Atom Robot Aims for Hong Kong IPO with First Profit Expected in 2025’s First Three Quarters

Atomi Robot is making a strong push to go public on the Hong Kong Stock Exchange, with plans to achieve its first profitable quarter by the third quarter of 2025. As the new year begins in 2026, numerous industrial robot companies are submitting their applications to list on the Hong Kong Stock Exchange, including Standex, Yifei Intelligent, and AISTON. Recently, Tianjin Atomi Robot Co., Ltd., recognized as a “hidden champion” in the domestic high-speed parallel robot sector, officially submitted its listing application, aiming to leverage the Chapter 18C (Specialized Technology Companies) regulations to list on the main board of the Hong Kong Stock Exchange.

Founded thirteen years ago, Atomi Robot is a technology-driven enterprise that has maintained the highest market share for domestic independent parallel robots for five consecutive years, starting from 2020. In 2023, it surpassed foreign brands in market presence. Notably, in the first three quarters of 2025, Atomi Robot achieved its first reported profit. However, the sustainability of this profit, significant losses from emerging products, and ongoing cash flow challenges pose significant tests on its path to entering the capital market.

Industry Overview

Atomi Robot, established in 2013, focuses on industrial scenarios that demand extreme speed, precision, and reliability. The company’s product lineup centers on parallel robots, expanding into two growth branches: high-speed SCARA robots and heavy-duty collaborative robots. In 2025, it also ventured into the field of embodied intelligent robots. To date, Atomi Robot has launched over 40 specifications across five series of parallel robots, 28 specifications across two series of high-speed SCARA robots, ten specifications across four series of heavy-duty collaborative robots, and two generations of embodied intelligent robots.

Parallel robots operate using multiple independent motion chains that drive a common end effector to perform tasks. Their most notable features include high structural stiffness, strong load capacity, and high motion accuracy, making them particularly adept at executing high-frequency tasks such as grabbing, sorting, and packaging in food, pharmaceutical, and daily chemical production lines.

According to a report by Frost & Sullivan, Atomi Robot has maintained the highest market share for domestic independent parallel robots for five consecutive years since 2020. Additionally, beginning in 2023, it successfully surpassed all foreign brands, ranking first in overall brand market share for two consecutive years. In 2024, Atomi Robot captured a 12.3% share of the domestic market by shipment volume, placing it second in the global parallel robot market with a 4.8% share, trailing only behind Swiss giant ABB at 15.2%. In its core sectors—food and beverage, daily chemicals, and pharmaceuticals—Atomi Robot holds the top domestic market share. Benefiting from explosive growth in the new energy sector’s automation demand, Atomi Robot has become the largest supplier of parallel robots in this industry.

Financial Performance

Financially, Atomi Robot has seen rapid revenue growth in recent years, although it faced challenges on its path to profitability. In 2023 and 2024, the company’s annual revenues were 93.49 million yuan and 135 million yuan, respectively, representing a year-over-year increase of 44.7%. In the first three quarters of 2025, revenue surged by 72.5% to 157 million yuan, up from 91 million yuan in the same period of 2024. The strong growth in revenue is attributed to sustained demand for core parallel robot products, whose revenue grew by 84.3% year-over-year in the first three quarters of 2025. Additionally, contributions from new business ventures and breakthroughs in overseas markets played a significant role. Notably, despite a small base, overseas business surged from 3.4 million yuan in 2023 to 11.8 million yuan in 2024, with revenue from abroad reaching 12.3 million yuan in the first three quarters of 2025, a growth of over 430% compared to the same period in 2024. The proportion of overseas revenue increased from 3.6% in 2023 to 7.8% in the first three quarters of 2025.

In a significant turnaround, Atomi Robot achieved a net profit of 938,000 yuan in the first three quarters of 2025, following net losses of 39.25 million yuan in 2023 and 47.07 million yuan in 2024, largely due to high research and development expenditures, losses during the market cultivation period for new products, and ongoing expansion efforts. The gross margin also improved from 17.0% in 2023 to 22.8% in 2024, reaching 28.9% in the first three quarters of 2025. However, the return to profitability was bolstered by government subsidies, with Atomi Robot receiving 5.3 million yuan, 5 million yuan, and 4.8 million yuan in subsidies for 2023, 2024, and the first three quarters of 2025, respectively. Excluding these subsidies, the company would still be in a loss position.

