Core Viewpoint - Huawei and UBTECH Robotics signed a comprehensive cooperation agreement to innovate in the fields of embodied intelligence and humanoid robots, focusing on product technology development, application scenarios, and industrial systems [1] Group 1: Partnership Details - The agreement aims to leverage Huawei's Ascend, Kunpeng, Huawei Cloud, and large model capabilities alongside its experience in R&D and production supply [1] - UBTECH's full-stack humanoid robot technology will be combined with Huawei's AI infrastructure to enhance efficiency and facilitate the transition of humanoid robots from laboratory innovation to industrial and home applications [1] Group 2: Innovation and Development - Huawei will support UBTECH in establishing an embodied intelligence innovation center and will collaborate on creating a "humanoid robot + smart factory" joint demonstration plan [1] - The partnership will focus on developing household service humanoid robots, including both bipedal and wheeled humanoid robots [1]

Market Overview - The Hong Kong stock market showed positive movement with the Hang Seng Index rising by 0.51%, setting expectations for May's market performance [1] - In the U.S., the trade deficit reached a record $162 billion in March, significantly exceeding economists' forecasts of $145 billion, driven by a 5% increase in imports [1] - Retailers in the U.S. are expected to face inventory shortages in the coming weeks, which may impact consumer shopping choices [1] Trade Relations - The U.S. government has reportedly made progress in trade negotiations, with a potential agreement expected to be finalized soon [1] - The Chinese government has denied any ongoing negotiations regarding tariffs, maintaining a firm stance [2] Automotive Industry - President Trump signed an executive order on April 30 to soften certain auto tariffs, which has led to a resurgence of price competition in the automotive market [3] - Multiple car manufacturers have introduced various discount policies to capture market demand ahead of the May holiday [3] Banking Sector - The banking sector experienced a collective adjustment, with only Agricultural Bank and Bank of Communications reporting year-on-year profit growth in Q1 [4] - Major banks reported slight declines in net profits, attributed to factors such as bond market conditions and narrowing net interest margins [4] Technology Sector - The technology sector, particularly in AI, is gaining momentum, with significant stock price increases for companies involved in AI and related technologies [5] - Companies like Kingsoft Cloud and Meitu have seen substantial stock price increases, reflecting investor interest in AI advancements [5] Environmental Initiatives - The Ministry of Water Resources in China is launching a year-long initiative to enhance ecological protection in the Yellow River basin, which is expected to stimulate the environmental protection industry [7] - Key companies in the environmental sector include China Everbright Environment and Beijing Enterprises Water Group [7] Robotics and Automation - UBTECH Robotics has signed a global first contract for small-batch humanoid robots, marking a significant milestone in the robotics industry [8] - The demand for humanoid robots in the automotive sector is projected to grow significantly by 2025 and 2030, positioning UBTECH as a key player in this market [9]

UBTECH ROBOTICS CORP LTD 深 圳 市 優 必 選 科 技 股 份 有 限 公 司 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通告的內 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 不對因本通告全部或任何部分內容而產生或因依賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （於中華人民共和國註冊成立之股份有限公司） （股份代號：9880） 2024年股東週年大會通告 茲通告 深 圳 市 優 必 選 科 技 股 份 有 限 公 司（「本公司」）將 於2025年5月21日（星 期 三）下 午 四 時 正 於 中 國 深 圳 市 南 山 區 學 苑 大 道1001號南山智園C1棟25 樓JIMU會議室召開及舉行2024年 股 東 週 年 大 會（「股東週年大會」），藉 以 審 議 及 酌 情 批 准 以 下 決 議 案： 普通決議案 附 註： 1. 擬 親 身 出 席 股 東 週 年 大 會 的 個 人 股 東，應 出 示 本 人 的 身 份 證 或 其 他 能 夠 表 明 其 身 份 的 有 效 證 件 ...

