于本公告日期，公司尚未就H股全流通及转换及上市分别向中国证监会及联交所提出申请、公司有关H 股全流通及转换及上市的实施计划的细节尚未落实，而H股全流通及转换及上市仍须满足中国证监会、 联交所及其他有关监管机构的其他相关程序规定后方可完成。 越疆(02432)公布，董事会于2025年8月4日审议和批准实施H股全流通的建议，即拟将公司若干股东所持 有的公司19,688,106股境内未上市股份(内资股)转换为公司的H股(H股)，占于本公告日期本公司已发行 股份总数约4.65%(H股全流通)。完成有关备案并取得所有相关批准(包括中国证监会备案)及符合所有适 用法例、规则及条例后，该等内资股将转换为H股。公司亦会向联交所申请批准该等H股在联交所主板 上市及买卖。 ...

Core Viewpoint - The company has proposed to implement H-share full circulation by converting 19,688,106 domestic unlisted shares into H-shares, representing approximately 4.65% of the total issued shares as of the announcement date [1] Group 1 - The board of directors approved the proposal for H-share full circulation on August 4, 2025 [1] - The conversion of domestic shares into H-shares is subject to obtaining all necessary approvals, including from the China Securities Regulatory Commission (CSRC) [1] - The company plans to apply for the listing and trading of these H-shares on the main board of the Stock Exchange of Hong Kong [1] Group 2 - As of the announcement date, the company has not yet submitted applications for H-share full circulation and conversion to the CSRC and the Stock Exchange [1] - Details regarding the implementation plan for H-share full circulation and conversion have not been finalized [1] - The completion of the H-share full circulation and conversion is contingent upon meeting the regulatory requirements set by the CSRC, the Stock Exchange, and other relevant authorities [1]

Core Viewpoint - The company, 越疆 (02432.HK), announced the board's approval for the implementation of H-share full circulation, converting 19,688,106 domestic unlisted shares into H-shares, representing approximately 4.65% of the total issued shares as of the announcement date [1] Group 1 - The board approved the proposal for H-share full circulation on August 4, 2025 [1] - The conversion of domestic shares into H-shares is subject to obtaining all necessary approvals, including from the China Securities Regulatory Commission [1] - The company will apply for the listing and trading of these H-shares on the main board of the Hong Kong Stock Exchange [1]

Core Viewpoint - The company, 越疆 (02432.HK), has announced a board meeting scheduled for August 28, 2025, to review and approve its mid-term performance for the six months ending June 30, 2025, and to consider the proposal for an interim dividend, if any [1] Group 1 - The board meeting will take place on August 28, 2025 [1] - The agenda includes reviewing and approving the mid-term performance for the six months ending June 30, 2025 [1] - The company will consider the proposal for an interim dividend during the meeting [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任 何 損 失 承 擔 任 何 責 任。 SHENZHEN DOBOT CORP LTD 深圳市越疆科技股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2432） 建議實施H股全流通 深 圳 市 越 疆 科 技 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）欣 然 宣 佈， 鑑 於 中 國 證 券 監 督 管 理 委 員 會（「中國證監會」）於2023年2月17日 發佈並於 2023年3月31日 生 效 的《境 內 企 業 境 外 發 行 證 券 和 上 市 管 理 試 行 辦 法》（「試 行辦法」），以 及 中 國 證 監 會 於2019年11月14日 發佈並於2023年8月10日 修 訂 的《H股 公 司 境 內 未 上 市 股 份 申 請「全 流 通」業 務 指 引》（「指 引」），乃 關 於 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任 何 損 失 承 擔 任 何 責 任。 SHENZHEN DOBOT CORP LTD 董事會會議召開日期 劉培超先生 深 圳，2025年8月4日 深圳市越疆科技股份有限公司 於本公告日期，董事會包括(i)執行董事劉培超先生、王勇先生及郎需林先生； (ii)非 執 行 董 事 景 亮 先 生；及(iii)獨 立 非 執 行 董 事 李 貽 斌 先 生、吳 浩 雲 先 生 及 侯 玲 玲 博 士。 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） 深 圳 市 越 疆 科 技 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，本 公司將於2025年8月28日（星 期 四）舉 行 董 事 會 會 議，其 中 議 程 包 括 審 議 及 批准本公司及其附屬公司截至2025年6月30日止六個月之中期業績及其 刊 發，並 考 慮 派 ...

I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02432 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 358,038,547 | RMB | | 1 RMB | | 358,038,547 | | 增加 / 減少 (-) | | | 19,100,000 | | | RMB | | 19,100,000 | | 本月底結存 | | | 377,138,547 | RMB | | 1 RMB | | 377,138,547 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 深圳市越疆科技股份有限公司（「本公司」） 呈交日期: 2025年8月4日 | 2 ...

