CHERY AUTO plans to spin off its humanoid robotics unit AiMOGA for a listing as competition intensifies in China's robotics sector. The company targets 10,000 robot deliveries next year after shipping more than 3,000 units globally to date.
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CHERY AUTO plans AiMOGA spin-off as robot deliveries target 10,000 units
CHERY AUTO (09973.HK) plans to spin off its humanoid robotics unit AiMOGA for a listing, targeting 10,000 robot deliveries next year.
"As competition intensifies in China's humanoid robotics sector, the company is preparing a listing for AiMOGA to provide funding support for future growth, while also enhancing governance, transparency and operational standards," Zhang Guibing, International Business Group General Manager at CHERY AUTO, told Reuters.
AiMOGA has delivered more than 3,000 robots globally, including 2,000 units in overseas markets, with operations spanning more than 60 countries and regions. Zhang said discussions are underway regarding several potential listing venues for AiMOGA, with the goal of becoming one of the world's top robotics companies.
CHERY AUTO shares rose 2.6 percent to HKD26.04, after opening 0.08 percent higher and reaching a session peak of HKD26.3. Turnover reached 830,200 shares, involving HKD21.6301 million. Short selling data showed $5.10 million in short positions, a ratio of 9.106 percent.
The spin-off comes as China's humanoid robotics sector sees intensifying competition from domestic players including UBTech Robotics and Unitree, alongside global entrants such as Tesla's Optimus program. A standalone listing would give AiMOGA independent access to capital markets to fund research and development, while separating its financial performance from CHERY AUTO's core automotive operations.
The humanoid robotics market has become a strategic focus for Chinese automakers and technology firms seeking growth beyond traditional manufacturing. CHERY AUTO's International Business Group, which oversees AiMOGA, has expanded the robotics unit's operations to more than 60 countries and regions. The company's estimate of 10,000 deliveries next year would represent a more than threefold increase from current cumulative shipments of 3,000 units.
Offer price, deal size, cornerstone investors, and listing venue have not yet been disclosed. The company said discussions on potential listing venues are ongoing, with no timeline provided for the spin-off.
The planned listing reflects CHERY AUTO's broader push beyond automotive manufacturing into robotics, a segment the company estimates will see deliveries leapfrog to 10,000 units next year. Investors will watch for further details on the listing venue and timeline in coming months, as the robotics unit's valuation will depend on delivery growth and margin trajectory against sector peers. A successful spin-off would also provide CHERY AUTO shareholders with direct exposure to the robotics segment's growth potential, separate from the volatility of the automotive cycle.
This article is for informational purposes only and does not constitute investment advice.
