Foshan's "First Robot Stock" Huayan Robotics listed on HKEX, surpassing HKD 10 billion in market capitalization intraday

Nanfang Finance reporter Wu Rong, Foshan report

On March 30, Guangdong Hualian Robotics Co., Ltd. (hereinafter referred to as “Hualian Robotics”) officially listed on the Hong Kong Stock Exchange. The stock code is 1021.HK, and Foshan welcomed its “first robotics stock.” After the stock opened on its first trading day, the share price rose sharply. By the close of trading at noon, the company’s share price was HK$19.66, up 15.65% from the issue price. Its total market capitalization surpassed HK$10.687 billion, making it another robotics-sector target receiving strong attention in the Hong Kong stock market.

This is also Foshan’s first listed company of the year, and Shunde District’s 45th listed company.

Hualian Robotics was established in 2017. In March 2025, it settled in Beijiao, Shunde, Foshan. The company is a national high-tech enterprise and a national-level “little giant” enterprise specializing in niche, specialized, differentiated, and innovative products. The company focuses on the research, development, and manufacturing of collaborative robots. It has achieved independent R&D in core areas such as servo systems and motion control, including two major product lines: the E Series (for industrial manufacturing, consumer electronics, and medical and health) and the S Series (for the automotive and logistics industries). Hualian’s key technologies and outstanding performance in collaborative robots can be quickly transferred to the humanoid robotics field, and it has already been recognized by multiple leading humanoid robot companies, providing joint modules for them.

Worth noting is that, based on 2024 revenue, Hualian Robotics has become China’s second-largest and the world’s top-five collaborative robot manufacturer, and it is also the fastest-growing company in revenue growth among the world’s top five collaborative robot companies. In the same period, the company’s overseas revenue accounted for 50.2%. Measured by overseas revenue, it is China’s largest collaborative robot exporter.

On performance, Hualian Robotics has demonstrated strong growth momentum. From 2022 to 2024, the company’s total revenue surged from RMB 109 million to RMB 310 million, with a compound annual growth rate of 68.4%, and in 2024 it achieved net profit of RMB 17.87 million, with profitability continuing to improve. Gross margin jumped from 13.7% in 2022 to 34.3% in 2024, and further increased to 37.6% in the first nine months of 2025.

For this HK stock IPO, Hualian Robotics plans a global offering of 80.785 million shares. The offer price has been set at HK$17.00 per share. The company expects to raise about HK$1.373 billion in total proceeds from the global offering. The subscription period drew significant attention from the market. The public offering portion recorded 50.5938 times oversubscription in total. Regarding use of proceeds: about 55% will be used to enhance R&D capabilities, about 20% for overseas business development, about 15% for upgrading and expanding production capacity, and about 10% for working capital and general corporate purposes.

Hualian Robotics’ successful listing on the Hong Kong stock market is both a reflection of the company’s own strength and an inevitable outcome of Shunde District Party Committee and the district government’s long-term efforts in developing the capital market and nurturing the ground for listings. Shunde has always upheld the philosophy that “listing is the best way to transform and upgrade; listing is the best way to attract investment,” and has pushed enterprises to embrace the capital market.

As of now, Shunde has a cumulative total of 45 domestically and overseas listed companies, accounting for 53% of Foshan’s total number. There are 61 companies listed on the National Equities Exchange and Quotations (NEEQ) in total, 74 listed reserve companies recognized by the district government, and 412 companies that have completed the shareholding restructuring (share reform). This has formed a tiered pattern of “cultivating a batch, carrying out share reform for a batch, providing counseling for a batch, filing applications for a batch, and getting a batch listed.”

A relevant负责人 from the Shunde District Science and Technology Bureau said that at present, Shunde is using the Yunlu Wetland as an ecological foundation, and plans and builds at high standards an 8.8-square-kilometer Yunlu Listing Town, creating a humanistic and economic demonstration area featuring the integration of “primary living, production, and ecology.” The district is accelerating the placement of physical space and functional supporting facilities to attract listed companies, companies preparing to go public, and venture capital and investment institutions to cluster there. It also fully leverages the bridgehead role of the Hong Kong Shunde Sci-Tech Innovation Liaison Office (Talent Service Station), deepening strategic cooperation with the Hong Kong Exchanges and Clearing Limited (HKEX), focusing on “bringing in projects, gathering talent, and holding events.” It carries out cross-border roadshows, capital matchmaking, and talent selection on a regular basis, accelerating the settlement and growth of a batch of technology projects, sci-tech innovation teams, and industrial activities with backgrounds in Hong Kong, Macao, and/or Taiwan in Yunlu Listing Town, so they can take root, bloom, and deliver results.

In strengthening tiered-team support, Shunde continues to make efforts through special task teams and precise services. One company, one policy is applied to solve problems, and “the eight provisions of Yunlu Listing Town” are implemented. Using the “six ones” element package to empower the growth of a new force of companies aiming for listing, Shunde is cultivating fertile ground for their development. At the same time, it actively leverages the coordinated effect between the government-guided funds and the M&A alliance, encourages the use of new policies for M&A loans, and promotes the joint formation of M&A funds by state-owned capital, funds, and listed companies. With the strength of capital, Shunde boosts industrial chain integration and value re-creation at a higher level, injecting strong, continuous momentum into “Shunde Intelligent Manufacturing.”

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