Galaxis Technology Co., Ltd.

Date of Prospectus: March 16, 2026

Galaxis Technology IPO: Deep Dive into the 2026 Hong Kong Listing, Financials, Growth Story & Investor Insights

Galaxis Technology is launching its highly anticipated IPO on the Hong Kong Stock Exchange in March 2026, positioning itself as a robust player in the robotics and technology sector. With a growth-focused use of proceeds, advanced product lines, and a solid base of pre-IPO investors, this offering draws close attention from institutional and retail investors alike.

IPO Snapshot: Offer Price, Size, Timeline, and Structure

Galaxis Technology is offering its shares under the symbol: Not explicitly stated in the prospectus.

Use of proceeds is firmly growth-driven: HK\$617.5 million is expected to be raised (at HK\$18.40/share, mid-point), with 24.5% (HK\$151.3 million) allocated to advancing core robotics product lines through R&D, product enhancement, and new product development. The remainder is reserved for areas including market expansion, supply chain, working capital, and other corporate uses [[24]].

Dividend Policy and Shareholder Return

No dividend has been paid or declared to date. The company expects to retain all future earnings for business operation and expansion and does not intend to declare or pay dividends in the foreseeable future. Any future dividend is subject to Board discretion, PRC Company Law, and profit availability, with a requirement to first cover accumulated losses and allocate 10% of net profit to statutory reserves until this reaches 50% of registered capital [[23], [403]].

Investor Participation & Book Quality

Pre-IPO investors form a robust and diversified shareholder base, including institutional names such as Qijiang, Qilu, S.F. Technology, Suzhou Huidao, China Merchants Advanced Technology, and Jointown Pharmaceutical. A lock-up period of 12 months post-listing applies to all existing shareholders (including Pre-IPO investors) under PRC law [[112], [113]]. Anchor and cornerstone investor allocations, as well as oversubscription data, are not specifically disclosed.

Deal Parties and Structure: Sponsors, Underwriters, and Stabilization

The IPO is led by a syndicate of reputable financial institutions, including:

• Joint Sponsors
• Sponsor-Overall Coordinators
• Overall Coordinators
• Joint Global Coordinators
• Joint Bookrunners
• Joint Lead Managers

The offering is fully underwritten, with a standard over-allotment (greenshoe) option of up to 5,519,600 H Shares (15% of the base offering) available to cover excess demand [[288]]. Underwriting commissions are set at 2.0% of the aggregate offer price, with up to 1.5% as discretionary incentive fees [[288]]. The syndicate’s structure and incentives support robust book-building and aftermarket stability.

Company Overview: Business Model, Products, and Market Position

Galaxis Technology operates in the robotics sector, focusing on core product lines and advanced technology solutions. The company’s business model is centered on R&D, manufacturing, and commercialization of robotics and related products, serving a wide range of industrial and commercial customers. Revenue is driven by product sales, with additional monetization through value-added services. Key geographies and customer segments are not detailed in the prospectus.

The company has demonstrated rapid growth: For the year ended December 31, 2024, revenue reached approximately RMB721.4 million (exceeding the HK\$500 million listing requirement). This momentum has continued into 2025, driven by strong demand for Galaxis’s robotics products and solutions [[25]].

Industry and Sector Outlook

Galaxis operates within the advanced robotics and technology industry. The sector is characterized by rapid innovation, increasing automation, and expanding applications across manufacturing, logistics, and other verticals. Industry size and macroeconomic indicators are not provided in the disclosed information.

Financial Health: Revenue, Margins, and Key Ratios

Pro forma adjusted net tangible assets per share: HK\$2.91–HK\$3.25, depending on the final offer price. The company’s financials show improving gross margins and stable liquidity, but current and quick ratios indicate a working capital profile that investors should monitor [[403], [23], [24]].

