On September 29, 2025, Shenzhen Camsense Technologies Co., Ltd. ("Camsense Technologies"), a company based in Longhua District, Shenzhen, Guangdong Province, submitted its IPO prospectus to the Hong Kong Stock Exchange, seeking to list on the Hong Kong Main Board.
**Core Business**
Founded in 2013, Camsense Technologies is a globally leading provider of high-precision spatial perception solutions. The company leverages AI technology to build intelligent spatial perception systems, providing high-precision algorithms and related hardware for smart robots.
According to Frost & Sullivan, Camsense Technologies ranked first globally in the spatial perception solutions sector for robotic vacuum cleaners by revenue in 2024. In 2024, the company maintained its leading position in the robotic vacuum cleaner LiDAR products sector in terms of both revenue and shipment volume, with approximately 8 million units shipped and a market share exceeding 50% by shipment volume. Since its establishment, the company has achieved cumulative shipments of over 25 million units. In the first half of 2025, the company continued its steady growth trajectory, with total shipments of LiDAR and line laser sensors exceeding 5 million and 2 million units, respectively.
Camsense Technologies has built one of the most comprehensive and commercially scaled spatial perception product portfolios in the smart robotics industry. Through years of technological advancement and product iteration, the company offers a diversified product matrix covering traditional triangulation LiDAR, dTOF LiDAR, 3D TOF LiDAR, and line laser sensors, meeting the differentiated needs across smart robotics, XR, industrial inspection, and other sectors.
Camsense Technologies is one of the few companies in the smart robotics industry that simultaneously possesses both proprietary sub-millimeter AI spatial data processing chip design capabilities and core spatial perception AI algorithms. Through its innovative consumer-grade CIS plus proprietary ASIC chip technology solution, the company has redefined the cost-efficiency boundaries of robotic spatial perception technology, achieving superior cost advantages, higher positioning accuracy, and commercial scalability.
The company's technology framework is deeply rooted in core spatial perception AI algorithms, empowering smart robots to accurately perceive their surrounding environment and develop comprehensive spatial understanding capabilities, thereby achieving true embodiment. Camsense Technologies has established long-term relationships averaging over five years with major clients in the smart robotics sector, serving as a core supplier to four of the top five robotic vacuum cleaner companies and receiving outstanding supplier awards from these companies for consecutive years.
Camsense Technologies primarily generates revenue through the sale of various LiDAR products and line laser sensor products.
**Shareholder Structure**
According to the prospectus, the pre-IPO shareholder structure of Camsense Technologies includes:
Mr. Wang Jian directly holds 12.52% of shares and controls an additional 3.10% and 1.48% through Huanchuang Investment and Xinle Management, respectively;
Mr. Zhou Kun directly holds 10.31% of shares and controls an additional 1.92% through Huanchuang Times;
Mr. Liu Yi holds 1.86% of shares;
The above shareholders, through a concerted action arrangement, collectively hold approximately 31.20% of shares, making them the single largest shareholder group.
Other shareholders include Oriental Fortune Capital, Qianhai Ark Asset, Cornerstone Asset, Zhejiang Puhua Tianqin, Xiyang Investment, Beihang Asset, Kaisheng Nanshan, Chenhui Venture, and Stone Technology (688169.SH).
**Board of Directors and Management**
Camsense Technologies' board comprises nine directors, including:
**Four Executive Directors:** - Mr. Wang Jian (Chairman and Joint General Manager); - Mr. Zhou Kun (General Manager); - Mr. Huang Shuguang (CFO and Deputy General Manager); - Ms. Qiu Lin (Senior Business Manager);
**Two Non-Executive Directors:** - Ms. Li Shangran (Deputy Investment Director at Oriental Fortune Capital); - Mr. Liu Xinpeng (Investment Director at Smart Internet Telecom Ark);
**Three Independent Non-Executive Directors:** - Mr. Dong Shengtang (Partner at Zhejiang Tianche Law Firm); - Mr. Zhen Weijie (Advisor to multiple select investor institutions including Xuanzhi Capital); - Mr. Liang Wenzhao (Chairman of Shenzhen Hejun Private Equity Fund).
In addition to the executive directors, senior management includes: - Dr. Chen Yue (CTO and Deputy General Manager); - Mr. Song Jiangping (Senior Deputy General Manager); - Mr. He Jian (Deputy General Manager); - Ms. Chen Pei (Deputy General Manager, Board Secretary, and Joint Company Secretary).
**Financial Performance**
According to the prospectus, for the years 2022, 2023, 2024, and the first six months of 2025, Camsense Technologies recorded revenues of RMB 146 million, 332 million, 433 million, and 292 million, respectively, with corresponding net losses of RMB 28.695 million, 0.883 million, 31.375 million, and 4.157 million, respectively.
**Intermediary Team**
The key intermediaries for Camsense Technologies' IPO include: - China International Capital Corporation Limited and Guosen Securities Co.,Ltd. as joint sponsors; - Ernst & Young as auditor; - AllBright Law Offices as Chinese legal counsel; - Cahill Gordon & Reindel as Hong Kong and US legal counsel; - King & Wood Mallesons as underwriter's Chinese legal counsel; - King & Wood Mallesons (Hong Kong) as underwriter's Hong Kong and US legal counsel; - First Shanghai as compliance advisor; - Frost & Sullivan as industry consultant.