Noetix Robotics Files for Hong Kong IPO, Bloomberg Reports

Noetix Robotics has confidentially filed for a Hong Kong IPO that could raise several hundred million dollars, Bloomberg reported on October 22, citing people familiar with the matter. The Beijing-based humanoid robot maker could list as early as 2027.

Bloomberg identifies the company as Songyan Power Beijing Technology Co. Its sources cautioned that deliberations are ongoing and the offering's size and timing could change. Noetix did not respond to Bloomberg's request for comment.

Key Takeaways

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• Bloomberg reports that Noetix has filed confidentially for a Hong Kong listing, potentially raising several hundred million dollars.
• A listing could take place as early as 2027, but the timing and deal size remain unsettled.
• The reported IPO plans follow a March funding round led by an investment platform affiliated with battery maker CATL.

From private funding to a possible listing

According to Bloomberg, Noetix raised 1 billion yuan, approximately $150 million, in March. The round was led by an industrial investment platform affiliated with Contemporary Amperex Technology Co. Ltd., better known as CATL.

The reported filing would mark a further step toward public-market funding. It does not establish a final fundraising target or listing date, and Bloomberg's account does not disclose an IPO valuation, offer price or proposed use of proceeds.

What Noetix builds

Noetix develops humanoid robots, biomimetic robotics and embodied AI. Its product lineup includes the Bumi, N2 and E1, alongside other platforms listed on its website.

The company's E1 product page illustrates its pitch beyond athletic demonstrations. It advertises an education edition with a 67 TOPS compute board and development documentation, optional dexterous hands, and a quick-release battery. Noetix lists exhibitions, shopping-mall guidance and enterprise services among the platform's intended applications.

Those are product specifications and proposed use cases, rather than evidence of the scale of customer deployments. The IPO report does not provide revenue, profitability or shipment figures with which to assess the business behind the demonstrations.

A more complicated market for humanoid IPOs

Bloomberg places Noetix among several Chinese robotics companies pursuing Hong Kong listings, as AI-related businesses drive activity in the market. It reports that Hong Kong IPOs have raised more than $50 billion this year.

The robotics sector's reception has been less straightforward. Bloomberg notes that Unitree's shares have fallen almost 40% from their peak following its August Shanghai IPO, despite the attention surrounding humanoid robots.

That broader retreat can coexist with sharp daily rallies. In our recent coverage of Unitree's commercialization warning, the company cautioned after a surge in its shares that humanoid commercialization remains at an early stage. It highlighted uncertainty around technology, downstream demand and the supporting supply chain, warning that slower adoption could affect future growth and earnings.

For Noetix, the next substantive details to watch are the proposed offering terms and financial disclosures. For now, the news is a reported confidential filing, with the timetable and fundraising amount still subject to change.