Hong Kong – OneRobotics (Shenzhen) Co., Ltd. (OneRobotics, 06600) reported FY25 revenue of RMB900.56 million, a 47.7% increase year-on-year, fuelled by strong demand for its home embodied AI robotic systems and new product launches.
Revenue & Product Mix • Home embodied AI robotic system products delivered RMB807.34 million, up 47.6% and accounting for 89.6% of total sales. • Execution-enhanced robots contributed RMB510.58 million (+46.8%), while perception and decision-making systems added RMB296.76 million (+49.1%). • Other smart-home and emerging AI products generated RMB93.22 million (+48.1%).
Profitability • Gross profit rose 54.2% to RMB486.63 million; gross margin widened 2.3 ppts to 54.0%, supported by higher-value product launches, favourable FX movements in the yen and euro, and ongoing cost optimisation. • Reported loss expanded to RMB27.26 million (FY24: RMB3.07 million), primarily reflecting RMB27.35 million of listing expenses and a 21.8% rise in R&D spending to RMB136.49 million. • Adjusted net profit (excluding share-based payments and listing expenses) climbed to RMB12.77 million, a 1,053.2% surge from FY24’s RMB1.11 million.
Regional Performance • Japan remained the largest market with revenue of RMB545.83 million (60.6% of total). • Europe contributed RMB206.05 million, rising 57.9% year-on-year; Germany more than doubled (+108.9%). • North America delivered RMB117.68 million, up 21.7%. Sales now span 90+ countries and regions.
Cost Structure & Cash Position • Selling and distribution expenses escalated 81.3% to RMB311.67 million, reflecting channel expansion and new-product marketing. • Administrative expenses increased to RMB81.78 million (+152.6%), driven by IPO-related costs and higher headcount. • FY25 capex stayed broadly flat at RMB22.10 million. • Cash and cash equivalents reached RMB1.60 billion, up from RMB81.16 million, mainly due to HK$1.54 billion (≈ RMB1.42 billion) raised in the December 2025 Hong Kong IPO.
Balance Sheet & Liquidity • Net assets soared to RMB1.66 billion (FY24: RMB197.51 million) following the share offering. • Inventory rose to RMB229.15 million, aligning with expanded sales volumes. • Interest-bearing debt stood at RMB109.08 million; finance costs remained stable at RMB4.23 million.
Use of IPO Proceeds The company earmarks 66.46% of net proceeds to bolster R&D, 19.76% for sales channel expansion and branding, 3.78% to repay bank loans, and 10.00% for general working capital. None of the funds were utilised in FY25; an additional HK$225.47 million was received in January 2026 from partial exercise of the over-allotment option.
Dividend The Board proposed no final dividend for FY25.
Outlook Management will continue to advance the “One Brain, Multiple Embodiments” strategy, prioritising home-scenario AI capabilities, data expansion, and overseas market penetration while maintaining a focus on cost optimisation and product pipeline expansion.
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