此乃要件 請即處理 閣下如對本通函任何方面或 閣下應採取之行動有任何疑問，應諮詢 閣下之股票經紀或其他證券交易 商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有深圳市優必選科技股份有限公司之股份，應立即將本通函及隨附代表委 任表格送交買主或承讓人，或經手買賣或轉讓之銀行、股票經紀或其他代理商，以便轉交買主或承讓 人。 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通函的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不就因本通函之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。 UBTECH ROBOTICS CORP LTD 深 圳 市 優 必 選 科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立之股份有限公司） （股份代號：9880） 及 股東週年大會通告 本公司謹訂於2025年5月21日（星期三）下午四時正於中國深圳市南山區學苑大道1001號南山智園C1棟25 樓JIMU會議室舉行股東週年大會，大會通告載於本通函第12至14頁。隨函附奉股東週年大會適用之代 表委任表格。該代表委任表格亦於聯交所網站(www.hkexnew ...

Robotics and Technology Development - In 2024, the company launched the WalkerS and WalkerS1 industrial humanoid robots, focusing on industrial application scenarios [17]. - The company achieved significant technological breakthroughs in robot technology, including the release of the second-generation industrial humanoid robot Walker S1 and the third-generation dexterous hand with pressure detection capabilities [18]. - The company developed the BrainNet architecture for collaborative humanoid robot scenarios, enhancing multi-robot cooperation and intelligent decision-making capabilities [19]. - The humanoid robots successfully completed high-repetition tasks such as autonomous material handling, quality inspection, and parts installation in collaboration with well-known automotive factories [18]. - The company established a humanoid robot application ecosystem in partnership with 3C enterprises, showcasing its industrial application solutions at the 2024 World Robot Conference [18]. - The company is leading the formulation of national standards in the humanoid robot and embodied intelligence fields, serving as the deputy leader of the National Humanoid Robot Standard Working Group [17]. - The company’s full-stack technology supports superior task planning, dexterous manipulation, navigation, and human-robot interaction skills [17]. - The company’s humanoid robots are designed to meet real demands in industrial application scenarios, demonstrating deep application in typical industrial environments [17]. - The company’s advancements in artificial intelligence technology include the development of a multi-modal large model for semantic understanding and decision-making [19]. - The company’s focus on R&D in humanoid robots is aimed at commercializing these technologies, providing a solid technical foundation for future growth [18]. - The company has developed a dual-engine technology architecture, achieving breakthroughs in multi-modal navigation, intelligent control, and modular design [27]. - The L4 autonomous logistics vehicle achieved a takeover rate of only 1 time per 100 kilometers in high-dynamic scenarios [20]. - The company is focusing on the development of the Walker series industrial humanoid robots, enhancing their stability and reliability for industrial applications [39]. - The development of a multimodal reasoning large model for humanoid robots is underway, aimed at improving decision-making capabilities in complex industrial tasks [40]. Financial Performance - Revenue increased by 23.7% from RMB 1,055.7 million in 2023 to RMB 1,305.4 million in 2024 [49]. - Gross profit rose by 12.4% from RMB 332.8 million in 2023 to RMB 374.0 million in 2024, with gross margins of 28.7% in 2024 and 31.5% in 2023 [53]. - Loss for 2024 was RMB 1,159.9 million, an improvement from a loss of RMB 1,264.6 million in 2023 [47]. - Revenue from educational intelligent robots and solutions increased by 4.6% from RMB 347.3 million in 2023 to RMB 363.4 million in 2024 [31]. - Revenue from logistics intelligent robots and solutions decreased by 17.5% to RMB 321.7 million in 2024 [51]. - Revenue from customized intelligent robots for other industries surged by 126.1% to RMB 140.7 million in 2024 [51]. - Revenue from consumer robots and other hardware increased by 88.1% to RMB 477.0 million in 2024 [51]. - Sales expenses rose to RMB 523.9 million in 2024, accounting for 40.1% of total revenue, down from 47.9% in 2023 [55]. - Management expenses decreased to RMB 370.0 million in 2024, representing 28.3% of total revenue, down from 37.9% in 2023 [56]. - Other income increased by 38.2% to RMB 37.6 million in 2024, primarily due to government subsidies and VAT refunds [54]. - R&D expenses decreased from RMB 490.5 million in 2023 to RMB 478.1 million in 2024, representing a reduction from 46.5% to 36.6% of revenue, primarily due to a decrease in share-based payment expenses by RMB 48.9 million [57]. - Credit impairment losses increased from RMB 145.0 million in 2023 to RMB 156.0 million in 2024, mainly due to delayed payments from certain government-related customers [58]. - Financial income improved from RMB 9.0 million in 2023 to RMB 6.0 million in 2024, attributed to increased foreign exchange gains [59]. - Income tax expenses