At the launch of Xiaomi Pengcheng, the unsung contributor behind the SU7 and YU7 is rushing to list in Hong Kong for the third time - 36Kr

Industrial smart mobile robot maker Standard Robots has filed for a Hong Kong IPO for the third time on July 27, aiming to become the first industrial embodied-intelligence stock in Hong Kong.

The company has served customers including Xiaomi Auto, Huawei, Foxconn and ZTE, and is a key logistics robot supplier for Xiaomi’s SU7 and YU7 production lines.

Revenue has grown quickly, but the company faces pressure from large accounts receivable and tight cash flow due to long payment cycles and delivery-heavy operations.

Its first two listing applications expired, highlighting the financing strain faced by fast-growing industrial robotics firms.