On August 28, UBTECH ROBOTICS (09880.HK) released its interim results for 2026. During the reporting period, the company achieved operating revenue of 1.269 billion yuan, a year-on-year increase of 104.2%; gross profit reached 567 million yuan, up 160.9% year-on-year; the overall gross margin improved from 35% in the same period last year to 44.7%, an increase of 9.7 percentage points year-on-year.

While both revenue scale and gross profit levels improved simultaneously, UBTECH's losses further narrowed. In the first half of 2026, the company's operating loss was 279 million yuan, compared with 439 million yuan in the same period last year; the period loss was 339 million yuan, a year-on-year decrease of 23.0%, compared with a loss of 440 million yuan in the same period last year.

By business segment, full-size embodied intelligent humanoid robot products and solutions became the main growth driver for the company in the first half of the year. During the reporting period, this business achieved operating revenue of 590 million yuan, a year-on-year increase of 1445.0%, and its share of the company's total revenue surged from 6.1% in the same period last year to 46.5%, making it the largest revenue source for UBTECH.

For other businesses, non-embodied intelligent humanoid robot products and solutions generated revenue of 32.725 million yuan, up 21.9% year-on-year; other intelligent robot products and solutions revenue was 246 million yuan, down 18.8% year-on-year; other intelligent hardware equipment revenue was 259 million yuan, up 2.9% year-on-year; and the garden machinery, automotive, and hydraulic components business achieved revenue of 139 million yuan, accounting for 11% of total revenue.

In terms of product layout, UBTECH continues to refine its embodied intelligent humanoid robot product matrix. The company launched the Cruzr Y1 wheeled humanoid robot for industrial scenarios such as manufacturing and warehousing; introduced the Walker C1 bipedal humanoid robot for commercial services, education, and scientific research scenarios; and unveiled the U1 series of bionic humanoid robots for commercial and consumer-level companion scenarios.

The company stated that the increasingly diversified product matrix is driving embodied intelligent humanoid robots to expand into multiple scenarios, including manufacturing, warehousing, commercial services, education and scientific research, and consumer companionship. Based on the current financial data, the revenue share of the full-size humanoid robot business has increased significantly and has become a key force driving UBTECH's revenue growth, gross margin improvement, and loss reduction.