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Leidi Network, Lei Jianping, March 20
Guangdong Huayan Robotics Co., Ltd. (referred to as &#34;Huayan Robotics,&#34; stock code: &#34;1021&#34;) recently passed the listing hearing and is preparing to list on the Hong Kong Stock Exchange on March 30, 2025.
Huayan Robotics today launched its IPO, planning to globally offer 80.785 million shares at an issue price of HKD 17, raising a total of HKD 1.373 billion.
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The cornerstone investors introduced by Huayan Robotics include: HHLR Advisors, Ltd. (&#34;HHLRA,&#34; a company registered in the Cayman Islands under Hillhouse Capital), GF Fund Management Co., Ltd., Morgan Stanley &amp; Co. International plc (&#34;MSIP,&#34; with the ultimate parent company and holding entity being Morgan Stanley), and Vertex's affiliated fund VVC Technology Fund Ltd. (&#34;VVC Technology&#34;), among others, with cornerstone investors collectively subscribing for USD 98.4 million.
Huayan Robotics expects revenue of CNY 387 million in 2025, with a gross margin of 37.6% and an adjusted net profit of CNY 25.7 million.
Revenue triples in 3 years, successfully turning a profit
Huayan Robotics is a collaborative robotics company engaged in the research, development, production, and sales of collaborative robots and core motion components for industrial applications. In the broader robotics industry, robots are typically divided into three main categories: traditional industrial robots, collaborative robots, and service robots, with collaborative robots forming an independent category suitable for environments that require safe close collaboration with humans.
According to Frost &amp; Sullivan, the global collaborative robot market revenue is expected to reach CNY 7.5 billion in 2024, accounting for approximately 1.7% of the total global robot market revenue of CNY 431.6 billion.
With comprehensive capabilities covering core motion components, collaborative robot hardware, and a hardware-native HRC embodied intelligent control platform, Huayan Robotics' collaborative robots exhibit high stability, high precision, and excellent motion control performance.
The product design of Huayan Robotics further supports customers and system integrators in secondary development and customizes functions based on specific application scenarios. Therefore, Huayan Robotics' collaborative robots are applied in multiple industry fields.
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HuaYan Robotics has developed a comprehensive product portfolio that includes collaborative robots and core motion components. The product range of HuaYan Robotics meets the automation needs of customers in various industries, including 3C electronics, automotive, semiconductor, medical, metal processing, logistics, and industries requiring precision motion components such as humanoid robots.
According to the prospectus, in September 2025, HuaYan Robotics launched two new products: the Elfin High-Speed version and the S60 heavy-load model. The former achieves a maximum joint speed of 370° per second and a 1.5 times acceleration capability, precisely matching the stringent rhythm requirements of production lines in 3C electronics; the latter offers a 60 kg effective load and a 2.2-meter arm span while maintaining low-voltage power supply characteristics, making it particularly suitable for heavy handling and assembly operations in automotive and logistics fields.
The launch of these two products reflects the company's significant layout in two key application directions: high precision and speed, and heavy load, further expanding the breadth and depth of its product matrix.
In addition, in 2025, HuaYan Robotics is developing a high power density, ultra-low vibration, and jitter modular drive motor for humanoid robots. The company's accumulation of core technologies in servo, drive, and motion control for collaborative robots is further extending into the field of precision motion components related to humanoid robots.
The prospectus shows that HuaYan Robotics had revenues of 109 million, 175 million, and 310 million yuan in 2022, 2023, and 2024, respectively, with a three-year revenue growth of three times. Gross profits were 15.01 million, 50.23 million, and 106 million yuan, respectively; profits during this period were -83.37 million, 1.9 million, and 17.87 million yuan, successfully turning losses into profits. HuaYan Robotics' revenue in 2024 increased by 77% compared to 2023.
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In the first nine months of 2025, HuaYan Robotics generated revenue of 281 million yuan, a 36.4% increase compared to 206 million yuan in the same period last year.
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In the first nine months of 2025, HuaYan Robotics earned 208 million yuan from collaborative robots, accounting for 73.9% of total revenue; revenue from core motion components was 72.47 million yuan, accounting for 25.8%.
It is noteworthy that the founding team of the company has over 20 years of experience in core motion components. Based on this, HuaYan Robotics has pioneered a unique business model, becoming the leading domestic collaborative robot manufacturer to achieve mass external sales of core motion components
The core motion components have opened up a second growth curve for the company, distinct from whole machine sales, and have demonstrated the versatility, high reliability, and industry recognition of its underlying core technology to the market.
The collaborative robot market is expected to reach a scale of 35 billion by 2029.
According to Frost &amp; Sullivan, the global collaborative robot market is projected to grow from USD 2.5 billion in 2020 to USD 7.5 billion in 2024, with a compound annual growth rate (CAGR) of 32.0%. It is expected that the global collaborative robot market will reach USD 35 billion by 2029, with a CAGR as high as 37.4%. During the same period, the Chinese market is expected to expand from USD 600 million to USD 2.2 billion, with a CAGR of 38.8%, and is projected to develop to USD 12.4 billion by 2029, with a CAGR of 43.5%. Meanwhile, the industry remains concentrated.
Huayan Robotics' collaborative robots are mainly used in industrial manufacturing sectors such as 3C electronics, automotive, semiconductors, healthcare, metal processing, and logistics, as well as in industries requiring precision motion components like humanoid robots. Its products have gained recognition from numerous equipment manufacturers in industries such as machine tools, welding, palletizing, inspection, spraying, and screw fastening, and have established stable cooperative relationships with leading global equipment manufacturers.
During the track record period, Huayan Robotics primarily sold robotic hardware to customers in mainland China, Europe, the Americas, and other regions in Asia.
Looking ahead, the boundaries of automation demand are extending from fixed industrial production lines to more complex and non-standard scenarios such as commercial services and rehabilitation assistance. This requires robots to possess stronger environmental perception and humanoid operational capabilities, pointing towards the next-generation universal platform represented by &#34;humanoid robots.&#34;
Based on years of technological accumulation in servo drives, motion control, and other fields, Huayan Robotics has developed high power density, low vibration joint modules suitable for humanoid robots. This indicates that the company's technological capabilities are naturally extending from &#34;robotic arms&#34; to &#34;robots,&#34; and its core component business not only serves the current market but also aims at the vast ecosystem of embodied intelligence in the future, expected to become an important link connecting the two stages of industrial automation and general robotics.
According to the prospectus, approximately 55% of the net proceeds from the offering will be used to enhance the company's R&amp;D capabilities over the next five years, about 20% will be used for overseas business development over the next five years, approximately 15% will be used to upgrade and expand production capacity over the next five years, and about 10% will be used for working capital and general corporate purposes.
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Huayan Robotics Co., Ltd. (stock code: 1021) has passed the listing hearing and plans to be listed on the Hong Kong Stock Exchange on March 30, 2025, with a global offering of 80.785 million shares at an issue price of HKD 17, raising a total of HKD 1.373 billion. Cornerstone investors include Hillhouse Capital, GF Fund, Morgan Stanley, among others, with a total subscription of USD 98.4 million. Revenue is expected to be RMB 387 million in 2025, with a gross margin of 37.6%. Huayan Robotics focuses on the research, development, production, and sales of collaborative robots and core motion components, with a broad market outlook

Collaborative robot company Huayan files for IPO: Founding team has over 20 years of industry experience, internationalization process accelerates