Chinese start-up X Square Robot has confidentially filed for a Hong Kong IPO, tapping Huatai Securities and Morgan Stanley as sponsors amid a wave of domestic robotics listings.
Shenzhen's robotics industry output reached a record 242 billion yuan (US$35.4 billion) in 2025, up 20% year-on-year, according to a whitepaper released at the Fair Plus robotics trade show. The city accounts for 43% of China's service robot output with nearly 8 million units, and a quarter of national industrial robot production at 194,900 units. X Square Robot showcased its Quanta X1 Pro robot capable of folding laundry and scooping cat litter, deployed in on-demand home cleaning services.
