Citigroup has released a research report stating that UBTECH ROBOTICS's (09880) 2025 performance exceeded expectations. Management has officially raised the shipment target for the 2026 Walker S series humanoid robots from 2,000-3,000 units to 5,000 units and set a gross profit margin target of 43% to 45% for 2026. Management believes that 2026 will be the year UBTECH transitions its humanoid robots into commercial operation, rather than just a validation phase. The bank has increased its revenue forecasts for UBTECH for this year and next by 36% and 52%, respectively. The target price has been raised from HK$155 to HK$190, with a maintained "Buy" rating.
Comments