Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Shenzhen Dobot, a CICC-backed robotics unicorn, aims to raise up to HK$830M (~$107M) in the initial public offering in Hong Kong.</li>
<li>The offering is expected to be between HK$18.80 and HK$20.80, implying a market cap of ~HK$8B or ~$1B at the midpoint of the price range.  </li>
<li>Given Shenzhen Dobot’s long-term growth opportunities and high TAM, they are likely to get a premium valuation, and the company could trade like UBTech Robotics and Doosan Robotics.</li>
</ul>


Shenzhen Dobot, a CICC-backed robotics unicorn, aims to raise up to HK$830M (~$107M) in the initial public offering in Hong Kong.
The offering is expected to be between HK$18.80 and HK$20.80, implying a market cap of ~HK$8B or ~$1B at the midpoint of the price range.  
Given Shenzhen Dobot’s long-term growth opportunities and high TAM, they are likely to get a premium valuation, and the company could trade like UBTech Robotics and Doosan Robotics.


Shenzhen Dobot IPO (2432.HK): Global Offering, The Rising Star of Collaborative Robotics

<ul>
<li>Shenzhen Yuejiang Technology, more commonly known as just Dobot, updated its PHIP and plans to raise fresh capital for technology development for intelligent cobots.</li>
<li>The company did not disclose the proposed size and price range for the offering. Guotai Junan international and ABC International are leading the IPO.</li>
<li>I believe cobot industry can grow faster than third-party forecasts while the integration of AI into cobots will drive the development of smart cobots.</li>
</ul>


Shenzhen Yuejiang Technology, more commonly known as just Dobot, updated its PHIP and plans to raise fresh capital for technology development for intelligent cobots.
The company did not disclose the proposed size and price range for the offering. Guotai Junan international and ABC International are leading the IPO.
I believe cobot industry can grow faster than third-party forecasts while the integration of AI into cobots will drive the development of smart cobots.


Shenzhen Yuejiang Technology IPO: PHIP and Valuation Updates, High Valuations and A Higher TAM

<ul>
<li>Shenzhen Yuejiang Technology (Dobot), a Shenzhen-based cobot company with a diversified customer base globally, filed publicly for Hong Kong IPO.</li>
<li>The terms of the IPO were not disclosed. The robotics company plans to increase production capacity due to high demand in the coming years.</li>
<li>Dobot may be trading above the last round valuation of ~RMB3.5b, but I believe investors should focus on the company’s long-term growth prospects and rapidly growing TAM.</li>
</ul>


Shenzhen Yuejiang Technology (Dobot), a Shenzhen-based cobot company with a diversified customer base globally, filed publicly for Hong Kong IPO.
The terms of the IPO were not disclosed. The robotics company plans to increase production capacity due to high demand in the coming years.
Dobot may be trading above the last round valuation of ~RMB3.5b, but I believe investors should focus on the company’s long-term growth prospects and rapidly growing TAM.


Shenzhen Yuejiang Technology IPO: What’s The IPO Valuation? Long-Term Growth Prospects

<ul>
<li>Shenzhen Yuejiang Technology (Dobot), a China-based cobot company, filed for a Hong Kong IPO. Cobots are robots with operational robotic arms intended for collaboration within a shared space.</li>
<li>Dobot was backed by CICC, CRRC VC, Greenpine Growth, Qianhai Equity, and China Internet Investment Fund, among others. The company was founded in 2015 in Shenzhen, PRC.</li>
<li>The offering may attract significant investor interest after South Korea’s robotics company Doosan Robotics could raise ~$318M in October 2023.</li>
</ul>


Shenzhen Yuejiang Technology (Dobot), a China-based cobot company, filed for a Hong Kong IPO. Cobots are robots with operational robotic arms intended for collaboration within a shared space.
Dobot was backed by CICC, CRRC VC, Greenpine Growth, Qianhai Equity, and China Internet Investment Fund, among others. The company was founded in 2015 in Shenzhen, PRC.
The offering may attract significant investor interest after South Korea’s robotics company Doosan Robotics could raise ~$318M in October 2023.


Shenzhen Yuejiang Technology IPO Preview: Dobot Files to List IPO on Hong Kong Stock Exchange

<ul>
<li>Geek+, a Beijing-based warehouse robot maker, filed to list IPO on Hong Kong Stock Exchange. The AI &amp; robotics company plans to raise up to $200M.</li>
<li>Their last round was a $208M Series E1 in August 2022 that was led by Vertex Growth Fund, Intel Capital and B Capital China at a ~$2B post-money valuation.</li>
<li>Geek+ is growing faster than Doosan Robotics, UBTech Robotics and Shenzhen Dobot. The company will likely trade above their last private round valuation of ~$2B in August of 2022.</li>
</ul>


Geek+, a Beijing-based warehouse robot maker, filed to list IPO on Hong Kong Stock Exchange. The AI &amp; robotics company plans to raise up to $200M.
Their last round was a $208M Series E1 in August 2022 that was led by Vertex Growth Fund, Intel Capital and B Capital China at a ~$2B post-money valuation.
Geek+ is growing faster than Doosan Robotics, UBTech Robotics and Shenzhen Dobot. The company will likely trade above their last private round valuation of ~$2B in August of 2022.


Geek+ IPO Valuation Analysis: Exit Valuation Would Be Significantly Above Last Private Round of ~$2B

China

Dobot offers leading all-perceptual robotics solutions for manufacturing, commerce and higher education, developing intelligent robotics arms.

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Dobot (1860362D CH)

Shenzhen Dobot IPO (2432.HK): Global Offering, The Rising Star of Collaborative Robotics

Shenzhen Dobot, a #1 cobot company in China, plans to raise up to $100M in Hong Kong. In my insight, I focus on Global Offering, valuation analysis...

Andrei Zakharov

Shenzhen Yuejiang Technology IPO: PHIP and Valuation Updates, High Valuations and A Higher TAM

In my insight, I set a target valuation for Dobot, discuss a last updated PHIP, valuation comps and outline long-term revenue growth scenario under...

Andrei Zakharov

Shenzhen Yuejiang Technology IPO: What’s The IPO Valuation? Long-Term Growth Prospects

China’s Shenzhen Yuejiang Technology (Dobot) is set to raise fresh capital in an IPO in Hong Kong, and I expect the cobot company will price its...

Andrei Zakharov

Shenzhen Yuejiang Technology IPO Preview: Dobot Files to List IPO on Hong Kong Stock Exchange

Shenzhen Yuejiang Technology (Dobot) is seeking to raise capital in Hong Kong. The robotics company is a #1 cobot exporter in China in terms of...

Andrei Zakharov

Geek+ IPO Valuation Analysis: Exit Valuation Would Be Significantly Above Last Private Round of ~$2B

Geek+, an early mover in the AMR space with strong international presence, plans to raise fresh capital in Hong Kong IPO. In my insight, I discuss...

Andrei Zakharov

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