SIASUN(SZ:300024) Zheng Quan Shi Bao·2025-12-02 05:10Core Viewpoint - Ledong Robotics has submitted its IPO application to the Hong Kong Stock Exchange, aiming to leverage its expertise in intelligent robot visual perception technology for growth in the rapidly expanding smart robotics market [1][3]. Company Overview - Ledong Robotics, established in 2017 and converted to a joint-stock company in 2022, focuses on developing intelligent robot infrastructure centered around visual perception technology [3]. - The company provides visual perception products and complete intelligent robot solutions for various applications, including cleaning robots, lawn mowers, service robots, and logistics robots [3]. Financial Performance - Ledong Robotics reported revenues of 234 million yuan, 277 million yuan, and 467 million yuan for the years 2022, 2023, and 2024, respectively, with a 97% year-on-year revenue growth in the first half of the current year, totaling 386 million yuan [3][4]. - Despite revenue growth, the company has been operating at a loss, with net losses of 73.13 million yuan, 68.49 million yuan, and 56.48 million yuan projected for 2022, 2023, and 2024, respectively, and a loss of 13.78 million yuan in the first half of this year [4]. Market Potential - The global smart robotics market is projected to grow from 158.3 billion yuan in 2020 to 369 billion yuan by 2024, with a compound annual growth rate (CAGR) of 23.6%, and expected to reach 1,005.8 billion yuan by 2029, with a CAGR of 22.2% from 2024 to 2029 [8]. - Ledong Robotics is positioned as the largest company globally in the visual perception technology sector for intelligent robots, with over 6 million units expected to be equipped with its technology by 2024 [3][8]. Investment and Funding - Ledong Robotics has attracted significant investment from notable capital firms, completing multiple funding rounds since its inception, with the latest being a Series C round in February 2022 [6][8]. - Investors include prominent names such as Deep High-tech Investment, Hupu Capital, and Yuanjing Capital, indicating strong market confidence in the company's potential [6]. Future Plans - The funds raised from the IPO are intended to enhance research and development in intelligent robot visual perception technology, upgrade AI algorithms, optimize product offerings, and expand production capacity and overseas market presence [9].