GALAXIS TECH shares surge nearly 26% intraday, Sealand Securities initiates with 'Buy' rating

Deep News09-24

GALAXIS TECH (02729) saw its share price climb nearly 26% during intraday trading on the Hong Kong Stock Exchange. At the time of writing, the stock was up 19.94%, trading at HK$30.92 per share, with a turnover of HK$56.283 million.

The company's interim results highlighted rapid growth in its robotics business during the first half of the year, supported by a strong order backlog. As of the end of the first half, the total value of robots and systems pending delivery amounted to approximately RMB 2.2 billion, which management expects to fulfill within the next three years. Among these orders, 56 are overseas projects with a combined outstanding delivery value of RMB 710 million.

In terms of key client expansion, GALAXIS TECH (02729) successfully passed multiple rounds of assessments conducted by a globally recognized home furnishing retailer based in Sweden during the first half of the year, officially becoming a supplier for the retailer's worldwide shuttle system network.

Sealand Securities Co.,Ltd. published a research report stating that GALAXIS TECH (02729) is committed to delivering an integrated "hardware plus software plus artificial intelligence" solution for warehousing and intra-facility logistics. The company is well positioned to benefit from growing demand for intelligent logistics equipment driven by the intelligent upgrading of the manufacturing sector, rising automation needs in e-commerce and retail warehousing, the overseas expansion of Chinese enterprises, and the reconstruction of global supply chains. As existing orders are gradually delivered, overseas localized deployment becomes more entrenched, benchmark projects generate demonstration effects, and economies of scale begin to emerge, the company is expected to sustain fairly rapid revenue growth with gradual improvements in profitability.

The brokerage forecasts GALAXIS TECH (02729)'s revenue to reach RMB 1.188 billion, RMB 1.530 billion, and RMB 1.957 billion for the fiscal years 2026 through 2028, respectively, and has initiated coverage with a "Buy" rating.

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