On July 9, Chinese intelligent robotics company Geek+ Robotics (stock code: 02590.HK) successfully listed on the main board of the Hong Kong Stock Exchange. This marks Geek+ Robotics as the first publicly listed company in the global AMR (Autonomous Mobile Robot) warehouse robotics market. The company priced its shares at HKD 16.80 per share, with a market capitalization of HKD 22.19 billion.
Geek+ Robotics leads the global AMR market and is the largest provider of warehouse fulfillment AMR solutions globally (based on 2024 revenue). Its self-developed large-scale multi-robot hybrid scheduling system supports over 5,000 devices operating in parallel within a single warehouse and has extensive real-world deployment experience, creating a core technological barrier for handling the complex scenarios of super-large warehouses. In terms of product strategy, the company offers comprehensive robot solutions for various warehouse scenarios, with all robots capable of collaborative scheduling under a unified software platform. This creates an integrated robot solution covering the entire process from material handling, picking, sorting, to restocking.
In 2024, the company’s revenue grew by 12.4% year-on-year to CNY 2.41 billion, and gross profit increased by 27.0% to CNY 837 million, with a significant rise in gross margin to 34.8%. Geek+ Robotics is now the largest revenue-generating company among the publicly listed robotics firms in Hong Kong, with continuous improvements in both its gross profit structure and operational efficiency. The company's annual order volume has increased from CNY 1.59 billion in 2021 to CNY 3.14 billion in 2024, with steadily growing signed customer orders.
Source: Geek+ Robotics Prospectus
From the outset, Geek+ Robotics has strategically expanded into overseas markets. As Chinese companies like CATL accelerate their global expansion by establishing production bases worldwide, Geek+ Robotics has followed suit in extending its international presence. Additionally, thanks to the significant advantages its innovative products provide in enhancing customer operational efficiency, Geek+ Robotics' solutions have been adopted by numerous multinational companies, expanding from their China operations to Europe, Japan, and North America.
The company has keenly capitalized on this internationalization opportunity, and its overseas business expansion is progressing smoothly. By 2024, Geek+ Robotics’ business has reached over 40 countries and regions globally, serving more than 800 major global clients and deeply penetrating industries like 3PL (third-party logistics) and e-commerce. In 2024, 72.1% of Geek+ Robotics' AMR solution revenue came from markets outside mainland China.