极智嘉将进入解禁期：雄安基金等基石投资者表态不减持

Core Viewpoint - The company Geek+ (2590.HK) is entering its first lock-up period post-IPO on January 9, 2026, with cornerstone investors indicating long-term support despite the lock-up expiration [2][4]. Group 1: Company Overview - Geek+ was listed on the Hong Kong Stock Exchange in July 2025, with an issue price of HKD 16.8, raising a total of HKD 27.1162 billion, making it the world's first stock for Autonomous Mobile Robots (AMR) in warehousing [2]. - The cornerstone investors include Xiong'an Robot, Arc Avenue, Eastspring Investments, and Yige, collectively investing USD 91.3 million, with Xiong'an Robot being the largest investor at USD 41.3 million [2][3]. Group 2: Financial Performance - For the first half of 2025, Geek+ reported revenue of RMB 1.024 billion, a 31% increase from RMB 782.5 million in the same period of 2024 [6][7]. - The company achieved a gross profit of RMB 359.9 million, up 43.1% from RMB 251.5 million year-on-year [9]. - Adjusted EBITDA turned positive for the first time, with a narrowed adjusted net loss of RMB 11.89 million compared to RMB 197 million in the previous year [9]. Group 3: Market Position and Growth - Geek+ has maintained the largest market share in the global AMR sector for seven consecutive years, with operations in over 40 countries and regions, delivering over 66,000 robots to more than 850 clients, including over 65 Fortune 500 companies [10][12]. - The company recorded new orders of RMB 1.76 billion in the first half of 2025, a 30.1% increase year-on-year, indicating strong demand from core verticals such as e-commerce and logistics [8]. Group 4: Industry Outlook - The global AMR solutions market is expected to grow at a compound annual growth rate (CAGR) of 33% from 2024 to 2029, potentially exceeding RMB 162 billion by 2029 [10]. - Geek+ is focusing on "scene-first" strategies to capture advantages in embodied intelligence within the warehousing automation sector, with plans to release a new general-purpose warehouse robot soon [11][12].