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Hai Robotics Files for Hong Kong IPO: Cumulative Losses of 5.226 Billion Yuan Over 9 Years, Redeemable Liabilities Exceed 5.2 Billion Yuan

Hai Robotics has submitted a prospectus for a Hong Kong IPO. From 2023 to 2025, revenue posted a compound annual growth rate of 58.09%, and in 2025 the company's global ACR market share exceeded 30% by revenue and by shipment volume. As of the end of June 2026, cumulative losses since the company's founding totaled 5.226 billion yuan, with losses of 3.523 billion yuan over the three and a half years of the reporting period; period expenses fell from 114.7% to 62.3% of revenue. Over the same period, redeemable liabilities rose to 5.254 billion yuan; if the IPO does not proceed smoothly, equity redemption obligations could trigger liquidity pressure.

Part of the event: Hai Robotics Files for Hong Kong IPO, Cumulative Losses Reach RMB 5.226 Billion

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