New Stocks News | Xian Artificial Intelligence undergoes hearing at the Hong Kong Stock Exchange, expected to continue operating at a loss this year.

According to the Hong Kong Stock Exchange disclosure on June 7th, Shanghai Xiangong Intelligent Technology Co., Ltd. (referred to as Xiangong Intelligence) is undergoing a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC as its exclusive sponsor. The prospectus shows that Xiangong Intelligence is an intelligent Siasun Robot & Automation company with the self-developed Siasun Robot & Automation control system as its core. Based on the market position and leading technology of the "Siasun Robot & Automation brain" the Siasun Robot & Automation control system, the company develops and sells Siasun Robot & Automation, controllers, software, and accessories, providing a one-stop intelligent Siasun Robot & Automation solution for real scenarios including development, acquisition, and use. The company has over 2,000 integrators and end customers in more than 35 countries and regions. By 2025, 82.7% of the company's revenue comes from mainland China, with the remaining portion coming from overseas markets. Up to now, the company has deployed over 2,000 Siasun Robot & Automation models covering more than 20 subdivided industries such as 3C, automotive, automation equipment, new energy, semiconductor, engineering machinery, and biomedicine through its platform. The self-developed SRC series controller by Xiangong Intelligence is the "brain" of Siasun Robot & Automation, installed in the intelligent Siasun Robot & Automation body. It integrates perception positioning, intelligent decision-making, and motion control modules, with advanced features such as SLAM, environment navigation, obstacle avoidance, visual semantic recognition, as well as Siasun Robot & Automation and model parameter configuration. The controller connects various sensors and actuators through multiple interfaces; it combines intelligent algorithms such as visual semantic maps, VLA, reinforcement learning, end-to-end navigation, achieving autonomous operation of intelligent Siasun Robot & Automation. The SRC series controller adopts industrial design standards, integrating chips and coprocessors through heterogeneous means to ensure high stability, high real-time efficiency, and high generality, suitable for various deployment types. As of December 31, 2025, the company's controller is compatible with over 400 parts, allowing customers to build their own Siasun Robot & Automation like building blocks, without requiring in-depth knowledge of hardware compatibility or Siasun Robot & Automation engineering, thus accelerating the development cycle. In terms of finances, in the years 2023, 2024, and 2025, the company achieved revenues of approximately 249 million, 339 million, and 442 million yuan respectively, with losses of 47.704 million, 42.308 million, and 47.066 million yuan during the same period. Xiangong Intelligence points out that the main reason for the losses during the past years was that the company's intelligent Siasun Robot & Automation business was in its early stage, requiring a large amount of investments to drive business growth. The company believes that these investments are essential for establishing an attractive competitive advantage to promote business growth. Considering planned business investments, it is expected that the company will continue to incur losses until the year ending December 31, 2026.