It is important to note that Atomi Robot’s revenue is heavily reliant on its parallel robots, which constitute over 50% of total revenue. New product lines, such as the high-speed SCARA robots launched in 2024, are still in the investment phase and have not yet generated significant returns, with a gross margin of -83.8% in the first three quarters of 2025. Although the heavy-duty collaborative robots have shown a positive gross margin in 2025, their profitability is sensitive to fluctuations in raw material costs and order volumes, and they have not yet become a stable profit contributor. The embodied intelligent robots, launched as a strategic direction in 2025, have not generated any revenue during the reporting period and remain in the investment phase.

Market Environment

The timing of Atomi Robot’s public offering is closely linked to the accelerating capitalization of the industrial robot sector. In just over a month into 2026, eight industrial robot-related companies have already submitted applications to the Hong Kong Stock Exchange. This wave of industrial robot listings peaked in September 2025, with several companies making significant strides to become leaders in their respective categories.

Atomi Robot’s growth journey has involved multiple rounds of financing, totaling 407 million yuan raised through seven funding rounds. Following a Series D funding round in October 2025, the company’s valuation reached 2.5 billion yuan. Currently, Yang Haoyong, the founder of Guazi Used Cars, holds an 8.9% stake, making him the largest external individual shareholder. Other stakeholders include industry giants like Lenovo, Haier, and listed company Siasun Robot, as well as venture capital firms like Shenzhen Capital Group and Guozhong Capital.

From a macro perspective, rising labor costs, the push for smart manufacturing policies, and urgent demands for industry upgrades are driving rapid growth in the industrial robot market. Frost & Sullivan predicts that from 2024 to 2029, the global markets for parallel robots, SCARA robots, and collaborative robots will experience compound annual growth rates of 11.7%, 12.2%, and 30.2%, respectively. As the largest market globally, China’s growth is expected to surpass the global average.

However, Atomi Robot also faces considerable competition. In 2024, international leader ABB shipped 3,200 parallel robots, capturing a market share of 15.2%, while Atomi Robot’s shipment volume stood at 1,012 units, with a market share of 4.8%. In the high-end market, Atomi Robot will continue to confront the overwhelming advantages of international giants like ABB and Stäubli in branding, technology, and global reach. Domestically, it will need to compete with peers like Bokent and Yifei Intelligent (also seeking to go public) on cost-effectiveness and service responsiveness.

Focusing on the new energy sector, Atomi Robot introduced its high-speed SCARA robots in 2024, aiming to tap into the incremental market potential. The prospectus indicates that the rapid expansion of battery production capacity and the standardization of processes within the new energy sector are driving the demand for equipment in battery sorting, module assembly, and packaging stages. However, the industry’s capital expenditure cycle directly impacts the volatility of robot orders. During industry downturns, clients are more stringent about return on investment, which may pressure the pricing power of equipment manufacturers. Additionally, embodied intelligent robots, represented by companies like UBTECH and Zhiyuan Robotics, also pose potential competition. Although still in their early stages, they represent a more versatile and intelligent direction for automation, which could potentially replace traditional forms, including parallel robots, in the long term. To proactively address this, Atomi Robot has ventured into this product line in 2025.

The primary goal of Atomi Robot’s IPO in Hong Kong is to leverage the power of the capital market to break through current development bottlenecks and prepare for the next phase of growth. According to the prospectus, the funds raised will primarily be allocated to the following areas: continuous investment in research and development to solidify its absolute technological leadership in parallel robots, accelerating the iteration and commercialization of new products like high-speed SCARA and embodied intelligent robots; building a multifunctional headquarters to enhance production capacity; expanding overseas business and brand development to cultivate a second growth curve and establish a global brand; and supplementing working capital to improve cash flow.

The ongoing wave of IPOs in the industrial robot sector not only provides valuable capital support for these companies but also presents a pressure test. As of the time of this report, inquiries regarding current business growth potential and future expansion plans directed to Atomi Robot had not received a response.