On January 19, HKEX filings shows that Suzhou Junion Intelligent Technology Co., Ltd. (hereinafter referred to as “Junion”) has submitted a listing application to the HKEX, with CICC and Citi as joint sponsors.
Looking back at its listing process, Junion initially planned to list on the SSE STAR Market. On February 7, 2022, the company signed a listing guidance agreement with Orient Securities Investment Banking Co., Ltd., and simultaneously submitted an A-share listing guidance filing application to the Jiangsu Regulatory Bureau of China Securities Regulatory Commission. Subsequently, it also submitted multiple guidance progress reports as required, steadily advancing the preparations for SSE STAR Market listing.
This strategic adjustment stems from multiple considerations. The company stated that after comprehensively assessing the overall market environment at the time, its own business development stage, and funding needs, it decided to terminate its A-share guidance and turn to the HKEX for an H-share listing. The core purpose of this decision was to leverage the broader international financing platform of the Hong Kong stock market to raise sufficient funds for business expansion, technology research and development, and supply chain layout; simultaneously, by utilizing the international influence of the Hong Kong capital market, the company aimed to enhance its brand awareness and global recognition, further broaden its investor base, and build a capital bridge for future global business expansion. On December 22, 2025, the company officially terminated its A-share listing guidance process, completing a key shift in its listing path.
According to the prospectus, Junion is a leading scenario-based embodied robotics company in China. Leveraging its independently developed full-stack robot technology and deep expertise in the industrial sector, the company primarily designs, develops, and deploys multi-form scenario-based embodied robots with perception, decision-making, and interaction capabilities for the industrial field.
The company is one of the few suppliers that designs intelligent embodied industrial robots for clean energy technology, electronics and semiconductors, and optical modules.
Junion’s robot solutions are built upon its independently developed full-stack robot technology, making it one of the few companies in China’s intelligent embodied industrial robot solutions industry with independent full-stack R&D capabilities.
The company’s technologies encompass core software and algorithms, including robot perception, planning, control, and complex swarm scheduling, as well as key hardware components such as LiDAR, robotic arms, controllers, and actuators. As of September 30, 2025, the company’s R&D team consisted of 168 professionals, representing 40.6% of its total employees. Through continuous R&D investment, as of September 30, 2025, the company held 201 registered patents and 82 pending patent applications in China, including 24 registered invention patents and 47 pending invention patent applications, as well as 36 software copyrights.
During the track record period, Junion has sold over 11,000 scenario-based embodied robots to 156 customers across 16 industrial sectors, including 48 listed companies or their subsidiaries. According to Frost & Sullivan, during the track record period, the company’s major customer retention rate reached 72.7%, exceeding the industry average for scenario-based embodied robotics solution providers in China.
During the track record period, the company’s revenue and net profit both achieved rapid growth. The company’s revenue increased by 76.9% from RMB 207 million in 2023 to RMB 366 million in 2024. For the nine months ended September 30, 2025, the company’s revenue was RMB 410 million, an increase of 71.1% compared to RMB 240 million in the same period of 2024. The company’s net profit increased by 257.4% from RMB 9.1 million in 2023 to RMB 32.6 million in 2024, and by 69.4% from RMB 15 million for the nine months ended September 30, 2024 to RMB 25.5 million for the same period of 2025.
As of the latest practicable date, the company operated three leased production plants in Suzhou, Jiangsu Province. In addition, the company is constructing a new production plant in Suzhou, Jiangsu Province, primarily for the deployment of production lines for scenario-based embodied robots and core robot components.
The prospectus shows that Junion’s shareholders include Sequoia Capital and SHANG Finance.
The proceeds from Junion’s Hong Kong IPO are currently intended for the following uses: to advance the company’s research and development of software, algorithms, core components, and next-generation scenario-based embodied robots between 2026 and 2030. The company aims to enhance its technological capabilities and accelerate product and solution upgrades, thereby consolidating its position in the scenario-based embodied robotics solutions industry.
Funds will be allocated to establish production facilities between 2026 and 2030, which the company believes will strengthen its manufacturing capabilities and enable large-scale delivery of scenario-based embodied robots, to expand and strengthen the company’s sales and service network between 2026 and 2030, and to seek strategic alliances, investments, and acquisition opportunities in the upstream and downstream segments of the scenario-based embodied robotics solutions industry. The remaining funds are expected to be used for working capital and general corporate purposes.
