From August 24 to August 27, Mercamander Robotics (09615) plans to sell 23.140,600 H shares globally to introduce cornerstone investors such as Baillie Gifford and Taikang Life

According to the Zhitong Finance App, Mercamander Robotics (09615) will raise shares from August 24, 2026 to August 27, 2026, and plans to sell 23.140,600 H shares globally, of which the Hong Kong public sale accounts for about 5%, international sales account for about 95%, and 15% over-allotment rights. The sale price of each share is HK$95.30-101.70. H shares will be traded as 30 H shares per trading unit. It is expected that H shares will begin trading on the Stock Exchange at 9:00 a.m. on September 1, 2026 (Tuesday).

The Group is a supplier of intelligent robot components. The Group's products have been deployed in equipment used by end customers in production and operation processes. The Group's system uses 3D vision technology to capture point cloud data to achieve accurate spatial perception, and uses AI algorithms based on deep learning. After extensive industrial data training, these algorithms can achieve autonomous recognition, decision-making and motion planning under complex conditions such as random stacking, reflective surfaces, and partial occlusion without relying on manual programming. The Group provides advanced, standardized “eye-brain-hand” components to enable robots to sense, understand, and interact with the real world, including intelligent robot guidance products (including industrial-grade 3D cameras and related software), intelligent detection and measurement products (including 3D measuring instruments and related software), and next-generation cornerstone components (such as the Group's own multi-modal large model and dexterous manipulators). The Group is deeply involved in AI and advanced sensing technology research and development to provide robots with “eyes” and “brains”, so that robots of various shapes have the ability to accurately sense, make intelligent decisions, and plan efficiently, and can adapt to complex actual industrial scenarios. During the track record period, the Group mainly served end customers from the automotive, new energy, consumer electronics, logistics, education and general manufacturing industries.

The Group has entered into Cornerstone Investment Agreements (each referred to as the “Cornerstone Investment Agreement”, the “Cornerstone Investment Agreement”, the “Cornerstone Investment Agreement”) with Baillie Gifford, Taikang Life Insurance, Inbus, Jane Street, Ghisallo, Ruihua, NGS Super Fund, E-Fangda, Golden Link (each referred to as the “Cornerstone Investors”), according to which certain conditions are met (including for Taikang Life Insurance) For limited liability companies and E-Fangda Fund Management Co., Ltd., qualified domestic institutional investors (“QDII”), approved by relevant Chinese regulators, subscribe for a total of US$186 million to purchase that number of shares to be offered (approximately up to the nearest total of 30 H shares) (“cornerstone placement”).

Assuming an offering price of HK$98.50 (that is, the median of the offer price range set out in this prospectus), the total number of shares to be subscribed by Cornerstone investors (including those who will be subscribed through QDII) will be 148.17,500 shares, accounting for approximately (i) 64.03% of the H shares proposed for sale under the global offering (assuming no overallotment rights have been exercised); (ii) 11.85% of the total issued share capital of the Group immediately after the completion of the global offering (assuming that the over-allotment rights have not been exercised); and (iii) Following the completion of the global offering and full exercise of the over-allotment rights, the Group has 11.53% of the total issued share capital.

Assuming that the offer price of each share offered is HK$98.50 (the median of the offer price range as stated in the prospectus), after deducting underwriting fees and commissions and other estimated expenses payable by the Group in connection with the global offering, and assuming that the over-allotment rights are not exercised, it is estimated that the net proceeds from the global offering to be collected by the Group will be approximately HK$2,129 billion. According to the Group's strategy, the Group plans to use the proceeds from the global sale for the following purposes: (1) Approximately 31.8% will be used to fund R&D of the Group's products and technology; (2) Approximately 25.2% will be used to enrich the Group's product portfolio and expand application scenarios; (3) Approximately 29.4% will be used to expand the Group's global influence and accelerate commercialization; (4) Approximately 5.0% will be used to expand production capacity and improve operational efficiency; (5) Approximately 8.6% will be used for working capital and general corporate purposes.

Continued investment in R&D is the key for the Group to maintain technological leadership. As of March 31, 2026, the Group had 229 R&D employees, accounting for 36.1% of the total number of employees as of the same day. In 2023, 2024 and 2025, and for the three months ending March 31, 2025 and 2026, the Group's R&D expenses were RMB119 million, RMB109 million, RMB113 million, RMB21.2 million and RMB38.5 million respectively, accounting for 65.6%, 40.6%, 29.0%, 34.4% and 36.0% of the Group's total revenue for the same period. In the future, the Group will continue to increase investment in R&D, consolidate technical advantages, and meet the complex and diverse needs of customers.