[Zhenzhuo Institutional View] UBTech (09880.HK): Entering a Golden Breakout Period

$UBTECH ROBOTICS(09880.HK) Recently, the fundamentals and news have resonated, with the process of commercialization and capacity expansion accelerating simultaneously, making the investment value increasingly prominent.

UBTECH recently signed a strategic cooperation agreement with Zhuoshi Technology, focusing on the direction of "industry model + embodied intelligence," with plans to jointly deploy 10,000 humanoid robots in the next five years. This collaboration not only covers industrial manufacturing but also extends to high-potential fields such as healthcare and education, targeting commercial orders worth tens of billions. This marks UBTECH's successful transition from the "proof of concept" stage to the fast lane of large-scale commercialization, providing high certainty for future revenue.

In terms of mass production, according to the latest expectations from management, the company plans to significantly increase annual production capacity to 5,000 units by 2026 and further to 10,000 units by 2027. With cumulative orders exceeding 1.3 billion yuan by 2025, the company's strong delivery capabilities will translate into substantial performance growth, and economies of scale are expected to further reduce costs, consolidating its market leadership position.

The international macro environment has also provided a boost to the sector. It is reported that Donald Trump's team plans to promote a national-level robotics strategy in the U.S. and is considering issuing executive orders to accelerate industry development, aiming to compete with rivals in the field of embodied intelligence. This not only validates humanoid robots as the next global tech frontier after AI but will also attract global capital to reassess the value of this sector. As an industry leader with mass production capabilities, UBTECH will undoubtedly be the first to benefit from this wave of global capital and policy momentum.

Source: KGI Securities