The Zhuhai-based robotic chip company has just completed its IPO, recording a total revenue of nearly 900 million yuan in the past three years, and its share price has risen by nearly 80%.

According to Robotics Forward's report on November 12, Eeasy Tech, a Zhuhai-based robot chip company, has just been listed on the Hong Kong Stock Exchange.

The issue price of Eeasy Tech is HK$9.90 (approximately RMB 9.01), and the opening price is HK$13.62 per share (approximately RMB 12.39), representing a 37.58% increase compared to the issue price.

As of around 10:55 a.m. on November 12, the share price of Eeasy Tech stood at HK$17.81 per share (approximately RMB 16.21), up 79.90% from the issue price. The company recorded a trading volume of 12.06 million shares and a turnover of HK$1.7071 billion (approximately RMB 1.553461 billion), with a total market capitalization of HK$7.69 billion (approximately RMB 6.998 billion).

Eeasy Tech offered a total of 71.687 million shares globally, with 3.5845 million shares offered in Hong Kong and 68.1025 million shares for international offering.

In terms of revenue, from 2023 to 2025, the revenue of Eeasy Tech reached RMB 206 million, RMB 286 million and RMB 407 million respectively, totaling nearly RMB 900 million over the three years.

In the first four months of 2026, the company's revenue reached approximately RMB 130 million, representing a year-on-year increase of about 51.2%.

Among them, the intelligent mobile robot solution is the most important revenue source of the company, whose revenue reached RMB 386 million in 2025, accounting for 94.8% of the total revenue in the same period.

However, while its revenue continues to grow, the company has not yet achieved profitability. In 2025, Eeasy Tech recorded a loss of about RMB 155 million, and the loss further reached about RMB 67 million in the first four months of 2026.

Jiang Xinqiao, Executive Director, Chairman of the Board and Chief Executive Officer of Eeasy Tech, graduated from Dongbei University of Finance and Economics in China with a bachelor's degree in international trade. In October 2014, he joined Eeasy Tech and is currently mainly responsible for the company's daily operation and management.

01. Revenue reached RMB 407 million last year, with a net loss of RMB 51 million

Data from the prospectus shows that from 2023 to the first 4 months of 2026, the revenue of Eeasy Tech was RMB 206 million, RMB 286 million, RMB 407 million and RMB 130 million respectively.

Among them, the revenue in 2024 increased by about 38.8% year-on-year, and further increased by about 42.3% in 2025; the revenue in the first four months of 2026 increased from RMB 86 million in the same period of 2025 to RMB 130 million, representing a year-on-year increase of about 51.2%.

By product line, from 2023 to 2025 and the first four months of 2026, the revenue of Eeasy Tech from the sales of intelligent mobile robot solutions was approximately RMB 194 million, RMB 271 million, RMB 386 million and RMB 128 million respectively, accounting for 94.2%, 94.8%, 94.8% and 98.5% of the total revenue respectively.

In terms of gross profit margin, from 2023 to 2025 and the first four months of 2026, the gross profit of Eeasy Tech was approximately RMB 13 million, RMB 34 million, RMB 113 million and RMB 31 million respectively, with gross profit margins of 6.1%, 11.9%, 27.7% and 23.9% respectively.

From 2023 to 2025 and the first four months of 2026, the company's R&D expenditure was approximately RMB 106 million, RMB 115 million, RMB 133 million and RMB 57 million respectively, accounting for about 73.3%, 68.5%, 45.8% and 64.5% of the total operating expenditure respectively.

From 2023 to 2025 and the first four months of 2026, the adjusted net loss of Eeasy Tech (non-IFRS indicator) was approximately RMB 113 million, RMB 99 million, RMB 51 million and RMB 66 million respectively, with corresponding net loss ratios of 54.9%, 34.6%, 12.5% and 50.8% respectively.

02. Three types of solutions cover different robot scenarios, and the revenue proportion of multimodal robot solutions is close to half

The prospectus shows that Eeasy Tech mainly generates revenue by selling intelligent mobile robot solutions, pan-robot products and other businesses, and the vast majority of its revenue comes from the sales of intelligent mobile robot solutions.

On the product side, the company's intelligent mobile robot solutions mainly include inertial navigation robot solutions, single-modal robot solutions, multimodal robot solutions and supporting robot modules.

1. Inertial navigation robot solution

The inertial navigation robot solution was launched and achieved mass production in 2016. This solution is equipped with high-performance, highly integrated robot-specific SoC, algorithm library and SDK specially designed by Eeasy Tech for simultaneous localization and mapping.

At present, the inertial navigation robot solution has been applied in scenarios such as cleaning robots, intelligent companion robots, and desktop mobile robots.

2. Single-modal robot solution

In 2019, Eeasy Tech launched the single-modal robot solution. This solution adopts a full-stack architecture, including core self-developed algorithms, dedicated SoC, PMU, vision/lidar sensors and other main modules.

This solution has been widely used in scenarios such as AGV, commercial cleaning, commercial services, household cleaning and intelligent butler.

3. Multimodal robot solution

In 2023, Eeasy Tech further launched the multimodal robot solution and achieved mass production in January 2024.

This solution integrates multiple types of sensors such as vision sensors, 2D lidar, multi-line lidar, dense area array lidar, 3D ToF and inertial navigation, which can analyze the collected environmental data, enabling the robot to operate in more complex scenarios.

At present, the multimodal robot solution has been applied in scenarios such as intelligent drones, indoor service robots and outdoor low-speed autonomous robots.

4. Supporting robot modules and pan-robot products

In addition to the above three types of solutions, Eeasy Tech also provides supporting robot modules, which mainly cover motion control and power management, and are used for core tasks such as robot movement, cleaning and charging.

In addition, the company also has pan-robot products in its product business.

The company develops and sells intelligent mobile robots with autonomous decision-making and human-computer interaction capabilities, and its core products include intelligent pet robots, intelligent companion robots and robot mobile chassis.

From the perspective of revenue changes, the revenue contribution of the multimodal robot solution has been relatively high since its launch.

In 2023, the multimodal robot solution had not yet generated revenue. In 2024, its revenue reached about RMB 126 million, accounting for 44.1% of the total revenue. In 2025, it further increased to RMB 181 million, accounting for 44.5% of the total revenue.

As of the first four months of 2026, the revenue of the multimodal robot solution was about RMB 58 million, accounting for 44.6%.

The revenue of the single-modal robot solution was about RMB 76 million in 2024, accounting for 26.6% of the total revenue, down from 69.4% in 2023, and then remained relatively stable in 2025, accounting for 31.4% of the total revenue.

The prospectus shows that the main reason is that during this period, the company allocated more R&D and marketing resources to the development and promotion of the multimodal robot solution.

As of the first four months of 2026, the revenue of the single-modal robot solution was RMB 53 million, and the revenue contribution increased compared with RMB 14 million in the same period of 2025, which was mainly driven by repeated purchases from existing customers leading to sales growth.

03. Customers cover cleaning, service and companion robots, and the top five customers contribute nearly 70% of revenue

Eeasy Tech's customers mainly come from the field of intelligent robots such as cleaning robots, service robots and companion robots, and the customer types include system integrators, direct customers and distributors.