On September 30, CAMSENSE (06802.HK) officially listed on the Main Board of the Hong Kong Stock Exchange. As of market close that day, CAMSENSE traded at HK$215.2 per share, up 265.68%, with a total market capitalization of HK$20.783 billion.

CAMSENSE offered 11.5888 million H shares globally in this IPO, representing approximately 12% of the total share capital after completion of the offering. The final offer price was HK$58.85 per share, raising gross proceeds of approximately HK$682 million globally, with net proceeds expected to be approximately HK$615.4 million after deducting listing expenses. The Hong Kong public offering was ultimately oversubscribed by 3,546.91 times, receiving a total of approximately 157,300 valid applications, with a one-lot allotment rate of 2%; the international offering was oversubscribed by 5.53 times. Ultimately, the Hong Kong public offering and the international offering accounted for 10% and 90% of the global offering, respectively.

CAMSENSE introduced two cornerstone investors for this IPO. BYD's wholly-owned subsidiary Golden Link Worldwide Limited subscribed for HK$100 million; and Zhongrun Optical (688307.SH)'s wholly-owned subsidiary Taiwan Zhongrun subscribed for HK$10 million. Together, the two were allotted approximately 1.8692 million shares, representing approximately 16.13% of the total shares in this offering.

According to company information, CAMSENSE was founded in 2013 and develops spatial perception products with a focus on robot vacuum applications. Leveraging AI technology, it has built an intelligent spatial perception system that provides algorithms and hardware for robot vacuums. According to its prospectus, the company's cumulative shipments since its founding have exceeded 39 million units. In 2025, total shipments of LiDAR and line laser sensors exceeded 10 million units and 5 million units, respectively. Citing data from CIC, the company noted that in 2025, by revenue, CAMSENSE ranked first globally in the robot vacuum spatial perception solutions sector.

Currently, the company's main products include traditional triangulation ranging LiDAR, dTOF LiDAR, 3D TOF LiDAR, and line laser sensors.

Financial data shows that from 2023 to 2025 and the first quarter of 2026, CAMSENSE's revenue was approximately RMB 332 million, RMB 433 million, RMB 614 million, and RMB 196 million, respectively; gross profit was approximately RMB 71.255 million, RMB 70.841 million, RMB 101 million, and RMB 37.58 million, respectively, with gross margins of 21.5%, 16.3%, 16.5%, and 19.2%, respectively; net profit was approximately -RMB 883,000, -RMB 31.375 million, RMB 2.201 million, and RMB 7.757 million, respectively. Based on the financial statements, the company only turned profitable in 2025.

In 2025, revenue from triangulation ranging LiDAR was RMB 400 million, accounting for 65.7% of total revenue; revenue from dTOF LiDAR was RMB 65.03 million, accounting for 10.6%; and revenue from line laser sensors was RMB 134 million, accounting for 21.8%. As of the end of March 2026, CAMSENSE's cash and cash equivalents balance was approximately RMB 26.314 million.

In terms of customer concentration, from 2023 to 2025 and the first quarter of 2026, CAMSENSE's top five customers accounted for 93.6%, 89.2%, 80.4%, and 85.6% of revenue, respectively. The largest customer accounted for 37.1%, 36.1%, 29.0%, and 37.3% of revenue during the same periods, respectively.

After listing, the two co-founders Wang Jian and Zhou Kun hold 13.39% and 11.44% stakes, respectively; Wang Jian, Zhou Kun, Liu Yi (holding 1.64%), and the employee shareholding platform form a concert party, collectively controlling approximately 27.46% of voting rights. Among institutional shareholders, the Oriental Fortune series holds 11.96%, making it the largest external institutional shareholder; the Qianhai series funds and the Xiyang series funds hold 6.81% and 6.28%, respectively; the Kaisheng series holds 4.84%; and Lingrui Cornerstone holds 3.99%. In addition, financial investment institutions such as PwC and Guosen Capital, as well as industrial capital such as Roborock, are also among the shareholders.