Core Viewpoint - The company, 越疆 (Yujiang), reported a significant increase in revenue and a reduction in net losses for the first half of 2023, driven by the growing penetration of collaborative robots in various industries [1] Financial Performance - The company achieved a revenue of 153 million yuan, representing a year-on-year growth of 27.1% [1] - The net loss was approximately 40 million yuan, a decrease of 31.8% compared to the same period last year [1] - Adjusted net loss was around 23 million yuan, down 34.4% year-on-year [1] Market and Product Development - The growth in performance was attributed to the increased market penetration of collaborative robots, particularly in the automotive, 3C electronics, medical, and commercial retail sectors [1] - Sales of six-axis collaborative robots increased, with their revenue accounting for 61% of total revenue in the first half of the year [1] - Domestic revenue grew by 56.7% year-on-year [1] Milestones and Innovations - The company successfully rolled out its 100,000th collaborative robot, becoming the first in the industry to achieve this milestone [1] - For 2025, the company is expanding into the embodied intelligence sector, launching the world's first "dexterous manipulation + bipedal walking" humanoid robot and a "six-legged bionic robot" [1]

本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 【越疆2025年中期业绩亮眼，全形态具身机器人平台受关注】8月28日，越疆公布2025年中期业绩。其 全面布局具身智能赛道，成全球首家推出"机械臂+人形+多足"全形态具身机器人平台企业。 虽面临复 杂宏观环境及关税贸易政策不确定性，上半年越疆仍业绩亮眼。收入1.53亿元，同比增27.1%，较2024 年同期9.6%增速显著提升。国内收入大增56.7%，六轴收入占比61%。 商业领域收入暴增165.5%。凭借 全栈自研技术和丰富产品矩阵，产品应用于多领域，覆盖超100个国家和地区。 上半年，越疆毛利率从 2024年同期43.9%提至47%。净亏损40.9百万元，较上年同期减31.8%；经调整后净亏损22.9百万元，较 上年同期减34.4%。 ...

Core Insights - The company reported a significant revenue increase of 27.1% year-on-year, reaching 153 million RMB in the first half of 2025, which is a notable improvement compared to the 9.6% growth in the same period of 2024 [1][3] - The gross margin improved from 43.9% in 2024 to 47% in 2025, indicating enhanced profitability [1][3] - The net loss decreased by 31.8% to 40.9 million RMB, while the adjusted net loss was reduced by 34.4% to 22.9 million RMB [1][3] Revenue Breakdown - Domestic revenue saw a substantial increase of 56.7%, highlighting strong performance in the local market [1][3] - The six-axis product revenue accounted for 61% of total revenue, indicating a strong market position in this segment [1][3] Technological Advancements - The company has made breakthroughs in product and technology innovation, becoming the first globally to launch a comprehensive embodied robot platform that includes "robotic arm + humanoid + multi-legged" configurations [1][3] - The company operates in various sectors, including industrial manufacturing, commercial retail, medical surgery, health therapy, and scientific education, with applications in over 100 countries and regions [1][3]

Core Insights - The company, Yuejiang (02432HK), has made significant advancements in the field of embodied intelligence, becoming the first globally to launch a comprehensive robotic platform that integrates "robotic arms, humanoids, and multi-legged robots" [1][3] - Despite facing a complex macroeconomic environment and uncertainties related to tariffs and trade policies, the company reported impressive performance for the first half of 2025, with revenue reaching 153 million RMB, a year-on-year increase of 27.1%, significantly higher than the 9.6% growth rate in the same period of 2024 [1][3] Financial Performance - The company's revenue for the first half of 2025 was 153 million RMB, reflecting a 27.1% increase compared to the previous year [1][3] - Domestic revenue saw a substantial growth of 56.7%, with six-axis revenue accounting for 61% of total revenue [1] - The gross margin improved from 43.9% in the same period of 2024 to 47% [3] - The net loss was reported at 40.9 million RMB, a reduction of 31.8% compared to the previous year, while the adjusted net loss was 22.9 million RMB, down 34.4% year-on-year [3] Market Expansion - The company has leveraged its full-stack self-research capabilities and diverse product matrix, with applications across various sectors including industrial manufacturing, commercial retail, medical surgery, health therapy, and educational research [3] - Yuejiang's products are now utilized in over 100 countries and regions worldwide, indicating a strong global presence [3]

