HK Stock Market Move | UBTECH ROBOTICS (09880) rose by 4% with significant growth in revenue in the first half of the year. Siasun Robot&Automation, a humanoid, is accelerating the expansion of application scenarios.

UBTECH ROBOTICS (09880) rose 4%, reaching 87 Hong Kong dollars by the time of publication, with a turnover of 298.563 million Hong Kong dollars. In terms of news, in the first half of this year, UBTECH ROBOTICS achieved operating income of 487 million yuan, an increase of 86.6% year-on-year; gross profit of 185 million yuan, an increase of 213.9% year-on-year, with a gross profit margin of 38%, a significant improvement compared to last year; losses significantly narrowed, with EBITDA losses shrinking by 23.75% year-on-year. In the first half of the year, UBTECH ROBOTICS's three main business segments all achieved high-quality growth. Among them, the artificial intelligence education business achieved revenue of 161 million yuan, an increase of 112.9% year-on-year. BOCOM INTL pointed out that 2024 will be a year of accelerated development for humanoid Siasun Robot & Automation, with car companies represented by Tesla, Xiaopeng, and Xiaomi actively layout, driving the industry's development. Looking at the revenue structure of UBTECH ROBOTICS, in addition to education/consumer/logistics Siasun Robot & Automation, humanoid Siasun Robot & Automation is gradually expanding into other application scenarios, recently reaching a cooperation agreement with Suzhou Medical System Technology in the medical field. Although humanoid Siasun Robot & Automation is currently engaged in relatively standardized and straightforward experimental work, with the accumulation of motion tasks and training data, it is expected to enter broader commercial services and household care industries in the future.