IPO News | 'The First Spatial Awareness Robotics Stock' Ludong Robotics Launches Roadshow, Aiming for Listing on May 11, Initial Subscription Amount HKD 6,060.51

Futu News reported on April 30th, $LDROBOT (01236.HK)$ The company announced the bookbuilding from April 30 to May 6, intending to globally offer approximately 33,333,340 shares, with an expected listing date of May 11.

Company Overview

LD Robot is one of the companies that owns a product portfolio of intelligent robotic visual perception technology, covering various smart robotic LiDAR products. The company's intelligent vision perception products are integrated into a wide range of complete robotic systems (such as vacuum cleaning robots, lawn mowing robots, room service robots, restaurant delivery robots, inspection robots, and logistics robots). Seizing the booming global market for smart lawn mowing robots, the company has efficiently developed and successfully mass-produced fully intelligent lawn mowing robot products.

Visual perception technology and products represent the first growth curve of the company’s business. The company believes that visual perception technology is one of the core technologies in the application and continuous development of intelligent robots. Therefore, it has mainly focused on the research, development, and design of intelligent robot visual perception technology and products. Smart lawn mowing robots are becoming the second growth curve of the company’s business. Based on years of accumulated visual perception technology and its self-developed universal robotics R&D platform, the company has gradually extended its business downstream, expanding its capabilities in the R&D, design, and mass production of complete intelligent robotic products.

Financial Summary

Ledorobotics' revenue increased from RMB 276.6 million in 2023 to RMB 467.3 million in 2024, and further grew to RMB 747.8 million in 2025, representing a compound annual growth rate (CAGR) of 64.4% from 2023 to 2025. In 2023, 2024, and 2025, the company recorded net losses of RMB 68.5 million, RMB 56.5 million, and RMB 62.5 million, respectively. During the same period, the company’s R&D expenditures were RMB 95.9 million, RMB 94.9 million, and RMB 121.1 million, respectively.

Use of Proceeds

In terms of fund-raising purposes, Ledorobotics expects the net proceeds from the global offering to be approximately HKD 827 million (assuming no exercise of the over-allotment option and based on the mid-point offer price of HKD 27). According to the prospectus, Ledorobotics plans to allocate the proceeds raised from the global offering as follows:

Approximately 45% will be used to enhance R&D in intelligent robot visual perception technology, aiming to upgrade AI functional algorithms and optimize the company’s visual perception products and intelligent robot offerings; around 10% will be allocated to brand building and international expansion to grow its overseas customer base; roughly 30% will be dedicated to improving production capacity and scaling up manufacturing capabilities to support large shipment volumes; about 5% will be assigned to exploring potential investment and acquisition opportunities to strengthen the company’s technological capabilities and achieve overseas expansion at scale; and approximately 10% will serve as working capital and for general corporate purposes.

Further reading:Ludong Robotics Prospectus

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