LAIFUAL (Stock Code: 03952) has commenced trading on the Hong Kong Stock Exchange. The company set the final offer price at HK$85.5 per share, issuing a total of 13.4419 million shares in lots of 100. The net proceeds from the offering are approximately HK$1.003 billion.

In early trading, the shares opened higher, rising 3.16% to HK$88.2, with a turnover of HK$334 million.

According to its prospectus, LAIFUAL is a Chinese provider of precision transmission core components for robots. The company offers a product portfolio covering harmonic reducers, joint modules, robotic arms, and even automated workstations. Its products are primarily used in the fields of humanoid robots and industrial robots.

Based on a report by CIC, in terms of 2025 shipment volume, LAIFUAL ranks as the second-largest provider of robotic harmonic reducers in China, holding a market share of 21.4%. By revenue, it also holds the second position, with a market share of 12.9%.

According to the same data source, as of December 31, 2025, LAIFUAL was identified as one of only two domestic manufacturers that had achieved delivery and entered mass production of harmonic reducers for humanoid robots.