Investment Rating - The report rates the robotics industry as "Overweight," indicating a positive outlook for the sector compared to the overall market performance [2][8]. Core Insights - The robotics industry is currently experiencing a phase of intensive capitalization, with leading companies preparing for IPOs and existing firms leveraging differentiated capital platforms for expansion. This trend is driven by the industry's transition from zero to one, requiring significant capital for operations, and the favorable regulatory environment creating an optimal window for capitalization over the next 1 to 2 years [2]. - The commercialization of robotics is accelerating, with increased capital expenditure expected to catalyze the development of funding, R&D, industrialization, and application scenarios. The report outlines three stages of commercialization: industrial use, commercial use, and ultimately household use [2]. - Key segments benefiting from the 2026 industrialization of robotics include: 1. The robotics body segment, where leading companies are expected to catalyze market growth through IPOs [2]. 2. The robotics components and modules segment, supported by manufacturing companies in regions like the Yangtze River Delta and Pearl River Delta [2]. 3. The soft technology segment, which may see mergers and acquisitions involving quality startups and unicorns [2]. 4. The application segment, where companies with strong customer loyalty and viable scenarios are likely to launch successful products in collaboration with established robotics firms [2]. Summary by Sections - **Capitalization Phase**: The robotics industry is in a critical phase of capitalization, with numerous companies preparing for public offerings and leveraging existing platforms for growth [2]. - **Commercialization Stages**: The report identifies three stages of robotics commercialization, emphasizing the need for capital and policy support to transition from industrial to household applications [2]. - **Beneficial Segments**: The report highlights four key segments poised for growth, including robotics body, components, soft technology, and applications, each with unique investment opportunities [2]. - **Investment Opportunities**: Recommended stocks include leading companies such as Hengli Hydraulic, Zhejiang Rongtai, and others, indicating a focus on both core and domestic chains within the robotics sector [2].

Group 1 - Southbound funds net bought Hong Kong stocks worth HKD 3.663 billion today [1] - The top net purchases included Tencent Holdings at HKD 663 million, Meituan-W at HKD 573 million, and Xiaomi Group-W at HKD 395 million [1] - Continuous net buying trends were observed for Tencent over 10 days totaling HKD 10.62116 billion and Alibaba over 7 days totaling HKD 4.75655 billion [1] Group 2 - Southbound funds net sold shares of SMIC at HKD 717 million and China Mobile at HKD 637 million [1] - China Mobile has seen continuous net selling for 12 days, amounting to HKD 9.29936 billion [1] - Hua Hong Semiconductor and Xiaomi also experienced net buying trends over multiple days, with Hua Hong totaling HKD 1.33901 billion over 4 days and Xiaomi HKD 1.42914 billion over 3 days [1]

誠 如 該 公 告 所 披 露，一 份 載 有（其 中 包 括）(i)收 購 事 項 的 進 一 步 詳 情；(ii) 目 標 集 團 的 財 務 資 料 及 其 他 資 料；(iii)本 集 團 的 未 經 審 計 備 考 財 務 資 料； (iv)上 市 規 則 規 定 的 其 他 資 料；及(v)臨 時 股 東 會 通 告 的 通 函（「該通函」）， 預 期 將 於 適 時 寄 發 予 股 東。 由 於 需 要 額 外 時 間 落 實 將 載 入 該 通 函 的 若 干 資 料，故 該 通 函 的 寄 發 日 期 將延遲至2026年2月6日 或 之 前。 （於中華人民共和國註冊成立之股份有限公司） （股份代號：9880） 延遲寄發通函 茲 提 述 深 圳 市 優 必 選 科 技 股 份 有 限 公 司（「本公司」）日 期 為2025年12月24 日 的 公 告（「該公告」），內 容 有 關 本 公 司 收 購 於 深 圳 證 券 交 易 所 上 市 的 目 標公司29.99%股權及提出自願部分要約收購目標公司13.02%股權的主要 交 易。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 ...

Core Viewpoint - The stock of Fenglong Co., Ltd. has experienced significant price increases following the announcement of a controlling stake acquisition by UBTECH Robotics, leading to a surge in both companies' stock prices and market interest in the robotics sector [1][2][9]. Group 1: Stock Performance and Market Reaction - Fenglong Co., Ltd. achieved its 14th consecutive daily limit up, reaching a price of 67.97 yuan per share, with a market capitalization of 14.9 billion yuan, marking a 245.38% increase since December 24, 2025 [1]. - UBTECH Robotics' stock has also risen over 30% since the acquisition announcement, with a notable increase of more than 8% on January 19, 2026 [1]. - Other robotics-related stocks have shown strong performance, with companies like Okoyi and Wuzhou Xinchun hitting their daily limit up [1]. Group 2: Acquisition Details - The acquisition involves a two-step process: an agreement to transfer shares and a subsequent tender offer, with a total transaction value not exceeding 16.65 billion yuan [6]. - UBTECH will acquire 29.99% of Fenglong's shares through a share transfer and will subsequently make a tender offer for an additional 13.02% of shares at the same price of 17.72 yuan per share [6]. - After the completion of the acquisition, UBTECH's total shareholding in Fenglong is expected to reach 43.01%, changing the controlling shareholder from Chengfeng Investment to UBTECH [6]. Group 3: Company Financials and Business Outlook - Fenglong's main business remains focused on the research, production, and sales of garden machinery components, automotive parts, and hydraulic components, with no significant changes reported [2][3]. - The company reported a net profit of -7.04 million yuan for 2023, with a projected profit of 45.93 million yuan for 2024 [2]. - As of January 13, 2026, Fenglong's stock had a static P/E ratio of 2939.63 and a P/B ratio of 14.21, significantly higher than the industry averages of 42.34 and 3.97, respectively [2]. Group 4: Strategic Implications of the Acquisition - UBTECH believes the acquisition will create synergies that enhance its humanoid robot development and commercialization efforts, leveraging Fenglong's manufacturing capabilities and supply chain [9]. - The acquisition positions UBTECH favorably within the smart service robot industry, as Fenglong will become its first publicly listed subsidiary in the A-share market [9]. - The collaboration is expected to expand UBTECH's market reach and improve its product competitiveness and cost structure [9].

