Kailuoshi Technology (02729) plans to globally issue 36.798 million H shares from March 16 to March 19.

Kailushi Technology (02729) offered shares from March 16, 2026 to March 19, 2026, planning to globally sell 36.798 million H shares, with approximately 10% for public sale in Hong Kong and 90% for international sale, with an additional 15% over-allotment option. The offer price is HK$16.4-20.4 per share. Each board lot consists of 200 H shares, and trading of H shares is expected to start on Tuesday, March 24, 2026 at 9:00 am on the Hong Kong Stock Exchange. The group is a comprehensive intelligent intralogistics provider for Siasun Robot & Automation, offering a wide range of Siasun Robot & Automation products with three core product lines: Multi-Directional Shuttle Siasun Robot & Automation (MSR), Autonomous Mobile Siasun Robot & Automation (AMR), and Conveyor Sorting Siasun Robot & Automation (CSR). The group's Siasun Robot & Automation product portfolio includes core functions of storage, sorting, and handling, covering the entire business scope of intralogistics. The group is one of the mature manufacturers in the intelligent intralogistics industry, with extensive Siasun Robot & Automation technological capabilities and a diverse range of independent research and development Siasun Robot & Automation product portfolio, covering core intralogistics functions with widely used high payload specifications. Over the past decade, the group has been committed to innovation in intralogistics automation, and based on revenue in 2024, the group ranked fifth among the top five comprehensive intelligent intralogistics Siasun Robot & Automation companies in China, with a market share of 1.6%. The group estimates that assuming the offer price for each H share is HK$18.40 (the midpoint of the indicative price range of HK$16.40 to HK$20.40 per H share) and the over-allotment option is not exercised, the net proceeds from the global offering after deducting estimated underwriting commissions and other expenses will be approximately HK$618 million. The group plans to allocate the net proceeds from the global offering as follows: approximately 24.5% for advancing the group's core Siasun Robot & Automation product line over the next six years (e.g. improving existing products and developing new products), of which approximately 10.5% will be used for technological advancement and development of the next generation AMR product. Additionally, approximately 20.5% will be allocated to research and develop the group's foundational technologies (such as digital twin technology, large-scale modeling technology, and AI-integrated Siasun Robot & Automation technology) and software capabilities development. About 25.0% will be used to expand capacity and enhance manufacturing capabilities (e.g. expanding manufacturing capacity and upgrading the group's production systems). Approximately 20.0% will support the group's market development plan, and around 10.0% will be used for international business development and participation in major industry exhibitions. Finally, approximately 10.0% will be used for working capital and other general corporate purposes. In 2022, 2023, and 2024, as well as for the nine months ended September 30, 2024 and 2025, the group's total revenue was RMB 657 million, RMB 551 million, RMB 721 million, RMB 344 million, and RMB 552 million, with corresponding gross profits of RMB 103 million, RMB 91.7 million, RMB 114 million, RMB 60.2 million, and RMB 91.4 million. During the same periods, the group's gross profit margins were 15.7%, 16.6%, 15.7%, 17.5%, and 16.6% respectively.