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China’s Mech-Mind Robotics Set to Open Order Book for US$300M IPO
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- DeepHorus
China's Mech-Mind Robotics Technologies is set to open its order book for a Hong Kong initial public offering that could raise approximately $300 million. The industrial AI and 3D vision company is targeting a September 1 trading debut on the Hong Kong Stock Exchange. This move marks a significant expansion from its previous fundraising target of about $200 million mentioned a year ago.
Founded in 2016 and based in the Xiongan New Area, Mech-Mind develops advanced 3D cameras and AI software that enable robots to perceive and navigate their environments. The company has secured notable backing from tech giants Meituan, Intel, and HSG, completing pre-IPO financing in 2025 at a valuation of 6.3 billion yuan. Its technology serves major industrial clients including CATL, BYD, Midea, and Foxconn.
The IPO proceeds are earmarked for several strategic initiatives. Mech-Mind plans to invest in developing more advanced AI models, improving its hardware products, and expanding its research infrastructure. The funds will also support the company's push into new applications and further global market penetration.
Currently, Mech-Mind operates in nearly 50 countries across continents, with overseas customers contributing roughly half of its revenue. The company reported a strong overseas gross margin of 79% in 2025, significantly higher than its 50% margin in the domestic Chinese market. This highlights its competitive advantage in international markets.
Financially, Mech-Mind remains in a growth phase with ongoing losses. The company reported an adjusted net loss of 109 million yuan (approximately $16 million) for 2025, an improvement from a loss of 214 million yuan in 2024. However, it expects losses to continue in the current year due to sustained heavy spending on research, development, and sales efforts.
The company has cleared the final regulatory hurdle by passing its listing hearing with Hong Kong Exchanges and Clearing. China's securities regulator has also approved the issuance of up to 27.48 million overseas ordinary shares. Investor orders are expected to open shortly, paving the way for the targeted September listing.
The successful execution of this IPO would provide Mech-Mind with substantial capital to scale its operations. It would also signal continued investor confidence in China's industrial AI and robotics sector amid global competition. The listing is positioned to strengthen the company's global footprint and accelerate its technological development roadmap.
