Mech-Mind listed on the Hong Kong Stock Exchange on 1 September, backed by a cornerstone book that reads like a global asset roster: Baillie Gifford, which once held Tesla and Nvidia, led the round, joined by Taikang, Jane Street, BYD’s Golden Link, Invus, Ghisallo, Ruihua, Australia’s NGS Super and EasTone, together subscribing 186 million dollars, about 1.25 billion yuan.
The eye-brain-hand loop
From its 2016 start, Mech-Mind bet on physical AI without building whole robots, instead shipping standardised “eye-brain-hand” modules. Its Mech-Eye 3D camera turns the physical world into computable space even on reflective metal, transparent parts and low light. Its new multi-finger hand balances dexterity and speed with over a million motion cycles. The brain, its own multimodal Mech-GPT plus vision and planning algorithms, splits into a slow layer for instruction and reasoning, a fast layer for grasp and path, and a low layer for motion and checks.
The design goal is “one brain, many forms”: the same system drives different robots from different brands, plug and play across bodies.
Knowing what it is doing
Founder and CEO Shao Tianlan argues real robot intelligence needs scene representation and task abstraction, so a machine plans from its own body and environment rather than memorising one script. Mech-Mind chose architecture, standard task forms, quality data and testing over simple end-to-end fitting, so a robot can adapt when material or layout changes without retraining per scene.
From thousands to tens of thousands
Commercial rhythm sped up: four years to the first thousand units, then near ten thousand over the next four, then a ten-thousand batch in about a year. Revenue rose from 181 million yuan in 2023 to 269 million and 389 million yuan in 2025, a 46.6 per cent compound rate, with first-quarter 2026 at 107 million yuan, up 73.1 per cent. Gross margin climbed from 39.1 per cent to 64.6 per cent in 2025.
Overseas past half
Global was the plan from day one. Overseas revenue grew from 58.6 million yuan in 2023 to 195.5 million in 2025, an 82.7 per cent compound rate, crossing 50.3 per cent of the total in 2025 from 32.4 per cent. Its products reach nearly 50 countries with over 900 overseas clients, and it runs units in Munich, Chicago, Tokyo and Seoul with 16 business centres. Its physical-AI solution joined the World Economic Forum’s MINDS programme.
Mech-Mind’s wager is that the embodied brain, not the metal body, is the variable that decides which robots reach real factories. As deployment scales, that bet gets tested in public.
Editor’s note: This is an adapted translation of the original ZhiDongXi report. It has been trimmed and restructured for readability for an international business audience. The full original (in Chinese) is at https://www.zhidx.com/p/589069.html.