Changes in Hong Kong stocks | Mercamander Robotics (09615) fell more than 9% to a record low, with cumulative losses of more than 1 billion dollars over the past three years

The Zhitong Finance App learned that Mecamand Robot (09615) fell more than 9%. Despite receiving 3,835 times the subscription and accounting for more than 60% of the cornerstone, it still couldn't escape bad luck. The stock fell for three consecutive days after listing on September 1, and hit a new low of HK$88.3 this morning. As of press release, it decreased by 9.47% to HK$88.95, with a turnover of HK$349.46 million.

Mecamand is a supplier of intelligent robot components. According to Insight Consulting data, based on revenue in 2025, the company ranked first in the global AI+3D vision-guided general intelligent robot component market, with a market share of about 22.1%, and also ranked first in the industry in terms of shipment volume. In terms of performance, Mercamand's revenue increased from 181 million yuan in 2023 to 389 million yuan in 2025, but the company is still in a state of loss. The cumulative net profit loss for 2023-2025 exceeds 1 billion yuan.

China Investment Securities International believes that as a leading supplier of intelligent robot components, the company is large-scale, widely used, and continues to grow. At the same time, it was reminded that the company is in a period of business and operational expansion, continues to increase investment in R&D, and is at a net loss; customer concentration is high, and if demand from major partners declines or changes in partnerships, it will put pressure on business stability; and technology adaptation and market acceptance in global expansion will take time to verify.