Robot maker debuts on HK exchange


Accompanied by a humanoid robot developed by his company, Zhou Jian, chairman and CEO of UBTech Robotics, rings the opening bell at the Hong Kong Stock Exchange on Friday. CHINA DAILY

For the first time in its 132-year history, a humanoid robot rang the opening bell at the Hong Kong Stock Exchange on Friday, floating Shenzhen-based robot developer UBTech Robotics on the bourse for its final initial public offering of 2023.

Said by many to be “China”s first humanoid robot stock”, UBTech Robotics raised more than HK$1 billion ($130 million) on its first day of trading, as many domestic companies race to commercialize their humanoid robots.

According to a guideline unveiled by the Ministry of Industry and Information Technology, China aims to build an innovation system for humanoid robots by 2025, with breakthroughs to be made in key technologies to ensure the safe and effective supply of core components.

UBTech Robotics’ stock rose 0.94 percent to HK$90.85 on Friday, versus its IPO price of HK$90, giving the company a HK$38 billion market capitalization.

Zhou Jian, chairman and CEO of UBTech Robotics, said, “After going public, we will continue to improve the technological capabilities of humanoid robots, and use innovative technologies to solve major social problems.”

Zhou said the company focuses on three major application scenarios for humanoid robots, including industrial manufacturing, commercial services and as home companions.

Chen Jia, a researcher at the International Monetary Institute of the Renmin University of China, said, “Humanoid robots will be an industry field with great growth potential in the next decade, driven by the latest technological advancements in artificial intelligence.”

The global humanoid robot market is expected to grow at a rate of 52.8 percent per year from 2023 to 2030, according to market research company ReportLinker.

The China Institute of Electronics also forecast that the domestic scale of the market for humanoid robots is expected to reach about 870 billion yuan ($122 billion) by 2030.

However, currently, humanoid robots are still in their very early stages of development. There are shortcomings in the design of humanoid robots, and their functionalities are not in line with the demand of customers. Technological hurdles also exist, said Chen.

The affordability of such robots is another challenge for current market applications, experts added.

The average selling price of the UBTech Robotics Walker series of humanoid robots is about 6 million yuan, compared to its more basic educational robots, which are priced below 15,000 yuan on average.

Due to its heavy R&D investment, the company is still not profitable. Last year, UBTech Robotics recorded more than 1 billion yuan in revenue, with its R&D spend accounting for 42.5 percent. Last year, the company posted a 987-million-yuan net loss.

The Ministry of Industry and Information Technology released a guideline in November aimed at promoting the development of the humanoid robotics industry.

The guideline said it aims to cultivate two to three globally influential humanoid robotics enterprises, and a group of specialized small and medium-sized enterprises by 2025.

By 2027, China will see a secure and reliable industrial and supply chain system, and related products will be deeply integrated into the real economy, the guideline said.



Source link

Visited 1 times, 1 visit(s) today

Related Article

Ernakulam rural police examine mobile phones seized from counterfeit currency case accused | Kochi News

Kochi: Ernakulam rural police have intensified investigation into a suspected counterfeit currency network after recovering three mobile phones from a 62-year-old man who was arrested for circulating fake notes. The accused, identified as Abdul Rasheed of Pathanapuram in Kollam, was taken into custody by Kuruppampadi police on Thursday.Officers said the phones were also examined by

iQOO 15 unboxed ahead of launch, charging speed downgrade confirmed

iQOO will unveil the iQOO 15 on October 20 at an event in Shenzhen, China. The brand recently shared some pictures of the iQOO 15, revealing its color options and giving us a fair idea of the smartphone’s design. Now, the iQOO 15 has appeared in an unboxing video posted by AnTuTu on Weibo, which

When It Helps And When It Hurts

If you’ve ever wondered why some people sip espresso like water while others end up wired at 3 am, you’re not alone. Coffee divides people – sometimes within the same household – into those who thrive on it and those who suffer the consequences. Mic the Vegan, a popular science communicator with a Master of

iPhone 17 vs. iPhone Air Battery Test Showdown: I Just Crowned A New Winner

Key takeaways: The iPhone 17 Pro Max has outstanding battery life that easily lasts all day with charge to spare. Our exclusive lab data shows you don’t need to pay over a grand for excellent battery life. The $829 iPhone 17’s battery lasts just as long as the $1,099 iPhone 17 Pro. The ultrathin iPhone

The latest mobile hotspots deliver 5G to almost any device while sparing your phone’s battery – here’s why businesses won’t want to snooze on the newest technology

Qualcomm’s recent announcement of the Snapdragon X2 Elite shows that the company continues to strengthen its push to gain a foothold in Windows PCs., particularly as Nvidia pumps investment into a reeling Intel. The X2 Elite outperforms Qualcomm’s previous PC offerings in all the important key metrics. But there’s one feature from the company’s early

Oppo Find X9 series coming to India in November

During the annual India Mobile Congress this year, Oppo and MediaTek announced that the Find X9 series will be the first smartphone lineup to feature MediaTek’s latest and greatest Dimensity 9500 SoC, which was announced in late September. That bit isn’t particularly new information, though. The interesting bit about the announcement is that the Find

Headlines from the Coffee Industry

Our recurring round-up of the latest specialty-coffee industry news. FROM STAFF REPORTS Featured image by Joshua Earle World Coffee Research Recognized in TIME Magazine’s Best Inventions of 2025 World Coffee Research has announced that their Innovea Global Coffee Breeding Network was named a Best Invention of 2025 by TIME Magazine. Launched in 2022, Innovea a

Domestic Violence Awareness: Waukesha coffee shops help spread word

WAUKESHA, Wis. – Coffee is serving as a conversation starter in Waukesha County during Domestic Violence Awareness Month.  Conversation starter What we know: It is a sobering reminder every October from The Women’s Center. Seventy-one people have been killed in Waukesha County acts of domestic violence since 1992.  Advocacy specialist Mo Dempsey said there was

Samsung Galaxy Tab S11 Ultra review

Introduction The Galaxy Tab S11 flagship series premiered at Berlin’s IFA this year and it is available in two sizes – the 11″ Tab S11 and the 14.6″ Tab S11 Ultra. Today, we will explore the larger of these slates, the most premium Samsung tablet right now – the Galaxy Tab S11 Ultra. Thin and

The Best Stovetop Espresso Maker for Design Enthusiasts (2025)

As you know, coffee is life in Italy. But you can still have la dolce vita stateside with the best stovetop espresso maker. Unlike espresso machines that can take up precious counter space, this type of model is typically the size of a tea kettle. The secret to making a great Italian coffee is rooted

Honor’s new teaser details the Magic8 Pro’s telephoto camera

Honor has released some new teasers about its upcoming Magic8 Pro, and specifically about its 200 MP telephoto camera. This will have a 1/1.4″ type sensor, the AIMAGE Honor Nox Engine, a large f/2.6 aperture, and, according to the brand, the industry’s first CIPA 5.5-stop image stabilization. This should handle hand shaking without issue as

Lawmakers Introduce Bipartisan Bill to Prohibit Student Cellphone Use in Pennsylvania Schools

Legislation responds to alarming declines in youth mental health, academic achievement, and social engagement.  HARRISBURG – Citing the steep decline in youth mental health and academic performance during the past decade, Sens. Devlin Robinson (R-37), Vince Hughes (D-7), and Steve Santarsiero (D-10) today announced the introduction of bipartisan legislation requiring Pennsylvania schools to adopt policies

0
Would love your thoughts, please comment.x
()
x