HK Stock Market Move | UBTECH ROBOTICS (09880) opens more than 7%, planning to acquire Zhejiang Fenglong Electric for 1.665 billion RMB. The humanoid Siasun Robot & Automation annual order total is nearly 1.4 billion RMB.

UBTECH ROBOTICS (09880) opened more than 7% higher, rising 7.21% to 117.4 Hong Kong dollars as of the deadline, with a turnover of 385.718 million Hong Kong dollars. On the news front, on December 24th, UBTECH ROBOTICS announced that it had acquired a total of 93,957,518 shares of Zhejiang Fenglong Electric, a Shenzhen-listed company, accounting for 43% of Zhejiang Fenglong Electric's total shares, through a combination of "agreement transfer + tender offer". According to the announcement, the share transfer price and tender offer price in this change of control scheme are both 17.72 yuan per share, totaling 1.665 billion yuan. It is reported that Zhejiang Fenglong Electric, as a specialized and high-tech enterprise, has long been engaged in the research and manufacturing of lawn machinery and engines, hydraulic control systems, and automotive parts, with solid precision manufacturing capabilities, a mature supply chain system, and a wide customer base. Of note, recently UBTECH ROBOTICS won the bids for the Huizhou-Huayang District Humanoid Siasun Robot & Automation Greater Bay Area Data Acquisition Center project and the Hohhot Intelligent Technology Center Equipment Procurement project, with bid amounts of 59.62 million yuan and 77.80 million yuan respectively, totaling over 130 million yuan. By 2025, UBTECH ROBOTICS has nearly 1.4 billion yuan in orders for humanoid Siasun Robot & Automation, leading the global humanoid Siasun Robot & Automation industry. On December 26th, the 1000th Walker S2 from UBTECH ROBOTICS rolled off the production line at the Liuzhou Siasun Robot & Automation Super Smart Factory, achieving a production capacity of a thousand units for the year. It is estimated that by 2026, UBTECH ROBOTICS' annual production capacity for humanoid Siasun Robot & Automation will reach tens of thousands.