Hong Kong, July 9, 2025 – Geekplus (Stock Code: 2590.HK), the global leader in warehouse robotics, successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited (HKEX) today. This establishes Geekplus as the world's first publicly listed company in the AMR warehouse robotics market, marking a significant milestone for the global industry and ushering in a new phase of technology, commercialization and scale expansion for the company.
This IPO represents the largest H-share IPO by a robotics company to date and the largest non-"A+H" technology IPO in Hong Kong this year.
The offering garnered exceptionally strong market demand, with the Hong Kong public offering oversubscribed by 133.62 times and the international offering covered 30.17 times. This places it among the top 3 Hong Kong listings this year by international offering coverage multiple and estabilised a record-breaking coverage multiple for the Hong Kong technology sector. Sovereign wealth funds, numerous international long-only funds, dedicated technology funds and hedge funds participated actively in the subscription.
The cornerstone investor roster assembled global capital giants, top-tier venture capital firms, state-backed institutions and industry leaders. This underscores the capital markets’ strategic consensus on the robotics sector and their recognition of Geekplus’ commercialization capabilities and technological value.
Mr. Yong Zheng, Founder, Chairman, and CEO of Geekplus, stated in his address, "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."
According to CIC data, Geekplus has ranked as the world's largest provider of warehouse fulfillment AMR robotic solutions for six consecutive years. It offers the industry's most comprehensive portfolio of solutions and possesses the largest customer base and broadest global reach within the sector. As of 2024, Geekplus' operations spanned over 40 countries and regions worldwide, serving more than 800 global enterprise clients, with deep penetration in sectors such as 3PL, retail and e-commerce.
Geekplus' integrated strengths are translating into stronger customer stickiness and repurchase momentum. The Company's overall customer repurchase rate reached approximately 74.6% in 2024, with the key customer repurchase rate hitting 84.3%.
In 2024, Geekplus achieved revenue of RMB 2.409 billion, making it the largest company by revenue within the Hong Kong-listed robotics segment. Revenue maintained rapid growth, with a CAGR of 45% from 2021 to 2024. The Company's annual contracted order value increased steadily from RMB 1.59 billion in 2021 to RMB 3.14 billion in 2024.
From 2021 to 2024, gross profit surged significantly from RMB 80 million to RMB 840 million, representing a CAGR of 118.5%. The overall gross margin climbed substantially to 34.8% in 2024, highlighting the Company's gross profit structure optimization and operational efficiency gains.
Against this backdrop, the Company's inflection point towards profitability is becoming increasingly clear. In 2024, the Adjusted EBITDA loss narrowed significantly to RMB 25 million, and the Adjusted net loss margin was reduced to a low 3.8%.
Geekplus' financial profile – characterized by "high scale, high growth, and low losses" – positions it among the few robotics companies nearing successful commercialization.
Critically, Geekplus technological prowess remains globally leading. Geekplus' proprietary large-scale, multi-robot hybrid scheduling system supports the coordinated operation of over 5,000 devices simultaneously within a single warehouse, backed by extensive implementation experience, forming a core technological barrier for complex, ultra-large warehouse scenarios.
Looking ahead, Geekplus will continue to adhere to its vision of "Becoming a Great Robotics Company," deepen its expertise in cutting-edge robotics technologies, and collaborate with partners to propel the world into a new intelligent era through the power of robotics.
About Geekplus
Geekplus is a global leader in mobile robotics technologies. We develop innovative robotics solutions for order fulfilment. More than 770 global industry leaders use our solutions to realize flexible, reliable, and highly efficient automation for warehouses and supply chain management.
Media Contact
Marie Peterson, VP International Marketing & Communications
Marie.peterson@geekplus.com