Citigroup: If all UBTECH ROBOTICS robot orders are delivered this year, the company's revenue forecast may be raised by about 8%, reiterating a buy rating

Citi stated that UBTECH ROBOTICS has reported humanoid robot orders reaching 400 million yuan. If all orders are delivered this year, Citi's revenue forecast for UBTECH ROBOTICS in 2025 is expected to be raised by about 8%. Note: On Wednesday, UBTECH ROBOTICS announced a large order of 250 million yuan for humanoid robots, primarily for the Walker S2 humanoid robot equipped with an autonomous hot-swappable battery system, which will begin delivery within this year. Citi analysts Jamie Wang and others mentioned in the report that the order is expected to include 250-300 humanoid robots, although management refused to disclose any details about the order. They reiterated a buy rating on UBTECH ROBOTICS, with a target price still maintained at HKD 121