【New Stock IPO】Yifei Technology 6871 oversubscribed by 2.43 billion, 63.8 times; IPO raises 750 million, industrial robot technology company; entry fee approximately 3,081 yuan

Yifei Technology (Listing Number: 06871) The public offering will be conducted from May 8 to May 13. Industrial robot technology company Yifei Technology plans to issue 24.6 million H shares, with 5% being made available for public subscription in Hong Kong. The offer price is HKD 30.5 per share. It will raise HKD 750 million. Each board lot comprises 100 shares, and the entry fee for one lot is HKD 3,080.8. Yifei Technology is expected to be listed and commence trading on May 18. Agricultural Bank International is the exclusive sponsor.

As of May 8, the public portion recorded HKD 2.43 billion in margin subscription, based on a public offering size of HKD 37.52 million, representing an oversubscription of 63.8 times.

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

Focused on industrial robots and providing integrated robot solutions

Yifei Technology focuses on the design, R&D, manufacturing, and commercialization of industrial robots, and provides integrated robot solutions, deeply developing light-industrial application scenarios. According to a Frost & Sullivan report, based on 2025 revenue, Yifei Technology ranks as the fourth domestic company among providers of industrial robots and related integrated robot solutions focused on light-industrial application scenarios in China. It is also one of the few robot companies in China with large-scale coverage capability for industrial robots and related integrated robot solutions.

Its 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). It also has proprietary core technologies—control and vision systems (Gorilla and Kingkong series).

Revenue down 44.5% last year; losses widen 1.1x

Yifei Technology said that its business is mainly driven by the scalable integrated robot solutions it provides, and such solutions have consistently accounted for most of its revenue. The key projects are robot solutions that are directly sold to direct customers, focusing on automation in warehousing logistics, pick-and-place applications (material handling for loading/unloading), and automation in packaging and assembly. These projects are of substantial value; as of the end of last year, it still retains stable future revenue channels from projects expected to be completed by 2026.

Yifei Technology recorded revenue of RMB 390 million (the same below), up 44.5% year-on-year last year. During the year, it recorded a loss of RMB 150 million, up 113.9%.

Yifei Technology did not introduce cornerstone investors.

Use of Net Proceeds

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

Source: Yifei Technology announcement

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