Dreame Technology, a China-based maker of robotic vacuum cleaners and smart home appliances, is considering a Hong Kong initial public offering as soon as 2027.

The share sale could raise several hundred million dollars, though the size and timing may still change.

Public estimates put the company’s 2023 revenue at 8 billion yuan (US$1.18 billion).

Its founder also said revenue could top 10 billion yuan (US$1.48 billion).

Dreame joined Xiaomi’s ecosystem in 2017, and Xiaomi Group was among the existing investors in its series C round.

In the global smart vacuum market, Dreame held an 11.3% share by units in the first quarter of 2025. The company ranked third behind Roborock and Ecovacs.

The listing comes as Hong Kong recorded more than US$36 billion in initial public offering proceeds in 2025, though newly listed companies have broadly underperformed.

It would also align with a wider shift by mainland Chinese issuers toward Hong Kong.

🔗 Source: Bloomberg