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港股机器人最大 IPO!国配超30倍认购,极智嘉 正式登陆港交所
Zhi Tong Cai Jing·2025-07-09 06:52

Core Insights - The successful IPO of Geek+ (02590) on the Hong Kong Stock Exchange marks the largest scale IPO for a robotics company, establishing it as the "first global AMR warehouse robotics stock" and reflecting international confidence in China's smart robotics sector [1][2] - The IPO was highly sought after, with oversubscription rates of 133.62 times for the public offering and 30.17 times for international placement, setting records for the Hong Kong tech sector [1][4] - Geek+ has maintained its position as the largest provider of AMR warehouse solutions globally for six consecutive years, with projected revenue of 2.409 billion yuan in 2024, making it the largest revenue-generating company in the Hong Kong robotics sector [2][4] Financial Performance - Geek+ has demonstrated strong business and financial growth, achieving a compound annual growth rate (CAGR) of 45% in revenue from 2021 to 2024, with an expected total revenue of 2.409 billion yuan in 2024 [4][7] - The company has significantly reduced its adjusted EBITDA loss to -25 million yuan in 2024, with an adjusted net loss rate of 3.8%, positioning it to potentially become a profitable model in the robotics industry [4][7] International Expansion - Geek+ has established a robust international presence, with over 70% of its revenue coming from overseas markets, including 44% from Europe, the Middle East, and Africa [5][6] - The company has built a wide service network with 48 service stations and 13 spare parts centers across more than 40 countries, serving over 800 clients, including over 60 Fortune 500 companies [5][6] Technological Advancements - The company's proprietary Robot Matrix technology platform supports rapid iteration and customization of AMR devices, enabling efficient operations with over 5,000 devices working in parallel [6][7] - Geek+ has successfully bridged the gap between technological breakthroughs and commercialization, showcasing a successful model in the B2B robotics sector [7][8] Market Impact - The IPO of Geek+ is expected to attract more robotics companies to list in Hong Kong and highlights the strength of Chinese technology firms, potentially drawing continued international investment into quality Chinese tech assets [8]