GEEKPLUS-W (02590) surged over 5% in early trading, reaching a high of HK$22.62 to set a new listing high. As of press time, the stock was up 3.82% at HK$22.28, with trading volume of HK$30.49 million.

On the news front, GEEKPLUS recently announced its interim results, with first-half revenue of approximately 1.025 billion yuan, up 31% year-over-year; gross profit of approximately 360 million yuan, up 43.1% year-over-year; and adjusted net loss of 11.89 million yuan, narrowed by 94% year-over-year.

The announcement stated that revenue growth was primarily driven by sales of the core robotics solutions products, reflecting continued strong demand from repeat and new end customers in core vertical sectors including e-commerce retail, fashion and fast-moving consumer goods, and third-party logistics.

Notably, the company secured orders worth 1.76 billion yuan in the first half, up 30.1% year-over-year, with the largest single order exceeding 100 million yuan.

Industrial Securities released a research report stating that GEEKPLUS is the global leader in warehouse fulfillment AMR, with core algorithms building competitive barriers and three major solutions meeting customers' core demands, while its layout in embodied intelligence expands long-term growth potential. The company's business reaches globally with outstanding overseas performance and high customer repurchase rates. Scale effects are gradually emerging with significant potential earnings elasticity.

Guosen Securities pointed out that the company has established an embodied intelligence subsidiary to enhance capabilities in robotic picking and general robot manufacturing. The company's intelligence advantages and scale effects are expected to gradually emerge in the future.