Hai Rou Innovation, Global Leader in Automated Carton Retrieval Systems, Prepares for Hong Kong IPO Amid Redeemable Preferred Stock Pressure
一年营收超20亿元，海柔创新冲刺“箱式仓储机器人第一股”
Hai Rou Innovation, founded in 2016, achieved RMB 2.017 billion revenue in 2025 with a 32.8% global market share in automated carton retrieval (ACR) systems. The company is seeking an IPO on the Hong Kong Stock Exchange to address redeemable preferred stock obligations totaling RMB 5.254 billion and accumulated losses of RMB 3.523 billion since 2023.
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盈利困局待解 海柔创新的招股书里另一大亮点是收入和毛利率的翻倍，2023年至2025年，公司收入从8.07亿元跃升至20.17亿元，两年增长1.5倍；毛利率从16.00%增长至31.22%；2026年上半年收入11.18亿元，同比增长70.19%，毛利率进一步增加至34.40%。
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Source：Chinese robotics — Deployment discovery · finance.ifeng.com