IPO News | Youdi Robotics (03231) concludes its offering, margin subscription amount exceeds HK$4.2 billion, overbought by 94.79 times

The Zhitong Finance App learned that YouDi Robot (03231) offered shares from August 31 to September 4, 2026. Up to now, the offering has ended. According to market data, the Group received a total margin subscription of HK$4.214 billion, with an amount of publicly raised capital of HK$449.9 million, which was 94.79 times more oversubscribed.

According to the issuance plan, the company plans to sell 45 million shares globally, of which Hong Kong sales account for 5% and international sales account for 95%. The sale price will be HK$14.45-19.55 per share, with 200 shares per lot. It is expected that the shares will start trading on the Stock Exchange on September 9, 2026.

According to the prospectus, Yudi Robotics mainly commercializes the company's technology and generates revenue through sales of robot products and modules, provision of AI visual model solutions for industry applications, and RaaS arrangements and leasing arrangements.

The company's main robot product lines include the Youxiao series for indoor delivery and guest guidance, the Youxiao Dee series for high-volume indoor delivery, the Youxiao Gu series for on-demand delivery in closed environments, the Youxiao Gu series for indoor and outdoor cleaning, and the Youxiao Bee series vending robots for unmanned retail applications.

On the financial side, in 2023, 2024, 2025 and the first three months of 2026, the company achieved total revenue of approximately RMB 244 million, RMB 267 million, RMB 318 million, and RMB 765.13 million, respectively. In the same period, annual/period losses of approximately RMB 251 million, RMB 151 million, RMB 111 million, and RMB 31.26,000 were recorded respectively.

The company has entered into a Cornerstone Investment Agreement, and Cornerstone Investors have agreed to calculate the total number of shares to be offered at HK$17.00 (i.e. the median of the indicative offering price range) for each H share, if certain conditions are met, the total number of shares to be subscribed by Cornerstone Investors is 1.3892 million shares.

The Company's cornerstone investors include SensePower Management Limited (“SensePower”, an indirect wholly-owned subsidiary of Shangtang-W (00020)) and CYGG Holding Limited (“CYGG”, a wholly-owned subsidiary of Group 58).

The net proceeds from the global sale are intended to be used for the following purposes: (1) approximately 48.5% will be used to further enhance the company's R&D capabilities, expand the company's R&D team, and enhance the company's core technology for indoor and outdoor delivery and cleaning robot products; (3) approximately 7.0% will be used to enhance the company's sales and marketing capabilities; (4) approximately 4.5% will be used to repay part of bank loans; and (5) approximately 10.0% will be used for working capital and other general corporate purposes.