Direct Drive Tech raises about $138 million in Hong Kong robotics IPO

A Chinese robotics technology company is taking the hardware behind robot movement to the public markets. Direct Drive Tech, the listing entity associated with Benmo Power, began trading in Hong Kong under stock code 6731 on September 29, 2026.

The company offered 50 million H shares at HK$21.60 each, implying gross proceeds of approximately HK$1.08 billion, or about US$138 million.

What Direct Drive Tech makes

Direct Drive Tech focuses on robotic actuator modules, direct-drive motion systems and related robotics products. It is a component and technology supplier as much as a robot company.

An actuator is a fundamental robotic component. It converts energy into controlled movement, allowing a joint, wheel or mechanism to move.

Traditional robotic systems often use gearboxes to change motor speed and torque. Direct-drive systems attempt to generate usable torque more directly at the point of movement.

Why direct drive matters

Reducing mechanical components can reduce weight, friction and potential failure points, although direct-drive systems also place demanding requirements on motors, control electronics and thermal management.

That becomes important as robots become smaller, faster and more dexterous. Humanoid robots, mobile robots and industrial machines all require precise motion.

Where the IPO money goes

The company's offering materials say about half of the net proceeds are intended for research and development. Another 20% is allocated to industry partnerships and sales expansion, 20% to production capability and efficiency, and 10% to working capital and general corporate purposes.

Why robotics component suppliers matter

The robotics industry is becoming an ecosystem. Finished robots require actuators, motors, sensors, controllers, batteries, software and AI models. A company that supplies one of those layers can benefit from growth across several robot categories.

That is why component suppliers are increasingly attracting investor attention. The market does not have to choose one robot maker for every application if the underlying hardware can serve many systems.

Hong Kong as a hard-tech funding route

Direct Drive Tech's listing also fits Hong Kong's effort to attract specialist technology companies. Robotics is particularly suited to that narrative because it combines software with physical engineering and manufacturing.

What investors should watch

An IPO does not by itself prove that a robotics company has a durable advantage. Investors will need to watch production scale, customer concentration, R&D productivity, margins and the competitive landscape.

Robotics component suppliers can grow quickly when major customers adopt their hardware, but dependence on a few customers can also create risk.

The tecMAMBO take

Direct Drive Tech is interesting because it puts attention on the part of a robot most consumers rarely see: its joints. The robotics boom requires physical components that can move reliably and efficiently.

The HKEX listing gives the company fresh capital to pursue that opportunity. The harder test is converting engineering capability into durable commercial scale.