【IPO前哨】从扫地到割草，乐动机器人IPO背后的智能硬件新战场

Core Viewpoint - The IPO of Shenzhen Ledong Robot Co., Ltd. reflects the booming yet challenging landscape of the AI and robotics sector, highlighting both the recognition of its visual perception technology and the pressures from intense market competition [7] Group 1: Company Overview - Ledong Robot, founded in 2017, is a full-stack intelligent robotics company focused on perception intelligence, with a core emphasis on visual perception technology [2] - The company has developed a range of visual perception products, including sensors and laser radar, which are widely used in various robotic applications such as cleaning and service robots [2] - By 2024, Ledong Robot is projected to be the largest global company in the intelligent robotics sector based on visual perception technology, with over 6 million robots equipped with its technology [2] Group 2: Financial Performance - Ledong Robot's total revenue is expected to grow from 234 million RMB in 2022 to 467 million RMB in 2024, driven by the sales of visual perception products [3] - Despite significant revenue growth, the company has faced continuous losses over the past three years, with losses of 73.1 million RMB, 68.5 million RMB, and 56.5 million RMB respectively [4] - The gross margin for visual perception products has declined from 27.7% in 2022 to 18.8% in 2024, attributed to price reductions to maintain market share and the lower margins of sensor products [6] Group 3: Market Position and Challenges - Ledong Robot has established partnerships with over 300 robotics companies and serves customers in more than 50 countries, indicating a strong market presence [3] - The company is experiencing intense market competition, leading to price cuts to retain market share, which poses a challenge to profitability [5] - The global market for intelligent robotics visual perception technology is highly competitive, with the top five companies holding only about 6.2% market share, intensifying the pressure on Ledong Robot [6]