Summary of the Conference Call for UBTECH Robotics Company Overview - **Company**: UBTECH Robotics - **Industry**: Humanoid Robotics Key Financial Performance - **Revenue**: Achieved 621 million RMB in H1 2025, a year-on-year increase of 27.55% [3] - **Gross Profit**: 217 million RMB, up 17.3% year-on-year, with a slight decrease in gross margin to 35% from 38% [3] - **Net Loss**: Reduced to 410 million RMB, a decline of 19.89% year-on-year [3] - **Total Assets**: Increased to 5.258 billion RMB, with a debt-to-asset ratio down to 50.3% from 56.2% [3] - **Cash Flow**: Operating cash flow improved, narrowing losses to 370 million RMB [3][23] Market Performance - **Market Activity**: Daily trading volume reached 933 million RMB, with market capitalization rising from 18 billion RMB at the beginning of the year to 45.2 billion RMB [5] - **Capital Raising**: Completed two rounds of lightning placements, raising 3.38 billion HKD to support humanoid robot commercialization [5] Technological Advancements - **Product Development**: New generation Walker S2 humanoid robot features over 50 degrees of freedom, enhancing adaptability in industrial scenarios [2][6] - **Technical Breakthroughs**: Focus on multi-modal perception, AI integration, and advanced motion control technologies [6] - **Product Launches**: Introduced the Clouser S2 robot, utilizing visual laser navigation technology for versatile applications [6] Commercialization Progress - **Contracts**: Signed a small batch procurement contract with Dongfeng Liuzhou Motor, marking a significant step towards commercialization [7] - **Orders**: Secured over 90 million RMB in orders within the automotive industry, with expectations to exceed 500 units in industrial humanoid robot shipments for the year [7][8] - **Client Base Expansion**: Targeting diverse sectors including 3C manufacturing, heavy equipment, advanced semiconductor manufacturing, and aerospace [8] Future Development Plans - **Product Iteration**: Plans to enhance the Walker SR series and expand application scenarios in the second half of 2025 [12] - **Market Strategy**: Aiming to increase customer base and order volume, with a goal to exceed performance targets by year-end [9] - **Educational Initiatives**: Focus on AI education solutions, establishing youth AI education bases in multiple regions [10] Industry Standards and Collaborations - **Standardization Efforts**: Leading the establishment of national standards for humanoid robots, collaborating with Beijing Guodi to create an innovation center [10][33] - **Data Collection Bases**: Established data collection bases in Beijing and Shanghai to enhance AI model training and performance optimization [34] Cost Management and Efficiency - **Cost Reduction Strategies**: Implementing measures to lower production costs by 20-30% through design optimization and material substitution [28][30] - **Production Capacity**: Targeting monthly production of 300 humanoid robots starting August 2025, with an annual capacity exceeding 1,000 units [20] Customer Feedback and Market Response - **Client Reception**: Positive feedback from clients following on-site tests, leading to commercial orders [27] - **Market Demand**: Anticipating strong demand from manufacturing sectors, particularly automotive and 3C industries [22] Conclusion UBTECH Robotics is positioned for significant growth in the humanoid robotics sector, with a focus on technological innovation, market expansion, and strategic partnerships. The company aims to leverage its advancements to meet increasing market demands while maintaining a commitment to cost efficiency and product quality.

智通财经APP获悉，优必选(09880)早盘涨超7%，截至发稿，涨5.43%，报100.9港元，成交额4.69亿港 元。 消息面上，8月31日，优必选科技宣布，公司已与国际投资机构Infini Capital正式签署10亿美金战略伙伴 合作协议。根据合作协议，Infini Capital旗下高新技术基金为优必选提供一笔总额为10亿美金的战略融 资授信额度，融资方式包括参与配售、认购可转债、授予现金提款权等。 值得注意的是，优必选上周五盘后公布中期业绩。今年上半年，优必选实现营收6.21亿元，同比增长 27.5%；实现毛利2.17亿元，同比增长17.3%；研发费用2.18亿元，占营收35.1%。报告期内，公司人工 智能教育业务与消费级机器人及其他硬件设备业务均实现了近50%的同比增长。 此外，双方达成多项产业战略合作内容：Infini Capital计划在合适时机增持优必选股票，目标成为优必 选不超过5%持股比例的重要股东；协助优必选开拓中东市场，成立中东合资公司，计划在中东建立超 级工厂和研发中心以及中东总部。 ...

