New IPO News | Lai Fu Harmonic, a provider of core precision transmission components for robots, has launched its public offering and plans to list on June 30, with a minimum subscription amount of HK$8,636.22 per lot.

Futu News, June 22:$LAIFUAL (03952.HK)$An announcement was issued stating that the public offering will run from June 22 to June 25. The company intends to globally offer approximately 13.4419 million shares and expects to list on June 30.

Company Overview

The company is a Chinese provider of core precision transmission components for robots. Driven by the accelerated adoption of robotics, demand for precision transmission solutions is continuously growing, enabling robots to achieve precise motion and interaction. The company offers a product portfolio covering harmonic drives, joint modules, robotic arms, and even automated workstations. Its products are primarily used in humanoid and industrial robots.

The company's competitive advantage stems from its expertise in harmonic drives—a key technical component in precision transmission solutions—and its strong in-house R&D capabilities. According to a CIC Consulting report, based on 2025 shipment volume, the company ranks second among Chinese providers of harmonic drives for robots, with a market share of 21.4%. By revenue, it also ranks second, with a market share of 12.9%.

Financial Summary

The company’s revenue for 2023, 2024, and 2025 was RMB 94.5 million, RMB 107.7 million, and RMB 260.9 million, respectively. Gross profit for 2023, 2024, and 2025 was RMB 27.9 million, RMB 25.9 million, and RMB 66.9 million, respectively. The company’s gross margin increased from 24.1% in 2024 to 25.6% in 2025.

Use of Proceeds

Regarding the use of proceeds, Lafert Harmonic expects the net proceeds from the global offering to be approximately HK$1.003 billion (assuming the over-allotment option is not exercised and calculated at an issue price of HK$81.25 per share). According to the prospectus, Lafert Harmonic intends to allocate the net proceeds from the global offering as follows:

Approximately 55.0% of the net proceeds will be used over the next three years for the expansion of production facilities, including procurement of related equipment and hiring of production personnel. Approximately 20.0% of the net proceeds will be allocated to enhance our research and development capabilities, enriching our product portfolio—particularly harmonic reducers—to expand into broader application scenarios. Approximately 5.0% of the net proceeds will be used to expand our overseas sales network. Approximately 10.0% of the net proceeds will be dedicated to strategic investments or acquisitions of high-quality targets across the industry value chain in both domestic and international markets, to strengthen our competitiveness and market share. The remaining approximately 10.0% of the net proceeds will be used for working capital and other general corporate purposes.

Further reading:Lafert Harmonic Prospectus

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