Youai Zhihe Clears CSRC Filing, Aims to Be First Mobile Manipulator Robot Stock
On October 16, the China Securities Regulatory Commission published a filing notice for Hefei Youai Zhihe Robotics Co., Ltd. covering its overseas listing and full circulation of domestic unlisted shares.
The filing means Youai Zhihe has cleared a precondition for a Hong Kong Stock Exchange hearing and could become the “first mobile manipulator robot stock.” It is a key step before the exchange’s listing hearing.
Under the notice, the company plans to issue no more than 49,477,800 overseas-listed ordinary shares on the HKEX. Thirty-seven shareholders intend to convert 243,804,260 domestic unlisted shares into overseas-listed shares, achieving full circulation.
The prospectus shows Youai Zhihe was founded in 2017 and centers on mobile manipulator robots, serving semiconductors, lithium batteries, 3C, energy, and chemicals. It positions itself as a leader in scaled industrial embodied AI applications, with a “one brain, multiple forms” architecture for high-barrier industrial scenarios.
Youai Zhihe plans to list under Chapter 18C of the HKEX Listing Rules as a specialist technology company, with CICC as sole sponsor.
From 2023 to 2025, revenue was RMB 108 million, RMB 255 million, and RMB 340 million, respectively, a three-year CAGR of about 77.4%. Gross margin improved from 26.1% to 36.5% as product mix optimized.
By 2025 revenue, the company ranks first globally and in China among industrial mobile manipulator companies, and first in China for semiconductor robot solution applications. It has delivered more than 800 embodied AI projects.
Youai Zhihe’s repeat-purchase momentum remains strong while it adds new customers. In 2025, its customer repeat purchase rate exceeded 70%: 75% in semiconductors, 100% in lithium batteries, and 78% in 3C and manufacturing.
Customer retention has supported continuous growth. As of the latest practicable date, its products have won recognition from over 400 well-known customers, including more than 50 Fortune 500 companies.
By building a technology-scenario-product closed loop, the company has created a differentiated moat in high-barrier sectors such as semiconductors and energy chemicals.
Semiconductors are Youai Zhihe’s core strategic track. The company develops highly stable, clean, and precise mobile manipulator robots for demanding production environments, entering core processes such as wafer fabrication and packaging/testing and covering the full supply chain.
It serves more than ten domestic and international wafer fabs and has built benchmark projects in substrates, photomasks, and packaging/testing. Its robots cover the entire chain from raw materials and wafer fabrication to packaging and testing.
In high-risk energy settings such as chemicals, power, and coal, its multi-form robots provide 24/7 intelligent inspection and emergency response, replacing humans in hazardous work. Its business spans upstream materials and power to downstream metallurgy, chemicals, and industrial utilities, with close partnerships with leading grid and energy groups.
Industrial deployments in turn drive technical iteration. Youai Zhihe has built “one brain, multiple forms” embodied intelligence, where a highly generalizable industrial model drives multi-form robots for scaled deployment in industrial logistics and inspection/O&M.
On the product side, Youai Zhihe has formed a “specialized + general” matrix. OW, ATS, and ARIS series specialized embodied robots suit structured industrial scenarios such as semiconductors and energy chemicals, enabling stable and efficient operation.
For future pan-industrial scenarios, the company has introduced the scalable model FabriX (Zhihe) and the “Tianyan” series industrial native humanoid robot Xifeng, aiming to break the “impossible triangle” of generalization, efficiency, and reliability. This product strategy aims to expand the boundaries of embodied AI in industry.
In R&D, Youai Zhihe maintains sustained investment. Its founding team comes from Xi’an Jiaotong University’s robotics laboratory. Cumulative R&D spending in the reporting period exceeded RMB 200 million, with ongoing iteration of industrial large models and robot hardware and software.
As a national “little giant” specialized and innovative enterprise, it has accumulated more than 300 core intellectual property rights and leads or participates in multiple national research projects.