Estun pays 485 million yuan to lift Jiangsu robotics unit stake

Estun Automation signed final agreements on Nov. 9, 2026, to acquire an additional 44.86% equity stake in its Jiangsu manufacturing subsidiary for 485.03 million yuan ($67.3 million).

The transaction lifts the parent company's controlling ownership in Estun Intelligent Technology (Jiangsu) Co., Ltd. from 50.15% to 95.01%, according to exchange filings submitted to the Shenzhen and Hong Kong bourses.

The buyout consolidates full operational control over the group's domestic production base for industrial robotics and precision motion control systems, funded entirely through internal cash reserves.

Estun is China's largest domestic industrial robot manufacturer by shipments, holding between 10% and 11% of the Chinese industrial robotics market and targeting 45,000 unit shipments worldwide in 2026.

The transaction absorbs equity stakes previously held by three prominent Chinese state-backed industrial investment funds, which entered the unit as minority financial partners to support plant expansion.

On Nov. 9, Estun concluded an agreement with Genertec High-End Equipment Industry Equity Investment Partnership to purchase a 21.62% equity interest for 234.00 million yuan ($32.5 million).

The Genertec agreement requires Estun to transfer the full purchase consideration in a single cash installment within 15 calendar days of signing, the company said in the filing.

The settlement date of the cash transfer serves as the formal closing date, after which the unit must complete registration changes with corporate regulators within 10 business days.

Also on Nov. 9, Estun executed a property transaction contract to purchase a 3.78% stake from the China State-Owned Enterprise Mixed-Ownership Reform Fund for 40.43 million yuan ($5.6 million).

Estun secured that equity through a public bidding procedure on the Shanghai United Assets and Equity Exchange, applying an existing deposit of 12.08 million yuan toward the total price.

Estun must remit the remaining 28.35 million yuan balance to the mixed-ownership fund within five business days of contract effectiveness, according to the transaction terms.

Those two Nov. 9 signings followed an earlier agreement executed on Oct. 27 with the China National Manufacturing Transformation and Upgrading Fund.

Under that contract, Estun bought a 19.46% equity interest from the national manufacturing fund for 210.60 million yuan ($29.2 million) through public delisting, concluding terms approved on Sept. 23.

By lifting its Jiangsu stake to 95.01%, Estun retains near-total earnings exposure to its primary production plant for six-axis robotic arms, servo motors and automation controllers.

Jiangsu Intelligent functions as the principal integration base where Estun links precision servo drives and motion software with standard robot chassis for automotive and electronics manufacturing clients.

Estun recorded 2.14 billion yuan in revenue from industrial robotics and automated systems in the first half of 2026, generating gross margins of 31.7% in that division.

Securing total ownership eliminates minority profit leakage from high-mix assembly lines and standardizes component sourcing for key servo units used across heavy-payload welding machines.

The corporate filings do not state whether the local market regulation bureau has approved the formal equity title modification, and the statutory filing review remains incomplete.

Estun scheduled the final payment to the Genertec equipment fund by Nov. 24, with subsidiary registration documents due to be finalized within 10 business days following funds settlement.