Core Viewpoint - Daito has initiated coverage on Geek+, giving it a "Buy" rating with a target price of HKD 38, highlighting its leadership in the global warehouse automation mobile robot solutions market with a 9% market share [1] Company Summary - Geek+ is recognized as a leader in warehouse automation mobile robot solutions, providing a comprehensive automation solution that includes AMR and self-developed software [1] - The company is the only publicly listed pure AMR company, positioning it to capitalize on significant market growth [1] Industry Summary - Currently, AMR accounts for only 8% of the global warehouse automation market, with only 22.5% of warehouses globally automated, indicating substantial growth potential [1] - The forecast for global AMR revenue is a compound annual growth rate (CAGR) of over 30% from 2024 to 2029, reflecting the expanding market opportunities [1]