【New Stock IPO】Yifei Technology 6871 oversubscribed by 6,380% with a margin of HKD 2.43 billion; raised HKD 750 million in the offering, industrial robot technology company; entry fee approximately HKD 3,081

Yifei Technology (Listing Number: 06871) Public offering from May 8 to 13. Industrial robot technology company Yifei Technology plans to issue 24.6 million H-shares, with 5% available for public subscription in Hong Kong, at a price of HKD 30.5 per share, raising HKD 750 million. Each lot consists of 100 shares, with an entry fee of HKD 3,080.8. Yifei Technology is expected to list and commence trading on May 18. Guotai Junan International is the sole sponsor.

As of May 8, its public subscription had received HKD 2.43 billion in margin subscriptions, with a total of HKD 37.52 million raised from the public offering, representing an oversubscription of 63.8 times.

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Yifei Technology applies for listing under Chapter 18C of the Listing Rules, with a clawback mechanism. The maximum proportion of the public offering is 20%.

Focusing on industrial robots and providing integrated robot solutions

Yifei Technology specializes in the design, R&D, manufacturing, and commercialization of industrial robots, offering comprehensive robot solutions with a focus on light industrial application scenarios. According to a Frost & Sullivan report, based on 2025 revenue, Yifei Technology ranks as the fourth-largest domestic Chinese company among providers of industrial robots and related robot solutions focused on light industrial scenarios. It is also one of the few Chinese robot companies capable of scaling industrial robot and related robot solution coverage.

The product portfolio includes parallel robots (Bat series), AGV/AMR mobile robots (Camel series), SCARA robots (Python series), wafer handling robots (Lobster series), and six-axis industrial robots (Mantis series), with core proprietary technologies in control and vision systems (Gorilla and Kingkong series).

Revenue accounted for 44.5% last year, with losses increasing 1.1 times

Yifei Technology states that its business is mainly driven by providing scaled integrated robot solutions, which consistently account for the majority of revenue. The main projects involve direct sales of robot solutions to direct customers, focusing on automation in warehousing logistics, material handling, packaging, and assembly. These projects are quite valuable; as of the end of last year, the company maintained stable future revenue channels from projects expected to be completed by 2026.

Last year, Yifei Technology recorded revenue of RMB 390 million, an increase of 44.5% year-on-year, with a net loss of RMB 150 million, up 113.9%.

Yifei Technology has not introduced cornerstone investors.

Use of net proceeds

• 40%: Development of robot technology
• 28%: Development and capacity building or optimization of production lines
• 12%: Expansion of overseas business network
• 10%: Investment in supply chain upstream and downstream
• 10%: Working capital supplementation

Source: Yifei Technology Announcement

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