SIASUN(SZ:300024) Zhi Tong Cai Jing·2025-09-25 13:36Core Viewpoint - Guangzhou XAG Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International as its sole sponsor [1]. Company Overview - XAG Technology is a leading global agricultural robotics company focused on enhancing agricultural productivity. It ranks second in the global agricultural robot and agricultural drone markets with market shares of 10.7% and 17.1% respectively for the year 2024, according to Frost & Sullivan [3]. - The company has developed a range of intelligent agricultural robots that integrate advanced robotics, smart technology, and renewable energy, addressing the significant global agricultural challenge of labor shortages [3]. Product Development - In less than a decade, agricultural drones have become essential in Chinese agriculture. XAG Technology has expanded its product offerings to include agricultural unmanned vehicles, autonomous farming devices, and smart farm IoT products [9]. - The agricultural drones developed by the company can perform precise spraying, intelligent sowing, and field monitoring, even in complex terrains such as paddy fields, orchards, and hilly areas, providing efficient, flexible, and environmentally friendly solutions [9]. - The agricultural unmanned vehicles complement the drones by meeting diverse farming needs in economic crop planting scenarios, featuring functions like precise pesticide spraying and agricultural material transportation [10]. - The company has also developed autonomous driving devices for tractors, transplanters, and harvesters, allowing for automated and precise agricultural operations [11]. Financial Performance - The company reported revenues of approximately RMB 605 million, RMB 614 million, RMB 1.066 billion, and RMB 745 million for the years 2022, 2023, 2024, and the first half of 2025 respectively. The profit and total comprehensive income for the same periods were approximately -RMB 254 million, -RMB 133 million, RMB 70.4 million, and RMB 130 million [11][12].