UBTECH ROBOTICS saw its stock price plummet 5.20% during intraday trading on Tuesday, as multiple bearish factors converged to pressure the shares.
The decline was driven primarily by a controversy surrounding the battery life of the company's recently launched UWORLD U1 Series full-size ultra-bionic humanoid robots. Reports highlighting that the top-tier model, priced at 990,000 yuan, cannot last through a single evening sparked widespread public skepticism about product viability. While the company responded that 2 to 4 hours of battery life is an industry-standard limitation for full-size humanoids and emphasized the product's positioning for emotional companionship, the news negatively impacted investor sentiment.
Adding to the selling pressure, a large block sell of 94,500 shares worth approximately HK$9.261 million appeared during early trading. This compounded existing concerns over the H-share full circulation filing disclosed earlier, which involves the conversion of 5.4539 million domestic shares into tradable H-shares, raising expectations of increased near-term share supply in the market.
Comments