极智嘉放量暴涨8.5%再创新高！营收毛利双增，即将盈利，德银、招银齐呼“买入”

Core Viewpoint - The stock of Geekplus Technology (2590.HK) has surged significantly, reaching a historical high with a market capitalization exceeding HKD 31 billion, driven by strong interim performance and growth in orders [1][2] Financial Performance - Geekplus reported a 31% year-on-year increase in revenue to HKD 1.025 billion, with non-mainland China revenue accounting for 79.5% [1] - Gross profit rose by 43.1% to HKD 360 million, resulting in a gross margin of 35.1% [1] - Adjusted EBITDA turned positive at HKD 11.62 million, marking it as the first profitable robotics company listed in Hong Kong [1] Order Growth - The company achieved a significant order growth, recording orders of HKD 1.76 billion, a 30.1% increase year-on-year, with the largest single order exceeding HKD 100 million [1] - As of June 30, 2025, Geekplus's products will cover over 850 end customers across more than 40 countries and regions, with cumulative robot deliveries exceeding 66,000 units and a customer repurchase rate above 80% [1] Analyst Ratings and Projections - Deutsche Bank raised its target price for Geekplus from HKD 23.5 to HKD 26, maintaining a "Buy" rating, citing strong performance and expected high sales growth in the second half of the year [1] - CMB International reiterated a "Buy" rating with a target price of HKD 26.7, forecasting steady revenue growth and profitability improvements driven by new product lines [2] - Industrial Securities initiated coverage with an "Overweight" rating, highlighting Geekplus as a leader in global warehouse fulfillment AMR, with significant growth potential and high customer repurchase rates [2]