Article

Hai Robotics has filed for an IPO in Hong Kong, seeking to capitalize on the rising popularity of industrial robotics. The company reported a revenue increase of 36% year-on-year for the first nine months of 2025, totaling 1.26 billion yuan, while incurring a loss of 589 million yuan.

Despite increasing liabilities, which rose from 2.52 billion yuan in 2023 to 3.88 billion yuan by September 2025, Hai Robotics is positioned to benefit from a growing ACR market, projected to expand from 2.6% penetration in 2024 to 22.7% by 2030. Research and development spending has decreased relative to revenue, while gross profit margin improved from 16% in 2023 to 28.9% in 2024.