Core Viewpoint - The company reported a revenue of 153 million RMB for the first half of 2025, reflecting a year-on-year growth of 27.1%, despite facing a complex macroeconomic environment and uncertainties in trade policies [1] Financial Performance - Revenue reached 153 million RMB, marking a 27.1% increase compared to the previous year [1] - The loss attributable to the parent company was 40.87 million RMB, which represents a 31.8% reduction year-on-year [1] - Basic loss per share was reported at 0.10 RMB [1] Strategic Initiatives - The company implemented a dual strategy focusing on "collaborative robot intelligent upgrades and embodied intelligent robot innovations," which served as a driving force for product and technological breakthroughs [1] - The strategic initiatives contributed to maintaining continuous growth in performance despite external challenges [1]

Core Viewpoint - The company reported a significant increase in revenue and a reduction in net loss, indicating resilience and growth in a challenging economic environment [1] Financial Performance - Revenue for the six months ending June 30, 2025, increased by 27.1% to RMB 153 million [1] - The net loss attributable to equity shareholders narrowed by 31.8% to RMB 40.9 million [1] - The diluted loss per share decreased from RMB 0.17 to RMB 0.10, a reduction of RMB 0.07 [1] Company Overview - The company is a leading player in the development, manufacturing, and commercialization of collaborative robots [1] - It has a comprehensive self-research technology capability and a diverse product matrix, with applications across various sectors including industrial manufacturing, retail, medical surgery, health therapy, and education [1] - The company operates in over 100 countries and regions globally [1] Strategic Initiatives - In 2025, the company plans to fully enter the embodied intelligence sector, aiming to be the first globally to launch a "robotic arm + humanoid + multi-legged" full-form embodied robot platform [1] - The company is pursuing a dual strategy of "collaborative robot intelligent upgrade + embodied intelligent robot innovation" to drive product and technological breakthroughs [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SHENZHEN DOBOT CORP LTD 深圳市越疆科技股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2432） 截至二零二五年六月三十日止六個月的中期業績公告 財務摘要 深圳市越疆科技股份有限公司（「本公司」）董 事（「董 事」）會（「董事會」）謹此宣佈 本公司及其附屬公司（統 稱「本集團」或「我 們」）截 至2025年6月30日止六個月（「報 告期間」或「期 內」）之 未 經 審 計 簡 明 綜 合 業 績，連 同2024年 同 期 之 比 較 數 字。該 等未經審計簡明綜合業績已經本公司審核委員會（「審核委員會」）審 閱。 – 1 – • 營業收入由截至2024年6月30日止六個月的人民幣120.5百萬元增加27.1% 至截至2025年6月30日止六個月的人民幣153.1 ...

智通财经APP获悉，大和发布研报称，首予越疆(02432)"买入"评级及目标价65.5港元，相信公司将成为 具竞争力的人形机械人企业，利用其在协作机械人(cobot)市场的领导地位，在同行中取得竞争优势，从 而带来长期的收入上升。报告指出，根据越疆管理层指引，一旦公司收入增至1亿美元，便可实现盈亏 平衡。该行预计，公司受惠于协作机械人销售量上升和稳定的毛利率，在2026年的净亏损将收窄至约 1,000万元人民币，料公司届时将接近盈亏平衡。 ...

大和发布研报称，首予越疆(02432)"买入"评级及目标价65.5港元，相信公司将成为具竞争力的人形机械 人企业，利用其在协作机械人(cobot)市场的领导地位，在同行中取得竞争优势，从而带来长期的收入上 升。报告指出，根据越疆管理层指引，一旦公司收入增至1亿美元，便可实现盈亏平衡。该行预计，公 司受惠于协作机械人销售量上升和稳定的毛利率，在2026年的净亏损将收窄至约1,000万元人民币，料 公司届时将接近盈亏平衡。 ...

大和发表研究报告，首予越疆(2432.HK)买入评级及目标价65.5港元，相信公司将成为具竞争力的人形 机械人企业，利用其在协作机械人(cobot)市场的领导地位，在同行中取得竞争优势，从而带来长期的收 入上升。报告指出，根据越疆管理层指引，一旦公司收入增至1亿美元，便可实现盈亏平衡。该行预 计，公司受惠于协作机械人销售量上升和稳定的毛利率，在2026年的净亏损将收窄至约1000万元人民 币，料公司届时将接近盈亏平衡。 ...