According to the Hong Kong Stock Exchange’s disclosure on March 26, Guangzhou XAG Technology Co., Ltd. has submitted a listing application to the main board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor.
Comprehensive | Prospectus Editor | Arti
This article is for informational purposes only and does not constitute any trading advice.
According to the prospectus, XAG Technology is a global leader in agricultural robotics. According to Frost & Sullivan, the company ranked second in the global agricultural robotics and agricultural drone industry with market shares of 10.7% and 17.1% for the fiscal year 2024, respectively.
By deeply integrating advanced robotics, intelligent technology, and new energy technology, XAG Technology has developed a series of intelligent agricultural robots with high precision operational capabilities and efficiency far exceeding that of manual labor and traditional agricultural machinery, continuously addressing the world’s greatest agricultural production demand— the “unmanned farming” issue—through the method of “robots replacing humans,” leading an industrial revolution.
After 18 years of deep cultivation in agricultural robot research and development, sales, and other fields, the company was recognized as a key “little giant” enterprise by the Ministry of Industry and Information Technology in 2025 and recognized as a national champion enterprise in a single manufacturing sector by the Ministry of Industry and Information Technology in 2024, achieving many remarkable accomplishments.
Adhering to the mission of enhancing agricultural production efficiency, since its founding, the company has focused its research and development goals on the management aspects of agricultural production, aiming to fill the growing gap in agricultural labor through the method of “robots replacing humans.” In 2015, the company launched its pioneering product, the electric-driven multi-rotor autonomous agricultural drone, starting with the pesticide spraying process, which has the harshest labor environment.
With a profound understanding of the diverse needs of crop management in different operational tasks and terrains, as well as the underlying technologies in agricultural drone R&D, the company further expanded its product matrix, launching agricultural unmanned vehicles, agricultural machinery autopilot systems, and smart farm IoT products.
The company has also developed mobile applications that allow end-users to remotely operate the company’s agricultural robots and monitor field conditions in real-time. By constructing a complete agricultural robot product matrix and data closed-loop, the company provides end-users with precise, efficient, flexible, and economical unmanned agricultural solutions.
During the track record period, XAG Technology achieved steady growth and significant progress in financial performance. The company’s revenue increased by 73.4% from 615 million yuan (RMB, the same below) in 2023 to 1.066 billion yuan in 2024, and further increased by 9.5% to 1.166 billion yuan in 2025.
In addition to revenue growth, the company has also made significant improvements in profitability. Although the company recorded a net loss of 133 million yuan in 2023 and turned profitable with a net profit of 70.4 million yuan in 2024, the company’s net profit further increased by 75.9% to 124 million yuan in 2025.
The company recorded an adjusted net loss (non-International Financial Reporting Standards measurement) of 136 million yuan in 2023, an adjusted net profit (non-International Financial Reporting Standards measurement) of 72 million yuan in 2024, which later increased by 91.1% to 138 million yuan for the fiscal year ending December 31, 2025.
As of December 31, 2025, XAG Technology had accumulated losses of 800 million yuan, mainly due to the company’s continuous investment in research and development and business expansion since its establishment in 2012. Since its founding, the company has prioritized technical innovation and product development in the agricultural robotics industry. The long-term commitment to R&D, combined with a relatively limited revenue base in the early years and ongoing operating expenses, has led to cumulative losses over time. Such investments are crucial for establishing the company’s core technological capabilities and market position.
The prospectus shows that XAG Technology’s shareholders include SoftBank, Baidu Capital, Innovation Works, Yuexiu Industry Fund, Hillhouse, and others.
This time, the funds raised from XAG Technology’s Hong Kong IPO are intended for the following purposes: to be used for the research and development of agricultural robot products, covering all aspects of crop management, thereby enhancing the company’s market share and visibility, and maintaining the company’s leading position in the agricultural robotics industry. To be used for further expanding the company’s global sales and service network, thereby enhancing the company’s global brand visibility, market penetration, and service efficiency. To be used for establishing a new headquarters, which will become the central hub for the company’s management, research, and innovation activities. To be used for working capital and general corporate purposes.
Author’s statement: The content is quoted from external media.
