AGIBOT Innovation (Shanghai) Technology Co., Ltd.（智元创新（上海）科技股份有限公司）, a Shanghai-based embodied-AI robotics company commonly known as AgiBot, confirmed on July 24 that it had begun preparations for a Hong Kong initial public offering.
The announcement marks the start of the listing process rather than the filing of a formal application with the Hong Kong Stock Exchange. AgiBot has not publicly disclosed a submission date, proposed fundraising amount or listing timetable, and no prospectus containing audited financial statements has yet been published.
Founded in February 2023, AgiBot said its revenue increased from approximately RMB300,000 in its first year to more than RMB60 million in 2024 and RMB1.05 billion in 2025. The figures were disclosed by founder, chairman and chief executive Deng Taihua at a company partner conference rather than through a public securities filing. The company has not disclosed whether it was profitable in 2025 or provided a detailed breakdown of its revenue by product, customer or market.
AgiBot develops several types of embodied-AI machines. Its portfolio includes the A2 series of full-size humanoids, the smaller bipedal X2 series, the wheeled G2 series for industrial applications and D1 quadruped robots. The company also develops dexterous hands, robot foundation models, datasets and software tools intended to support manipulation, navigation and human-machine interaction.
Research firm Omdia identified AgiBot as the largest supplier in its general-purpose embodied-intelligent-robot segment in 2025, based on 5,168 shipments reported by the company. Omdia estimated that AgiBot accounted for about 39% of the approximately 13,000 units shipped across the segment worldwide.
The ranking should be treated cautiously. Omdia’s category includes both bipedal humanoids and wheeled embodied robots, and its AgiBot figure was supplied by the company. Unitree Robotics later said it had delivered more than 5,500 humanoid robots to end customers in 2025, above the 4,200 units estimated for Unitree in the Omdia report. The conflicting disclosures mean that a definitive shipment leader cannot be established without consistent product definitions and independently verified data.
AgiBot has moved more quickly into production than many Western humanoid-robot developers, but shipment volume does not by itself demonstrate broad autonomous deployment in factories. Its robots currently address a mixture of industrial trials, logistics, exhibitions, entertainment, education, research and data-collection applications. Omdia described the broader market as having advanced from prototypes to scaled pilot programs by late 2025, while noting that genuinely general-purpose robots capable of independently handling diverse, unstructured tasks remain at an early stage.
A Hong Kong listing could provide AgiBot with additional capital and a platform for international expansion. The company has already promoted its products in Europe and Asia and has described manufacturing, logistics, commercial services and research as target markets. Until a prospectus is published, however, the intended use of proceeds and the scale of its overseas revenue remain unknown.
The eventual filing will therefore be important for more than the proposed valuation. It should provide the first detailed view of AgiBot’s profitability, research spending, customer concentration, revenue composition and dependence on investors, ecosystem partners or state-backed projects. Those disclosures will help investors judge whether its rapid growth represents durable end-user demand or an early-stage market still being built through pilot programs and strategic procurement.