(28 August 2026 – Hong Kong) — Geek+ (stock code: 2590.HK), a global leader in intelligent robotics, today announced its interim results for the six months ended 30 June 2026 (the "Reporting Period"). Driven by the dual engines of AI and embodied intelligence technology breakthroughs alongside deepened global expansion, the Group delivered an interim report card featuring strong order growth, steady revenue growth and significantly improved profitability.
The report shows that the Group's new signed orders for 1H2026 grew 35.5% YoY to RMB2.385 billion, leading the industry in growth. Revenue increased 25.3% YoY to RMB1.284 billion, gross margin improved to 35.8%, and adjusted net loss narrowed 32.1% YoY. Excluding the impact of embodied intelligence R&D investment, adjusted net loss narrowed significantly by 81.9%, bringing the core business close to break-even.
It is worth noting that the Group's growth engines have become more diversified and robust. In particular, the boom in subscription-based service orders signals that the Group's substantial installed base is accelerating its conversion into incremental service revenue, becoming one of the core pillars for future revenue mix optimization and long-term stable growth. The Group is forming a high-quality growth pattern featuring sustained high growth in the core warehouse AMR business and coordinated multi-engine drivers.
It is worth noting that the Group's growth engines have become more diversified and robust. In particular, the boom in subscription-based service orders signals that the Group's substantial installed base is accelerating its conversion into incremental service revenue, becoming one of the core pillars for future revenue mix optimization and long-term stable growth. The Group is forming a high-quality growth pattern featuring sustained high growth in the core warehouse AMR business and coordinated multi-engine drivers.
Orders Up 35.5%, Subscription-Based Services Up 75%
In 1H2026, Geek+'s new signed orders reached RMB2.385 billion, up 35.5% YoY, leading the industry and injecting strong momentum into full-year performance. This is underpinned by the concentrated realization of business model expansion and full-scenario deep cultivation alongside embodied intelligence order breakthroughs within the same time window.
Subscription-Based Service Orders Reach RMB156 Million, Up Over 75% YoY
Subscription-based services leverage the Group's installed base of 1,000 end customers and 81,000 deployed robots worldwide, upgrading the partnership from one-off project delivery to long-term operations services. This business model combines high gross margins with recurring monetization and significantly enhances customer stickiness. It will continue to bring greater predictability and counter-cyclical resilience to the Group's performance, building a differentiated competitive moat.
The 75% growth rate in 1H2026 signals that the services business is rapidly becoming one of Geek+'s core strategic pillars. In particular, subscription-based service orders in the Americas grew 455% YoY, fully validating robust demand for the service-based model in mature overseas markets and opening up global replication opportunities.
Warehouse Scenario Deepening and Manufacturing Scenario Expansion Both See Volume Increases
Orders for the Pallet-to-Person product line grew over 200% YoY, underscoring the Group's leadership in the pallet warehouse automation market and demonstrating the fruits of scenario deep cultivation.
Orders from manufacturing scenarios grew over 600% YoY, extending from warehouse fulfillment to production logistics and showing strong momentum. Overseas manufacturing production logistics automation has entered a volume ramp-up window. The Group's existing manufacturing customers have naturally expanded into production logistics, while customer reputation has also driven incremental breakthroughs, with this extension path continuing to broaden.
Embodied Intelligence Orders Get Off to a Strong Start with Partnerships with Multiple Fortune Global 500 Companies
The selection by leading enterprises is itself the strongest technological and commercial endorsement, and the benchmarking effect will significantly lower the decision-making threshold for subsequent customers. The global business networks of international enterprises serve as a natural "global replication" expansion channel, anchoring a high starting point for the embodied intelligence business. The high complexity and stringent standards of leading enterprise scenarios allow embodied intelligence technology to be continuously refined in high-density real-world operating conditions, accelerating both technological iteration and solution transferability.
Steady Revenue Growth with Continuously Enhanced Profitability
In 1H2026, the Group's operational quality reached a new level. Revenue grew 25.3% YoY to RMB1.284 billion, with overall gross profit reaching RMB460 million, up 27.8% YoY. Gross margin improved to 35.8%, reflecting continuously enhanced profitability.
The advantages of global operations continue to stand out. Revenue from countries and regions outside Chinese Mainland accounted for over 75% of total revenue, with the gross margin of overseas sales reaching 46.2%, fully demonstrating the high value-added competitiveness of the Group's globalized products and services.
Adjusted net loss narrowed 32.1% YoY. The Group's embodied intelligence R&D investment during the period was RMB44.5 million; excluding this impact, adjusted net loss was RMB16.1 million, narrowing significantly by 81.9% YoY, with the core business approaching break-even.
As at the end of the Reporting Period, Geek+ served over 1,000 end customers across more than 40 countries and regions, including over 85 Fortune Global 500 enterprise customers, with a customer repurchase rate as high as 80%. According to Interact Analysis data, the Group has retained the No. 1 global autonomous mobile robot (AMR) market share for seven consecutive years.
Multi-Engine Deepening to Continuously Unlock High-Growth Opportunities
Going forward, the Group will continue to focus on three strategic directions: AI-powered intelligent operations subscription services, full-scenario product innovation, and embodied intelligence commercialization.
AI Value Realization: Intelligent Warehouse Subscription Services to Unlock Long-Term Incremental Growth
Powered by AI as the core engine, intelligent warehouse subscription services help customers elevate full-spectrum warehouse operations to a new level of intelligence, achieving long-term win-win growth for both the Group and customer value. This will be one of the key directions for Geek+'s future development.
Leveraging its existing global customer base and installed robot fleet, the Group is expected to rapidly expand the coverage of its intelligent warehouse subscription services. The continued ramp-up of this business will further broaden the Group's differentiated advantages and systematically reshape Geek+'s order and revenue mix, bringing greater stability to long-term revenue.
Full-Scenario Deep Cultivation: Product Innovation to Expand High-Potential Niche Markets
The Group will continue its full-scenario strategy, continuously launching innovative products and solutions to meet the needs of fast-growing niche scenarios and continuously unlock growth opportunities.
In August 2026, the Group launched the all-new RoboShuttle Hyper climbing Tote-to-Person solution, with system throughput of 6,000 totes per hour (per 1,000 sq.m), setting a new industry efficiency benchmark. This solution precisely targets high-traffic, extreme-throughput markets represented by MFC (Micro-Fulfillment Center) front warehouses. Market reports show that the global MFC market will reach US$55.18 billion by 2030, with a CAGR of 43.2% from 2026 to 2030.
Furthermore, the shared technology foundation and core components across Geek+'s product lines will also accelerate the release of economies of scale and cross-selling advantages, further supporting steady performance growth.
Embodied Intelligence Commercialization: Over 10,000 Units in 3 Years, From Warehousing to Retail Stores
As the Group's second growth curve, the embodied intelligence business will transition from order realization to scale contribution.
Based on the data flywheel and GINO ECO ecosystem strategy, the Group will build highly competitive integrated embodied intelligence solutions in warehousing scenarios. Through close collaboration between humanoid robots and intelligent devices such as AMRs, the Group will form a productivity fleet covering the full workflow of "storage, picking, handling and inspection", driving the large-scale deployment of unmanned warehouses.
In addition, in line with the strategic direction of general embodied intelligence, the Group will actively expand scenario applications of embodied intelligence, targeting the extension from warehousing to manufacturing, retail and other industries within the next three years, with cumulative total shipments of embodied intelligence products exceeding 10,000 units.