On March 9, Nanjing Estun Automation Co., Ltd. was officially listed on the Main Board of the Hong Kong Stock Exchange (stock code: 02715.HK), becoming the first domestic industrial robot enterprise to achieve dual-listing on the A-share and H-share markets, marking a key step for the domestic robot industry towards globalization. The offering price for this listing was set at HK$15.36 per share, with a global offering of 96.78 million H-shares, raising a total of approximately HK$1.486 billion.
As a leading domestic industrial robot enterprise, Estun has outstanding strength, maintaining the first place in domestic shipments of local industrial robots for many consecutive years, and even historically surpassing the international “Big Four” to top the domestic market in the first half of 2025. Financial data shows that the company’s revenue in the first three quarters of 2025 reached 3.804 billion yuan, and it is expected to achieve a profit of 35 million yuan to 50 million yuan for the whole year, turning around losses and showing strong performance recovery capabilities.
During the listing period, Estun received positive recognition from the market. The public offering in Hong Kong was oversubscribed by about 19.67 times, and it also introduced 7 cornerstone investors including Harvest Fund and Hengtong Optic-Electric Co., Ltd., with a total subscription of about HK$523 million. It is worth noting that the company is the only enterprise among the A-share to H-share issuance projects in the same period that has set up a greenshoe mechanism to protect the stock price, demonstrating confidence in its own value.
The use of raised funds is clear and definite: 25% will be used to expand global production capacity, 25% for strategic investment and mergers and acquisitions in the upstream and downstream of the industrial chain, 20% for R&D, and the remaining funds for improving global service capabilities, repaying loans and supplementing operating capital. With the “15th Five-Year Plan” listing robots as a strategic emerging industry, Estun, relying on its advantages of full industrial chain layout, is expected to use the Hong Kong stock financing channel to deepen its global layout and promote China’s intelligent manufacturing to the world.
