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<Research>JPM Raises UBTECH ROBOTICS Walker S Series Humanoid Robot Shipment Target, Maintains Overweight Rating
Recommend 8 Positive 19 Negative 5 |
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JP Morgan issued a report covering UBTECH ROBOTICS (09880.HK), which held an investor meeting after its results announcement. The management positioned 2026 as a year of "large-scale commercialization" and radically raised the shipment target for the Walker S series humanoid robots from 2,000-3,000 units to 5,000 units, with production capacity planning moving toward 10,000 units. The broker cited management as emphasizing that, while government orders remain a key driver, the company also acknowledged the need to shift toward more industrial and overseas deployments to demonstrate the sustainability of its business model. The management voiced confidence in further improving gross margin, targeting an increase in the group’s gross margin to 43%-44% (FY25: 37.7%), and expected to achieve breakeven earlier than the original 2027 timetable. Auto-translated by AI AASTOCKS Financial News |
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