Fenglong(SZ:002931) Sou Hu Cai Jing·2025-12-27 04:56Core Viewpoint - UBTECH Robotics is making significant strides in the humanoid robot industry, highlighted by its recent acquisition of Fenglong Co., which has sparked market interest and led to a surge in Fenglong's stock price [1][2]. Company Summary - UBTECH Robotics plans to acquire 43% of Fenglong Co. for a total of 1.665 billion yuan, utilizing a combination of "agreement transfer + tender offer" [2]. - Fenglong Co. specializes in manufacturing garden machinery, engines, hydraulic control systems, and automotive parts, reporting a revenue of 373 million yuan in the first three quarters of 2025, a year-on-year increase of 9.47%, and a net profit of 21.52 million yuan, up 1715% [2]. - The acquisition is a strategic move for UBTECH to enhance its industrial chain layout and strengthen its core competitiveness in the humanoid robot sector [3]. Industry Summary - UBTECH has secured nearly 1.4 billion yuan in humanoid robot orders this year, with the Walker S2 industrial humanoid robot entering mass production and being deployed in various industries such as automotive manufacturing and smart logistics [3][4]. - The company is positioned as a leader in the manufacturing sector for humanoid robots, having partnered with major firms like BYD, Dongfeng Liuzhou, and Audi, making it the most widely adopted humanoid robot in global factories [4]. - The Chinese market for embodied intelligent robots is expected to experience explosive growth, with user spending projected to exceed 1.4 billion USD by 2025 and reach 77 billion USD by 2030, reflecting a compound annual growth rate of 94% [4]. - UBTECH's strategy focuses on commercializing humanoid robots in industrial applications, aiming to expand their use into more repetitive labor scenarios and eventually into commercial and household settings [5].