On August 4, 2025, Geek+ (02590), the “world’s first AMR warehouse robot stock,” officially released its first earnings forecast since its IPO, delivering a remarkable “good start.”
According to the latest earnings forecast, the company expects revenue of 995-1,030 million yuan in the first half of 2025, a year-on-year increase of 27-32%. Meanwhile, the company’s net loss for the reporting period is expected to be 45-55 million yuan, a significant year-on-year reduction of 90-92%. The adjusted net loss is expected to be 10-20 million yuan, also a significant reduction of 90-95%.
The significant improvement in these core financial indicators not only demonstrates the continued improvement of operating efficiency, but also indicates that Geek+ is accelerating towards profitability and maintaining its leading position in the commercialization of to-business robotics companies. According to the announcement, Geek+’s revenue increase was primarily driven by the increased delivery of its mobile warehouse robot solutions during the reporting period, significantly improving order fulfillment efficiency. The significant narrowing of its adjusted loss was driven by two key factors: the continued scale effect of its core business, with revenue growth driving a steady increase in gross profit margin; and a significant increase in foreign exchange gains due to the appreciation of the Euro against the RMB, further improving its financial performance.
Notably, Geek+ recently announced the establishment of a wholly-owned subsidiary, Beijing Geekplus Embodied Intelligence Technology Co., Ltd., officially entering the cutting-edge field of embodied intelligence. This subsidiary will focus on the research and development of embodied intelligence technologies, such as robotic picking and general-purpose robots, and related product offerings, targeting B2B scenarios such as logistics and manufacturing. This new business will create strong synergies with its existing AMR product line, leveraging Geek+’s strong brand influence, established sales channels, and extensive scenario data to accelerate the scale-up of its technological achievements.
Geek+’s entry into embodied intelligence is not only a natural extension of its technological capabilities, but also a forward-looking position in the future trillion-dollar robotics market. The development path of embodied intelligence will most likely begin in warehousing and gradually extend to smart manufacturing, commercial services, and even home applications. Geek+, with its leading position in logistics robotics, deep understanding of scenarios, and strong global implementation capabilities, possesses a natural first-mover advantage.
According to CIC, Geek+’s business covers over 40 countries worldwide, serving over 800 end customers. Its customer repurchase rate in 2024 was 74.6%, and its key customer repurchase rate was approximately 84.3%, far exceeding the industry average. Geek+’s existing capabilities and resources not only provide mature application scenarios and benchmark verification channels for its embodied intelligence technology and products, significantly accelerating market entry, but also guaranteeing global implementation and large-scale expansion.
Once Geek+ achieves a breakthrough in embodied intelligence, it will successfully transition from a warehouse robotics company to a comprehensive intelligent robotics company covering a wider range of application scenarios, completely unlocking its growth ceiling. This will not only reshape the company’s valuation logic but also become the core premium source of its long-term investment value.
In the embodied robotics sector, Unitree was the first company to publicly retail high-performance quadruped robots and achieve industry adoption. AGiBOT has created a leading general-purpose embodied robot product and application ecosystem, establishing a full-stack “body + AI” technology system. UBTECH has pioneered the commercialization of humanoid robots in automotive factories and other commercial scenarios, establishing in-depth partnerships with numerous leading companies. Geek+’s embodied intelligence strategy is focused on logistics, where it leverages its inherent advantages to secure a unique niche.
Geek+ not only boasts strong commercialization capabilities and a forward-looking strategic approach, but also possesses formidable technological advantages. The company has consistently invested heavily in R&D, building a comprehensive suite of AI-driven robotic perception, decision-making and control, and multi-agent collaboration technologies. As of December 31, 2024, Geek+ holds 1,867 patents, and R&D personnel account for 41% of its total workforce, making it one of the largest R&D teams in the industry.
Policy support is also injecting strong momentum into industry development. On July 31, the Opinions on Deepening the Implementation of the ‘AI+‘ Initiative was reviewed and approved at the Executive Meeting of the State Council. The meeting emphasized the need to thoroughly implement the “AI+” initiative, vigorously promote the large-scale commercial application of AI, and accelerate the popularization and deep integration of AI in all areas of economic and social development, thereby forming a virtuous cycle in which innovation drives application and application fosters innovation.
Against the backdrop of the accelerating implementation of scenarios such as “AI+ Logistics” and “AI+ Manufacturing,” Geek+, as a technology pioneer, is facing an unprecedented period of strategic opportunity.
In summary, Geek+’s sustained high growth is no accident; it is the result of a convergence of multiple factors, including its leading commercialization, global business coverage, and AI R&D and application capabilities. Against the backdrop of the accelerated implementation of the national “AI+” strategy and the surge in global industrial upgrading, Geek+, as an industry leader, is spearheading the evolution of robotics technology towards smarter and more versatile technologies. Leveraging its strong leadership, technological advantages, commercialization capabilities, and breakthroughs in its embodied intelligence business, the company’s performance and valuation are expected to continue to rise, providing it with even greater room for growth.
Note:
Logistics Automation Development Strategy & the 7th International Mobile Robot Integration Application ConferenceSoutheast Asia will be held in Concorde Hotel Kuala Lumpur, Malaysia on 21st August 2025. At the same time, the 2025 Global MobileRobot Industry Development Report will be released. Welcome to join us.
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