- Warehouse robotics maker begins trading on HKEX main board as China’s automation sector attracts investor attention
- Company targets global expansion and technology upgrades with fresh capital
Galaxis Robotics, a Zhejiang-based logistics robot maker, began trading in Hong Kong on Monday after raising HK$613 million ($88.9 million) in an initial public offering (IPO), marking a milestone for China’s fast-growing warehouse automation industry as manufacturers accelerate investment in intelligent logistics systems.
The company listed on the Hong Kong Stock Exchange’s main board under the stock code 2729.HK, selling 36.8 million H shares in a global offering.
Shares traded at HK$29.90 by midday, up 80% from the offering price of HK$16.66, giving the firm a market capitalization of HK$12.79 billion.
Headquartered in Jiaxing’s Nanhu district, Galaxis Robotics was founded in 2014 by a husband-and-wife team holding doctoral degrees from Massachusetts Institute of Technology and Cornell University.
The company positions itself as Hong Kong’s first listed “full-stack” intelligent intralogistics robotics provider, specializing in integrating hardware and software across warehouse operations.
Proceeds from the IPO will be used to upgrade core robot product lines, advance foundational technologies, expand production capacity and support overseas market development, according to a company filing.
Galaxis focuses on automation within warehouses and factories, covering storage, sorting and material handling — three key stages of modern logistics operations.
The company said it has developed proprietary technologies including high-density storage algorithms for four-way shuttle robots and precision navigation systems for ultra-narrow-aisle autonomous forklifts, enabling a full-scenario robotics portfolio.
Its products have been adopted by major industrial and logistics clients including SF Holding, CATL, BYD and OPPO, with operations spanning 16 countries and regions. The firm also said it ranks first domestically in the niche market for ultra-narrow-aisle autonomous mobile robots.
The listing makes Galaxis the first company from Jiaxing to go public in Hong Kong this year — and the second ever — underscoring growing investor interest in Chinese industrial automation firms seeking overseas capital markets amid rising demand for smarter supply chains.