Group 1 - The net inflow of southbound funds today amounted to 2.292 billion HKD [1] - The top three companies with net inflows were SMIC, Hua Hong Semiconductor, and Tencent Holdings, with net purchases of 462 million HKD, 393 million HKD, and 273 million HKD respectively [1] - On the other hand, China Mobile, UBTECH, and Meituan-W experienced net outflows of 600 million HKD, 517 million HKD, and 287 million HKD respectively [1]

Group 1 - Fenglong Co., Ltd. (002931.SZ) has experienced a significant stock price increase, reaching a limit up for the 14th time on January 19, with a share price of 67.97 yuan and a market capitalization of 14.9 billion yuan, marking a 245.38% increase since the announcement of a 1.6 billion yuan acquisition by UBTECH Robotics (09880.HK) on December 24, 2025 [1][2] - UBTECH Robotics has also seen its stock price rise over 30% since the acquisition announcement, with a notable increase of over 8% on January 19 [1] - The robotics sector has shown strong performance, with several companies like Oke Yi (688308.SH) and Wuzhou Xinchun (603667.SH) experiencing significant stock price increases on January 19 [1] Group 2 - On January 18, Fenglong Co., Ltd. announced that its stock price had significantly deviated from its fundamental value, indicating potential risks of irrational market speculation, with a price increase of 213.97% over 12 consecutive trading days [2] - The company reported a net profit of -7.04 million yuan for 2023 and a projected net profit of 45.93 million yuan for 2024, with a static P/E ratio of 2939.63, significantly higher than the industry average of 42.34 [2] - The acquisition by UBTECH involves a two-step process: a share transfer of 29.99% of Fenglong's shares for 1.16 billion yuan, followed by a tender offer for an additional 13.02% of shares at the same price of 17.72 yuan per share [6][7] Group 3 - UBTECH has stated that there are no plans for asset restructuring or reverse mergers involving Fenglong in the next 36 months, emphasizing the independence of both companies in their operations and core technology development [3] - The acquisition is expected to create synergies that will enhance UBTECH's competitive edge in humanoid robotics by integrating advanced technology with Fenglong's manufacturing capabilities and supply chain [8] - UBTECH has also signed a service agreement with Airbus for humanoid robots, expanding its application in global industrial scenarios, indicating a broader market strategy [10]

Core Viewpoint - Company shares of UBTECH (09880) rose by 5.56% to HKD 140.6, with a trading volume of HKD 201 million following the announcement of a service agreement with Airbus for humanoid robots [1][2] Group 1: Partnership and Product Development - UBTECH has signed a service agreement with Airbus, which includes the purchase of the latest industrial humanoid robot, Walker S2, for use in Airbus manufacturing facilities [1][2] - The collaboration with Airbus signifies UBTECH's expansion of humanoid robot applications from Chinese industrial scenarios to global sectors including aerospace manufacturing, automotive manufacturing, 3C electronics manufacturing, smart logistics, and semiconductor manufacturing [1][2] Group 2: Market Implications - The partnership with Airbus follows a previous strategic collaboration with Texas Instruments, indicating UBTECH's strategy to enhance the industrial application of humanoid robots on a global scale [1][2] - The development of humanoid robots is seen as a new productive force, further extending the industrial application value of these technologies [1][2]

Core Viewpoint - The humanoid robot company, UBTECH (9880.HK), has seen a strong performance in its stock, reaching a new high since October last year, following a service agreement with Airbus for the application of humanoid robots in the aerospace manufacturing sector [1] Group 1: Company Developments - UBTECH's stock price increased by 8% during trading, reaching 143.9 HKD, marking a new high since late October of the previous year [1] - The recent partnership with Airbus involves the procurement of UBTECH's latest industrial humanoid robot, Walker S2, for use in Airbus's manufacturing facilities [1] Group 2: Industry Applications - This collaboration with Airbus signifies UBTECH's expansion of humanoid robot applications from the Chinese industrial scene to global sectors, including aerospace manufacturing, automotive manufacturing, 3C electronics manufacturing, smart logistics, and semiconductor manufacturing [1] - The application value of humanoid robots as a new productive force in various industries is further extended through this partnership [1]

Core Viewpoint - UBTECH (9880.HK), known as the "first humanoid robot stock," experienced a strong performance on January 19, with its stock price rising by 8% to reach 143.9 HKD, marking a new high since late October last year [1] Group 1: Partnership and Expansion - Airbus, a European aerospace giant, has signed a humanoid robot service agreement with UBTECH, purchasing the latest industrial version of the humanoid robot, Walker S2, for its manufacturing facilities [1] - This partnership signifies UBTECH's expansion of humanoid robot applications from industrial scenarios in China to global sectors including aerospace manufacturing, automotive manufacturing, 3C electronics manufacturing, smart logistics, and semiconductor manufacturing [1] - The collaboration with Airbus follows UBTECH's strategic partnership with Texas Instruments, indicating a broader strategy to enhance the application value of humanoid robots as a new productive force in various industries [1]

Group 1 - The stock of UBTECH (09880.HK) has increased by over 5%, currently up 5.41% at HKD 140.4 [1] - The trading volume reached HKD 369 million [1]