来源：IPO早知道 极智嘉有望成为最先盈利的港股上市机器人公司。 据IPO早知道消息，北京极智嘉科技股份有限公司（以下简称"极智嘉"，2590.HK）于8月29日发布2025 年中期业绩报告，这也是极智嘉自今年7月9日登陆港交所以来发布的首份业绩报告。 财报显示，极智嘉今年上半年营收10.25亿元，同比增长31.0%；毛利3.60亿元，同比增长43.1%，毛利 率则进一步提升至35.1%，其中来自中国大陆以外地区的毛利率达46.2%。 得益于营收规模和毛利的增加、以及成本费用的控制，极智嘉今年上半年的经调整净亏损同比收窄 94.0%，经调整EBITDA更是实现转正，盈利能力进一步增强，逼近盈利拐点。 换言之，极智嘉继续保持港股机器人板块"营收规模最大、盈利表现最优"的地位。 近期，多家国内外顶级机构一致看好极智嘉并首次覆盖，招银国际、中信证券、德意志银行给予"买 入"评级，摩根士丹利给予"增持"评级，均看好极智嘉"AI+机器人"核心优势及未来潜力。招银国际指 出，作为港股市场首个仓储移动机器人（AMR）企业，极智嘉具备稀缺性价值。 上海西门子是西门子全球供应链的重要一环，承担着中压开关设备的核心生产任务，物料 ...

Core Viewpoint - Beijing Geek+ Technology Co., Ltd. (Geek+) is expected to become the first profitable robotics company listed in Hong Kong, showcasing strong revenue growth and improving profitability metrics since its IPO on July 9, 2023 [3][4]. Financial Performance - For the first half of 2025, Geek+ reported revenue of 1.025 billion RMB, a year-on-year increase of 31.0%, and a gross profit of 360 million RMB, up 43.1%, with a gross margin of 35.1% [3]. - The adjusted net loss narrowed by 94.0% year-on-year, and adjusted EBITDA turned positive, indicating a strengthening in profitability [3]. Market Position - Geek+ maintains the largest revenue scale and best profitability in the Hong Kong robotics sector, with several top-tier institutions initiating coverage and issuing "buy" or "overweight" ratings based on its "AI + robotics" core advantages [4]. Customer Base and Orders - As of June 30, 2025, Geek+ has over 850 end customers across more than 40 countries, including over 65 Fortune 500 companies, with a cumulative delivery of over 66,000 robots and a customer repurchase rate exceeding 80% [5]. - The total order amount for the first half of the year reached 1.76 billion RMB, a 30.1% increase year-on-year, with over 60 new end customers added [7]. International Expansion - Geek+ generated 815 million RMB in revenue from non-mainland China, accounting for 79.5% of total revenue, driven by repeat customers in e-commerce, fashion, and third-party logistics [12]. - The company has established over 52 service stations globally and has implemented benchmark projects in various countries, significantly enhancing logistics efficiency [14][16]. Technological Advancements - Geek+ has launched a wholly-owned subsidiary focused on embodied intelligence, aiming to develop technologies for general-purpose robots and mechanical arms, which will complement its existing logistics robot business [17][19]. - The company introduced the Geek+ Brain model and a new mechanical arm operation technology, addressing challenges in automated picking across diverse product types [21]. Future Growth Potential - The focus on embodied intelligence is expected to be a new growth point for Geek+, with a strategic direction aimed at solving real-world warehouse challenges to generate quantifiable commercial value [21]. - With its deep understanding of warehouse scenarios and existing customer resources, Geek+ is well-positioned to capture market opportunities and achieve exponential growth in the future [21].