大疆最強競争相手が香港株IPOに襲来、ソフトバンク、百度、高瓴が株主に
According to the Hong Kong Stock Exchange’s disclosure on March 26, Guangzhou XAG Technology Co., Ltd. has submitted a listing application to the main board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor.
Comprehensive | Prospectus Editor | Arti
This article is for informational purposes only and does not constitute any trading advice.
According to the prospectus, XAG Technology is a global leader in agricultural robotics. According to Frost & Sullivan, the company ranked second in the global agricultural robotics and agricultural drone industry with market shares of 10.7% and 17.1% for the fiscal year 2024, respectively.
By deeply integrating advanced robotics, intelligent technology, and new energy technology, XAG Technology has developed a series of intelligent agricultural robots with high precision operational capabilities and efficiency far exceeding that of manual labor and traditional agricultural machinery, continuously addressing the world’s greatest agricultural production demand— the “unmanned farming” issue—through the method of “robots replacing humans,” leading an industrial revolution.
After 18 years of deep cultivation in agricultural robot research and development, sales, and other fields, the company was recognized as a key “little giant” enterprise by the Ministry of Industry and Information Technology in 2025 and recognized as a national champion enterprise in a single manufacturing sector by the Ministry of Industry and Information Technology in 2024, achieving many remarkable accomplishments.
Adhering to the mission of enhancing agricultural production efficiency, since its founding, the company has focused its research and development goals on the management aspects of agricultural production, aiming to fill the growing gap in agricultural labor through the method of “robots replacing humans.” In 2015, the company launched its pioneering product, the electric-driven multi-rotor autonomous agricultural drone, starting with the pesticide spraying process, which has the harshest labor environment.
With a profound understanding of the diverse needs of crop management in different operational tasks and terrains, as well as the underlying technologies in agricultural drone R&D, the company further expanded its product matrix, launching agricultural unmanned vehicles, agricultural machinery autopilot systems, and smart farm IoT products.
The company has also developed mobile applications that allow end-users to remotely operate the company’s agricultural robots and monitor field conditions in real-time. By constructing a complete agricultural robot product matrix and data closed-loop, the company provides end-users with precise, efficient, flexible, and economical unmanned agricultural solutions.
During the track record period, XAG Technology achieved steady growth and significant progress in financial performance. The company’s revenue increased by 73.4% from 615 million yuan (RMB, the same below) in 2023 to 1.066 billion yuan in 2024, and further increased by 9.5% to 1.166 billion yuan in 2025.
In addition to revenue growth, the company has also made significant improvements in profitability. Although the company recorded a net loss of 133 million yuan in 2023 and turned profitable with a net profit of 70.4 million yuan in 2024, the company’s net profit further increased by 75.9% to 124 million yuan in 2025.
The company recorded an adjusted net loss (non-International Financial Reporting Standards measurement) of 136 million yuan in 2023, an adjusted net profit (non-International Financial Reporting Standards measurement) of 72 million yuan in 2024, which later increased by 91.1% to 138 million yuan for the fiscal year ending December 31, 2025.
As of December 31, 2025, XAG Technology had accumulated losses of 800 million yuan, mainly due to the company’s continuous investment in research and development and business expansion since its establishment in 2012. Since its founding, the company has prioritized technical innovation and product development in the agricultural robotics industry. The long-term commitment to R&D, combined with a relatively limited revenue base in the early years and ongoing operating expenses, has led to cumulative losses over time. Such investments are crucial for establishing the company’s core technological capabilities and market position.
The prospectus shows that XAG Technology’s shareholders include SoftBank, Baidu Capital, Innovation Works, Yuexiu Industry Fund, Hillhouse, and others.
This time, the funds raised from XAG Technology’s Hong Kong IPO are intended for the following purposes: to be used for the research and development of agricultural robot products, covering all aspects of crop management, thereby enhancing the company’s market share and visibility, and maintaining the company’s leading position in the agricultural robotics industry. To be used for further expanding the company’s global sales and service network, thereby enhancing the company’s global brand visibility, market penetration, and service efficiency. To be used for establishing a new headquarters, which will become the central hub for the company’s management, research, and innovation activities. To be used for working capital and general corporate purposes.
Author’s statement: The content is quoted from external media.