Geekplus lists on Hong Kong stock exchange

Geekplus Technology Co. was successfully listed on the main board of the Stock Exchange of Hong Kong Ltd. (HKEX) today. The Beijing-based company claimed that it is the world’s first publicly listed warehouse robotics company.

“Since its inception, Geekplus has focused on revolutionizing global supply chain efficiency paradigms through robotic intelligence,” stated Yong Zheng, founder, chairman, and CEO of Geekplus. “Listing on the international capital markets marks a new starting point for Geekplus, enabling us to harness the twin engines of capital and technology.”

Geek+ was recognized with a 2025 RBR50 Robotics Innovation Award for the deployment of its SkyCube automated storage and retrieval system (ASRS) with Unliver PLC.

Last week, the company won the “Integrated Customer Solution” category in the IFOY (International Intralogistics and Forklift Truck of the Year) Awards. It had deployed its first Tote-to-Person system at Dr. Max in italy.

Geekplus claims to be a leading AMR provider

Founded in 2015, Geekplus, or Geek+, has developed autonomous mobile robots (AMRs) for order fulfillment. The company said that more than 770 customers use its systems to improve the flexibility, reliability, and efficiency of their supply chains.

Geekplus added that its proprietary large-scale, multi-robot hybrid scheduling system supports the coordinated operation of more than 5,000 devices simultaneously within a single warehouse. It said its extensive implementation experience forms “a core technological barrier for complex, ultra-large warehouse scenarios.”

According to China Insights Consultancy (CIC) data, Geekplus has ranked as “the world’s largest provider of warehouse fulfillment AMRs” for six consecutive years. The company also asserted that 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 in sectors such as third-party logistics (3PL), retail, and e-commerce.

Geekplus said its integrated strengths are translating into 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%.

Geek+ reports favorable finances

Geekplus noted that its financial profile is characterized by “high scale, high growth, and low losses.” It said this positions it among the few mobile robot companies nearing successful commercialization.

From 2021 to 2024, gross profit grew from RMB 80 million to RMB 840 million ($11.1 million to 116.9 million U.S.), representing a compound annual growth rate (CAGR) of 118.5%. The company said its overall gross margin climbed to 34.8% in 2024, which it attributed to structural optimization and operational efficiency gains. 

Last year, Geekplus achieved revenue of RMB 2.409 billion ($330 million), 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 from RMB 1.59 billion ($220 million) in 2021 to RMB 3.14 billion ($440 million) in 2024.

Geekplus said its inflection point towards profitability is becoming increasingly clear. In 2024, its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss narrowed to RMB 25 million ($3.4 million), and the adjusted net loss margin was reduced to 3.8%.

IPO marks a record for Hong Kong tech

Geekplus said its initial public offering (IPO) represents the largest H-share, or Hong Kong Stock Exchange, IPO by a robotics company to date. It was also the largest non-“A+H” — listed in both the mainland China and Hong Kong stock exchanges — technology IPO in Hong Kong this year.

The Hong Kong public offering was oversubscribed by 133.62 times, and the international offering was covered 30.17 times. This places it among the top three Hong Kong listings this year by international offering coverage multiple. Sovereign wealth funds, international long-only funds, dedicated technology funds, and hedge funds participated in the subscription.

The cornerstone investor roster assembled global capital giants, top venture capital firms, state-backed institutions, and industry leaders, noted Geek+ (Stock Code: 2590.HK).

The company said its public listing marks “a significant milestone for the global industry … ushering in a new phase of technology, commercialization, and scale expansion for the company.”

Looking ahead, Geekplus plans to deepen its expertise in cutting-edge technologies and collaborate with partners “to propel the world into a new intelligent era through the power of robotics.”