Warehouse robotics leader Geekplus has successfully listed on the Hong Kong Stock Exchange, achieving a significant financial turnaround with positive adjusted EBITDA and substantial revenue growth in its latest interim results. The listing marks a key milestone for the company, positioning it for further global expansion in the rapidly growing logistics automation market.

Robotics Leader Geekplus Completes Successful Hong Kong Listing Amidst Strong Financial Performance

Geekplus (Stock Code: 2590.HK), a global leader in intelligent robotics, has successfully completed its listing on the Main Board of the Stock Exchange of Hong Kong Limited (HKEX) on July 9, 2025. This marks a significant milestone for the company, establishing it as the world's first publicly listed entity within the AMR warehouse robotics market. The offering garnered substantial investor interest, with the Hong Kong public offering oversubscribed by 133.62 times and the international offering covered 30.17 times, positioning it among the top Hong Kong listings by international offering coverage multiple within the technology sector for the year.

Strong Financial Performance Drives Investor Confidence

The successful listing follows a period of robust financial performance for Geekplus. For the six months ended June 30, 2025, the company reported unaudited interim results demonstrating significant growth and a critical inflection point towards profitability. Revenue for the period surged by 31.0% year-over-year to RMB 1.025 billion. Gross profit experienced an even greater increase of 43.1%, reaching RMB 360 million, with the gross margin improving to 35.1%.

A key financial highlight was the achievement of the company's first positive adjusted EBITDA, reaching RMB 11.62 million. This represents a dramatic turnaround from a negative RMB 169.83 million in the same period of 2024, signaling a fundamental enhancement in profitability. The adjusted net loss also narrowed significantly by 94.0% to RMB 11.9 million. Order intake demonstrated robust growth, increasing by 30.1% to RMB 1.760 billion, which included a single order exceeding RMB 100 million. International markets played a crucial role in this performance, contributing 79.5% of total revenue with a strong gross margin of 46.2% from international business operations.

Market Leadership and Strategic Position

Geekplus has maintained its dominant position as the world's largest warehouse fulfillment robotics solution provider for the sixth consecutive year, based on 2024 revenue. The company serves a diverse and expansive client base, including over 65 Forbes Global 500 companies and more than 850 end customers globally, with operations spanning over 40 countries and regions. Notable clients include major players like Walmart, Adidas, and UPS. The company boasts a high customer repurchase rate, exceeding 80%, underscoring the effectiveness and value of its solutions. In the first half of 2025, Geekplus expanded its client portfolio by adding over 60 new customers, with significant traction observed in the grocery retail and food and beverage sectors.

The company's financial discipline, coupled with its focus on full-stack AI technology, creates substantial barriers to entry for competitors and positions Geekplus as a leader in AI-driven robotics commercialization. The success of its global strategy is evident in the substantial revenue generated from international markets.

Expert Insights and Future Outlook

The successful HKEX listing and strong financial results underscore the capital markets' strategic consensus on the growing robotics sector and their recognition of Geekplus' commercialization capabilities and technological value. Mr. Yong Zheng, Founder, Chairman, and CEO of Geekplus, highlighted the company's vision:

"Since its inception, Geekplus has focused on revolutionizing global supply chain efficiency paradigms through robotic intelligence. Listing on the international capital markets marks a new starting point for Geekplus, enabling us to harness the twin engines of capital and technology. Moving forward, Geekplus will actively capture the vast market opportunities presented by the industry's rapid growth, fueled by technological innovation, to steadily expand our global strategic footprint. We aim to establish robotics as the foundational engine of the new era, creating a smarter, more efficient, and greener intelligent future for the world."

Looking ahead, Geekplus plans to further advance embodied intelligence through research and development, deepen its global market penetration, prioritize ESG-driven sustainable development, and invest in talent to reinforce its industry leadership. These strategic initiatives are designed to capitalize on the rapidly expanding global warehouse automation market, which is driven by escalating e-commerce demand and rising labor costs, and to foster long-term value creation for investors.