GEEKPLUS-W (02590) has announced that on October 9, 2026, Beijing Geekplus, a wholly-owned subsidiary of the company, entered into an investment agreement with Beijing Shenyi, Mr. Liu Kai, Mr. Huang Kangyao, and Tianjin Huizhi Shenyi. Under the agreement, Beijing Geekplus has conditionally agreed to subscribe for 20% of the enlarged registered capital of Beijing Shenyi for a consideration of RMB 50 million.
Upon completion, Beijing Shenyi will not become a subsidiary of Beijing Geekplus, and its financial statements will not be consolidated into the group's financial statements. Subject to confirmation by the company's auditors, Beijing Shenyi is expected to be accounted for as an associate of the group.
Beijing Shenyi is a limited liability company established in China on January 26, 2026, focused on physical artificial intelligence. It is dedicated to building a general embodied brain for real-world tasks, enabling robots to continuously learn and self-evolve in real-world environments, ultimately creating general productivity across tasks, embodiments, and scenarios. Prior to this transaction, Mr. Liu directly and indirectly held 81.10% equity in Beijing Shenyi. Therefore, Beijing Shenyi constitutes a connected person of the company.
In recent years, the group has focused on its core AMR business and continued to deepen its presence in the intelligent warehousing sector. The investment is part of the group's plan to build an open and collaborative embodied intelligence industry ecosystem. The board expects the investment to: strengthen cooperation in embodied artificial intelligence and model technology; broaden the group's access to specialized expertise and R&D resources in the embodied intelligence value chain; promote the development and application of embodied intelligence technology in manufacturing scenarios; and create opportunities for long-term technical cooperation and commercial synergies while enabling the group to participate in the potential growth of Beijing Shenyi.
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