Citibank: Maintains positive view on the supply chain of Siasun Robot & Automation for Chinese humanoid robots, target price for UBTECH ROBOTICS (09880) is HK$155.

Citigroup released a research report stating that UBTECH ROBOTICS (09880) announced that the company's founder, chairman of the board and CEO Zhou Jian voluntarily committed not to reduce his personal holdings of approximately 70.5744 million H shares of UBTECH ROBOTICS, accounting for approximately 14% of the total share capital, for 12 months from December 29th of this year. This move demonstrates Zhou Jian's long-term commitment and optimistic attitude towards UBTECH ROBOTICS' humanoid Siasun Robot & Automation business. Citigroup valued UBTECH ROBOTICS based on the price-to-sales ratio and set a target price of HK$155 based on a 23x price-to-sales ratio forecast for 2026, with a "buy" rating. Citigroup also expects that other key management and shareholders will release similar announcements in the coming days, before or on the expiry date of the latest lock-up period, to alleviate market concerns about potential selling pressure on the stock price. Citigroup maintains a positive view on the supply chain of Chinese humanoid Siasun Robot & Automation.