Ledong Robot (01236) Lawnmower robots grew strongly by 159% in the first half of the year, and the two-wheel drive strategy achieved remarkable results

Zhitong Finance App learned that on August 24, Ledong Robot (01236) released unaudited interim results for the six months ended June 30, 2026. During the reporting period, the company achieved revenue of about RMB 520 million, up about 35.2% year on year; gross profit of about RMB 150 million, up about 53.2% year on year. The gross profit growth rate was significantly higher than the revenue growth rate, driving the gross margin to increase 3.4 percentage points to about 28.8% year on year. This is mainly due to a sharp increase in sales of DTOF radar and lawnmower robots with high gross margins, and the increase in revenue share of high-margin products has led to an increase in overall gross margin. Over the same period, the company's balance ratio fell from about 45.5% at the end of 2025 to about 31.8%. Combined with the net proceeds raised by H shares after the May listing of about HK$810 million (approximately RMB 700 million), the financial structure continued to be stable and secure. Relying on the “physical AI sensing infrastructure+physical intelligent robot machine” two-wheel drive strategy, Ledong Robot achieved steady and high-quality revenue growth. The commercialization of the intelligent lawn mower continued to achieve impressive results, and the second growth curve accelerated.

The core driving force behind this increase in performance comes from the large-scale expansion of the intelligent mowing robot business. The sales revenue of this category during the reporting period was about RMB 200 million, up about 159% year on year. The second growth curve trend is impressive. Benefiting from the rapid sales volume of lawnmower robots, the company's overall overseas revenue also recorded about RMB 200 million, an increase of about 225.5% over the previous year, and its share of total revenue increased from about 16.1% in the same period in 2025 to about 38.8%.

In terms of perception business, the company continues to consolidate its leading position in technology. In 2025, DTOF lidar shipments exceeded 4 million units, ranking first in the industry. During the reporting period, the company's sales revenue from sensors was about RMB 210 million, down about 9.6% year on year, mainly due to the company's strategic abandonment of low-end triangular radar products and optimization of the product structure, which drove DTOF radar product revenue to increase by about 43.8% year on year, from about 43.9% to about 69.8%; algorithm module sales revenue was about RMB 100 million, up about 31.2% year on year.

During the reporting period, the company's overseas brand building and channel layout expanded by leaps and bounds. On the brand side, ANTHBOT (ANTHBOT), its lawn mowing robot brand, unveiled its third-generation M series and N series products at the 2026 CES exhibition and won many international innovation awards; in June 2026, the company signed the world's top goalkeeper, Marc ter Stegen (Marc ter Stegen) as ANTHBOT's global brand ambassador. On the channel side, as of June 30, 2026, the company's products have been sold to more than 50 countries and regions, established cooperation with more than 100 channels and business partners, entered more than 1,000 offline retail stores, covering leading DIY and building materials chain channels in Germany, France, Denmark, Switzerland, etc., and has entered mainstream global and regional e-commerce platforms such as Amazon, OTTO, and eBay. A global sales and service network integrated online and offline has initially been formed.

Looking forward to the future, Ledong Robot will continue to cultivate the physical AI circuit, promote the deep integration of multi-modal perception and AI, and gradually move towards a spatial intelligence platform enterprise; at the same time, it continues to iterate the mowing robot product line, expanding from a single mowing function to multiple scenarios such as full life cycle lawn maintenance and garden collaboration, speeding up the pace of overseas brand building and building a global top brand for technology. At the same time, the company will invest in cutting-edge perception technology and carry out mergers and acquisitions, and continue to build an international talent system to provide support for long-term strategic upgrading.