Chinese Robots at This Level? Chinese Humanoid Company Rivals Boston Dynamics and Tesla [Weekend Money]
Yuanta Securities: "Ubiquitech Leads Competitors in Shipments"
Attractive Investment Due to Low Corporate Valuation
Ubiquitech, a Chinese humanoid robotics company listed on the Hong Kong stock exchange, is considered undervalued, with expectations that its performance growth will continue.
Paek Jongmin, a researcher at Yuanta Securities, stated, "Despite surpassing leading global humanoid robotics companies such as Boston Dynamics and Tesla Optimus in terms of shipments and references, Ubiquitech's corporate value, estimated at around 10 to 14 trillion won, is considered to be in an attractive range."
Founded in 2012, Ubiquitech specializes in humanoid and intelligent service robots. It launched China's first commercialized humanoid robot series (Walker) and shipped 1,079 robots last year. This series has secured proven references by being deployed on more than 10 production lines, including those of Foxconn, BYD, NIO, Volkswagen, and Geely. Furthermore, the company is seen as having a structural advantage in the Chinese government-led program to deploy over 10,000 humanoid robots in the field by the end of this year.
In addition to its established strength in the industrial sector, Ubiquitech is also targeting the general commercial humanoid market. The bionic (emotional) humanoid U1 series, scheduled for release at the end of this month, received more than 4,000 pre-orders within just two weeks of opening reservations.
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Researcher Paek commented, "Ubiquitech's humanoid lineup secured a gross profit margin (GPM) of over 50% last year through in-house design and domestic component sourcing in China. With the company entering a full-scale mass production phase this year, performance growth accompanied by profitability is expected to continue." However, he also noted, "There are risk factors, including intensifying ASP competition with companies such as Agibot and Unitree within China, strengthened U.S. semiconductor chip export restrictions to China, and reduced investment from client companies."
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