越疆IPO点评报告

Investment Rating - The report assigns an IPO specific rating of "5.1" to the company, indicating a favorable outlook for the investment opportunity [2]. Core Insights - The company is a leading player in the collaborative robot sector, with a comprehensive product portfolio that meets diverse application needs across various industries [1]. - The global collaborative robot market has shown significant growth, with a compound annual growth rate (CAGR) of 22.2% from 2019 to 2023, and is expected to accelerate to a CAGR of 36.6% from 2023 to 2028 [1]. - The company has achieved a revenue growth from RMB 1.74 billion in 2021 to RMB 2.87 billion in 2023, reflecting a CAGR of 28.3% [1]. Company Overview - The company specializes in collaborative robots with payload capacities ranging from 0.25 kg to 20 kg, serving various sectors including manufacturing, retail, healthcare, and education [1]. - The company operates in over 80 countries, with a stable supply chain for key components such as chips and sensors [1]. Financial Performance - The company reported revenues of RMB 1.74 billion, RMB 2.41 billion, and RMB 2.87 billion for the years 2021, 2022, and 2023 respectively, with a projected revenue of RMB 2.99 billion for the period from July 2023 to June 2024 [2]. - The gross profit margins for the years 2021, 2022, and 2023 were 50.5%, 40.8%, and 43.5% respectively, with a margin of 39.1% for the first half of 2024 [1]. Industry Status and Outlook - The collaborative robot market is characterized by rapid growth and increasing competition, with major players holding significant market shares [1]. - The company ranks seventh globally in terms of revenue in the collaborative robot industry, with a market share of 3.6% [1].