As Walker S Strikes the Gong, UBTECH Robotics Becomes the First Humanoid Robot Company Listed on the Main Board of the HKEX

HONG KONG, Jan. 8, 2024 /PRNewswire/ — On 29 December, UBTECH ROBOTICS CORP LTD (“UBTECH ROBOTICS” or the “Company”, together with its subsidiaries, the “Group”; stock code: 9880.HK) officially listed on the main board of the Hong Kong Stock Exchange. The final offer price determined at HK$90 per offer share, giving it a market capitalization of HK$37.6 billion. Attendees at the listing ceremony included Sun Dong, Secretary for Innovation and Technology of the HKSAR Government, Ng Siong Kwong, Office for Attracting Strategic Enterprises, Renu Bhatia, Chairman of the Listing Committee of Hong Kong Stock Exchange, Bonnie Y CHAN, Co-Chief Operating Officer of Hong Kong Exchanges and Clearing Limited, as well as Zhou Jian, Chairman of the Board, Executive Director, and CEO of UBTECH Robotics. They jointly witnessed the listing of UBTECH Robotics, the first humanoid robot company listed on the main board of the Hong Kong Stock Exchange.

At the listing ceremony, the Panda Robot “Youyou” walked steadily onto the stage and handed the gong mallet to Mr. Zhou. The new generation of industrial humanoid robot, Walker S, from UBTECH Robotics made its debut, holding another gong mallet and walking towards the center of the stage. Together with Mr. Zhou, they struck the gong to mark the opening of the market. This remarkable human-robot collaboration signifies the beginning of a new chapter in technological innovation for humanity. It is the first-ever listing ceremony where a humanoid robot struck the gong, and it will also become a milestone event in the accelerating global commercialization of humanoid robots, etching its place in the history of the Hong Kong Stock Exchange.

In his speech at the listing ceremony, Mr. Zhou Jian mentioned: UBTECH Robotics has adhered to the vision of “bringing intelligent robots into thousands of households” since its establishment. In the past decade, it has been gradually growing to an industry-leading humanoid robots and intelligent service robots company. After its listing, UBTECH Robotics will commit to practice in innovation and technology, continue to improve and enhance the full-stack technical capabilities of humanoid robots, to serve major social problems and meet major social needs with innovative technology, bringing along long-term social value with truly sustainable development.

Many shareholder representatives of UBTECH Robotics also attended the listing ceremony, including Xia Zuoquan, Co-founder of BYD, Kuang Ziping, Founding Managing Partner of Qiming Venture Partners, and Ying Wei, Managing Partner of CDH Investments, among other prominent investors. After the IPO, Zhou Jian, CTO Xiong Youjun, angel investor Xia Zuoquan and others jointly held 51.17% of the shares as persons acting in concert. Xia Zuoquan is still the largest individual shareholder of UBTECH Robotics apart from the Founder. Tencent is the largest institutional shareholder with holding 6.15% of the shares, while Qiming Venture Partners holds 5.67% of the shares and remains the second largest institutional shareholder.

From 2020 to the first half of 2023, UBTECH Robotics’ research and development investment accounted for 56.5% of its total revenue. Since its establishment in 2012, UBTECH Robotics has consistently focused on the research and development of core technology of humanoid robots. It has established a comprehensive portfolio of full-stack core technologies, including robotic motion planning and control, servo actuators, computer vision and voice interaction, SLAM and autonomous technology, visual servo operation and human-robot interaction and Robot Operating System Application Framework (ROSA). UBTECH Robotics possesses more than 1,800 related patents, making it the company with the highest number of effective patents in the global humanoid robot industry. While deeply cultivating core technologies, UBTECH Robotics, as one of the few market participants in the global humanoid robot industry, has also been a pioneer in achieving commercialization of humanoid robots.

In the early stages of global humanoid robot exploration and development, UBTECH Robotics, based on its full-stack humanoid robot technologies, has achieved large-scale implementation in various fields such as AI education, smart logistics, smart wellness and elderly care, and commercial services. As of 30 June 2023, UBTECH Robotics has served over 50 countries and regions worldwide, with more than 900 corporate clients and over 760,000 robots sold.

Mr. Zhou Jian stated that UBTECH Robotics focuses on three major application scenarios for humanoid robots, including industrial manufacturing, commercial services, and household companionship. In particular, intelligent manufacturing will be the first area of large-scale application for humanoid robots, redefining workers in the AI era and liberating humans from repetitive labor. The commercial services sector represents the fastest-growing market for humanoid robots, while the household scenario holds the greatest potential for humanoid robot applications. In 2023, UBTECH Robotics developed Walker S, a humanoid robot designed for industrial applications, and collaborated with several leading new energy vehicle companies to strategically plan the phased implementation of humanoid robots in manufacturing scenarios.

On 20 October, the Ministry of Industry and Information Technology issued the “Guiding Opinions on the Innovative Development of Humanoid Robots”, stating that humanoid robots, integrating advanced technologies such as artificial intelligence, high-end manufacturing, and new materials, are expected to become disruptive products following computers, smartphones, and new energy vehicles. They have the potential to profoundly transform the way of production and lifestyle, reshaping the global industrial development landscape. Currently, with the accelerated evolution of humanoid robot technology, it has become a new frontier of technological competition, a new track for future industries, and a new engine for economic development. It has significant development potential and broad application prospects.

On 2 November 2023, Beijing Humanoid Robot Innovation Center Co., Ltd. was officially established. It plans to undertake five key tasks, including the development of general-purpose humanoid robot prototypes and general-purpose large-scale humanoid robot models. This center is the first provincial-level humanoid robot innovation center in China. It is jointly held by Beijing Yizhuang Investment Holdings Limited, UBTECH Robotics, Xiaomi, and Beijing Jingcheng Machinery Electric. The legal representative of the center is Mr. Xiong Youjun, CTO of UBTECH Robotics.

UBTECH Robotics has persevered in the field of humanoid robots for over 11 years, and now it has successfully listed on the Hong Kong Stock Exchange, becoming the first listed humanoid robot company. It brings new momentum to the capital market in Hong Kong and contributes to achieving new breakthroughs in innovative technological development in Hong Kong. At the same time, it sends positive signals and instills confidence in the global humanoid robot market.

With the support of Hong Kong’s favorable policies for innovation and technology, UBTECH Robotics has been invited to establish subsidiaries and the UBTECH Robotics Hong Kong Research Institute in Hong Kong. It aims to attract more global talents, collaborate with universities in Hong Kong and Macau to leverage their research strengths, and build an internationally renowned platform for technological innovation. This will strengthen the industrial advantages with international competitiveness, accelerate the deployment of artificial intelligence and humanoid robots in the forefront of the digital economy, and leverage Hong Kong’s international advantages to extend its reach to the Southeast Asian, European, and US markets, thereby connecting the world and serving the global market.

With listing as a new starting point, UBTECH Robotics will continue to lead the humanoid robot industry by developing and manufacturing humanoid robots of world-class standards, with the goal of penetrating various industries and households and bringing the benefits of humanoid robots to countless businesses and households worldwide.