The Chinese robotics company sold 50 million H shares at HK$21.60 each, giving it a listing market capitalization of approximately HK$8 billion, or $1.02 billion. The shares opened at HK$22.48, 4.1% above the offer price.
Direct Drive Tech primarily sells robotic actuator modules, including direct-drive power systems and joint modules for consumer, industrial and embodied-intelligence robots. It also produces complete wheel-legged robots, including the Xingtian, TITA and modular D1 platforms.
The company generated RMB281.7 million in revenue during 2025, an increase of 253% from the previous year, according to figures drawn from its prospectus. Its adjusted net loss was RMB43.25 million. The reported statutory loss of RMB881 million included RMB770 million associated with changes in the carrying value of redeemable liabilities.
Direct Drive Tech reports that it shipped approximately 8.5 million consumer robotic direct-drive actuator modules in 2025. It claims a 61.1% share of China’s consumer direct-drive actuator-module market by revenue and an 18.6% share of the country’s dual-wheel-legged robot market. These are company-reported figures based on the industry analysis used in its listing materials.
The company expects approximately HK$982.5 million in net proceeds. It has allocated 50% to robotics research and development, 20% to expanding production capacity, 20% to industry partnerships and sales, and 10% to working capital.
