China's Sinomags files for Hong Kong IPO to fund robot sensor push

Sinomags, China's largest magnetic sensor maker with a 0.6% global market share, has filed a draft listing document for a Hong Kong IPO. Revenue grew from RMB594.2 million in 2023 to RMB845.3 million in 2025, with profit of RMB47.9 million in the first five months of 2026.

• Sinomags holds a 0.6% global magnetic sensor share and ranks first in China
• Revenue rose from RMB594.2 million in 2023 to RMB845.3 million in 2025
• Profit reached RMB47.9 million on RMB418.7 million revenue in Jan–May 2026
• Average selling price fell from RMB7.16 to RMB4.91 as gross margin rose to 28%