IPO News | Huanchuang Technology mainly supplies space-sensing components to sweeping robots through Hong Kong Stock Exchange hearing

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on September 13, Shenzhen Huanchuang Technology Co., Ltd. (Huanchuang Technology for short) passed the Hong Kong Stock Exchange main board listing hearing, with CICC and Guoxin Securities (Hong Kong) as co-sponsors.

According to the prospectus, Huanchuang Technology is committed to developing space-sensing products and focuses on sweeping robots. The company mainly supplies space-sensing components for sweeping robots to be integrated into equipment to generate revenue. The company has built an intelligent space sensing system to provide algorithms and hardware for sweeping robots. Since its establishment, the total shipment volume has exceeded 39 million units. In 2025, total shipments of lidar and linear laser sensors will exceed 10 million units and 5 million units respectively. In China, the spatial perception of sweeping robots accounts for only a relatively small portion of the intelligent robot spatial sensing market, accounting for about 5.9% of the market in terms of sales revenue in 2025.

After years of technology development and product iteration, the company provides a diverse product matrix covering traditional triangulation lidar, direct time-of-flight lidar (“dToF lidar”), 3DTOF lidar and linear laser sensors, which can meet the differentiated needs of multiple application scenarios. The company also has self-developed sub-millimeter spatial data processing chip design and core spatial perception algorithm capabilities.

The company's technical framework is deeply rooted in core space sensing algorithms, which enable sweeping robots to accurately sense the surrounding environment and form comprehensive spatial understanding capabilities. Although spatial perception faces inherent challenges from changes in lighting conditions, materials, textures, and object characteristics, the company's proprietary products can significantly improve environmental adaptability, stability, and interference resistance. The company's advanced algorithms and customized chips support millimeter and sub-millimeter accuracy. With automatic image signal processing and distance measurement technology, the company has achieved high stability and accuracy under various materials and lighting conditions, thereby improving performance. The company continuously improves solutions through a massive simulation environment that can reproduce real-world scenarios. At the same time, the company's wireless update function can be regularly upgraded according to customer feedback and changing market needs to help better understand and respond to the surrounding environment with increasing precision.

The company has established relationships with major customers in the field of sweeping robots, providing services to the top five companies in the sweeping robot industry, and has also received excellent supplier awards from these companies for many years. For example, the company has maintained continuous cooperation with a number of customers for three to six years, and continues to cooperate with each of them. Through continuous technology iteration and strict market verification, the company has become a key player in the market for spatial sensing technology for sweeper robots. With the company's technical capabilities, the company is also expanding into new fields such as lawnmower robots, pool cleaning robots, and humanoid robots.

On the financial side, in the three months ending March 31 in 2023, 2024, 2025, and 2026, the company achieved revenue of about 332 million yuan, 433 million yuan, 614 million yuan, and 196 million yuan respectively. In the same period, annual/period profits were recorded at -883,000 yuan, -31.375,000 yuan, 2.01 million yuan, and 7.757 million yuan, respectively.