OneRobotics swings to first-half loss despite 32% revenue growth

Home embodied AI robotic systems provider OneRobotics (Shenzhen) Co. Ltd. (6600.HK) announced on Thursday that its revenue rose 31.8% year-on-year to 522 million yuan ($77.7 million) in the first half of the year. But the company swung to a net loss of 35.53 million yuan for the period, reversing a profit of 27.9 million yuan a year earlier.

OneRobotics said its revenue growth was driven mainly by new products and overseas sales. Its onero H1 humanoid home robot, Acemate sports robot and Kata Friends companion robot all contributed revenue during the period, with the three new product lines generating combined revenue of about 68.4 million yuan. Revenue from Europe and North America surged 97.5% and 85.7%, respectively, with the two markets together accounting for 42.1% of total revenue.

The company’s gross profit rose 22.5% to 263 million yuan during the period, while its gross margin fell to 50.4% from 54.2%. It attributed its loss mainly to exchange-rate fluctuations and increased R&D investment. It recorded a net foreign exchange loss of 42.7 million yuan in the first half, compared with a gain of 6.1 million yuan a year earlier. R&D expenses also jumped 73.3% to 102 million yuan, accounting for 19.5% of revenue.

The company’s shares opened lower on Friday and were trading at HK$53.15 by the midday break, down 7.81%. The stock is down about 60.8% over the past six months.

By Lee Shih Ta

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