Shenzhen exchange accepts Leju's ChiNext IPO filing; it seeks CNY 2.6B

Leju Robotics

The Shenzhen Stock Exchange accepted Leju's application to list on ChiNext, the first under a new standard for unprofitable companies with fast revenue growth. The filing showed 2025 revenue of CNY 258M, up from CNY 55.5M, with a net loss of CNY 71.2M.

• Plans to raise CNY 2.6B; sponsor is Orient Securities.
• Kuavo humanoids made about 69% of 2025 revenue.
• Gross margin fell from 50.5% (2023) to 40.8% (2025).
• Proceeds go to a humanoid production base, an embodied-AI R&D centre and training datasets.