First day of the IPO | “Direct Drive First Stock” Benmao Technology (06731) was listed for the first time and rose nearly 9% in early trading

The Zhitong Finance App learned that Benmao Technology (06731) was first listed. The announcement showed that each share was priced at HK$21.6. A total of 50 million shares were issued, with 100 shares per lot, with a net proceeds of about HK$983 million. As of press release, it rose 6.48% to HK$23, with a turnover of HK$190 million.

According to the prospectus, Benmao Technology, founded in 2020, has built three core robot technology platforms: robot power module, wheel foot robot, and modular splicing, as well as two product lines: robot power module and robot machine, forming a two-wheel drive development system from core component empowerment to the entire airport landscape.

In terms of large-scale delivery and application of direct drives, Benmao Technology has embarked on a highly elastic growth curve. According to Frost & Sullivan data, in 2025, the company shipped about 8.5 million sets of direct drive modules throughout the year. It is the first and only company in the world to ship more than 5 million sets of direct drive modules per year, and its market share is in an absolute leading position. As of the first half of 2026, about 5.7 million sets of direct drive modules have been shipped, and they have entered the supply chain of four of the world's top ten consumer robot manufacturers.