IPO News | 'Intralogistics Robotics Provider' Galaxis Technology launches its IPO, with plans to list on March 24. The subscription amount for one lot is HKD 4,121.15.

Futu Information reported on March 16 that$GALAXIS TECH (02729.HK)$Announcement issued: The company will conduct its IPO from March 16 to March 19 and plans to offer approximately 36,798,000 shares globally, with an expected listing date of March 24.

Company Overview

The company is a comprehensive intelligent intralogistics robotics provider, offering a wide range of robotic products primarily across three core product lines: Multishuttle Robots (MSR), Autonomous Mobile Robots (AMR), and Conveyor Sorting Robots (CSR). The company's portfolio of robotic products features core functionalities such as access, sorting, and handling, covering the entire scope of intralogistics operations.

The company is one of the established players in the intelligent intralogistics robotics industry, possessing extensive robotic technology capabilities and a diversified portfolio of self-developed robotic products, encompassing widely adopted height and payload specifications for core intralogistics functions. Over the past decade, the company has been committed to innovation in intralogistics automation. Based on 2024 revenue, the company ranks fifth among China’s top five comprehensive intelligent intralogistics robotics companies, with a market share of 1.6%.

Financial Overview

The company's revenue increased from RMB 656.9 million in 2022 to RMB 721.4 million in 2024, while gross profit grew from RMB 103.4 million in 2022 to RMB 113.6 million in 2024. Additionally, the company's revenue surged significantly from RMB 344.2 million for the nine months ended September 30, 2024, to RMB 551.6 million for the same period in 2025, with gross profit increasing from RMB 60.2 million to RMB 91.4 million.

The gross profit margin of the company for the years 2022, 2023, and 2024, as well as for the nine months ended September 30, 2024, and 2025, reached 15.7%, 16.6%, 15.7%, 17.5%, and 16.6%, respectively.

Use of Proceeds

In terms of use of proceeds, Galaxis Technology is expected to receive net proceeds of approximately HKD 617 million from the global offering (assuming the over-allotment option is not exercised, calculated at the mid-range offer price of HKD 18.4). According to the prospectus, Galaxis Technology intends to allocate the proceeds from the global offering for the following purposes in the specified amounts:

Approximately 24.5% will be used over the next six years to advance the company's core robotics product lines (e.g., improving existing products and developing new ones) to strengthen its market position, expand the range of solution services, and reinforce its leadership in the intralogistics robotics field. About 20.5% will be allocated to the research and development of the company’s underlying technologies (e.g., digital twin technology, large model technology, and AI-integrated robotics) and software capability development to enhance its technological capabilities and improve product performance, enabling the company to provide smarter and more efficient solutions to customers.

Approximately 25.0% will be used to expand production capacity and enhance manufacturing capabilities (e.g., scaling up manufacturing capabilities and upgrading the company’s production systems). About 20.0% will be used to support the company’s market development initiatives, including selective overseas business expansion, aiming to enhance brand recognition and improve the company’s ability to serve multinational clients. Approximately 10.0% will be allocated to working capital and other general corporate purposes to support daily operations and overall business growth.

More reading:Kailesi Technology Prospectus

The golden season for subscribing to new stocks has arrived! Use Futu to subscribe to new stocks with 0 interest, 0 handling fees, and 0 cash subscription. Participate now for a chance to waive new stock subscription fees for one year!Come and experience it now >>

Editor/Vincent

30K Views