看好极智嘉长期价值，基石解禁窗口获雄安基金等力挺不减持

Core Viewpoint - The company, Geek+, is set to unlock its cornerstone investors' shares on January 9, 2024, with strong support from these investors for long-term growth despite the unlock [1] Group 1: Company Developments - Geek+ has relocated its headquarters to Xiong'an, integrating deeply into the robotics industry ecosystem, which is expected to drive innovation in the sector [1] - The company has been included in the Hang Seng Composite Index as of December 8, 2023, enhancing its market recognition and liquidity [2] - The company is expected to enter the Hong Kong Stock Connect on February 6, 2024, which will attract more mainland investors [2] Group 2: Technological Advancements - Geek+ is focusing on core technology development, particularly in embodied intelligence for warehouse automation, positioning itself as a leader in this field [3] - The company plans to launch a general-purpose warehouse robot soon, following the establishment of its embodied intelligence subsidiary in July 2025 [3] Group 3: Financial Performance - Geek+ reported a revenue of 1.025 billion yuan for the first half of 2025, a 31% year-on-year increase, with overseas revenue accounting for nearly 80% [4] - The company achieved a gross profit of 360 million yuan, a 43.1% increase year-on-year, and its adjusted EBITDA turned positive for the first time [4] - The company secured new orders worth 1.76 billion yuan in the same period, reflecting a 30.1% year-on-year growth [4] Group 4: Market Position - Geek+ has maintained its position as the global leader in the Autonomous Mobile Robot (AMR) market for seven consecutive years, with a market share that underscores its competitive edge [5] - The company has delivered over 66,000 robots across more than 40 countries, serving over 850 end customers, including over 65 Fortune 500 companies [5] Group 5: Industry Outlook - The global AMR solutions market is projected to grow at a compound annual growth rate of 33% from 2024 to 2029, with a market size expected to exceed 162 billion yuan by 2029 [6] - The penetration rate of AMR solutions in warehouse automation is anticipated to rise significantly, providing a strong foundation for the company's growth [6]