XAG pitches dock-based crop-spraying drones as it prepares for Hong Kong listing
A Financial Times report published October 25th describes XAG's drones and docking stations. XAG's product page lists automated route planning, refilling, charging and cleaning; a March 2026 filing reported 2025 revenue of RMB 1.166 billion.
By Ryan Merket · Published · Updated
Primary source: FT + NYT + Semafor discovery (Google News)
Why it matters
XAG's March filing gives investors a financial and ownership baseline for a potential Hong Kong listing: revenue reached RMB 1.166 billion in 2025 after the company returned to profit in 2024, and Peng Bin controls about 42.97% of the pre-listing shares, according to Sina Finance's prospectus summary. The reported fall in flagship drone price from RMB 200,000 to about RMB 40,000 speaks to affordability.
Peng Bin, founder of agricultural robotics company XAG, is pitching automated crop-spraying drones as a way to reduce farms' reliance on pilots. In a report published October 25th, the Financial Times reported that XAG had released drones that work with docking stations to clean, recharge and refill aircraft and plan spraying routes.…
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