October 16, 2026, LAIFUAL (03952.HK) traded firmly, quoting HKD 29.26 at the close, up 5.78%.

On the news front, according to previous disclosures, 10 cornerstone investors collectively hold 5.04 million H shares, with the lock-up period ending on December 30, 2026, with a corresponding market value of approximately HKD 431 million based on the offer price. The cornerstone lineup includes Alphahill Capital, E Fund Management,Harvest Global Investments Limited and others.

According to public information, LAIFUAL (03952.HK) listed on the Main Board of The Stock Exchange of Hong Kong Limited on June 30, 2026 as a specialist technology company under Chapter 18C at an offer price of HKD 85.50, with a global offering of 13.4419 million H shares; gross proceeds were approximately HKD 1.149 billion and net proceeds approximately HKD 1.073 billion; the Hong Kong public offering was 4,571.99 times subscribed and the international offering 7.89 times subscribed.

In terms of performance, the company disclosed its first interim results after listing in August 2026, posting revenue of RMB 142 million for the first half of 2026, up 80.1% year on year; the adjusted net loss for the period was RMB 4.12 million, narrowed by 63.2% year on year. The announcement said the revenue growth was mainly driven by higher shipment volumes of harmonic reducers.

Soochow Securities noted that the demand ramp-up in humanoid robots is pushing the harmonic reducer industry into a new stage that places equal emphasis on quality and capacity; it estimates that if global humanoid robot sales exceed 500,000 units in 2027, corresponding harmonic demand would exceed 6 million units, and combined with traditional industrial demand would total 8.8 million units, while global effective capacity is expected to be about 7 million units, a level at which a supply gap may emerge in the industry.

Founded in 2013 and headquartered in Shaoxing, Zhejiang, LAIFUAL (03952.HK) is a leading domestic supplier of core components for robotic precision transmission, with products covering harmonic reducers, joint modules, robotic arms and automated workstations.