UBTECH Robotics Secures RMB 250 Million Humanoid Robot Order Following $1 Billion Strategic Funding
UBTECH Robotics announced it secured a RMB 250 million yuan ($34.5 million) contract from an unnamed domestic enterprise for humanoid robot products and solutions, marking another commercial breakthrough for the world's first publicly listed humanoid robot company.
The contract, announced Wednesday evening, centers on the company's industrial humanoid robot Walker S2, with delivery scheduled to begin within 2025. This follows a RMB 90.51 million yuan contract secured in July from Miyi (Shanghai) Automotive Technology Co., representing the second major order and setting a new record for the largest humanoid robot company contracts globally.
According to the company, Walker series humanoid robots have accumulated nearly RMB 400 million yuan in contracts to date, including RMB 50 million yuan in deliveries completed in the first half of 2025. This figure excludes orders for the full-size research and education humanoid robot developed with Beijing Humanoid Robot Innovation Center, which has received hundreds of orders with over 300 units expected for delivery in 2025.
The announcement comes just days after UBTECH signed a $1 billion strategic partnership agreement with Middle East investment fund Infini Capital on August 31. Under the agreement, Infini Capital's high-tech fund will provide UBTECH with a $1 billion strategic financing credit facility through various instruments including share placements, convertible bonds, and cash drawdown rights.
The partnership also includes industrial collaboration, with Infini Capital leveraging its existing investments in Chinese AI and robotics companies including SenseTime, 4Paradigm, and BYD to support UBTECH's ecosystem development and Middle East market expansion through a joint venture.
In its interim results released August 29, UBTECH projected delivering 500 industrial humanoid robots within 2025. Citibank, which had previously downgraded its delivery forecasts for UBTECH to 300 units for 2025 and 1,000 for 2026, revised its projections upward following the interim results, now expecting over 500 deliveries in 2025 and 2,000-3,000 units in 2026.
UBTECH went public on the Hong Kong Stock Exchange in December 2023 at HK$90 per share. The stock closed at HK$103.4 on Tuesday, giving the company a market capitalization of approximately HK$48.8 billion, down from its peak of HK$328. The company has completed five placement financings since listing, raising a total of approximately HK$4.54 billion.