Estun, the leading industrial robotics company, has been listed on the Hong Kong Stock Exchange, with Futu supporting the A+H dual listing

On March 9, 2026, Nanjing Estun Automation Co., Ltd. (referred to as: Estun, stock code: $ESTUN (02715.HK)$ ), a leading enterprise in China's industrial robotics sector, was successfully listed on the Main Board of the Hong Kong Stock Exchange, entering a new phase of coordinated development through dual capital platforms of 'A+H'.

During this IPO process,Futu, acting as joint bookrunners (JBR) and joint lead managers (JLM), participated throughout the issuance process.Leveraging the advantages of its globalized technology trading platform, along with extensive high-net-worth and institutional investor resources, Futu effectively introduced diverse, high-quality, and actively traded global capital to Estun, strengthening the company’s investor base and laying a solid foundation for post-listing stock activity and market liquidity.

According to the prospectus, Estun's IPO included cornerstone investors such asHarvest Oriental, Hengtong International, Dream'ee HK Fund, Zhiyuan, Haitian Huayuan, Yuxiang, Qianhai Hezhong Investment,with a total subscription amount of approximately66.91 million US dollars (approximately 523 million Hong Kong dollars), providing strong support for the company's long-term stable development.

The prospectus shows that Estun is a leading provider of industrial robots and automation solutions in China, with a full industrial chain layout ranging from core components and motion control systems to industrial robots and smart manufacturing systems. According to Frost & Sullivan:

- Companyhas ranked first in terms of shipment volume of industrial robots among domestic enterprises in China for several consecutive years.；

In the first half of 2025, the shipment volume of industrial robotssurpassed foreign brands for the first time., becomingThe first domestic enterprise to top the Chinese industrial robot solutions market.；

Based on 2024 revenue, the company rankssixth among global and Chinese industrial robot manufacturers,with a 1.7% global market share and a 2.0% share in China.

The company’s products are widely used in high-end manufacturing sectors such as automotive, construction machinery, heavy industry, and lithium batteries, serving numerous leading clients across industries and acting as a benchmark for domestic industrial robot brands replacing foreign competitors.

According to Frost & Sullivan, the global industrial robotics solutions market size is expected to grow from USD 25.4 billion in 2024 to USD 51.8 billion by 2029, representing a compound annual growth rate (CAGR) of 15.4%. In China, the market is projected to increase from USD 12.7 billion to USD 28.8 billion during the same period, with a CAGR of 17.8%, offering significant growth opportunities for industry leaders.

Financial data shows that Estun Automation has maintained steady business scale expansion and continuous profitability improvements. From 2022 to 2024, the company achieved revenues ofRMB 3.881 billion, RMB 4.652 billion, and RMB 4.009 billion respectively.In 2025, operational quality significantly improved, successfully turning losses into profits while cash flow conditions continued to optimize.

The prospectus disclosed that Estun Automation plans to allocate the net proceeds from this IPO based on the following strategic purposes:

- 25%: Expand global production capacity.

- 25%: Strategic alliances, investments, and acquisitions across the upstream and downstream industrial chain

- 20%: Research and development investment to advance next-generation industrial robotics technology

- 10%: Enhancing global service capabilities and building a digital management system

- 10%: Partial repayment of existing loans

- 10%: Working capital and general corporate purposes

This listing on the Hong Kong stock market will further strengthen ESTUN's technological research and development, global production capacity, and industrial ecosystem layout. It will consolidate its leading position in the domestic industrial robotics sector and accelerate its global expansion.

As a leading digital financial technology company, Futu, with an investor ecosystem of over 28 million and a comprehensive enterprise service system, is able to provide companies with end-to-end services throughout the pre-, mid-, and post-IPO process. These include a one-stop ESOP option management solution, Hong Kong and US IPO distribution, investor relations (IR) and public relations (PR), financial public relations services, international placement, secondary trading services, and other core offerings.

As of Q3 2025, six out of the top ten Hong Kong IPOs by fundraising amount were in collaboration with Futu. Nearly half of the Hong Kong listings in Q3 involved cooperation with Futu. On the Futubull platform during Q3, a total of 12 new stocks had subscription amounts exceeding HKD 100 billion. Futu's capabilities in US IPOs have drawn attention, with all US subscribing clients successfully allocated shares in several popular new stocks like Bullish, Figure, and Gemini.

As of Q3 2025, Futu's corporate service clientele reached 1,112 companies, providing IPO distribution and IR services to 561 enterprises. It has successfully assisted 358 companies such as Meituan, Kuaishou, Xiaomi, Baidu, KE Holdings, JD Health, and Bilibili in going public in Hong Kong and the US. A total of 804 ESOP clients have signed up cumulatively, and 1,300 listed companies are now hosted on the Futu platform.

In the future, Futu will fully leverage its resources and market influence to provide more professional and efficient services to a wider range of clients!

*Securities-related businesses such as IPO distribution are provided by licensed subsidiaries under Futu.

*Data source: Market value calculated based on the first day of listing.

*Data source: Futu's Q3 2025 earnings report.

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