完成10轮融资，珞石机器人赴港IPO

Core Viewpoint - Luoshi Robotics has submitted its prospectus to the Hong Kong Stock Exchange, indicating its intention to go public after a series of financing rounds and a significant expansion in operations [1][3]. Financial Performance - Revenue for Luoshi Robotics is projected to grow from 153 million yuan in 2022 to 267 million yuan in 2023, and further to 325 million yuan in 2024 [3]. - Gross profit is expected to increase from 10.64 million yuan in 2022 to 30.57 million yuan in 2023, and reach 71.19 million yuan in 2024, with corresponding gross margins of 7%, 11.4%, and 21.9% [3]. - The company has reported increasing net losses, with figures of 238 million yuan in 2022, 157 million yuan in 2023, and 192 million yuan in 2024, resulting in loss rates of 155.6%, 59%, and 59% respectively [3]. - Cumulative losses over three and a half years amount to 677 million yuan [3]. Research and Development - R&D expenditures have shown a declining trend, with spending of approximately 67.2 million yuan in 2022, 59.4 million yuan in 2023, 54.2 million yuan in 2024, and 25.9 million yuan in the first half of 2025, representing a decrease in percentage of total revenue from 44.0% to 14.7% [3]. Market Position - Luoshi Robotics is one of the few companies in China that produces both industrial and collaborative robots, ranking third among domestic manufacturers and seventh globally in multi-joint robot sales as of 2024 [3]. Client Base - The company serves over 1,000 clients across approximately 40 countries and regions, including major clients like Xiaomi and Goer, as well as partnerships in the automotive, renewable energy, medical, and general manufacturing sectors [4]. Shareholding Structure - The ultimate controlling shareholder of Luoshi Robotics is Tuo Hua, who holds 13.46% of the shares, with other significant shareholders including various investment firms [5]. Credit Risk - Luoshi Robotics faces credit risks related to its clients, with trade receivables increasing from 74.5 million yuan in 2022 to 226 million yuan in the first half of 2025, and trade receivables turnover days rising from 164.3 days to 223.7 days during the same period [5].