decreased significantly from RMB 37.4 million in 2023 to RMB 10.7 million in 2024, primarily due to a reduction in taxable income from subsidiaries [60]. - Net losses for the years 2023 and 2024 were RMB 1,264.6 million and RMB 1,159.9 million, respectively [61]. - Adjusted net loss (non-GAAP measure) for 2024 was RMB 914.6 million, compared to RMB 817.0 million in 2023 [65]. - Cash used in operations for 2024 was approximately RMB 883.6 million, down from RMB 1,000.0 million in 2023, while cash and cash equivalents increased to RMB 1,191.0 million in 2024 from RMB 520.9 million in 2023 [66]. - Interest-bearing bank and other borrowings rose from RMB 1,453.5 million as of December 31, 2023, to RMB 1,537.6 million as of December 31, 2024, primarily to cover operational costs and construction expenses [67]. - Total employee compensation costs for 2024 amounted to RMB 940.7 million, down from RMB 1,006.8 million in 2023, mainly due to a reduction in equity incentive expenses [71]. - Capital expenditure for 2024 is primarily related to the construction of the Shenzhen headquarters, amounting to RMB 400.4 million, a decrease of 25.9% from RMB 540.7 million in 2023 [74]. Market Expansion and Product Development - The company has expanded its overseas business to over 20 countries, generating more than 700 business opportunities through digital marketing [28]. - The company has launched the CreaBot multi-scenario service robot, featuring seven functional components, enhancing its product ecosystem [27]. - The humanoid robot Walker S Lite was successfully demonstrated in the automotive manufacturing sector, recognized as a typical application case by the Ministry of Industry and Information Technology [25]. - In 2024, the logistics intelligent robots and solutions achieved breakthroughs in technology and application, with the new Wali series unmanned forklift F3000 supporting a maximum load of 3.5 tons, and the T8000 robot capable of handling 8000 kg, filling a gap in heavy material handling [33]. - The Chitu unmanned logistics vehicle improved storage space utilization by 13% in leading new energy vehicle factories and won the "Application Breakthrough Award" [33]. - The company launched a series of new consumer products, including the C20 smart cat litter box and the PC10 pool robot, which became top sellers in their categories [36]. - The company is collaborating with strategic partners to create an integrated delivery model combining hardware, software, services, and operations [33]. - The company aims to drive the commercialization of humanoid robots and artificial intelligence as part of its core strategy, aligning with national strategic goals [39]. Corporate Governance and Management - The company has established a robust governance structure with independent non-executive directors providing oversight and independent opinions [98]. - The company is committed to enhancing its human resources capabilities, as evidenced by the appointment of experienced professionals from leading firms like Huawei [87]. - The company has a strategic focus on innovation and investment in high-tech sectors, as highlighted by board members' involvement in venture capital and technology investments [92]. - The company has a diverse board with members who have significant academic and industry experience, contributing to informed decision-making [91]. - The company is positioned to leverage its leadership's extensive networks in the technology and education sectors for future growth opportunities [93]. - The company has a clear strategy for nurturing small and medium enterprises, as demonstrated by the experience of its directors in government and financial support roles [94]. - The board of directors held a total of 14 meetings during the relevant period, with all members attending every meeting [123]. - The company conducted nine shareholder meetings during the relevant period, with full attendance from all directors [125]. - The board is composed of executive directors, non-executive directors, and independent non-executive directors, ensuring a balanced and independent decision-making process [120]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules, maintaining high standards of corporate governance [116]. - The board believes that high standards of corporate governance are essential for protecting shareholder interests and enhancing corporate value [116]. - All directors confirmed compliance with the standard code of conduct regarding securities trading during the relevant period [117]. - The company has established a robust internal control and risk management system to ensure effective governance [126]. - The board is collectively responsible for guiding and supervising the company's affairs, ensuring long-term sustainable growth [126]. - The company has arranged appropriate liability insurance for directors and senior management, which is