China’s Shenzhen Stock Exchange resumed the screening of the IPO bid by Hikrobot (海康机器人), the robot affiliate of AI titan Hikvision (海康威视, 002415.SZ) and a leading domestic AMR builder, after the firm updated its prospectus on July 24.
It is customary for prospectuses submitted by Chinese firms to be subject to regulatory scrutiny. If the exchange authorities raise a red flag or request further disclosure of facts or numbers, the IPO process will be put on hold.
Hikrobot filed early this year for a listing on the Shenzhen exchange, one of China’s three bourses, planning to raise 6 billion yuan (US$841 million).
According to the prospectus, Hikrobot is a major supplier of AMRs and machine vision solutions. it specializes in industrial IoT, smart logistics and intelligent manufacturing.
A detailed breakdown of Hikrobot’s financials can be obtained in a previous cnrobopedia report.
In the machine vision business, Hikrobot now consists of three hardware product lines, including 2D vision, smart ID and 3D vision. It also has crafted a machine vision ecosystem featuring its Vision Master algorithm development platform at its core.
Hikrobot’s AMR robots extend across a long product line, comprising four types of mobile robots, namely, latent robot, heavy-load robot, forklift and bin-to-person robot.
Besides, it matches these hardware devices with two dispatch and smart warehouse systems RCS and iWMS. These robots are mainly deployed to automotive, new energy, 3C, pharmaceutical, healthcare, e-commerce, retail and other market segments.
With these devices and software in place, downstream users are expected to lower logistics costs as well as enhance production efficiency and management sophistication.
Since its inception, Hikrobot has provided a suite of products to clients in 3C, new energy, automotive, pharmaceutical, healthcare, semiconductor, logistics industries, in a bid to improve flexible manufacturing and product quality, its prospectus says.