Core Insights - International long-term capital is investing in China's leading humanoid robot company, UBTECH, with a strategic partnership agreement worth $1 billion signed with Infini Capital [1][2] - This collaboration signifies international patient capital's long-term optimism towards China's humanoid robot industry, following the involvement of the world's largest sovereign wealth fund in UBTECH's placement [1] Financing and Strategic Cooperation - Infini Capital's high-tech fund will provide UBTECH with a total strategic financing credit line of $1 billion, which includes participation in placements, subscription to convertible bonds, and cash withdrawal rights [3] - The partnership aims to enhance UBTECH's industrial layout capabilities and includes plans for Infini Capital to increase its stake in UBTECH to a maximum of 5% [3] - Both parties will collaborate to invest in the humanoid robot supply chain and assist UBTECH in establishing a presence in the Middle East, including setting up a joint venture and a super factory [3] Company Performance and Growth - UBTECH reported a revenue of 621 million yuan for the first half of 2025, representing a year-on-year growth of 27.5%, with a gross profit of 217 million yuan, up 17.3% [6] - The company is accelerating the delivery of humanoid robots, with plans to deliver 500 industrial humanoid robots within 2025 [6] - UBTECH's focus on research and development in embodied intelligent humanoid robots has led to significant advancements, including the development of the Co-Agent technology for collaborative tasks [6][7] Technological Innovations - UBTECH is committed to advancing key technologies such as humanoid brain simulation, high-performance actuators, and multimodal interaction technologies [7] - The latest generation of industrial humanoid robots, Walker S2, features enhanced task planning, dexterous operation, navigation, and human-robot interaction capabilities [7] - UBTECH has pioneered a hot-swappable autonomous battery replacement system for humanoid robots, allowing for continuous operation and redefining energy management paradigms [8]

Core Insights - UBTECH has signed a strategic partnership agreement with Infini Capital for a total of $1 billion, focusing on financial support and industrial collaboration [1] Financial Support - Infini Capital's high-tech fund will provide UBTECH with a strategic financing credit line of $1 billion, which includes options for participation in placements, subscription to convertible bonds, and cash withdrawal rights [1] - The cash withdrawal rights channel will enhance UBTECH's capability for significant industrial layout [1] Industrial Collaboration - Infini Capital plans to gradually increase its stake in UBTECH, aiming to become a significant shareholder with no more than 5% ownership [1] - The partnership will involve joint investments in the humanoid robot supply chain to help UBTECH build an ecosystem [1] - Infini Capital will assist UBTECH in developing more powerful and cost-effective humanoid robots by leveraging its investments in AI and robotics companies [1] - The collaboration includes plans to explore the Middle Eastern market, with intentions to establish a joint venture in the region, including a super factory, research center, and headquarters [1] Company Positioning - As the "first stock of humanoid robots," UBTECH has established partnerships with leading companies such as BYD, SF Express, and Foxconn [1] - The Walker S series industrial humanoid robots from UBTECH have been deployed in the most factories globally for training purposes [1]

Core Insights - UBTECH Robotics has signed a strategic partnership agreement with Infini Capital for a total financing credit line of 1 billion USD, focusing on financial support and industrial collaboration [1][2] - Infini Capital plans to increase its stake in UBTECH to a maximum of 5% and will assist in developing the humanoid robot ecosystem, leveraging its previous investments in AI and robotics [1][2] - The collaboration aims to enhance UBTECH's capabilities in technology research and market expansion, solidifying its leading position in the humanoid robotics sector [4] Financial Aspects - Infini Capital will provide a strategic financing credit line of 1 billion USD, which includes options for participation in placements, subscription of convertible bonds, and cash withdrawal rights [1] - The partnership is expected to significantly improve UBTECH's ability to execute major industrial layouts [1] Strategic Collaborations - Infini Capital will assist UBTECH in establishing a joint venture in the Middle East, including plans for a super factory and R&D center [1][2] - The collaboration will also focus on investing in the upstream and downstream supply chain of humanoid robots, enhancing UBTECH's product capabilities and cost efficiency [1][2] Market Position - UBTECH is recognized as the "first stock of humanoid robots" and has established partnerships with leading companies such as BYD, Audi, and Foxconn [2] - The company has achieved significant milestones, including winning the largest procurement order in the humanoid robotics sector, valued at 90.51 million CNY [2]

此外，双方利用各自优势，还达成多项产业战略合作内容：Infini Capital计划在合适时机增持优必选股 票，目标成为优必选不超过5%持股比例的重要股东；双方联手投资人形机器人上下游产业链，协助优 必选打造生态圈；Infini Capital充分利用之前所投人工智能和机器人产业链企业，协助优必选打造功能 更强、成本更低的人形机器人；同时，协助优必选开拓中东市场，成立中东合资公司，计划在中东建立 超级工厂和研发中心以及中东总部，共同推动中国人形机器人走向世界。 格隆汇8月31日｜日前，优必选与国际知名投资机构Infini Capital正式签署10亿美金战略伙伴合作协议。 双方合作将围绕资金支持和产业协同两方面展开。根据合作协议，Infini Capital旗下高新技术基金为优 必选提供一笔总额为10亿美金的战略融资授信额度，融资方式包括参与配售、认购可转债、授予现金提 款权等。尤其是授予优必选在有需要时，给予优必选10亿美金现金提款权的快速融资通道，将大大提升 优必选的重大产业布局能力。 ...

