Key Takeaways:
- PaXini plans HK listing, may file with HKEX in coming months
- BYD and JD-backed firm raised over RMB 1 billion in March
- Company valued at over RMB 10 billion after latest funding round
Back
PaXini weighs Hong Kong IPO at over RMB 10 billion valuation
PaXini, a robotics firm valued at over RMB 10 billion, is weighing a Hong Kong IPO, Bloomberg reported.
"PaXini's technology bridges the gap between tactile sensing and robotic manipulation, a key frontier in humanoid robotics," the people said, speaking on condition of anonymity because the matter is private.
The company may submit a listing application to Hong Kong Exchanges & Clearing Ltd. in the coming months. It raised over RMB 1 billion in a March funding round from backers including BYD Co. and JD.com Inc., giving it a valuation of over RMB 10 billion, or about $1.4 billion.
PaXini's product lineup includes haptic sensors that enable touch feedback, dexterous robotic hands for precision manipulation, and the Tora humanoid robot designed for industrial and service applications. The company operates at the intersection of haptics technology and humanoid robotics, two sectors that have attracted growing investor attention.
The potential listing comes as Hong Kong seeks to revive its IPO market after a prolonged downturn. Deal volume on HKEX fell to a two-decade low in 2024, though activity has shown signs of recovery in early 2025. Several Chinese technology and robotics companies have expressed interest in listing in the city, drawn by improving market conditions and clearer regulatory frameworks.
BYD, China's largest electric vehicle maker, and JD, one of the country's top e-commerce platforms, are among PaXini's strategic backers. Their involvement shows confidence in the commercial viability of humanoid robotics, a sector that has attracted increasing investment from global technology companies.
The company did not disclose the proposed deal size, offer price range or lead underwriters. The over RMB 10 billion valuation positions PaXini among the larger robotics-focused listings expected in Hong Kong. First-day trading, if the listing proceeds, will test institutional appetite for the haptics and humanoid robotics sector.
This article is for informational purposes only and does not constitute investment advice.
