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Physix Frontier · News Briefing Card (TMTPost · Jul 13, 2026)

Benmo Dynamics Passes HKEX Hearing, Nears Fourth Li Zexiang Robot IPO

KEY FACTS

  • Direct-drive module maker Benmo Dynamics has passed the Hong Kong Stock Exchange hearing, with cumulative funding of nearly 650 million yuan.
  • In 2025, its consumer robot direct-drive power module shipments reached about 8.5 million units, giving it a 61.1% market share.
  • Founder Zhang Di is a 31-year-old PhD from HKUST; the company's technology path abandons traditional reducers in favor of a direct-drive approach.
  • Yizhuang state capital and the Li Zexiang incubation ecosystem are deeply involved in investment, and the company's valuation has reached nearly 3.2 billion yuan.

KEY DATA

nearly 650 million yuanCumulative funding
nearly 3.2 billion yuanPost-money valuation
about 8.5 million units2025 module shipments
61.1%Domestic segment market share

PHYSIX OBSERVATION

Benmo Dynamics' listing marks the robot sector's shift from "algorithm PPTs" to "bottom-layer hardware delivery." Direct-drive technology solves the pain points of joint noise and lifespan, confirming the independent commercial value of core components. The success of the Li Zexiang ecosystem and Yizhuang's scenario empowerment signals that future hard-tech startups will rely more on the "university incubation + local industrial closed loop" model, and the era of simply burning cash on funding is coming to an end.

Source: TMTPost report