Micro-drive systems manufacturer Zhaowei Machinery & Electronics completed its A+H dual listing with a successful HKEX IPO on 9 March, raising HKD1.9 billion (USD243 million). This follows its 2020 debut on the Shenzhen ChiNext board. The offering included 26.7 million H shares priced at HKD71.28 each and was oversubscribed 1,535 times. Key cornerstone investors included Hillhouse, Mirae Asset Securities, and GF Fund HK. Legal support was provided by prominent firms such as Baker McKenzie, AllBright Law Offices, Hogan Lovells, and Fangda Partners, covering multiple jurisdictions and regulatory areas.
Zhaowei, headquartered in Shenzhen and founded in 2001, is China’s largest provider and the world’s fourth-largest globally of integrated micro transmission and drive systems by 2024 revenue. Its flagship product, the “ZW Hand” system, advances micro-drive technology into humanoid robotics with sophisticated dexterity. The company serves diverse sectors including intelligent vehicles, consumer tech, medical technology, and robotics, offering customized precision drive solutions. Proceeds from the IPO will fund R&D, product portfolio expansion, production efficiency improvements, and global strategic initiatives including investments and M&A.
