Hai Robotics Files for IPO in Hong Kong Amid Growing Demand for Industrial Robotics
Hai Robotics, the world's largest manufacturer of case-handling robots, has filed for an IPO in Hong Kong. The company reported a 36% increase in revenue year-on-year for the first nine months of 2025, reaching 1.26 billion yuan, despite ongoing operational losses totaling 589 million yuan. Hai Robotics faces rising liabilities and negative cash flow but aims to benefit from the growing demand for Automated Case-handling Robots (ACR), expected to grow significantly by 2030.
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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.
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