Udi Robotics has launched its public offering, planning to raise 800 million yuan, get listed on September 9, with annual revenue of 300 million yuan and an annual loss of 100 million yuan.

Udi Robotics (Wuxi) Co., Ltd. (referred to as "Udi Robotics", stock code: "03231") has recently launched its prospectus and is scheduled to be listed on the Hong Kong Stock Exchange on September 9, 2026.

The offering price range of Udi Robotics is from HK$14.45 to HK$19.55, with 45 million shares offered, raising a maximum of HK$880 million.

The cornerstone investors of Udi Robotics are SensePower under SenseTime and CYGG under 58.com respectively, among which SenseTime subscribes for 2 million US dollars and 58.com subscribes for 1 million US dollars, both with a very small subscription proportion.

Annual revenue of 320 million yuan, loss of 110 million yuan

Founded in 2013, Udi Robotics has commercialized its technology in two main industry sectors: the robotics and automation sector, through Udi Robotics' commercial service robot products, robot modules, and related services (including Robot as a Service (RaaS) and leasing arrangements); and the new generation information technology sector, through Udi Robotics' industry-applied AI vision model solution.

The above two business lines are both supported by a shared comprehensive technical framework independently developed by Udi Robotics, but their commercialization is realized through different products, business models and application scenarios respectively.

Udi Robotics has established a comprehensive technical framework, including core technologies such as vision models, robot decision-making and planning, multi-sensor fusion, positioning and navigation, chassis and motion control, robot field control systems, cloud-based Vision Language Model ("VLM"), cloud data closed-loop platform and cloud IoT device ecosystem.

Udi Robotics has also developed applied technologies to transform these core technologies into deployable robot products and AI vision model solutions, including cloud-based operation and maintenance, wheeled robot applications, wheeled-arm robots and manipulator applications, as well as deployment of AI vision models in non-robot industries. Udi Robotics' technologies operate under a cloud-edge collaborative architecture. The edge-side system performs real-time functions such as visual perception, positioning, navigation, motion control, and image and video analysis, while the cloud infrastructure supports data management, model training and optimization, task coordination, remote management, and (where applicable) higher-level reasoning.

According to the prospectus, Udi Robotics' revenue in 2023, 2024 and 2025 was 240 million yuan, 267 million yuan and 318 million yuan respectively; gross profit was 16.91 million yuan, 38.21 million yuan and 44.27 million yuan respectively; losses during the period were 251 million yuan, 151 million yuan and 111 million yuan respectively.

Udi Robotics' revenue in the first quarter of 2026 was 76.51 million yuan, gross profit was 8.6 million yuan, and loss during the period was 31.22 million yuan.

Udi Robotics' adjusted net losses in 2023, 2024 and 2025 were 251 million yuan, 127 million yuan and 105 million yuan respectively; Udi Robotics' adjusted net loss in the first quarter of 2026 was 26.89 million yuan.

As of March 31, 2026, Udi Robotics held cash and cash equivalents of 64.4 million yuan.

Huazhu Investment and GreenTree Inn are shareholders

The executive directors of Udi Robotics are Lu Ying, Gu Zhenjiang, Ms. Liu Wei (formerly known as Liu Wei) and Ms. Niu Yue respectively; the non-executive director is Mr. Zhang Yufu (formerly known as Zhang Ting), and the independent non-executive directors are Zou Bo, Guo Huaijiang and Zhang Yimin respectively.

Lu Ying is the co-founder, chairman and CEO of the company, and Gu Zhenjiang is the co-founder, president and general manager.

Before the IPO, Lu Ying held 3.64% of the shares, Chengdu Udi held 14.32%, Yingtian Platform held 6.08%, Gu Zhenjiang held 4.32%, Liu Dazhi held 2.91%, Luo Pei held 1.22%, Xia Ge held 0.91%, collectively controlling 33.4% of the company's equity.

Junlian Chengye holds 8.02%, Lazas holds 7.9%, Hainan Yunfeng holds 6.4%, Jiujiang Udi holds 5.89%, Xinhengji Investment holds 5.49%, Zhongbang Hongxiang holds 3.97%, Chongqing Guanda holds 2.87%, Huajian Chengding holds 2.49%, Wuxi Shangwei holds 2.25%, Guiyang Kechuangcheng holds 2.06%;

Wuzhong Suodao holds 2%, Chaohu High-quality Development holds 1.68%, Wuxi Fengling holds 1.5%, Jiaxing Suodao holds 1.44%, Xijiang Innovation holds 1.39%, Chengdu Ceyuan holds 1.32%, Wuba Qianmo holds 1.25%, Yuehu Industrial Fund holds 1.18%, Beijing BTG Hotels (Group) holds 1.07%;

Yinfeng Rongjin holds 0.98%, Wuxi Xinzhi holds 0.9%, Zhou Liang holds 0.73%, Yishang Equity holds 0.71%, Xunfei Yunchuang holds 0.68%, Shen Ge Fei and Pernod Ricard each hold 0.51%, Qianhai Shengyangsheng holds 0.42%, Huazhu Investment and GreenTree Inn each hold 0.32%, Zhongjiang High-Tech holds 0.09%.

Lu Ying holds 3.25%, Chengdu Udi holds 12.77%, Yingtian Platform holds 5.43%, Gu Zhenjiang holds 3.85%, Liu Dazhi holds 2.59%, Luo Pei holds 1.08%, Xia Ge holds 0.82%, collectively controlling 29.79% of the company's equity.

Junlian Chengye holds 7.15%, Lazas holds 7.05%, Hainan Yunfeng holds 5.7%, Jiujiang Udi holds 5.25%, Xinhengji Investment holds 4.89%, Zhongbang Hongxiang holds 3.54%, Chongqing Guanda holds 2.56%, Huajian Chengding holds 2.22%, Wuxi Shangwei holds 2.01%, Guiyang Kechuangcheng holds 1.84%;

Wuzhong Suodao holds 1.79%, Chaohu High-quality Development holds 1.5%, Wuxi Fengling holds 1.33%, Jiaxing Suodao holds 1.29%, Xijiang Innovation holds 1.24%, Chengdu Ceyuan holds 1.18%, Wuba Qianmo holds 1.11%, Yuehu Industrial Fund holds 1.05%, Beijing BTG Hotels (Group) holds 0.95%, Yinfeng Rongjin holds 0.87%;

Wuxi Xinzhi holds 0.8%, Zhou Liang holds 0.66%, Yishang Equity holds 0.63%, Xunfei Yunchuang holds 0.61%, Shen Ge Fei and Pernod Ricard each hold 0.46%;

Qianhai Shengyangsheng holds 0.37%, Huazhu Investment and GreenTree Inn each hold 0.29%, Zhongjiang High-Tech holds 0.08%, Ms. Shao Jing holds 0.07%, Deyang Kaizhou holds 0.05%, Ms. Zhang Min holds 0.04%, Cai Yi holds 0.03%, Ms. Dang Bin holds 0.03%.

This article is from the WeChat Official Account "Lei Di" (ID: touchweb), written by Lei Jianping, published with authorization from 36Kr.