农业机器人公司，冲刺港股IPO

Core Viewpoint - Fengjiang Intelligent, an agricultural robotics company, submitted its application for listing on the Hong Kong Stock Exchange on September 26, 2023, aiming to enhance its market presence and capitalize on growth opportunities in the agricultural automation sector [1]. Financial Performance - The company reported revenues of 504 million RMB, 530 million RMB, and 570 million RMB for the years 2022, 2023, and 2024 respectively, with losses of 333 million RMB, 471 million RMB, and 334 million RMB during the same periods [2][13]. - In the first half of 2023, Fengjiang Intelligent achieved a revenue of 358 million RMB, representing a year-on-year growth of 49.54%, while incurring a loss of 151 million RMB [1][13]. Product and Market Position - Fengjiang Intelligent launched its agricultural automatic navigation system suite in 2019, which has seen rapid sales growth, becoming the top seller in the Chinese market and expanding into overseas markets [3][11]. - The company holds a 16.9% global market share in the agricultural retrofit navigation system segment, ranking second globally, and is among the top three in total agricultural robot shipments [6][7]. Revenue Breakdown - Revenue from the agricultural and livestock sector accounted for 94.7%, 88.8%, 77.8%, and 73.3% of total revenue from 2022 to 2024, while contributions from construction and property management increased from 1.8% to 13.1% during the same period [4][5]. Geographic Revenue Distribution - By 2024, Europe became the largest revenue source for Fengjiang Intelligent, contributing 52.8% of total revenue, while revenue from the Asian market decreased from 71.03% in 2022 to 32.9% in 2024 [13]. Investment and Financial Obligations - As of June 30, 2025, Fengjiang Intelligent had accumulated losses of 2.162 billion RMB, and approximately 660 million preferred shares constituted financial liabilities of 1.777 billion RMB [13][14].