Benmo Technology (06731) plans a global offering of 50 million shares, expected to list on September 29.

Benmo Technology (06731) is conducting an IPO from September 21, 2026 to September 24, 2026, proposing a global offering of 50 million H shares, with the Hong Kong public offering accounting for approximately 5.0% and the international offering accounting for approximately 95.0%. The offer price will be HK$21.60 per offer share. The board lot size is 100 shares, and the H shares are expected to commence trading on the Stock Exchange at 9:00 a.m. on September 29, 2026. It is understood that the company is a Siasun Robot&Automation technology company with direct-drive technology as its core capability. The company is principally engaged in the sale of Siasun Robot&Automation power modules in China, followed by the sale of Siasun Robot&Automation. The company operates in the following industries: (i) China's consumer Siasun Robot&Automation power module industry, which belongs to a segment accounting for 26.3% of China's Siasun Robot&Automation power module industry; and (ii) China's wheeled-legged and China's two-wheeled-legged Siasun Robot&Automation industry, which belongs to a segment accounting for less than 1.0% of China's Siasun Robot&Automation industry. Siasun Robot&Automation power modules. According to Frost & Sullivan, based on 2025 revenue, the company (i) ranked eighth in China's consumer Siasun Robot&Automation power module industry with a market share of 2.4%; and (ii) ranked first in China's consumer Siasun Robot&Automation direct-DRIVE module industry (a segment accounting for 3.9% of China's consumer Siasun Robot&Automation power module industry) with a market share of 61.1%. Siasun Robot&Automation. Based on 2025 revenue, the company (i) ranked fourth in China's wheeled-legged Siasun Robot&Automation industry with a market share of 4.7%; and (ii) ranked second in China's two-wheeled-legged Siasun Robot&Automation industry with a market share of 18.6%. D1Siasun Robot&Automation was launched in October 2025 and is the world's first commercially launched fully modular two-wheeled-legged Siasun Robot&Automation. The company is also one of the few companies in the global Siasun Robot&Automation industry capable of achieving swarm control in wheeled-legged Siasun Robot&Automation, where swarm control refers to the ability of multiple Siasun Robot&Automation to operate as a unified whole. Assuming the over-allotment option is not exercised and based on an offer price of HK$21.60 per share, the net proceeds from the global offering will be approximately HK$982.5 million. Of this, approximately 50.0% of the net proceeds will be used to enhance the company's R&D capabilities in key Siasun Robot&Automation technologies to support the company's technology and product development. Approximately 20.0% of the net proceeds will be used to deepen cooperation with industry partners, expand the sales network and further strengthen brand awareness. Approximately 20.0% of the net proceeds will be used to improve the company's production capacity and efficiency to support the company's rapid business growth. Approximately 10.0% of the net proceeds will be used for working capital and general corporate purposes. In addition, the company has entered into cornerstone investment agreements with cornerstone investors, pursuant to which the cornerstone investors have agreed, subject to certain conditions, to subscribe for or procure their designated entities to subscribe for such number of offer shares at the offer price for an aggregate amount of approximately HK$472 million. The cornerstone investors include: Hong Kong Kechuang Linghang No. 1 Investment Limited, JSC International Investment Fund SPC (for and on behalf of JSC International Investment Fund SPC Shenghai SP).