reviewed annually [130]. - The company is committed to developing a positive corporate governance culture to achieve sustainable growth and success [115]. - The board of directors consists of four executive directors, three non-executive directors, and four independent non-executive directors, ensuring a high level of independence [132]. - The company has established an independent board evaluation mechanism to enhance board efficiency and identify areas for improvement [133]. - All independent non-executive directors have confirmed their independence in accordance with the listing rules [132]. - The current term for all directors and supervisors will expire on June 28, 2025, with the possibility of re-election [138]. - Independent directors who joined on March 23, 2019, will not be re-elected after the current term ends due to the six-year limit on their tenure [138]. - The company encourages all directors to attend relevant training courses, with costs covered by the company [140]. - A summary of training records for directors indicates participation in various training types, including seminars and reading materials [141]. - The audit committee is currently composed of three independent non-executive directors, with one holding the necessary professional qualifications [142]. - The board has established five committees to oversee specific areas, ensuring clear definitions of their powers and responsibilities [141]. - The company will continue to review its governance structure and consider appropriate measures as needed [135]. - The audit committee reviewed the annual performance for the year ending December 31, 2023, and the interim performance for the six months ending June 30, 2024 [145]. - The audit committee held four meetings during the period, with all members attending all meetings [147]. - The remuneration and assessment committee reviewed the remuneration schemes for directors and senior management, with a total of 15 individuals in the remuneration range of RMB 0-10,000 thousand [152]. - The remuneration policy aims to ensure compensation is based on skills, knowledge, responsibilities, and participation in company affairs [152]. - The environmental, social, and governance committee held one meeting during the period, with all members present [149]. - The audit committee assessed the reasonableness of related party transactions conducted during the period [145]. - The company has adopted a written terms of reference for the audit committee in compliance with applicable laws and regulations [145]. - The remuneration and assessment committee recommended remuneration policies based on comparative company compensation and the group's performance [152]. - The environmental, social, and governance committee reviewed the company's ESG report for the year ending December 31, 2023 [149]. - The audit committee discussed audit issues with external auditors in two meetings during the period [146]. - The nomination committee consists of one executive director and two independent non-executive directors, with a focus on board diversity and skills assessment [154]. - The strategic committee did not hold any meetings during the period, indicating a stable strategic planning for 2024 without major adjustments [158]. - The board diversity policy aims to enhance efficiency and maintain high standards of corporate governance, considering factors such as gender, age, and industry experience [161]. - The current board composition includes 10 male directors and 1 female director, achieving the target of at least one female board member [162]. - The company has a total of 2 directors with accounting and finance experience, and 1 director with legal expertise [164]. - Gender diversity statistics show that 32.7% of the total employees are female, while the board has achieved a 9.1% female representation [170]. - The nomination committee will conduct an annual review of the board diversity policy to ensure its effectiveness [168]. - The company is committed to promoting gender diversity at all levels, including the board and senior management [169]. - The board has established measurable goals to implement the diversity policy, including ensuring at least one member has professional qualifications [165]. - The supervisory board consists of three members, including one employee representative and two shareholder representatives, ensuring compliance with legal requirements [159]. Risk Management and Compliance - The board has established a comprehensive risk management and internal control system, ensuring sufficient resources and qualified personnel for effective operation [182]. - The company conducts annual reviews of its risk management and internal control systems, focusing on financial, operational, and compliance monitoring [183]. - Compliance risk management is a core aspect of the company's risk management activities, with a three-tier