Yamato: Initiated with a "buy" rating on UB Group (09880.HK) with a target price of HK$114.

The Economic APP has learned that Daiwa has released a research report stating that Intelligent Robotics company Ubtech (09880.HK) has cutting-edge technology and a strong market leadership position in the field of industrial humanoid robots. They have initiated coverage on Ubtech with a "buy" rating and a target price of 114 Hong Kong dollars, based on a forecasted average market-to-sales ratio of 19 times for 2025 to 2026, similar to its average since its listing in 2024. However, due to multiple rounds of equity financing, its valuation is discounted by nearly 50% compared to its peers. Daiwa predicts that Ubtech's average compound annual revenue growth rate from 2024 to 2027 will be around 70%, nearly leading the industry.