In the wave of Chinese robotics companies listing on the Hong Kong Stock Exchange in 2024-2026, Han’s Robot and Huayan Robotics represent the established precision cobot segment rather than the humanoid frontier. Han’s Robot is a subsidiary of Han’s Laser, China’s largest laser equipment manufacturer, giving it access to precision manufacturing technology and financial resources that independent robotics startups cannot match. The HK IPO raised HK$1.37 billion ($176 million). Understanding what Han’s Robot and Huayan Robotics are, what they make, and why they listed in Hong Kong clarifies the structure of China’s broader robotics industry beyond the humanoid headlines.
Han’s Robot: Laser Technology Applied to Cobots
Han’s Robot was founded in 2016 as a subsidiary of Han’s Laser Technology, founded 1996, listed on Shenzhen Stock Exchange, China’s dominant laser equipment company with manufacturing relationships across electronics, automotive, and semiconductor industries. Han’s Robot produces collaborative robot arms using precision components manufactured by Han’s Laser’s supply chain. Revenue in 2024: RMB 310.4 million, up 77% year-over-year. This is genuine revenue growth, not a startup raising on projections, but an established manufacturer growing rapidly in the cobot market. The 77% growth rate in 2024 is higher than most Western cobot manufacturers posted.
Han’s Robot product lineup: Elfin series (6-axis cobots, 3-20 kg payload), Mars series (SCARA robots for electronics assembly), and Sirius series (dual-arm collaborative robot for complex assembly). Price range: CNY 60,000-200,000 ($8,200-$27,500). The Elfin-10 (10 kg payload, 1300 mm reach) at CNY 85,000 is the best-selling model. Precision: ±0.02 mm repeatability across the Elfin series, competitive with Universal Robots’ UR series at comparable price points.
HK IPO Details
Han’s Robot’s Hong Kong IPO in 2024 raised HK$1.37 billion, the largest robotics IPO on HK in 2024. Lead managers: CLSA and CICC. The IPO valued Han’s Robot at approximately HK$8-10 billion ($1-1.3 billion). Use of proceeds: manufacturing capacity expansion (40%), R&D for next-generation collaborative and humanoid robotics (35%), international market development (15%), working capital (10%). The explicit allocation to humanoid R&D signals Han’s Robot’s intent to enter the humanoid segment using its precision manufacturing expertise.
Huayan Robotics: Screw and Joint Component Specialist
Huayan Robotics is a different business from Han’s Robot, it manufactures precision screw assemblies, ball screws, and joint modules for robot manufacturing rather than finished robots. In a humanoid robot, precision screws and actuator joints account for 15-25% of total bill of materials. China’s robotics industry has historically been dependent on Japanese (THK, NSK) and German (Bosch Rexroth) precision screw suppliers. Huayan produces domestic alternatives, enabling Chinese robot manufacturers to reduce import dependency and component costs. This positions Huayan as infrastructure for the humanoid boom rather than a direct competitor in the finished robot market.
Revenue and Growth
Huayan reported RMB 180-220 million in revenue for 2024 (precise figures from IPO prospectus filing). Customer base includes Siasun, Han’s Robot, Estun, and other Chinese robot manufacturers, making Huayan a B2B component supplier whose growth is directly tied to the overall Chinese robotics production volume. As humanoid production scales from thousands to tens of thousands of units, Huayan’s precision screw and joint module supply will become a bottleneck or an enabler depending on its capacity expansion. The IPO funds are partially allocated to capacity expansion for this exact scenario.
Domestic Supply Chain Significance
Both Han’s Robot and Huayan listings on HK represent different aspects of China’s strategy to build a complete domestic robotics supply chain: Han’s Robot builds finished cobots and is preparing for humanoid components, Huayan builds the precision mechanical components that finished robot manufacturers need. As US export controls on semiconductor and precision manufacturing technology continue to affect Chinese robot manufacturers, domestic alternatives like Huayan become strategically essential rather than merely economically attractive.
Supply chain context: Top 40 China Robot Rankings 2025. Factory background: robot manufacturers in China.
Sources
- HK Stock Exchange: Han’s Robot IPO prospectus (2024)
- Caixin: Han’s Laser subsidiary Han’s Robot raises HK$1.37B (2024)
- Bloomberg: Chinese robotics companies flood Hong Kong IPO market (2024-2025)
- Huayan Robotics: IPO filing and annual report (2024)
