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IPO Plus - IPO

To-be Listed
Name▼
/
Code▼
 Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date▼
Listing Date▲
ALSCO Pooling
02649.HK		 Metal & Glass & Plastic Packaging 11-14 500 7,070.60 2026/03/04 2026/03/06 2026/03/09
Zhaowei
02692.HK		 Industrial Machinery N/A 100 7,442.31 2026/03/04 2026/03/06 2026/03/09
Estun automation
02715.HK		 Next-generation information technology 15.36-17 200 3,434.29 2026/03/04 2026/03/06 2026/03/09
MeiG Smart Tech
03268.HK		 Telecommunications & Networking Equipment N/A 100 2,915.10 2026/03/05 2026/03/09 2026/03/10
VOYAH Automotive
07489.HK		 Automobile Manufacturers N/A 1,000 N/A N/A Not applicable 2026/03/19
Zhaowei (02692.HK)
Summary
We are the No. 1 provider of integrated micro transmission and drive system products in China and No. 4 provider globally as measured by revenue in 2024, according to the F&S Report, with a respective market share of 3.9% and 1.4%. The global integrated micro transmission and drive systems market is highly fragmented, according to the F&S Report. We design, manufacture and sell micro transmission and drive systems products along with the components that support these systems, mainly to customers located in the PRC and, to a lesser extent, overseas. Our products enable these industries to explore what is possible in precision, efficiency and control. With respect to types of products, we provide micro transmission and drive systems and precision components, as well as customized molds based on specific customer requirements. Micro transmission and drive systems are highly integrated systems delivered to customers, typically consisting of (1) the transmission system, as the functional core essential to each product offered to our customers; and (2) the micro motor system and/or (3) electronic control system, as the other functional modules requested by the customers for each product. These three functional systems are combined into one consolidated system to transform and transmit the power supplied by the power source to the actuator, thereby performing critical functions including power transmission, control, speed variation, and direction reversal. Precision components are the key supporting injection-molded parts for micro transmission and drive systems. These precision components come in extremely varied product forms in terms of sizes, shapes, complexity and application settings and are unstandardized. For details of the types of products offered, as well as explanations about their key applications in each business line, see “Business—Our Principal Products.”

We are dedicated to driving our development through our tri-integrated strategy, which synergizes transmission systems, micro motor systems and electronic control systems into a unified framework. This framework is designed to meet the increasingly stringent demands of the intelligent era for system integration, rapid responsiveness and spatial efficiency in micro drive applications. By deeply fusing these three systems, we achieve drive control within a compact footprint, enabling us to address the market’s growing requirements for precision, miniaturization and intelligent functionality, and to continuously advance the development of micro drive technologies. As of September 30, 2025, we possessed 405 relevant patents, ranking No. 1 in China’s integrated micro transmission and drive system industry. We primarily provide integrated micro transmission and drive system products tailored to the specific needs of high-growth industry verticals, ranging from intelligent automotive, consumer technology, healthcare technology and advanced industrial manufacturing to embodied robotics, where we have built deep technical expertise and long-standing customer partnerships. We focus on these sectors, as they are undergoing structural transformation through intelligent, automated and miniaturized technologies.

We operate in a rapidly expanding industry. China’s integrated micro transmission and drive system market increased from RMB20.3 billion in 2020 to RMB33.2 billion in 2024 at a CAGR of 13.0%, according to the F&S Report. The growth is expected to accelerate further, reaching RMB72.6 billion by 2029 at a projected CAGR of 17.3% from 2025 to 2029, driven by industrial upgrades and technological progress. Meanwhile, as a highly interdisciplinary field, integrated micro transmission and drive systems require high precision, rigorous customer certification and significant capital investment in R&D.

We believe we are well-positioned to capture the enormous market opportunities. Since our founding in 2001, we have remained committed to a technology path focused on precision, miniaturization and ultra-thin. We established early mover advantage in automotive electronics, having entered the global supply chain of the world’s largest automotive components supplier according to the F&S Report since the commencement of business relationship in 2011. Over the past decades, we have developed crucial techniques spanning plastic injection molding, powder metallurgy, metal powder injection molding and precision metal machining, and successfully developed full-chain capabilities covering mold design, core parts manufacturing and integrated drive system development. Leveraging our tri-integrated framework, we deeply integrate transmission systems, micro motor systems and electronic control systems to deliver drive control within compact product dimensions. We developed China’s smallest 3.4mm micro transmission system; we are the world’s first company to mass-produce micro transmission systems under 6mm with high quality and efficiency; we have also achieved a technological breakthrough in our 4mm brushless coreless motor and now possess the capability for mass production.

Our tri-integrated framework and deep technological and process expertise have enabled us to establish a dual-pronged growth model. On one hand, we continuously co-develop tailored products with leading players across diverse industry verticals to address complex application needs and capture diversified growth opportunities. On the other hand, we leverage our accumulated industry experience and technical capabilities to drive the standardization and scale-up of our self-branded, platform-based products, enhancing market recognition and building multiple growth engines.

To date, we have developed three major platform-based products under our ZHAOWEI brand, i.e., high-performance servo motor series, drum motor and dexterous hand. Our high-performance servo motor series feature powerful output capabilities, dynamic performance and efficiency, supporting a wide range of application scenarios, including high-end consumer technology products. Our drum motor drive system is a fully integrated motorized roller that combines a motor, gearbox and electronic control system into a compact and efficient design, featuring power outputs meeting the requirements during the peak hours of our customers, modular and maintenance-friendly design, enhanced durability with high-strength gearbox, and standardized product range for versatile applications. Moreover, we have developed highly-integrated micro drive modules that power our dexterous hand product, capable of precisely replicating human grip and fine-motion control. As the first company in China to introduce a commercialized high-degree-of-freedom dexterous hand product, we have established collaborative partnerships across the industry value chain and commenced our global commercialization journey. According to the F&S Report, the commercialization progress of our dexterous hand ranks among the most advanced worldwide. The following diagram illustrates our business model.



Source: Zhaowei (02692) Prospectus (IPO Date : 2026/02/27)
Listing Market MAIN
Industry Industrial Machinery
Background H Shares
Major Business Area China
Corporate Information
No related information.
 
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