Stock Track | UBTech Robotics Soars Nearly 13% as Key Shareholders Pledge Not to Sell Shares

Stock Track01-06

UBTech Robotics, a Hong Kong-listed Chinese humanoid robot maker, saw its shares surge nearly 13% in the intraday trading session on Monday. The sharp rally came after three of the company's key shareholders voluntarily pledged not to sell any of their shares for the next 12 months.

According to the company's filing, executive directors Xiong Youjun and Wang Lin, who own 8.29 million and 8.2 million shares respectively, have committed to not selling their holdings for a year. Additionally, another shareholder, Zhao Guoqun, holding 2.45 million shares, has made a similar pledge.

The board of UBTech Robotics believes that this decision by major shareholders to retain their stakes will not adversely impact the group's operations. Investors appear to have welcomed this move, interpreting it as a sign of confidence in the company's future prospects and a positive signal for share price stability.

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