Sixteen Chinese robotic industrial chain companies raised a total of 20 billion yuan (US$2.8 billion) from listing on domestic stock exchanges in the first half of this year, an increase of 33.33% from 12 firms in the same period last year.
According to a list compiled by GGII, a robot and automation-focused research institute, of the 16 listed firms, six chose to go public on China’s Nasdaq-style STAR market, with another four completing an IPO on the Growth Enterprise Market (GEM).
Another five robotics-related companies opted to seek a listing on the Beijing Stock Exchange, which has been around for less than two years.
The popularity of the Beijing bourse has risen dramatically thanks to a series of regulatory measures aimed at relaxing the scrutiny of IPO bids by smaller and medium-sized enterprises already trading on the National Equities Exchange and Quotations (NEEQ), a non-public equity market.
Compared to these bourses, the main board of China’s A-share market is notoriously difficult to enter, with strict requirements on the revenue and net profit of candidate firms.
Specifically, only firms with a net profit of no less than 150 million yuan as well as a combined revenue of 1 billion yuan or more over the past three years are eligible to be listed on the main board.
Chart originally published by GGII
Only one company made it onto the main board in the first six months of this year, GGII data shows.
Every month a company got listed and began trading on the A-share market, while on a monthly basis, an average of at least two firms went public.
In terms of the financing amount, the biggest IPO was undertaken by AI heavyweight Intellifusion (云天励飞, 688343.SH), which pulled in 3.9 billion yuan.
As a comparison, the smallest float was issued by Sunny Mould (舜宇精工, 831906.BSE), valued at 89 million yuan.
A closer look by category suggests that the majority of the 16 listed firms are involved in the manufacturing of robotic parts.
Machine vision specialists followed closely behind. As investors poured money into the sector amid a frenzy over machine vision, five companies focusing on machine vision technologies were given the greenlight to sell shares.
They include Shuangyuan Technology (双元科技, 688623.SH), Unicomp (日联科技, 688531.SH), Farsoon Technologies (华曙高科, 688433.SH), Rong Cheer (荣旗科技, 301360.SZ), and Skyverse (中科飞测, 688361.SH).
Other firms’ business areas span the manufacturing of sensors, servo motors and motion control, robotic integration, robot-focused cables and springs.
Notably, Greenworks Tools (格力博, 301260.SZ), also among the 16 public companies, is the only engaged in making smart robotic mowers, a consumer-facing product.