PaXini Tech, a Chinese haptic technology and humanoid robotics company backed by BYD and JD.com, is considering an initial public offering in Hong Kong and could submit a listing application in the coming months, according to people familiar with the matter. The company is working with banks on the potential offering.
PaXini raised more than 1 billion yuan in a Series B funding round in March that valued it at more than 10 billion yuan – approximately $1.48 billion. The company develops tactile sensors, dexterous robotic hands, and a humanoid robot platform, positioning it in the component supply layer of the humanoid industry that has attracted significant investor attention as platform manufacturers scale production.
What PaXini Makes
PaXini describes itself as a haptic technology and humanoid robotics company, with products spanning tactile sensing hardware, five-finger dexterous robotic hands, and a full humanoid robot. The haptic layer – sensors and actuation systems that give robots a sense of touch and force feedback – is increasingly recognized as a critical capability gap in current humanoid platforms, which can see and hear their environments but struggle to reliably sense the pressure and resistance required for delicate manipulation tasks.
The combination of BYD and JD.com as backers reflects the cross-sector interest in humanoid supply chain companies. BYD brings battery and manufacturing expertise alongside its strategic interest in robotics for its own production facilities. JD.com has been active in the robotics sector through its JoyInside platform, which already includes Unitree and Noetix robots, and recently announced the world’s first humanoid robot auction as part of its 618 shopping festival campaign.
The Hong Kong Listing Wave
A PaXini IPO would add to a growing pipeline of Chinese AI hardware and robotics companies seeking public market access. Unitree Robotics cleared its Shanghai STAR Market listing committee review on June 1. Dobot is pursuing a secondary listing on Shenzhen’s ChiNext board. Leju Robotics and Deep Robotics are advancing toward their own IPOs. The parallel push across exchanges reflects both the availability of capital and the strategic signaling value of public listing for companies competing in a sector where scale and credibility matter to enterprise customers.
Hong Kong provides a different listing profile than Shanghai’s STAR Market – greater international investor access and a regulatory environment more familiar to global institutional funds, making it a natural destination for companies with significant overseas commercial ambitions.
