According to disclosures made by the Hong Kong Stock Exchange (HKEX) on August 31, Zhejiang Jiazhi Technology Co., Ltd. (hereinafter referred to as "Jiazhi Technology") has submitted a listing application to the Main Board of the HKEX, with CICC serving as its exclusive sponsor.
According to Zhitong Finance, disclosures by the Hong Kong Stock Exchange (HKEX) on August 31 revealed that Zhejiang Jiazhi Technology Co., Ltd. (hereinafter referred to as "Jiazhi Technology") has filed an application for listing on the Main Board of the HKEX, with China International Capital Corporation (CICC) serving as its sole sponsor.
Company Overview
According to the prospectus, Jiazhi Technology is a provider of intelligent mobile robots, dedicated to achieving full-scenario applications of robots across different environments, industries, and tasks. The company provides one-stop solutions to customers through its independently developed and produced core technology platforms, intelligent mobile robots, and integrated software systems. The company also offers intelligent mobile robots and embodied AI robot products (based on predefined specifications and configurations). According to Frost & Sullivan, based on revenue in 2025, the company has become one of the top ten intelligent mobile robot companies globally. In the field of industrial intelligent mobile robots, according to Frost & Sullivan, based on revenue in 2025, the company has become one of the top five domestic companies globally.
According to Frost & Sullivan, the company is one of the few global intelligent mobile robot solution providers capable of independently developing both hardware and software technologies. All of the company's products and solutions are built upon a unified core technology platform. This platform integrates multimodal perception, a self-developed core technology architecture, and a scalable hardware and software stack. It enables reliable operation in complex environments while providing high-precision spatial perception, precise motion control, and large-scale fleet scheduling. This shared technological foundation allows the company to rapidly develop and commercialize a diversified portfolio of intelligent mobile robot products, including standard AMRs, omnidirectional heavy-duty AMRs, fork-lift AMRs, outdoor AMRs, and industry-specific AMRs. The company's core technologies continue to generalize and expand, demonstrating strong adaptability across different robot types and seizing opportunities in the embodied AI robot market. To this end, the company offers a comprehensive suite of products, including embodied robot controllers, mobile manipulation robots, and embodied robot mobile chassis.
The company's robot product portfolio covers: (i) intelligent mobile robots, including standard AMRs (EMMA), omnidirectional heavy-duty AMRs (OMNI), industry-specific AMRs, fork-lift robots (FOLA), and outdoor mobile robots (LUNA); and (ii) embodied AI robot products, including embodied robot controllers (NERA-C), mobile manipulation robots (NERA-A), and embodied robot mobile chassis (NERA-P). Leveraging this diverse heterogeneous product portfolio, the company's robots can be deployed in various sub-scenarios within customer operational processes, while supporting seamless integration and collaborative operation across different application scenarios.
Financial Information
Revenue
For the six months ended June 30, 2023, 2024, 2025, and 2026, the company recorded revenues of approximately RMB 74.95 million, RMB 115 million, RMB 266 million, and RMB 169 million, respectively.
Net loss for the year
For the six months ended June 30, 2023, 2024, 2025, and 2026, the company recorded losses for the year of approximately RMB 114 million, RMB 118 million, RMB 99.73 million, and RMB 63.702 million, respectively.
Gross Profit
For the six months ended June 30, 2023, 2024, 2025, and 2026, the company recorded gross profits of approximately RMB 14.785 million, RMB 27.796 million, RMB 78.773 million, and RMB 49.831 million, respectively.
Industry Overview
From the perspective of application scenarios, industrial applications remain the primary and most stable source of downstream demand for intelligent mobile robots. Typical industrial sectors where intelligent robots are widely deployed include electronics, automotive, new energy, semiconductors, pharmaceuticals, and others.
Driven by advancements in large AI models and the accumulation of diverse datasets, the global embodied AI robot market is experiencing rapid growth. In terms of sales revenue, the global embodied AI robot market reached RMB 9.9 billion in 2025 and is expected to grow to RMB 326.2 billion by 2030, representing a compound annual growth rate (CAGR) of 94.5% from 2026 to 2030. In China, the embodied AI robot market reached RMB 5.9 billion in 2025 and is expected to increase to RMB 105.6 billion by 2030, with a CAGR of 71.7% from 2026 to 2030.
The global intelligent mobile robot market is highly competitive, with the top ten manufacturers accounting for only about 12.0% of the total market share based on 2025 revenue. This fragmentation is mainly due to the highly dispersed downstream application scenarios of intelligent robots, which span various industries and involve specific factory requirements. Based on 2025 revenue, the company ranks among the top ten globally, with an estimated market share of approximately 1.0%. The table below lists information on the top ten manufacturers in the global intelligent mobile robot industry in 2025 (by revenue).
Board of Directors and Senior Management Information
The Company's board of directors will comprise seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors. Directors shall serve a term of three years and are eligible for re-election upon retirement.
Equity Structure
Dr. Xiong, the Chairman of the Board and an executive director of the Company, is entitled to exercise approximately 29.61% of the voting rights of the Company through: (i) 6,133,505 shares held directly by him (equivalent to approximately 9.79% of the voting rights of the Company); and (ii) 12,414,671 shares held by Ningbo Jiachuang and Hangzhou Jiarui (equivalent to approximately 19.82% of the voting rights of the Company), for which Dr. Xiong serves as the general partner respectively. Dr. Xiong, Ningbo Jiachuang, and Hangzhou Jiarui will constitute the single largest shareholder group of the Company following [listing].
Intermediary Team
Sole Sponsor: China International Capital Corporation Hong Kong Securities Limited
Legal Advisors to the Company: As to Hong Kong and United States laws: Corning & Co.; as to PRC laws: Grandall Law Firm (Hangzhou); as to international sanctions laws: Hogan Lovells International LLP (formerly known as Hogan Lovells International LLP).
Reporting Accountant and Independent Auditor: Ernst & Young
Industry Consultant: CIC Consulting Co., Ltd.
Compliance Advisor: Hongbo Capital Co., Ltd.