此外，乐动机器人对部分供应商和客户依赖度较高，且超7成部件来自外部采购，多重压力下公司IPO前景颇为堪忧。 连年亏损研发支出占比或跌近上市红线 客户自研和新竞争者加剧业绩压力 乐动机器人是以感知智能为基础的全栈式智能机器人公司，主要产品包括三角测距激光雷达、DTOF激光雷达、3D结构光传感器等。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 出品：新浪财经上市公司研究院 作者：昊 日前，深圳乐动机器人股份有限公司（以下称"乐动机器人"）向港交所递表，这是继其在今年5月30日递表失效后的第二次申请。 乐动机器人是以感知智能为基础的全栈式智能机器人公司，近年来订单量和营收增长显著，但仍处于持续亏损，传感器主业毛利率降至仅15.2%。公司不断 缩减研发投入力度，研发支出占比或已跌近港交所18C特专科技通道规定的15%上市红线。 不仅如此，石头科技、追觅科技等下游厂商纷纷进行自主研发、减少采购，而禾赛科技、速腾聚创等车载激光雷达厂商也已进入机器人领域，双重挤压下公 司未来业绩或面临更大压力。 主业承压之际，乐动机器人开始涉足割草机器人领域，打造第二增长曲线。然而，相比可比公司，乐动机器人负 ...

（来源：维科网机器人） 年末的港股市场，智能机器人企业掀起一场热闹的资本化"接力赛"。从商用服务赛道到控制领域，再到 核心感知技术板块，优地机器人、仙工智能、乐动机器人相继推进上市进程。这股上市热潮的背后，是 赛道规模的持续扩容与技术商业化的加速落地，正推着整个行业踩下发展的"油门"，朝着高质量赛道全 速疾驰。 优地机器人获中国证监会备案通知书 11月27日，优地机器人（无锡）股份有限公司（简称"优地机器人"）获得中国证监会境外上市备案通知 书。其拟发行不超过7360万股境外上市普通股，冲刺香港交易所主板挂牌。这一关键进展标志着优地机 器人赴港IPO进程迈入实质性落地阶段。 作为中国商用服务机器人产品和解决方案头部企业之一，优地机器人成立于2013年，致力于推动无人驾 驶技术和具身智能在室内室外的配送、清洁、安防和其它领域的商用落地。 来源：市场资讯 2007年，赵越考入浙江大学8年直博医学专业，却在2011年毅然退学转投智能控制领域读研。这场"弃医 从工"的跨界选择，最终催生出机器人行业的技术领军者。 仙工智能成立于2020年，以机器人控制系统为核心，提供控制器、软件、机器人的一站式解决方案，致 力于让各行 ...

Core Business Analysis - Shenzhen LDROBOT Co., Ltd. is preparing for an IPO on the Hong Kong Stock Exchange, aiming to raise funds for enhancing AI algorithms, optimizing production capacity, and exploring investment opportunities [1] - The company's visual perception products include sensors and DTOF laser radars, widely used in various robotic applications, making it one of the most comprehensive companies in this field [2] - The first growth curve is driven by visual perception technology, with products segmented into DTOF laser radar, triangulation laser radar, solid-state linear laser radar, and four-eye matrix sensor modules [2] Second Growth Curve - The smart lawn mower robot is emerging as the second growth curve, with the company expanding into the design and mass production of complete smart robot products [3] - The first-generation smart lawn mower robot achieved sales of over 10,000 units in 2024, while sales exceeded 15,000 units from early 2025 to May 23, 2025 [3] - By 2024, over 6 million smart robots equipped with the company's visual perception technology are expected to be in operation, with partnerships established with over 300 companies [3] Market Position and Competition - The company ranks first among those capable of designing and developing complete smart robots, serving over 50 countries and regions [5] - In 2024, the DTOF laser radar shipment exceeded 720,000 units, leading the industry, with major sales orders coming from vacuum cleaning robots [5] - Despite being a leader in visual perception technology, the company faces competition from other players, with a market share of only about 1.6% [7] Financial Performance - The company reported revenues of 234 million, 277 million, and 467 million RMB from 2022 to 2024, with visual perception products accounting for 94% of total revenue in 2024 [12] - The net losses for the same period were 73.1 million, 68.5 million, and 56.5 million RMB, indicating ongoing financial challenges [12] - R&D expenditures were significant, representing 41.4%, 34.7%, and 20.3% of revenue from 2022 to 2024, reflecting a focus on innovation and product development [13] Future Prospects - The company is expanding its international presence with operational centers in Singapore, Hong Kong, and Germany, and production partnerships in Vietnam [14] - With 252 patents and 24 software copyrights, the company is well-positioned for future growth, especially if it can successfully penetrate overseas markets [14]

Group 1 - The "World Robot Carnival" held in Wuhan showcased nearly a hundred robots, highlighting the interaction between technology and culture [1] - The event featured various types of robots, including a robot band, robotic pets, and makeup robots, providing visitors with unique experiences [1] Group 2 - Human-shaped robot companies are experiencing a surge in orders, with significant growth expected in 2025, marking it as a pivotal year for mass production [4] - Companies like Yushutech and Leju Robot reported substantial order increases, with Leju's Q1 orders up 200% year-on-year [4] - The "human content" ranking of the E Fund ETF is the highest among all tracked indices, reflecting strong market demand for human-shaped robots [4][2] Group 3 - Shenzhen Ledong Robot Co., Ltd. submitted its IPO application to the Hong Kong Stock Exchange, focusing on visual perception technology for various robotic applications [7] - Ledong is positioned as the largest global company in visual perception technology for smart robots, with over 6 million units expected to be equipped with its technology by 2024 [7] Group 4 - Yijiahe established a new subsidiary focused on intelligent robotics and AI applications, indicating a strategic expansion into cutting-edge technology [10] - The new company aims to leverage Yijiahe's resources and brand influence to accelerate development in the intelligent technology sector [10] Group 5 - Chaojie Co., Ltd. is focusing on human-shaped robots, having received small batch orders from clients including Zhiyuan Robotics [11] - The company is optimistic about the future of the human-shaped robot sector and is actively developing related products [11]