By Jason Chau
Shares of Chinese robot maker Shenzhen Ldrobot more than doubled in their Hong Kong trading debut, a sign of continued investor enthusiasm for China's robotics sector.
Shenzhen Ldrobot's stock jumped as much as 150% Monday morning to 66.00 Hong Kong dollars, from its initial public offering price. Shares were recently 125% higher.
The company raised HK$878.7 million, equivalent to $112.2 million, by selling 33.3 million shares in the IPO.
The robotics company specializes in developing LiDAR products, which are widely used to guide visual perception and navigation for robotic vacuum cleaners, logistics robots and service robots in hospitality settings. It can also design and manufacture robots in-house.
Shenzhen Ldrobot said in an exchange filing it plans to use close to half of the net proceeds raised on research and development of its intelligent robotic vision technology and upgrade it with AI capabilities. The remaining funds will be used to expand its international business as well as its production capacity.
The listing comes as China moves to strengthen its leadership in robotics. The sector has received significant government backing as Beijing channels resources into what it deems priority industries.
Shenzhen Ldrobot's IPO is part of a broader wave of listings by robotics companies as they seek to capitalize on strong market sentiment. Industry leader Unitree Robotics recently filed for an IPO in Shanghai, while Robotphoenix Intelligent Technology has started taking orders for its Hong Kong listing.
Write to Jason Chau at jason.chau@wsj.com
(END) Dow Jones Newswires
May 11, 2026 00:18 ET (04:18 GMT)
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