Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

MegaRobo Technologies / Equity Capital Markets

<ul>
<li>MegaRobo Technologies, AI &amp; robotics unicorn with focus on lab automation in life sciences and intelligent manufacturing, files to list IPO on Hong Kong Stock Exchange.</li>
<li>Founder led, AI native company was backed by Sinovation Ventures, Goldman Sachs, Asia Investment Capital, Robert Bosch Venture Capital, GGV Capital, and Joy Capital, among others.</li>
<li>The business is growing fast and increases the number of use cases across new verticals. However, negative free cash flows and operating losses are a headwind.</li>
</ul>


MegaRobo Technologies, AI &amp; robotics unicorn with focus on lab automation in life sciences and intelligent manufacturing, files to list IPO on Hong Kong Stock Exchange.
Founder led, AI native company was backed by Sinovation Ventures, Goldman Sachs, Asia Investment Capital, Robert Bosch Venture Capital, GGV Capital, and Joy Capital, among others.
The business is growing fast and increases the number of use cases across new verticals. However, negative free cash flows and operating losses are a headwind.


MegaRobo Technologies IPO Preview: AI-Driven Robotics Unicorn With Strong IP Moat In Automation

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, the previous week was another busy week for listings, with mixed results.</li>
<li>On the placements front, we looked at the possible placements for <a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> and <a href="https://www.smartkarma.com/entities/state-bank-of-india" target="_blank" data-smartkarma-citation="entities:160:1" rel="noopener">State Bank Of India (SBIN IN).</a>
</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, the previous week was another busy week for listings, with mixed results.
On the placements front, we looked at the possible placements for Meituan (3690 HK) and State Bank Of India (SBIN IN).



ECM Weekly (14 July 2025) - Meituan, SBI, Kokusai, NTT, Daehan, Anthem, SICC, CIG, FWD

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/megarobo-technologies-co-ltd" target="_blank" data-smartkarma-citation="entities:36471:1" rel="noopener">MegaRobo Technologies (MRT HK)</a> is looking to raise at least US$300m in its upcoming Hong Kong IPO. The deal will be run by Morgan Stanley, Huatai, Deutsche Bank, CCB International.</li>
<li>It is a leading provider of autonomous agents in robotic applications in China, dedicated to improving productivity and driving innovation for businesses across both laboratory and manufacturing settings.</li>
<li>It serves a diversified customer base with over 880 customers. Key account customers newly acquired in 2022, had a repurchase rate of 74%, and a revenue retention rate of 115%.</li>
</ul>



MegaRobo Technologies (MRT HK) is looking to raise at least US$300m in its upcoming Hong Kong IPO. The deal will be run by Morgan Stanley, Huatai, Deutsche Bank, CCB International.
It is a leading provider of autonomous agents in robotic applications in China, dedicated to improving productivity and driving innovation for businesses across both laboratory and manufacturing settings.
It serves a diversified customer base with over 880 customers. Key account customers newly acquired in 2022, had a repurchase rate of 74%, and a revenue retention rate of 115%.


Algosun Global

Private Capital Markets

MegaRobo Technologies / Private Capital Markets

<ul>
<li>MegaRobo is a leader in life science automation, founded in 2016 by CEO Daniel Huang and CMO Zhixin Qiao. The company reached a unicorn valuation of $1B+ in 2022. </li>
<li>MegaRobo wants to improve the efficiency of life sciences research by using robotics and AI technology. In June 2022, AI and robotics unicorn closed the $300M Series C round.    </li>
<li>Using AI in R&amp;D drug discovery is gaining traction. The global lab automation market is a ~$5B opportunity and is expected to reach ~$9.4B by 2030. </li>
</ul>


MegaRobo is a leader in life science automation, founded in 2016 by CEO Daniel Huang and CMO Zhixin Qiao. The company reached a unicorn valuation of $1B+ in 2022. 
MegaRobo wants to improve the efficiency of life sciences research by using robotics and AI technology. In June 2022, AI and robotics unicorn closed the $300M Series C round.    
Using AI in R&amp;D drug discovery is gaining traction. The global lab automation market is a ~$5B opportunity and is expected to reach ~$9.4B by 2030. 


MegaRobo: China-Based Disruptor in Life Science Automation

China

MegaRobo Technologies Co., Ltd. develops robots. The company focuses on providing lightweight intelligent collaborative robots and automation solutions. MegaRobo Technologies also provides maintenance services.

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MegaRobo Technologies (MRT HK)

MegaRobo Technologies IPO Preview: AI-Driven Robotics Unicorn With Strong IP Moat In Automation

MegaRobo Technologies, AI & robotics unicorn, files for IPO in Hong Kong with strong backing but faces challenges with negative cash flows and...

Andrei Zakharov

ECM Weekly (14 July 2025) - Meituan, SBI, Kokusai, NTT, Daehan, Anthem, SICC, CIG, FWD

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

MegaRobo Pre-IPO Tearsheet

MegaRobo Technologies is looking to raise at least US$300m in its upcoming Hong Kong IPO. The deal will be run by Morgan Stanley, Huatai, Deutsche...

Nicholas Tan

MegaRobo: China-Based Disruptor in Life Science Automation

VC-backed MegaRobo is uniquely positioned to benefit from the growth of both the life science automation market as well as AI healthcare market. We...

Andrei Zakharov

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MegaRobo Technologies IPO Preview: AI-Driven Robotics Unicorn With Strong IP Moat In Automation

​MegaRobo Technologies, AI & robotics unicorn, files for IPO in Hong Kong with strong backing but faces challenges with negative cash flows and...

Andrei Zakharov

ECM Weekly (14 July 2025) - Meituan, SBI, Kokusai, NTT, Daehan, Anthem, SICC, CIG, FWD

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

MegaRobo Pre-IPO Tearsheet

MegaRobo Technologies is looking to raise at least US$300m in its upcoming Hong Kong IPO. The deal will be run by Morgan Stanley, Huatai, Deutsche...

Nicholas Tan

MegaRobo: China-Based Disruptor in Life Science Automation

VC-backed MegaRobo is uniquely positioned to benefit from the growth of both the life science automation market as well as AI healthcare market. We...

Andrei Zakharov

MegaRobo Technologies, AI & robotics unicorn, files for IPO in Hong Kong with strong backing but faces challenges with negative cash flows and...