Investment Rating - The report rates the robotics industry as "Overweight," indicating an expectation for the industry to outperform the overall market [3]. Core Insights - The trend of robot companies achieving securitization is gaining momentum, with companies like UBTECH and Yujian listed on the Hong Kong stock exchange, and several component companies being acquired by listed firms [3]. - The transition from research and development to small-scale production is underway, with batch orders being placed, reversing previous pessimistic expectations regarding the commercialization of humanoid robots [3]. - Recent procurement results from China Mobile indicate significant orders for humanoid robots, totaling approximately 124.05 million yuan, aimed at various applications including education and healthcare [3]. - The report highlights the stabilization and recovery of the sector, with domestic robotics chains like Zhiyuan and Yujian leading the market [3]. Summary by Sections Industry Overview - The robotics industry is witnessing a shift towards commercialization, with several companies making significant progress in securing funding and orders [3]. - The report notes the involvement of major tech players like Huawei in promoting AI and robotics innovation [3]. Key Companies and Valuations - The report provides a valuation table for key companies, including UBTECH, Yujian, and others, detailing their earnings per share (EPS) and price-to-earnings (PE) ratios for the upcoming years [4]. - For instance, UBTECH's stock closed at 77.10 HKD with a projected EPS of -2.54 for 2024, while Yujian's stock closed at 58.35 HKD with a projected EPS of -0.24 for the same year [4]. Investment Recommendations - The report suggests focusing on domestic robotics chains, including main players like UBTECH and Yujian, as well as component suppliers such as Zhongdali and Shangwei New Materials [3]. - It also highlights the importance of the screw and reducer industry chain, recommending companies like Sanhua Intelligent Control and Siling Co., Ltd. for potential investment [3].

Core Viewpoint - The leading global collaborative robot company, Yujian Technology, announced a significant financing plan to raise over HKD 1 billion through a discounted share placement to accelerate technology research and global market expansion [1][2]. Financing Plan - Yujian plans to issue 19.1 million new H-shares at a price of HKD 54.3 per share, representing a discount of approximately 9.5% from the last closing price of HKD 60 [1]. - The share placement will dilute the existing share capital by about 4.73%, with a projected net fundraising amount of approximately HKD 1.022 billion after expenses [1]. Strategic Focus - The raised funds will be allocated to four strategic areas: increasing investment in core technology research, seeking opportunities for industry chain integration, expanding global sales channels, and supporting operational funding for emerging application scenarios [1][2]. Financial Performance - For 2024, Yujian reported a revenue of HKD 374 million, a year-on-year increase of 30.3%, but still recorded a net loss of HKD 103 million [2]. - The adjusted loss narrowed significantly by 55.4%, with a gross margin improvement to 46.6% [2]. Product and Market Position - Yujian's core product, the six-axis collaborative robot, contributed 55.9% of total revenue, with a strong year-on-year growth of 55.5% [2]. - The company has a self-research rate of over 90% for key components and has accumulated 961 patents [2]. Market Expansion - Yujian's products are currently available in over 80 countries and regions, serving more than 80 Fortune 500 companies, with overseas revenue accounting for 59% [3]. - The capital injection is expected to enhance competitiveness against international giants in terms of R&D speed, production capacity, and market coverage [3]. Market Reaction - Following the announcement, Yujian's stock price fell by 2.67% to HKD 58.4, but has seen a cumulative increase of 146.41% this year [3][4]. - Analysts believe that while the discounted placement may cause short-term stock volatility, the funding is likely to accelerate the company's path to profitability [3]. Challenges Ahead - Yujian faces ongoing profitability pressures, with R&D expenses reaching HKD 77.52 million in 2024, necessitating broader scale applications to dilute high costs [3]. - The economic viability of new commercial service robots will be crucial for large-scale market adoption [3].

Group 1 - The core point of the article is that 越疆科技 (stock code: 2432) announced a financing plan through the placement of new H-shares, aiming to raise approximately HKD 10.4 billion, with net proceeds expected to be around HKD 10.2 billion after expenses [1] - The company will issue 19,100,000 new H-shares at a placement price of HKD 54.30, which represents a discount of about 9.5% compared to the previous trading day's closing price of HKD 60.00 [1] - The new shares will account for approximately 4.7% of the existing issued share capital and about 4.5% of the enlarged share capital after the completion of the placement [1] Group 2 - The funds raised will be utilized for advancing technology research and product innovation in the field of intelligent robotics, seeking investment acquisition opportunities in the robotics value chain and adjacent sectors, expanding domestic and international sales networks, enhancing marketing activities, and supplementing working capital for general corporate purposes [1] - The issuance is based on a general authorization granted by the shareholders' meeting and is expected to be completed by July 29, 2025 [1]