China's Ubtech Pops After Posting 23-Fold Leap in Annual Humanoid Robot Sales
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Ubtech Robotics reported a 23-fold increase in sales of humanoid robots, leading to a 17.1% rise in its stock price to HKD100.00. The company sold 1,079 androids, generating CNY820.6 million, which constituted 41% of its total revenue. Overall revenue surged 53% to CNY2 billion, while net loss decreased by 32% to CNY789.8 million. The company is expanding its humanoid robots' applications in various sectors, including education and logistics, and has seen growth in other smart hardware devices.
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