Xian Gong Intelligence Officially Lists on Hong Kong Stock Exchange, Becoming the ‘First Robot Brain Stock’ in Hong Kong Stocks

On June 24, Xian Gong Intelligent (06106.HK) was officially listed on the main board of the Hong Kong Stock Exchange, becoming the first “robot brain” stock in the Hong Kong stock market.

For this IPO, Xian Gong Intelligent offered a total of 10,497,300 shares globally (before the greenshoe), with 2,099,500 shares available for public offering after triggering the clawback mechanism, and 8,397,800 shares for international placement. The per-share price was set at 101.6 Hong Kong dollars, with a pre-greenshoe offering size of 1.067 billion Hong Kong dollars and an IPO market value of 11.227 billion Hong Kong dollars.

On its first day of listing, Xian Gong Intelligent’s stock opened with a surge of over 30%, reflecting significant market enthusiasm.

It is reported that during the subscription phase, Xian Gong Intelligent attracted extraordinary attention from the capital market—eight cornerstone investors collectively subscribed for 462 million Hong Kong dollars, accounting for 43.34% of the offering. Among them, HHLRA, under Hillhouse, acted as the lead cornerstone investor, subscribing for 118 million Hong Kong dollars, while prominent institutions such as Yuanbao, 3W, GF Fund, and Ruihua Investment also participated.

Founded in 2020, Xian Gong Intelligent has established an unshakeable market position in just a few years, leveraging its core product, the “robot brain” (i.e., robot controller).

According to data from CIC Consulting, from 2023 to 2025, Xian Gong Intelligent’s robot controllers ranked first globally in sales for three consecutive years, with its global market share rising to 25%. In the Chinese market, its controller market share reached as high as 45.2%. On the revenue front, Xian Gong Intelligent’s income grew from 249 million yuan in 2023 to 442 million yuan in 2025, achieving a compound annual growth rate of 33.2%.

However, Xian Gong Intelligent’s true moat lies in its “data flywheel.”

Over the past few years, Xian Gong Intelligent has adhered to a real-machine data strategy, continuously accumulating cross-scenario, multi-task, and multi-entity data assets through large-scale robot deployment and real-world application scenarios. Today, robots equipped with Xian Gong Intelligent’s brain are widely used in over 1,000 factories across more than 20 industries.

This large-scale deployment has generated strong customer stickiness, a vast base of benchmark clients, and high repurchase rates. Leveraging this, Xian Gong Intelligent has built a data flywheel system of “deployment → data feedback → closed-loop training → model iteration → expanded deployment.”

This cross-scenario, multi-task, and multi-entity data asset, accumulated in real production environments, has constructed a scalable data moat for Xian Gong Intelligent that is difficult for latecomers to replicate.