IPO News | ROBOTCO (03757) Closes IPO Margin Subscription Amount of HK$3,593 billion, overbought by 5.93 times

The Zhitong Finance App learned that Roboco (03757) offered shares from September 21 to 24. The subscription has now ended and will be listed and traded on the Hong Kong Stock Exchange on September 29. As of noon on September 24, based on the amount of publicly raised capital of HK$5177.9 million, the Robotec margin subscription amount was approximately HK$3,593 million, an increase of 5.93 times.

The company's prospectus plans to sell 11.876 million H shares globally, with the Hong Kong public offering accounting for about 10%, the international offering accounting for about 90%, and an additional 15% over-allotment rights. The offering price will not exceed HK$436 per share sold, with Citibank, Huatai International and Orient Securities International as co-sponsors.

Robotec is a global supplier of manufacturing equipment and systems for the photovoltaic industry and the silicon light industry. The company's photovoltaic manufacturing solutions include (i) photovoltaic manufacturing equipment, which mainly includes automated equipment for photovoltaic cell production to perform functions such as silicon wafer handling; (ii) a complete production line, where the company integrates its own equipment with equipment purchased from third party suppliers as needed, along with related design, configuration and installation services to provide a complete solution tailored to the customer's specific needs; (iii) an intelligent manufacturing system, which is a software-centered solution built around the company's proprietary R2FabMES platform to achieve the customer's production facility Automate plant operations.

According to Insight Consulting, in terms of revenue in 2025, the company ranked fifth in the world in the field of automated manufacturing equipment for intelligent photovoltaic cells, with a market share of 2.6%, and ranked first in the world in the field of silicon photovoltaic intelligent manufacturing equipment in terms of revenue in 2025, with a market share of 20.5%.

Robotec's 2026 semi-annual report shows that during the reporting period, the company achieved revenue of 608 million yuan, an increase of 144.82% over the previous year. Achieved net profit of 6.556,800 yuan attributable to shareholders of listed companies. Achieve net profit of 3.884 million yuan attributable to shareholders of listed companies after deducting non-recurring profit and loss. As of the disclosure date of the report, the amount of active orders with unconfirmed revenue was approximately $3.386 billion.

In terms of capital raised, approximately 20.0% of the net proceeds from the global sale (assuming overallotment rights and sale size-adjustment rights are not exercised) will be used to enhance product and technology R&D and innovation; approximately 40.0% will be used to expand production capacity and increase delivery speed; approximately 10.0% will be used to establish a global sales and service network; approximately 20.0% will be used for strategic investments and/or acquisitions; and approximately 10.0% will be used for working capital and other general corporate purposes.

Furthermore, the company has entered into a Cornerstone Investment Agreement with Cornerstone Investors. According to this, Cornerstone Investors have agreed to subscribe at the sale price or facilitate their designated entities to subscribe for the relevant number of shares to be purchased for a total amount of about US$232.4 million, subject to certain conditions.

The company's cornerstone investors include Temasek Holdings (Private) Limited, Shengtian Industrial Group (Hong Kong) Limited, Ivy Asset Management (Hong Kong) Limited, E-Fangda Fund Management Co., Ltd., E-Fangda Asset Management (Hong Kong) Co., Ltd., Shanghai Cambridge Technology Co., Ltd., Victory Privilege Fund of C-Winner Global Fund, Wind Sabre Fund SPC, Chengheng International Group Limited, Arrowpoint Master Fund, Stable Growth Fund SP, Luhua Asset Management Co., Ltd., Bloom Capital Limited, Mr. Lai Bolin, Mr. Xia Shengli, Mr. Zhu Guodong, Mr. Zheng Xiaofeng.