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Chinese maker of desktop and light-industrial robotic arms for education, research and small-scale automation.
Chinese maker of desktop and light-industrial robotic arms for education, research and small-scale automation.
Sells arms through distributors, integrators and online stores, with desktop arms feeding schools and makers, and larger collaborative robots (built to work beside people without cages) going into factories and shops. It listed in Hong Kong in 2024 and is expanding into humanoid-robot development.
In one line: China's answer to a desktop robotics/Universal Robots-lite maker.
Moat: narrow (brand, process know-how). Early mover in affordable desktop robotic arms with a recognized brand in the education/light-automation niche.
Headquarters: Shenzhen, China · Founded: 2015 · Employees: 768
Size Shenzhen Dobot (2432.HK) is a Hong Kong Industrials company (Industrial Machinery) with a market value of $937M, the 609th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$16.70 on 6 Nov 2026.
Performance Over six months the shares fell 49.9%, against -11.2% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue grew 66.7% over the last twelve months (peer median +10.4%); the operating margin is -32.7% (peer median 6.9%).
Valuation It trades at 6.8× enterprise value to sales against a peer median of 2.2× (4th most expensive of 21).
Capital Return on invested capital runs 42.6 points below its cost of capital (9.0% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$732M | HK$534M | HK$405M | HK$317M | HK$280M |
| Revenue growth | — | +32% | +28% | +13% | — |
| Gross profit | HK$340M | HK$246M | HK$189M | HK$121M | HK$101M |
| EBITDA | -HK$194M | -HK$130M | -HK$102M | -HK$103M | -HK$81.2M |
| Net income | -HK$167M | -HK$90.6M | -HK$103M | -HK$114M | -HK$61.0M |
| Free cash flow | -HK$307M | -HK$54.3M | -HK$112M | -HK$186M | -HK$159M |
| Capital expenditure | HK$85.0M | HK$16.5M | HK$15.9M | HK$12.6M | HK$27.4M |
| Total debt | n/a | HK$88.8M | HK$241M | HK$74.0M | HK$36.3M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Shenzhen Dobot 2432.HK | $937M | -50% | +67% | -33% | 6.8× | n/a |
| Rokae (Shandong) Robotics 3752.HK | $1.52B | n/a | +105% | -5% | 16.3× | n/a |
| Estun Automation 2715.HK | $3.79B | -9% | +13% | 4% | 5.9× | 28.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2432.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.6% | -4.7% | 4th lowest of 21 |
| 6-month return | -49.9% | -11.2% | 3rd lowest of 20 |
| Distance from 52-week high | -69.0% | -38.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +66.7% | +10.4% | highest of 21 |
| Operating margin | -32.7% | 6.9% | lowest of 21 |
| EV / Sales | 6.8× | 2.2× | 4th most expensive of 21 |
| ROIC minus cost of capital | -42.6 pp | -2.5 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Dobot 2432.HK | Hong Kong | $937M | -50% | +67% | -33% | 6.8× | n/a | n/a |
| Unimech Aerospace & Manufacturing UNIMECH.NS | India | $937M | +63% | +40% | 27% | 25.4× | n/a | n/a |
| Shanghai SK Automation Technology 688155.SS | China | $936M | -53% | +56% | 15% | 1.8× | 5.3% | +43.3% |
| Shanghai Seer Intelligent Technology 6106.HK | Hong Kong | $940M | n/a | +30% | -12% | 13.3× | n/a | n/a |
| Jiangyin Hengrun Heavy Industries 603985.SS | China | $942M | -45% | -20% | 9% | 2.6× | n/a | n/a |
| Zhejiang Jinggong Integration Technology 002006.SZ | China | $946M | -31% | -12% | 5% | 3.7× | 28.8% | +9.6% |
| SUSS MicroTec SMHN.DE | Germany | $948M | -53% | -15% | 9% | 1.8× | 24.2% | +14.8% |
| Galilei 6420.T | Japan | $925M | -3% | +4% | 13% | 0.7× | n/a | n/a |
| Mesnac 002073.SZ | China | $923M | -11% | +18% | 4% | 0.6× | -3.2% | +21.6% |
| Dynamatic Technologies DYNAMATECH.NS | India | $922M | +3% | +17% | 7% | 5.2× | n/a | n/a |
| Qingdao Gaoce Technology 688556.SS | China | $922M | -45% | +5% | -17% | 2.0× | 8.8% | +37.4% |
| Zhejiang Taitan 003036.SZ | China | $953M | -10% | +14% | 2% | 3.9× | n/a | n/a |
| Tianjin Motor Dies 002510.SZ | China | $918M | -10% | +5% | -1% | 2.8× | 33.8% | +12.2% |
| Graham GHM | United States | $916M | -21% | +21% | 7% | 3.4× | n/a | n/a |
| Kitz 6498.T | Japan | $915M | -21% | +8% | 8% | 0.9× | 4.3% | +9.5% |
| Shanghai Shibei Hi-Tech 600604.SS | China | $960M | -13% | -26% | 4% | 8.6× | 15.1% | -1.7% |
| Chang Wah Electromaterials 8070.TW | Taiwan | $965M | -10% | +19% | 12% | 1.2× | -6.6% | +3.3% |
| Truking Technology 300358.SZ | China | $968M | -8% | +6% | 6% | 1.0× | -1.7% | +10.1% |
| Yindu Kitchen Equipment 603277.SS | China | $969M | -17% | -4% | 19% | 2.2× | -4.3% | +11.1% |
| Banco Products (India) BANCOINDIA.NS | India | $905M | -7% | +22% | 14% | 2.1× | 24.8% | +20.6% |
| METAWATER 9551.T | Japan | $972M | +4% | +13% | 6% | 0.7× | 0.9% | +9.5% |