Almost 30 firms across the robotics industry chain have filed their listing applications. Among these, trailblazers founded between 2012 and 2015, like UBTECH and Geek+, have made their successful debut on the Hong Kong Stock Exchange after roughly a decade of growth. Their market capitalizations have soared past the 10 - billion - yuan mark. However, a common scenario persists: these companies witness revenue growth side - by - side with continuous losses. The root cause of these losses lies in two main factors. Firstly, there are hefty strategic investments aimed at erecting long - term competitive barriers. Secondly, some enterprises operate in a fiercely competitive market landscape.

When it comes to valuing these companies, the capital market puts a greater premium on the sector's potential, technological hurdles, and the caliber of revenue growth. In 2025, robotics firms established between 2015 and 2018, such as Youibot, have also set their sights on going public. These companies boast more streamlined business operations and have secured high financing valuations. Yet, they too are largely in the red. The Hong Kong Stock Exchange has become their preferred choice, thanks to its more lenient listing requirements.

With the emergence of embodied intelligence, companies like Unitree Robotics and Zhi Yuan Robot have experienced rapid expansion, with their valuations hitting the billion - dollar level. Nevertheless, their commercialization journey is still in its infancy. They grapple with challenges like technological transformation, cost management, and exploring market demand. While investors maintain a bullish outlook on their future, the exact development trajectories remain up in the air and call for further exploration.