作者 | 张子怡 编辑 | 袁斯来 在丰疆智能香港总部，董事长吴迪说这里没有自己的办公室。他也不需要专属的办公室。 吴迪说话十分简洁、快速，只有看到产品视频时他情绪才有所起伏，外界戏称他"农机狂人"。 他在全世界跑来跑去，在香港机场，他通宵调试划线机器人；在爱沙尼亚牧场，他在调试堆料机器 人......割草机机器人在客户的那里跑线跑不直时，他早上五点到现场，连续调试了一个月......他说：很少 有CEO会一直在一线调产品，但他会。 如吴迪这样履历背景的人，创业时很少会切入农业。他在北欧读博、研发过手机芯片，也在苏州大学担 任过教授；创立丰疆智能前，吴迪在大疆担任过首席科学家。 但吴迪仍然无法安心，在办公室里搞研究，他觉得自己离真实的世界很远。 在农业赛道站稳脚跟的丰疆智能，财务情况却压力不小，截至2025年6月30日，公司已累计亏损21.62亿 元；丰疆解释称，历史累计亏损主要源于非经营性项目等项目的公允价值变动。截止至2025年6月30日 止6个月期间，集团已实现扣除非经营性项目的调整后利润0.14亿元。 近些年，丰疆智能还在尝试开辟新的赛道、新的市场，开始布局建筑、物业管理等行业。截至2025年前 6月 ...

Core Viewpoint - The article discusses the journey and challenges of Fengjiang Intelligent, a leading player in the global agricultural robotics market, as it prepares for an IPO in Hong Kong. The company, founded by Wu Di, aims to revolutionize agriculture by automating 80% of labor-intensive tasks, despite facing significant financial losses and competition in a rapidly evolving market [5][16]. Group 1: Company Overview - Fengjiang Intelligent holds a market share of 8.5% in the agricultural robot sector, ranking third globally, and 16.9% in the aftermarket kit segment, ranking second [5][25]. - The founder, Wu Di, has a strong academic background and previously served as the chief scientist at DJI, which adds credibility to the company's technological ambitions [5][10]. - The company has accumulated losses of approximately 1.3 billion yuan over three and a half years, highlighting the financial challenges faced in the agricultural technology sector [5][13]. Group 2: Business Strategy and Challenges - Fengjiang Intelligent focuses on automating ground agricultural machinery, believing that the core of agricultural production lies in ground-level operations [14][16]. - The company has adopted a modular design for its products, allowing for flexible and cost-effective solutions that appeal to small and medium-sized farms [15][25]. - Despite a slight increase in revenue from 2022 to mid-2025, the company continues to face significant financial pressures due to high R&D costs and market expansion efforts [19][22]. Group 3: Market Landscape - The global agricultural robotics market is projected to grow from approximately $13.5 billion in 2024 to about $27.6 billion by 2029, indicating substantial growth potential [25][26]. - The Chinese smart agricultural machinery market is expected to rise from 11.8 billion yuan in 2024 to 22.4 billion yuan in 2025, reflecting rapid development in this sector [25][26]. - Fengjiang Intelligent faces competition from established agricultural machinery giants like John Deere and local tech firms such as XAG Technology, which complicates its market positioning [27][28]. Group 4: Financial Outlook and Future Prospects - The company has seen its operating cash flow turn positive for the first time in mid-2025, achieving a net inflow of 77.53 million yuan, which is a significant milestone [22][30]. - The reliance on a single business segment, particularly in agriculture, poses operational risks, prompting the company to diversify into construction and property management [19][21]. - The upcoming IPO in Hong Kong is viewed as a critical step in the company's capital strategy, potentially providing the necessary funds to navigate its financial challenges and support growth initiatives [23][30].