Chinese robotics manufacturer AgiBot is preparing for an initial public offering (IPO) in Hong Kong, having engaged Citic Securities as a sponsor, according to sources familiar with the matter. China International Capital Corporation (CICC) and Morgan Stanley are also reported to be serving as joint sponsors for the listing.

Headquartered in Shanghai, AgiBot took steps toward going public last year by restructuring from a limited liability company to a joint-stock limited firm, a prerequisite for IPO candidacy. The company is eyeing a valuation between HK$40 billion and HK$50 billion for the offering, which has been anticipated to take place this year.

AgiBot joins a growing list of Chinese firms targeting the Hong Kong stock market, alongside prominent companies such as online retailer Shein and optical transceiver manufacturer Zhongji Innolight. Zhongji Innolight’s IPO, expected to be the largest in Hong Kong in seven years, secured more than 30 cornerstone investors and aims to raise approximately US$88 billion, with a planned listing date of July 30.

Hong Kong’s IPO market has shown remarkable growth in 2026, reaching a five-year peak in both total funds raised and the number of new listings in the first half of the year. According to PwC Hong Kong, IPO proceeds surged 92 percent year-over-year to HK$210 billion, while new listings nearly doubled to 87.

In addition to its Hong Kong ambitions, AgiBot has been expanding its presence in the Chinese mainland stock market. Toward the end of last year, it acquired a controlling stake in Swanocr Advanced Materials, a company listed in Shanghai, in a transaction valued at more than 2 billion yuan (HK$2.3 billion). At the time, AgiBot dismissed speculation that the acquisition was a backdoor listing strategy.

AgiBot is among the fastest-growing robotics firms in China, having shipped 5,168 humanoid robots in 2025, surpassing competitors such as Unitree Robotics, which reported shipments of 4,200 units based on industry data, though Unitree’s own figures indicate over 5,500 units. The company plans to scale production significantly, aiming to ship 40,000 humanoid robots in 2026, according to co-president Jiang Qingsong.

Other Chinese robotics companies are also approaching public listings. Unitree recently received regulatory approval from Chinese securities authorities for a Shanghai IPO. The company recorded revenues of 1.7 billion yuan and adjusted profits of 591 million yuan last year, and it intends to raise approximately 4.2 billion yuan to support further research, development, and manufacturing.

Meanwhile, IPO applications from Leju Robotics and Deep Robotics have been accepted by stock exchanges in Shenzhen and Shanghai, respectively, signaling continued momentum for robotics firms seeking public capital in China.