03952 來福諧波
LAIFUAL
LAIFUAL
| Register Close | 2026/06/25 IPO Closing in 3 Days |
| Listing Date | 2026/06/30 |
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IPO Detail
COMPANY PROFILE
Zhejiang Laifual Drive Co. is a provider of core components for robotic precision transmission in China. The Group offers a product portfolio spanning from harmonic reducers, joint modules and robotic arms to automated workstations. Its products enable applications primarily of humanoid robots and industrial robots.
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The Group ranked No. 2 among all the robotic harmonic reducer providers in China, in terms of shipment volume in 2025, with a market share of 21.4%, and ranked No. 2 in terms of revenue, with a market share of 12.9%, according to the report.
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As of December 31, 2025, the Group was one of the two domestic manufacturers that had achieved deliveries and mass production of harmonic reducers applied in the humanoid robot industry, its harmonic reducers achieved positioning precision of ±15 arcseconds with service life exceeding 10,000 hours in 2025.
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As of June 13, 2026, the Group had 81 granted patents and 26 registered trademarks in China, and filed 33 patent applications which were pending approval. The Group’s customers primarily include direct sales customers in the fields of humanoid robots, industrial robots and other automation equipment, as well as distributors.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Industrials |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 13.44M H shares |
| No. of International Offer Shares | 12.77M H shares |
| No. of HK Offer Shares | 0.67M H shares |
| Offer Price | $77.00 - $85.50 |
| Stock Code | 3952 |
| Sponsor(s) | CMB International Capital Limited |
| Underwriter(s) | CMB International Capital Limited |
TIME TABLE
| Application Period | Jun 22 (Mon) - noon, Jun 25 (Thu) |
| Price Determination Date | Jun 26 (Fri) |
| Result Announcement Date | On or before Jun 29 (Mon) |
| Result Announcement Date | On or before Jun 29 (Mon) |
| Result Announcement Date | On or before Jun 30 (Tue) |
| Dealings in Shares commence on | Jun 30, 2026. (Tue) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $77.00 - $85.50 |
| Capitalization (H Shares) | 7.96B - 8.84B |
| NAV / share ($) | $13.61 - $14.66 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 81.25, the net proceeds raised would be HKD 1.00B, of which |
| 55% : Production facility expansion with relevant equipment procurement and production personnel recruitment |
| 20% : Enhancement of R&D capabilities for product portfolio enrichment with expanded application scenarios |
| 5% : Expand overseas sales network |
| 10% : Strategic investment or acquisition |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).