HK Stock Connect Insight | GALAXIS TECH (02729.HK): Down About 49.8% Since Stock Connect Inclusion;H1 Revenue Grows 45.1% YoY

NewTimeSpace News: On November 2, 2026, GALAXIS TECH closed at HKD 17.00, down 4.49% for the day, with turnover of HKD 28.7596 million.

According to public information, GALAXIS TECH listed on the Main Board of the Stock Exchange on March 24, 2026 at an offer price of HKD 16.66 per share, with a global offering of 36.798 million H shares and net proceeds of approximately HKD 556 million. Its Hong Kong public offering was oversubscribed 2,153.26 times.

At present, since its listing on March 24, 2026, the company's share price has ranged from a high of HKD 47.00 to a low of HKD 15.56. As of November 2, 2026, the share price closed at HKD 17.00, approximately 2.0% above the offer price of HKD 16.66. Since its Stock Connect inclusion, the share price has fallen from HKD 33.86 at the close on September 7, 2026 to HKD 17.00, a cumulative decline of approximately 49.8%.

It is understood that Hang Seng Indexes Company published the results of its quarterly review of the Hang Seng Index series for the period ended June 30, 2026 on August 21, 2026, under which GALAXIS TECH was included in the Hang Seng Composite Index, with the constituent changes effective from September 7, 2026; the Shanghai and Shenzhen stock exchanges subsequently adjusted their respective lists of Stock Connect eligible securities, and the company's H shares have been included in the list of Stock Connect eligible securities since September 7, 2026.

Founded in 2014, GALAXIS TECH is a provider of integrated intelligent in-warehouse logistics robots and listed on the Stock Exchange in March 2026. The company operates three product lines, namely multi-directional shuttle robots (MSR), autonomous mobile robots (AMR) and conveying and sorting robots (CSR), supported by its self-developed WMS, WCS and RCS software systems, forming a full-stack "hardware plus software" technology system.

On the financial front, the company's revenue for the first half of 2026 was RMB 505 million, up 45.1% year on year, mainly due to an increase in deliveries of large multi-functional integrated systems and AMR deployment projects in mainland China; gross margin was 17.5%, down 0.3 percentage point year on year.

A research report by Sealand Securities noted that the company is committed to providing integrated "hardware plus software plus artificial intelligence" solutions for warehousing and in-warehouse logistics, and is expected to benefit from the intelligent upgrade of manufacturing, rising demand for warehousing automation in e-commerce and retail, and growth in demand for intelligent logistics equipment arising from Chinese companies going global.