Sealand Securities has released a research report initiating coverage on Galaxis Tech (02729) with a "Buy" rating, predicting that the company's profitability is set to improve gradually. The firm highlights that Galaxis Tech is dedicated to delivering integrated "hardware + software + artificial intelligence" solutions for warehousing and in-factory logistics operations.

The brokerage believes the company is well-positioned to capitalize on multiple growth drivers, including the ongoing intelligent upgrade of the manufacturing sector, rising demand for automated warehouse solutions in e-commerce retail, and the expansion of Chinese enterprises overseas. Additionally, the global restructuring of supply chains is expected to fuel demand for intelligent logistics equipment, further supporting the company’s growth trajectory.

As the company progresses, Sealand Securities anticipates that the gradual delivery of its existing order backlog, deepening localization efforts in overseas markets, the demonstration effect of benchmark projects, and the realization of economies of scale will contribute to sustained rapid revenue growth. Consequently, the firm expects the company's profitability to improve over time.

The research report projects that Galaxis Tech's revenue for the 2026-2028 period will reach 1.188 billion CNY, 1.530 billion CNY, and 1.957 billion CNY, respectively. Based on this outlook, Sealand Securities has set an initial "Buy" rating, marking its first coverage of the stock.