compliance management structure in place [186]. - The company has implemented standard protective measures for data security, including confidentiality classification and data encryption [187]. - A centralized approach to intellectual property management is adopted, requiring approval from the intellectual property department for any applications or transfers [188]. - The board is responsible for the effectiveness of the risk management and internal control systems, with ongoing monitoring and independent audits conducted [179]. - The nomination committee actively communicates with relevant departments to assess the need for new directors and managers [176]. - The company emphasizes the importance of compliance culture and has established policies to address compliance matters [183]. - The board has not undergone any changes in composition during the reporting period [173]. - The nomination committee will review the director nomination policy to ensure its effectiveness [174]. - The company has established a zero-tolerance policy towards corruption, with immediate termination of contracts for employees or partners found engaging in corrupt activities [189]. - The risk management and internal control systems have been evaluated as effective and sufficient, with no significant monitoring failures or deficiencies identified [194]. - The company has implemented a whistleblowing policy allowing employees and business associates to report misconduct anonymously [195]. - No incidents of bribery-related non-compliance have occurred during the fiscal year ending December 31, 2024 [197]. - The company has a comprehensive insider information disclosure policy to guide directors and senior management in handling confidential data [198]. - The audit department is responsible for internal corruption prevention and investigation, ensuring open reporting channels for suspected corruption [196]. - The company conducts regular internal training on anti-corruption measures and requires suppliers to sign anti-bribery commitments [189]. - The board has reviewed the risk management and internal control work, confirming that the systems are effective in achieving operational goals and compliance [194]. - The company is committed to continuous improvement of its risk management policies and procedures to enhance operational efficiency and financial reporting reliability [190]. - Financial statements for the fiscal year ending December 31, 2024, are prepared in accordance with Chinese Accounting Standards [200].

Core Viewpoint - Company has signed a large-scale procurement contract for humanoid robots, marking a significant step in the commercialization of humanoid robots in industrial manufacturing settings [1][5] Group 1: Company Developments - Company has secured an order for 20 units of humanoid robots Walker S1 and Walker C, intended for use in automotive manufacturing and commercial reception [1][4] - The company has achieved notable milestones in April 2025, including becoming the exclusive humanoid robot partner for the China Pavilion at the Osaka World Expo and establishing strategic partnerships with major manufacturers like Foxconn and Geely [3] - The company has submitted an application to the China Securities Regulatory Commission for H-share full circulation, allowing domestic shares to be traded, which could enhance market participation [4] Group 2: Financial Performance - In 2024, the company reported a revenue of 1.3 billion yuan, a 23.7% increase year-on-year, but also a net loss of 915 million yuan, which is an 11.9% increase in losses compared to the previous year [1][7] - The company's gross margin decreased from 31.5% to 28.7% in 2024, indicating challenges in profitability despite revenue growth [7] - The revenue from educational and logistics intelligent robots showed mixed results, with a 4.6% increase in educational robots but a 17.5% decrease in logistics robots [6][7] Group 3: Industry Context - The humanoid robot sector is still in its conceptual phase, with industrial robots currently favored for their robustness and cost-effectiveness [6] - The industry faces skepticism regarding the practical applications of humanoid robots, as many purchases are seen as image projects rather than practical solutions [6] - The success of humanoid robots in industrial settings will depend on their ability to demonstrate superior investment returns compared to traditional industrial robots [6][7]

