Benmo Technology lists in Hong Kong with valuation above HK$8 billion, giving Li Zexiang’s early bet a paper return of more than 1,000x

Benmo Power (Beijing) Technology Co., Ltd., known as Benmo Technology, made its debut on the Hong Kong Stock Exchange on Sept. 29 at an offer price of HK$21.6. The stock opened higher, pushing the company’s market capitalization above HK$8 billion. According to its prospectus, the company’s post-money valuation in its 2020 seed round was about RMB5 million, meaning its valuation has increased by more than 1,000 times in roughly six years. Founder Zhang Di, born in 1994, studied mechanical engineering at Beijing Institute of Technology before moving to the Hong Kong University of Science and Technology to pursue robotics systems and control engineering under professor Li Zexiang. Benmo’s early development centered on direct-drive technology for robot power modules, after Zhang explored removing the traditional reducer component from robotic systems. The prospectus shows Songshan Lake Robot Research Institute invested RMB300,000 in the seed round as the sole investor, while Yunhe Investment and MiraclePlus joined the angel round with RMB3 million. The article says both Songshan Lake Robot Research Institute and Yunhe Investment are ultimately controlled by Li. Over six years, Benmo completed 12 funding rounds and attracted a long list of investors. The report frames the company’s listing not only as a capital-market milestone, but also as part of a broader pattern of professor-student startup teams in China’s robotics sector.