At a critical inflection point in the industrialization of humanoid robots, UBTECH ROBOTICS is advancing on multiple fronts. On July 28, UBTECH ROBOTICS officially announced the completion of its fifth share placement since listing, placing a total of 30.155 million shares and raising HK$2.41 billion (approximately US$315 million), marking the largest share placement financing by a listed humanoid robotics company in capital market history.

On the same day, JPMorgan Chase released a research report, providing first-time coverage of UBTECH ROBOTICS, the "first humanoid robotics stock," with an "overweight" rating and a target price of HK$135. The report recognized UBTECH ROBOTICS as a pioneering enterprise in the humanoid robotics industry that has built a deep customer base and emerged as an industry leader.

Additionally, UBTECH ROBOTICS recently set a record for the largest single order in the global humanoid robotics field and launched the Walker S2, an industrial humanoid robot with all-weather operational capabilities. From securing orders and transitioning from laboratories to factories, to using data from training and application scenarios to enhance R&D and drive innovation, UBTECH ROBOTICS is using real demand to define evolution and comprehensively accelerate the commercial deployment of humanoid robots.

**Capital Support: Completing Largest-Scale Placement**

On July 28, UBTECH ROBOTICS announced the completion of its fifth post-IPO share placement, placing a total of 30.1555 million shares and raising HK$2.41 billion (approximately US$315 million). The total funds raised in this placement exceeded the combined amount of the previous four placements, becoming the largest share placement financing by a listed humanoid robotics company in capital market history.

According to market sources, the raised funds are expected to be used for enhancing UBTECH ROBOTICS' humanoid robot production capacity, procuring raw materials for humanoid robot delivery orders, expanding production capacity for other robotic products, and future investments and acquisitions in upstream and downstream supply chains. After the humanoid robot capacity expansion, UBTECH ROBOTICS' annual production capacity for full-size humanoid robots, including the Walker S2, is expected to exceed 10,000 units.

On the same day, JPMorgan Chase released a research report stating that UBTECH ROBOTICS, as a pioneering enterprise in the humanoid robotics industry, has built a deep customer base, including leading companies such as BYD, Foxconn, Geely Auto, Dongfeng Liuzhou Motor, and BAIC BluePark New Energy. Through these collaborations, UBTECH ROBOTICS has secured a considerable number of confirmed orders and has become a leader in this rapidly developing industry.

**Emerging from Training: Walker S2 Accelerates Technological Evolution**

The core challenge for humanoid robots transitioning from laboratories to factories has always been: Can they solve real pain points? The answer from UBTECH ROBOTICS Vice President and Research Institute Director Jiao Jichao comes from the frontlines: "In industrial scenarios such as automotive factories during training, we have accumulated massive amounts of data. This has not only enabled us to precisely focus on high-frequency essential tasks such as handling and sorting but also provided deeper understanding of customers' unmet needs and technical challenges."

Training serves as a mirror, reflecting both factories' high requirements for stability and efficiency while exposing key bottlenecks in the commercial deployment of humanoid robots. "All R&D must stem from real pain points," Jiao emphasized.

Against the backdrop where the humanoid robotics industry generally faces the reality of "easy body manufacturing but difficult deployment," UBTECH ROBOTICS also recognizes that relying solely on hardware manufacturing or strategic orders is insufficient to support long-term value. Only by achieving dual breakthroughs in scalable capabilities and scenario penetration through deep hardware-software integration can the key pathway for humanoid robots to achieve commercial deployment first be established.

Perhaps based on this understanding, when battery life had not yet become a priority for robot manufacturers' "evolution" focus, UBTECH ROBOTICS had quietly completed a leap by launching the world's first hot-swappable autonomous battery replacement system. Jiao stated bluntly: "The pain point of battery life is a conclusion we reached from surveying numerous automotive factories and other industrial scenario customers."

As currently the world's only autonomous battery replacement solution capable of achieving 24-hour uninterrupted operation, this technology is not only an innovative solution to battery life issues but also a key body capability for the commercial deployment of humanoid robots. In the future, with large-scale applications, autonomous battery replacement may become standard configuration for humanoid robots.

Furthermore, in industrial scenarios, executing functional tasks on production lines requires humanoid robots to possess both standalone closed-loop operational capabilities and group collaborative operational abilities. Therefore, at the software level, UBTECH ROBOTICS continues to drive the intelligent development process of humanoid robots.

In March this year, UBTECH ROBOTICS conducted the world's first multi-unit, multi-scenario, multi-task humanoid robot collaborative training at Zeekr's 5G smart factory, achieving "collective intelligence." Based on the characteristics of Walker S2, UBTECH ROBOTICS has further upgraded and iterated collective intelligence.

The Group Brain Network 2.0 and Co-Agent technology jointly constitute the AI dual-cycle system for industrial humanoid robots, enabling each robot to independently execute tasks while serving as dynamic nodes for collaborative synergy, comprehensively improving operational levels.

**Securing Major Orders: Real Investment Validates Commercial Value**

2025 serves as both the mass production year and the commercialization year, with large orders densely deployed as the market votes with real money for technological breakthroughs. Since this year, UBTECH ROBOTICS has secured numerous commercial batch orders for humanoid robots. In addition to the record-breaking RMB 90.5115 million order, in April this year, UBTECH ROBOTICS officially signed a large-scale bipedal humanoid robot procurement contract with purchasers. The products involved mainly include the industrial humanoid robot Walker S1 and the commercial humanoid robot Walker C, with related products to be used in automotive factory production manufacturing and commercial reception functions.

This marks the first time globally that a humanoid robotics company has signed a small-batch humanoid robot procurement contract for factory manufacturing scenarios. To date, UBTECH ROBOTICS' Walker S series has become the industrial humanoid robot that has entered the most automotive factories for training globally.

China's humanoid robot application process is accelerating, with industrial scenarios becoming the core battlefield for commercial deployment. In Jiao Jichao's view, industrial handling positions are likely to achieve large-scale deployment first within one to two years.

In the research scenario, on July 13, UBTECH ROBOTICS announced that Tiangong Walker, since its release on March 12, has received orders for hundreds of units, with expected deliveries of over 300 Tiangong Walker humanoid robots in the education and research sectors this year.

According to UBTECH ROBOTICS' projections, if all scenarios deploy smoothly, optimistic estimates suggest humanoid robot deliveries could reach several thousand units in 2026, with potential for ten thousand-level deliveries in 2027.