Standard Robots (Wuxi) Co., Ltd.（斯坦德机器人（无锡）股份有限公司）has filed a third application for a listing on the Hong Kong Stock Exchange, after revenue more than doubled in the first four months of 2026 and sales outside mainland China rose nearly ninefold.
The industrial mobile-robot company submitted its latest application on July 27, with CITIC Securities (Hong Kong) Limited and Guotai Junan Capital Limited acting as joint sponsors.
Revenue reached RMB106.9 million ($15.8 million) in the four months ended April 30, up 139.1% from a year earlier, according to the application. Revenue generated outside mainland China increased from approximately RMB8.18 million to RMB72.6 million, raising its share of total revenue from 18.3% to 67.9%.
The company’s overseas classification included Hong Kong and Taiwan as well as Japan, Vietnam and Thailand. The increase was therefore not limited to foreign countries, although it still marked a sharp shift in the geographic composition of the business.
Standard Robots develops industrial intelligent mobile robots and related automation systems for manufacturers in sectors including consumer electronics, automobiles and semiconductors. Its products include standard mobile robots, functional robots designed for specific industrial tasks and integrated robot solutions supported by its SROS operating system and RoboVerse coordination platform.
As of July 23, the company’s solutions had been adopted by more than 400 customers worldwide, according to the filing. Citing a report by China Insights Consultancy commissioned by the company, Standard Robots said it ranked fourth in China’s industrial intelligent mobile-robot solutions market by sales volume in 2025, with a 4.0% share.
The company reported revenue of RMB162.2 million in 2023, RMB250.5 million in 2024 and RMB301.5 million in 2025. Its overall gross margin rose from 31.6% to 38.8% and then to 40.5% over the same period.
However, Standard Robots remains loss-making. Its net loss widened to RMB61.8 million in the first four months of 2026 from RMB56.1 million a year earlier, even as its adjusted net loss narrowed from RMB27.1 million to RMB23.9 million.
The latest figures also show that early-2026 growth was driven partly by robot sales through system integrators. Functional robots accounted for 55.1% of revenue during the four-month period, while robot solutions contributed 38.2%. System integrators generated 69.1% of total revenue.
Cash conversion remains another issue. Net trade and bill receivables stood at RMB172.4 million at the end of April, while the turnover period for those receivables increased to 272.5 days. The company recorded a net operating cash outflow of RMB64.5 million during the four-month period.
Standard Robots first applied for a Hong Kong listing in June 2025. That application lapsed, as did a second filing submitted in January 2026. The company has not publicly disclosed a final offering size or listing timetable, and the latest application remains subject to regulatory review.