Robot maker Ubtech Robotics Corp. Ltd. (9880.HK) announced on Tuesday that its revenue rose 53.3% last year to 2 billion yuan ($290 million), while its net loss narrowed to 703 million yuan from 1.12 billion yuan in 2024.
The company said its revenue from full-sized embodied AI humanoid robots and related solutions surged more than 22-fold to 821 million yuan, becoming its largest revenue contributor. Unit sales reached 1,079, compared with just three units sold last year. The company’s gross profit rose 15.6 times to 448 million yuan, with gross margin improving by 9 percentage points to 37.7%.
Ubtech completed three share placements during the year, raising a total of approximately HK$5.88 billion ($750 million). Its cash stood at 4.9 billion yuan at the end of last year, up sharply from 1.19 billion yuan at the beginning of the year. Its R&D spending for the year exceeded 500 million yuan, accounting for 25.4% of revenue, with cumulative R&D investment reaching 1.9 billion yuan over the past four years.
Ubtech’s stock opened higher on Wednesday after the report’s release, trading at HK$ 97.5 by the midday break, up 14.17%. The stock is still down about 23% year-to-date.
By Lee Shih Ta
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