OneRobotics passes the HKEX hearing: Set to become the "first stock in AI embodied home robots"

According to IPO Early Knowledge, Woan Robotics (Shenzhen) Co., Ltd. (hereinafter referred to as "Woan Robotics") has recently passed the Hong Kong Stock Exchange's listing hearing and disclosed the post - hearing document set on December 16. Guotai Haitong and Huatai International serve as joint sponsors.

This means that Woan Robotics is expected to officially become the "first stock in the AI embodied home robot sector" soon.

As a global provider of AI embodied home robot systems, Woan Robotics is committed to building an ecosystem centered around intelligent home robot products.

As a company that has launched and commercialized multiple first - of - its - kind products in the AI embodied home robot industry, Woan Robotics is continuously promoting the implementation of embodied intelligence technology in home scenarios. Its product portfolio includes enhanced execution robots and perception and decision - making systems, which can be applied in scenarios such as sports training, emotional companionship, intelligent control, housework, smart home management, elderly care, safety protection, and energy management, achieving seamless coverage of all categories in home scenarios.

Woan Robotics' AI embodied home robot system integrates artificial intelligence and robot technology to achieve autonomous learning and intelligent decision - making. The system mimics human behavioral characteristics, including hands, feet, eyes, skin, and the brain, and realizes real - time environmental perception, multi - functional device collaboration, and edge intelligent processing through a decision - making intelligent center.

According to a report by Frost & Sullivan, Woan Robotics is the only company in the world so far that has comprehensively deployed AI embodied home robot system products and can achieve intelligent linkage of multiple products in the ecosystem. Calculated by retail sales in 2024, Woan Robotics is the world's largest provider of AI embodied home robot systems, with a market share of 11.9%.

It is worth mentioning that since 2025, the world's first AI tennis robot Acemate and the world's first locally deployed large - model AI companion robot independently developed by Woan Robotics have been well - received by the market as soon as they were launched.

The world's first AI tennis robot Acemate

Among them, Acemate, as the world's first AI tennis robot, was included in the "Time" magazine's list of the best inventions of 2025 and is the only sports robot on the list. It has also exceeded the crowdfunding target by 76 times, with a total crowdfunding amount of over 16.5 million overseas. Acemate can make autonomous decisions through AI algorithms, achieving accurate ball catching, returning, and playing, bringing a sense of rounds and rhythm comparable to playing against a real person.

The AI companion robot Kata Friends, as the world's first locally deployed large - model AI pet robot, won two official IFA innovation awards - "Best in IFA Next" and "Best in Emerging Tech" after its launch at the IFA Berlin in September 2025. As a home pet companion robot capable of independent thinking and movement, Kata Friends aims to provide an alternative to living pets for families seeking zero - burden emotional companionship. It builds a multi - modal perception system through a visual recognition system, an auditory system, and tactile sensors, and realizes in - depth companionship and interaction with users through an embedded large model driven by edge computing and an emotional interaction engine.

AI companion robot Kata Friends

According to the prospectus, Woan Robotics plans to launch its first humanoid home robot H1 in January 2026. As a humanoid housework robot, H1 integrates technologies such as AI machine vision, robot positioning, and environmental modeling, and can handle complex household affairs that existing AI embodied home robot systems cannot effectively deal with, such as clothes sorting, post - meal cleaning and storage, and meal preparation assistance.

Of course, the ability to continuously create disruptive and innovative products is due to Woan Robotics' firm R & D investment and technological strength. As of December 11, 2025, Woan Robotics has more than 310 registered patents globally, including 56 invention patents. As of the same date, Woan Robotics' R & D team consists of 278 members, accounting for 43.4% of its total employees (more than 50% if assembly line workers are excluded). From 2022 to 2024, Woan Robotics' R & D expenses accounted for about 20% of its revenue.

Since its establishment, Woan Robotics has carried out a global strategic layout, and its products are now sold in more than 90 countries and regions around the world. From 2022 to 2024 and in the first half of this year, the combined revenue from the Japanese, European, and North American markets accounted for 95.5%, 95.6%, 95.0%, and 96.6% of its total revenue respectively. Meanwhile, from 2022 to 2024, the compound annual growth rates of the retail values generated by Woan Robotics' sales in the Japanese, European, and North American markets were 44.7%, 68.1%, and 42.5% respectively.

In terms of financial data. From 2022 to 2024, Woan Robotics' revenues were 275 million yuan, 457 million yuan, and 610 million yuan respectively, with a compound annual growth rate of 49.0%. In the first half of this year, Woan Robotics' revenue increased by more than 44% year - on - year to 396 million yuan.

From 2022 to 2024 and in the first half of this year, Woan Robotics' gross profit margins were 34.3%, 50.4%, 51.7%, and 54.2% respectively, showing a continuous upward trend.

It is worth noting that Woan Robotics achieved positive adjusted EBITDA as early as 2023. The year - on - year increase in adjusted EBITDA in 2024 compared to 2023 was 348.6%. This year, the adjusted EBITDA was 54.14 million yuan, more than twice the full - year adjusted EBITDA in 2024.

Since its establishment, Woan Robotics has received investments from well - known institutions such as XbotPark and Brizan Ventures (both backed by Professor Li Zexiang, Professor Gao Bingqiang, and Professor Gan Jie), Hillhouse Capital, Source Code Capital, Fortune Capital, SDIC Innovation, and Ventech.

Woan Robotics stated in its prospectus that the net proceeds from the IPO will be mainly used to continuously improve R & D capabilities to further develop key technologies and products related to its AI embodied home robot systems; expand sales channels and regional coverage and enhance global brand awareness; and be used as general working capital and for corporate purposes.

According to a report by Frost & Sullivan, the market size of the global AI embodied home robot system industry has increased from 2.2 billion yuan in 2022 to 5.9 billion yuan in 2024 and is expected to reach 70.7 billion yuan in 2029 with a compound annual growth rate of 64.2%. The market penetration rate has also increased from 1.0% in 2022 to 2.3% in 2024 and is expected to increase significantly to 16.2% in 2029.

This article is from the WeChat public account "IPO Early Knowledge" (ID: ipozaozhidao), author: Stone Jin, published by 36Kr with authorization.