Recent Developments and Market Environment

Business operations have normalized post-Track Record Period, with no material adverse impact on financial performance anticipated going forward. As of December 31, 2025, Galaxis reported continued growth, supported by robust demand for its robotics solutions [[25], [275], [67], [464]].

Ownership Structure and Lock-Ups

Post-IPO shareholding structure:

• Single Largest Group of Shareholders: ~27.26% (assuming over-allotment not exercised, no further shares issued under ESOPs)
• Public Float: ~59.85% at low end of offer price (HK\$16.40), decreasing as price rises
• Pre-IPO Share Option Schemes: Outstanding options represent ~2.07% potential dilution if fully exercised
• Lock-up: All existing shareholders (including Pre-IPO investors) are subject to a 12-month lock-up under PRC law [[23], [112], [123]]

Growth Strategy: R&D, Expansion, and Synergies

Growth plans center on advancing core robotics lines, with 24.5% of IPO proceeds (HK\$151.3 million) earmarked for enhancing and developing products. The company also aims to leverage the strategic capabilities of its pre-IPO investors, who bring industry expertise and business synergies [[24], [112]].

Risk Factors: Key Exposures and Mitigants

Material risks include:

• Shareholding concentration: The Single Largest Group of Shareholders will hold approximately 27.26% post-IPO, potentially influencing major decisions and deterring takeovers [[57]].
• Liquidity and working capital: Current and quick ratios are low (0.5–0.6), reflecting a tight working capital position [[403]].
• Market and trading risk: As a newly listed stock, the trading price may be volatile, especially if research coverage is limited or negative [[58]].
• Dividend uncertainty: No dividend policy or payout is planned in the near term; statutory requirements must be met before distributions [[23], [403]].
• Regulatory, operational, and market risks: Full details are disclosed in the prospectus under “Risk Factors,” including changes in government policy, industry competition, and macroeconomic volatility [[39]].

Valuation and Peer Comparison

Valuation multiples (P/E, P/B, EV/EBITDA), peer company symbols, and sector performance tables are not provided in the disclosed information. Market capitalization at IPO will range from approximately HK\$7.02 billion to HK\$8.73 billion, depending on the final offer price [[23], [24], [379]].

IPO Allotment Result

Final subscription and allocation results will be available at: www.iporesults.com.hk and www.eipo.com.hk/eIPOAllotment, with a search-by-ID function from 11:00 p.m. March 23, 2026, to midnight March 29, 2026.

Listing Outlook: Inferred Assessment

The Galaxis Technology IPO is fundamentally growth-driven, with proceeds directed toward R&D and new product development. The presence of established pre-IPO investors, a respected syndicate of underwriters, and a stabilized offer structure suggest solid institutional backing. The 12-month lock-up for all existing shareholders enhances float stability. While the absence of a dividend policy and modest liquidity ratios are noted constraints, the company’s post-pandemic normalization and continued growth underpin its investment case.

Based strictly on disclosed facts, the IPO appears attractive for growth-oriented investors, with likely strong first-day trading supported by institutional allocation, stabilization mechanisms, and sector tailwinds. The likely first-day trading range is inferred to remain near or above the offer price, barring broad market volatility.

How to Apply

Application for Hong Kong Offer Shares is fully electronic.

• Via White Form eIPO: www.eipo.com.hk
• Via HKSCC EIPO channel: Instruct your broker or custodian who is a HKSCC Participant to submit electronic applications via HKSCC’s FINI system.
• No physical application channels are provided.
• Eligibility: Applicants must be 18 years or older and have a Hong Kong address (for White Form eIPO). Certain restrictions apply for directors, substantial shareholders, and connected persons.
• Application window: Opens 9:00 a.m. March 16, 2026; closes 11:30 a.m. March 19, 2026 (White Form eIPO)/12:00 noon March 19, 2026 (HKSCC instructions).

Prospectus Access

For further details, the prospectus can be viewed at: www.hkexnews.hk and www.galaxis-tech.com