On September 17, Geekplus-W (02590.HK) issued a voluntary announcement confirming that Marcasite Gem Holdings Limited, an entity under Warburg Pincus, has completed the sale of 48.9154 million shares, representing approximately 4.78% of the company's total issued shares. The announcement explicitly stated that this transaction does not involve any issuance, allotment, or repurchase of shares by the company, nor does it impact the total number of issued shares, and it is expected to have no material adverse effect on the Group's business operations or financial position.
Warburg Pincus, which first invested in the company during the Series B1 round in 2017, has been an early financial backer for nearly a decade. The recent share sale reflects more of the fund's lifecycle management approach, while the company's operational fundamentals and long-term growth narrative remain unchanged. The market's next key focus now shifts back to the company's core business performance.
The growth momentum of Geekplus-W is driven by multiple engines: subscription-based smart warehousing services are projected to generate RMB 1 billion in revenue over the next three years; the newly launched RoboShuttle Hyper product, unveiled in August, is expected to contribute RMB 3 billion in revenue over the same three-year period; and its embodied intelligence products are projected to achieve cumulative shipments exceeding 10,000 units within three years. With these engines working in tandem, the company is well-positioned for stronger growth ahead.
At the same time, the company is backing its valuation recovery with real capital. Year-to-date, Geekplus-W has executed 36 buybacks, repurchasing a total of 44.2498 million shares, with cumulative buyback value reaching HK$419 million. The sustained and intensive repurchase activity highlights management's confidence in future operations. With strengthening fundamentals, multiple growth drivers, and increasing buyback support, the window for the company's value re-rating is opening.
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