The global e-commerce giants are accelerating large-scale deployment of logistics robots, with Amazon setting a strategic goal to "achieve 75% operational automation by 2033" and JD.com announcing plans to procure 3 million robots over the next five years. This rapid adoption of warehouse automation is unlocking new market potential. Against this backdrop, GEEKPLUS-W (02590), a leading Chinese "AI + robotics" company, is capitalizing on its technological and market advantages—securing multiple high-value contracts exceeding RMB 100 million while advancing innovation, commercialization, and global expansion to solidify its industry leadership.

Recently, GEEKPLUS-W won several logistics robotics projects from a prominent e-commerce giant, totaling over RMB 300 million. This not only reflects strong client confidence in its products and services but also signals that top-tier enterprises are entering an "acceleration phase" in smart warehouse investments. Notably, the company has seen sustained high-order growth this year, with cumulative orders surpassing RMB 100 million. Order volume growth exceeds 30%, and customer repurchase rates remain above 80%, underscoring product reliability and global service capabilities. This consistent demand validates both its technological prowess and business model.

**From Robotics to Embodied AI: GEEKPLUS-W’s Unmanned Strategy Evolves** GEEKPLUS-W continues to lead in innovation. On October 28, it launched a groundbreaking embodied AI solution—an unmanned picking workstation and the industry’s first fully automated picking robot system, eliminating human intervention in the picking process. Picking, traditionally the most labor-intensive and costly segment (over 50% of warehouse expenses), now achieves higher efficiency through integrated AI vision, robotic arm control, path planning, and intelligent scheduling. This advancement not only reduces labor costs but also enables "24/7 unmanned warehouses."

Looking ahead, GEEKPLUS-W is targeting the next critical logistics phase: packaging. The company is developing robotic arm packaging technology, aiming to automate the entire workflow—from storage and handling to picking and packaging—ultimately realizing its "fully unmanned warehouse" vision.

**Market Expansion: GEEKPLUS-W at the Cusp of Industry Boom** The global smart logistics sector is entering a growth cycle, driven by rising labor costs and efficiency demands. Robotics-driven warehouse automation is becoming essential, with unmanned warehouses emerging as an inevitable trend. E-commerce demand remains robust, exacerbating seasonal labor shortages and costs, while declining robotics costs, enhanced AI algorithms, and 5G adoption create fertile ground for scaling unmanned solutions. Amazon’s recent "Blue Jay" robot system exemplifies this shift—a space where GEEKPLUS-W has long focused, leveraging its expertise to secure a strategic position.

Industry projections indicate the global AMR (Autonomous Mobile Robot) market will grow at a CAGR exceeding 30% over the next three years, with China outpacing global trends. As giants like Amazon, JD.com, and Cainiao transition robotics from "nice-to-have" to "must-have," GEEKPLUS-W—with its technological edge, client base, and global reach—stands to benefit significantly. Deploying over 66,000 robots across 40+ countries and serving 850+ clients, the company has evolved into an integrated "hardware-software" smart robotics provider.

GEEKPLUS-W is building long-term value through its "AMR leadership + embodied AI" strategy. Deep integration of hardware, software, and algorithms strengthens its product matrix and client retention, while embodied AI opens higher-dimensional growth in fully unmanned warehouses.

**Outlook** As e-commerce, manufacturing, and third-party logistics firms ramp up robotics adoption, smart warehouse penetration is surging. With the industry shifting from "automation" to "intelligence," GEEKPLUS-W’s technological excellence, innovation, and reputation position it for accelerated growth. Analysts echo this optimism: Morgan Stanley forecasts robust Q3 order growth and expects profitability by 2025. CICC highlights GEEKPLUS-W’s AI-scenario integration as a growth catalyst, while Daiwa Securities initiates coverage with a "Buy" rating and HK$38 target price. Multiple institutions endorse its leadership in AMR and embodied AI, viewing recent stock adjustments as a strategic entry point for long-term investors.