Fengjiang Intelligence, founded by WU Di, former chief scientist of DJI, is gearing up for a Hong Kong IPO: It reported revenues of 360 million yuan and a net loss of 150 million yuan in the first half of the year. Tencent and Dongfeng are among its shareholders.

FJD, a provider of robot solutions and related enabling technologies (also known as "Fengjiang Intelligence"), recently submitted its prospectus and is preparing to list on the Hong Kong Stock Exchange.

Before submitting the prospectus, FJD had raised funds multiple times, with a total amount reaching 1.176 billion yuan.

In October 2020, FJD completed a financing of 400 million yuan, with a post - investment valuation of 2 billion yuan and a per - share cost of 1.8688 yuan. In November 2021, it completed a Series B financing of 70 million US dollars, with a post - investment valuation of 624 million US dollars and a per - share cost of 0.4913 US dollars. In November 2023, it completed a Series B - 1 financing of 39 million US dollars, with a post - investment valuation of 663 million US dollars and a per - share cost of 0.4913 US dollars.

The founder of FJD is Dr. Wu Di, who is 46 years old and is responsible for the overall management of FJD Group's business operations, strategy, and corporate development.

Before founding FJD Group, Dr. Wu started his career in Sweden by serving as the Vice President of System Engineering at Coresonic AB. Later, he returned to China and served as the System Director at Spreadtrum Communications (Shanghai) Co., Ltd. from June 2012 to September 2013. From October 2013 to March 2016, Dr. Wu worked as a professor at Soochow University. From June 2016 to June 2019, he served as the Chief Scientist at Zhixiang Technology Co., Ltd. and its affiliated company, DJI Group.

Revenue of 358 million yuan and a loss of 151 million yuan in the first half of the year

FJD was established in December 2017 and is a provider of robot solutions and related enabling technologies. It releases human potential by building digital models for the real world and bringing automated transformation to key workflows in agriculture and animal husbandry, construction, property management, etc.

In 2021, FJD launched the 3D excavator guidance system, which is compatible with various types of construction machinery and can provide precise operations in various scenarios, from land preparation, sowing to spraying and harvesting. It also launched the Svecon pushing robot, which provides easy - to - operate unmanned pushing services.

In 2022, FJD launched the 3D LiDAR scanner S1, a high - performance 3D LiDAR scanner; the lawn mower Z42P and the unmanned tower crane system; and the 3D modeling instrument, an all - in - one medium - format aerial camera. In 2025, FJD launched two independent line - marking robot models, namely Paintmaster Pro and Paintmaster Mini.

FJD provides robots for cleaning manure piles to some European pastures. Dr. Wu Di once said that they had provided pushing robots to some European pastures. He and the pasture staff were on - site to debug the equipment, and the smell of cow dung on them didn't fade away for two weeks. He summarized that FJD hopes to become "a robot company that makes these hard - working workers feel warm."

The prospectus shows that FJD's revenues in 2022, 2023, and 2024 were 500 million yuan, 530 million yuan, and 570 million yuan respectively; the gross profits were 146 million yuan, 284 million yuan, and 367 million yuan respectively; and the losses during the period were 333 million yuan, 471 million yuan, and 334 million yuan respectively.

In the first half of 2025, FJD's revenue was 358 million yuan, a 49.2% increase compared with 240 million yuan in the same period of the previous year; the loss during the period was 151 million yuan, compared with a loss of 198 million yuan in the same period of the previous year.

As of June 30, 2025, FJD held cash and cash equivalents worth 179 million yuan.

Backed by Tencent and Dongfeng

FJD's executive directors are Dr. Wu Di, Ms. Zhang Qi, and Qin Shuo; the independent non - executive directors are He Shunhua, Debierre Félix, and Ms. Ma Yuanyuan.

Dr. Wu Di is the founder, chairman of the board, and CEO of the company, and Ms. Zhang Qi is the CFO of the company.

Before the IPO, the single largest shareholder of FJD (including Dr. Wu and Simple Mindset) is entitled to exercise approximately 23.59% of the company's voting rights, including approximately 9.77% of the voting rights of the shares held by Simple Mindset, a company wholly - owned by Dr. Wu, and approximately 13.81% of the voting rights of the shares held by the proxy grantors under the proxy voting agreement and through Simple Mindset.

Tencent holds 16.47% of the shares; the Greater Bay Area Common Home holds 8.11% through GBA Equity Fund II LPF, 4% through GBA Equity Fund I LPF, 1.74% through Poly Platinum, and 0.6% through Dawanqu SPC (acting on behalf of GBA Robotics SP), with a total shareholding of 14.45%.

Xinzhifeng, a subsidiary of Dongfeng, holds 11.26% of the shares, Zhifeng holds 9.03%, Linden Tech I holds 4.74%, Zhuojia Capital holds 3.56%, 1.8 Meters holds 2.88%, Suzhou Paiyi holds 2.35%, Light Source Capital holds 2.26%, and Shenzhen Capital Group holds 1.98%.

Loyal Best Investment holds 1.66% of the shares, Dazhong Transportation holds 1.59%, SZU IV holds 0.98%, Weirun holds 0.85%, Xinhui Construction Technology Co., Ltd. holds 0.75%, Jinhui holds 0.49%, Avion Team holds 0.45%, Primus Klimontovich holds 0.38%, and Chuangke Venture Capital Fund Co., Ltd. holds 0.23%.

This article is from the WeChat public account “Leidi” (ID: touchweb), author: Lei Jianping, published by 36Kr with authorization.