8月31日，智通财经记者获悉，日前，优必选与Infini Capital（无极资本）正式达成合作。根据合作协 议，Infini Capital承诺为优必选提供一笔总额为10亿美元的战略融资授信额度，融资方式将包括认购增 发股份、可转债，以及授予优必选10亿美元的提款权，给予优必选快速融资渠道。除战略融资外，双方 还就产业资本共享与业务合作达成了战略伙伴合作关系。 ...

根据合作协议，Infini Capital旗下高新技术基金将为优必选提供一笔总额为10亿美元的战略融资授信额 度，融资方式包括参与配售、认购可转债、授予现金提款权等。尤其是授予优必选在有需要时可使用的 10亿美元现金提款权这一快速融资通道。 每经记者｜杨卉 每经编辑｜张海妮 此外，双方还达成多项产业战略合作内容：Infini Capital计划在合适时机增持优必选股票，目标是成为 优必选不超过5%持股比例的重要股东；双方联手投资人形机器人上下游产业链，协助优必选打造生态 圈；Infini Capital充分利用之前所投人工智能和机器人产业链企业，协助优必选打造功能更强、成本更 低的人形机器人；协助优必选开拓中东市场，成立中东合资公司，计划在中东建立超级工厂和研发中心 以及中东总部，共同推动中国人形机器人走向世界。 8月31日，《每日经济新闻》记者从国内人形机器人上市公司优必选（09880.HK，股价95.700港元，市 值451.64亿港元）处获悉，该公司日前与国际投资机构Infini Capital正式签署10亿美元战略伙伴合作协 议，双方合作将围绕资金支持和产业协同两方面展开。 公开信息显示，Infini ...

Group 1 - The core viewpoint of the news is the strategic partnership agreement signed between UBTECH and Infini Capital, involving a total financing commitment of $1 billion to support UBTECH's industrial layout and technological development [1][2] - Infini Capital will provide a strategic financing credit line of $1 billion, which includes options for share placement, convertible bond subscription, and cash withdrawal rights, enhancing UBTECH's capacity for significant industrial investments [1] - The collaboration aims to leverage both parties' strengths to invest in the humanoid robot industry chain, assist UBTECH in building a robust ecosystem, and expand into the Middle Eastern market by establishing a joint venture and a super factory [1][2] Group 2 - Infini Capital has a diversified investment portfolio focusing on strategic emerging technologies, artificial intelligence, humanoid robots, and smart manufacturing, with significant investments in various high-tech companies [2] - The partnership signifies international confidence in China's humanoid robot industry, following previous investments from major sovereign wealth funds in UBTECH [2] - UBTECH has established collaborations with leading companies in various sectors, and its Walker S series industrial humanoid robots have been deployed in numerous factories globally, indicating its market leadership [2][3]

IT之家 8 月 31 日消息，优必选科技刚刚宣布与国际知名投资机构 Infini Capital 正式签署 10 亿美元（IT之家注：现汇率约合 71.29 亿元人民币）战略伙伴合 作协议。 根据合作协议，Infini Capital 旗下高新技术基金为优必选提供一笔总额为 10 亿美金的战略融资授信额度，融资方式包括参与配售、认购可转债、授予现金 提款权等。尤其是授予优必选在有需要时，给予优必选 10 亿美金现金提款权的快速融资通道，将大大提升优必选的重大产业布局能力。 此外，双方利用各自优势，还达成多项产业战略合作内容： 截至目前，优必选已与比亚迪、东风柳汽、吉利汽车、一汽-大众青岛分公司、奥迪一汽、北汽新能源、顺丰、富士康等行业头部企业实现合作，工业人形 机器人 Walker S 系列是全球进入最多工厂实训的人形机器人。7 月，公司中标觅亿（上海）汽车科技有限公司 9051.15 万元机器人设备采购项目，这是目前 全球人形机器人企业中标金额最大的采购订单。 Infini Capital 计划在合适时机增持优必选股票，目标成为优必选不超过 5% 持股比例的重要股东； 双方联手投资人形机器人上下游产业链， ...