Group 1 - Company UBTECH has made significant progress in the commercialization of humanoid robots by signing a procurement contract for industrial humanoid robots Walker S1 and Walker C with several well-known automotive manufacturers [1] - The contract marks the first small-batch procurement of humanoid robots globally, indicating a solid step towards the application of humanoid robots in industrial manufacturing scenarios [1] - UBTECH aims to produce approximately 1,000 humanoid robots this year to gather more data in real customer environments [1] Group 2 - Midea announced that its self-developed humanoid robots will enter a washing machine factory in Jingzhou, Hubei, in May for machine operation, equipment inspection, and logistics [2] - By the second half of this year, Midea's humanoid robots will also be deployed in offline stores for commercial guidance and coffee-making [2] - According to TrendForce, 11 major humanoid robot manufacturers in China plan to start mass production in 2024, with expectations that the market value of humanoid robots will exceed 4.5 billion RMB by 2025 [2] Group 3 - According to a report from招商证券, 2025 is expected to be the year of mass production for humanoid robots, indicating a positive outlook for the humanoid robot industry [3] Group 4 - Related Hong Kong stocks in the humanoid robot industry include UBTECH, Midea Group, and 越疆, along with component suppliers such as 金力永磁, 德昌电机控股, and others [4]

Core Viewpoint - The company, UBTECH Robotics, has secured its first procurement contract for humanoid robots in industrial manufacturing, marking a significant step in the commercialization of humanoid robots in automotive factories [1][3]. Group 1: Procurement Contract Details - UBTECH announced on April 27 that it signed a procurement contract for humanoid robots, specifically the Walker S1 and Walker C models, with a known automotive manufacturer, Dongfeng Liuzhou Motor [1][3]. - The contract involves a "small batch" of humanoid robots, with a total of 20 units to be deployed by Dongfeng Liuzhou Motor by mid-2025, representing the first mass entry of humanoid robots into automotive factories globally [3]. Group 2: Business Strategy and Goals - The procurement contract signifies a solid step towards the commercial application of humanoid robots in industrial settings, with the company planning to continue its focus on research and commercialization of humanoid robots [3]. - The CEO of UBTECH stated that the company aims to produce approximately 1,000 humanoid robots this year to gather more data in real customer environments [3]. Group 3: Financial Performance - In its annual report, UBTECH reported a total revenue of 1.305 billion yuan for 2024, reflecting a year-on-year increase of 23.7%, while the loss narrowed to 1.16 billion yuan from 1.265 billion yuan in 2023, a reduction of 8.3% [4][5]. - The gross profit increased from 3.328 billion yuan in 2023 to 3.74 billion yuan in 2024, representing a year-on-year growth of 12.4%, although the gross margin decreased from 31.5% to 28.7% [5].

UBTECH ROBOTICS CORP LTD 深 圳 市 優 必 選 科 技 股 份 有 限 公 司 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 不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （於中華人民共和國註冊成立之股份有限公司） （股份代號：9880） 自願性公告 本公司首獲小批量工業製造場景 具身智能人形機器人採購合同 本 公告乃由深圳市優必選科技股份有限公司（「本公司」）自 願 作 出，旨 在 向 股 東 及 潛 在 投 資 者 提 供 本 公 司 業 務 發 展 的 最 新 資 料。 本 公 司 董 事 會（「董事會」）欣 然 宣 佈，本 公 司 前 期 進 入 多 家 知 名 汽 車 工 廠 開 展 具 身 智 能 人 形 機 器 人 實 訓 取 得 了 實 質 性 進 展，本 公 司 於2025年4月24 日 與 採 購 方 簽 訂 了 大 型 雙 足 仿 人 機 器 人 採 購 合 同，採 購 產 品 ...

Industry Overview - The Shenzhen robot industry is rapidly forming a cluster effect, with a significant number of enterprises showcasing their innovations at the first Robot Industry Chain Conference (FAIR plus 2025) [1] - The total output value of Shenzhen's robot industry chain is projected to exceed 201.2 billion yuan in 2024, marking a year-on-year growth of 39.64% with 14,534 new robot companies established [5] Key Companies and Products - Notable participants at the conference included leading firms such as UBTECH, Yujin Robot, and others, showcasing advanced products like humanoid robots and collaborative robots [2] - Tencent's "Xiao Wu" robot features a hybrid design with wheels and legs, designed for complex environments, particularly in elder care scenarios [3] - UBTECH's "Tian Gong Xing Zhe" humanoid robot is the first research-grade full-size humanoid robot priced below 300,000 yuan, capable of navigating various terrains [3] Technological Innovations - The conference highlighted advancements in sensory technology, such as the high-resolution "visual tactile sensor" developed by Daimeng Robotics, which can accurately capture three-dimensional force distributions [5] - Shenzhen's companies are also innovating in robotic arms and mobility systems, with products designed for diverse applications, including security inspections and industrial automation [6][7] Ecosystem and Supply Chain - Shenzhen has established a complete ecosystem for robot manufacturing, encompassing core components like tactile sensors, laser radars, and servo electronics, facilitating efficient supply chain interactions [7] - The industry is characterized by a strong integration of hardware and software capabilities, with local firms excelling in both manufacturing and technological services [7]