Dobot first-half revenue nearly doubles, but loss widens

Robot maker Shenzhen Dobot Corp. Ltd. (2432.HK) announced on Tuesday it expects to report first-half revenue of between 300 million yuan ($44.3 million) and 330 million yuan, up 94.65% to 114.12% year-on-year, driven by a sharp increase in revenue from its collaborative robots and embodied intelligence-related businesses.

The company expects to report a gross profit of 140 million yuan to 170 million yuan for the six-month period, up 84.73% to 124.31% year-on-year, and a loss of between 90 million yuan and 120 million yuan, wider by 120% to 190% from 40.87 million yuan a year earlier.

Its net loss excluding non-recurring items is expected to range from 140 million yuan to 170 million yuan. Excluding foreign-exchange losses and share-based payments, its adjusted net loss ranged between 35 million yuan and 65 million yuan.

Dobot attributed the wider loss mainly to increases in foreign-exchange losses and share-based payments, which pushed up operating expenses. The company also increased spending on expansion in key markets and its R&D platform, as it seeks to capture new opportunities in embodied intelligence.

The company’s shares opened higher on Wednesday and were trading at HK$24.42 by the midday break, up 3.13%. The stock is down about 35.6% so far this year.

By Lee Shih Ta

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