New Stock News | Youdi Siasun Robot & Automation (03231) IPO Ends with Margin Subscription Amount Exceeding HK$4.2 Billion, Oversubscribed by 94.79 Times

Youdi Siasun Robot & Automation (03231) is conducting an initial public offering (IPO) from August 31 to September 4, 2026. As of now, the subscription period has ended. Market data shows that the Group has raised HKD 4.214 billion in margin subscription, which translates to an oversubscription of 94.79 times based on a public fundraising amount of HKD 0.4399 billion. According to the issuance plan, the company intends to globally offer 45 million shares, with 5% allocated to the Hong Kong offer and 95% to the international offer. The offering price will be set at HKD 14.45-19.55 per share, with a minimum lot size of 200 shares. The shares are expected to commence trading on the Hong Kong Stock Exchange on September 9, 2026. The prospectus indicates that Youdi Siasun Robot & Automation mainly generates revenue by selling Siasun Robot & Automation products and modules, providing AI vision model solutions for industry applications, and through robot-as-a-service (RaaS) and leasing arrangements to commercialize its technology. The companys main product lines include: the You Xiaomei series for indoor delivery and guest guidance, the You Xiaodi series for high-capacity indoor delivery, the You Xiaoge series for on-demand delivery in closed environments, the You Xiaogu series for indoor and outdoor cleaning, and the You Xiaofeng series for unmanned retail applications. In terms of finances, the company achieved total revenues of approximately RMB 244 million, 267 million, 318 million, and 76.51 million for the fiscal years of 2023, 2024, 2025, and the first three months of 2026, respectively. During the same period, the losses recorded were approximately RMB 251 million, 151 million, 111 million, and 31.216 million. The company has established cornerstone investment agreements, with cornerstone investors agreeing to subscribe for a total of 1,389,200 offer shares at the H share offering price of HKD 17.00 per share (i.e., the median of the indicative price range) upon meeting certain conditions. The company's cornerstone investors include SensePower Management Limited (a wholly owned subsidiary of SENSETIME-W (00020)) and CYGG Holding Limited (a wholly owned subsidiary of 58 Group). The net proceeds from the global offering are intended to be used for the following purposes: (1) approximately 48.5% will be used to further enhance the companys R&D capabilities, expand the R&D team, and strengthen the core technologies for indoor and outdoor delivery and cleaning of Siasun Robot & Automation products; (2) approximately 30.0% will be used for business expansion and strategic acquisitions; (3) approximately 7.0% will be used to enhance the companys sales and marketing capabilities; (4) approximately 4.5% will be used to repay part of the bank loans; and (5) approximately 10.0% will be used for working capital and other general corporate purposes.