Core Viewpoint - Jianyin International has raised the target price for UBTECH (09880.HK) to HKD 115, maintaining an "outperform" rating due to the recent upgrades in its flagship product WalkerS2, which includes an AI model Co-Agent and enhanced capabilities [1] Group 1: Product Details - The WalkerS2 is equipped with an AI model Co-Agent, can walk at a speed of 2 meters per second, and has a load capacity of 15 kilograms, meeting demands across various industrial sectors [1] - The company is accelerating production, expecting to reach a monthly capacity of approximately 200 units starting in August [1] Group 2: Financial Projections - Delivery volume is projected to exceed 1,000 units in 2025 and 3,000 units in 2026, which is one year ahead of previous estimates [1] - With an average selling price of RMB 600,000 to 700,000, the WalkerS2 is expected to generate revenue between RMB 500 million and 1.5 billion from 2025 to 2026 [1] Group 3: Capital Raising - The company recently completed its fifth share placement since listing, issuing 30 million new shares at a discount of 9.1% at HKD 82 per share, raising a net amount of HKD 2.4 billion, exceeding expectations [1] - The increase in share count and the upward revision of revenue forecasts have led to the adjustment of the target price from HKD 100 to HKD 115 [1]
建银国际：升优必选目标价至115港元 维持“跑赢大市”