Mech-Mind Robotics（梅卡曼德）began trading on the Hong Kong Stock Exchange on September 1 under ticker 09615. The company priced its IPO at HK$101.70 per H share, issuing 23.14 million shares and raising gross proceeds of about HK$2.35 billion. Shares closed their first session at HK$99.80, down 1.87%.
The offering valued Mech-Mind at about HK$12.7 billion at the issue price. Net proceeds are expected to support research and development, global commercialization, product expansion, production capacity and working capital.
Founded in 2016, Mech-Mind supplies intelligent robot components rather than complete robots. Its products combine 3D vision, AI software and manipulation hardware for applications in manufacturing, automotive, logistics and warehousing. The company describes this architecture as an “eye-brain-hand” system.
Revenue increased from CNY 180.8 million in 2023 to CNY 388.8 million in 2025, a 46.6% compound annual growth rate. Gross margin rose from 39.1% to 64.6% over the same period, although the company remained loss-making, reporting a net loss of CNY 360.2 million in 2025.
Overseas revenue reached CNY 195.5 million in 2025, or 50.3% of total revenue, marking the first time it exceeded the domestic share. That mix should be treated as a 2025 result rather than a current run rate: overseas revenue represented 44.0% of sales in the first quarter of 2026. The prospectus cited CIC data placing Mech-Mind first in the global AI-plus-3D-vision-guided intelligent robot-components market by 2025 revenue, with a 22.1% share.
The debut gives public-market investors a new way to assess China’s robotics supply chain beyond robot makers themselves. Its long-term test will be whether overseas component sales, high gross margins and standardised products can translate into lower losses and durable profitability.
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