锋龙股份：未来36个月内优必选不存在通过上市公司重组上市计划

Group 1 - The core point of the news is that UBTECH Robotics plans to acquire approximately 43% of the shares of Fenglong Co., Ltd. for a total consideration of about 1.665 billion yuan, which will make UBTECH the controlling shareholder of Fenglong [1] - Following the announcement, Fenglong's stock price experienced a continuous increase, hitting the daily limit on December 25 and 26, with a cumulative increase exceeding 20% [1] - As of December 26, Fenglong's closing price was 23.82 yuan per share, with a static price-to-earnings ratio of 1133.22 and a price-to-book ratio of 5.48, compared to the industry averages of 39.53 and 3.68 respectively [1] Group 2 - UBTECH, a leading company in the humanoid robotics sector, went public on the Hong Kong Stock Exchange on December 29, 2023, and has secured nearly 1.4 billion yuan in orders for humanoid robots this year [2] - After the acquisition, Fenglong will maintain its original business focus, and UBTECH aims to enhance the management and resource allocation of the listed company, although there are uncertainties regarding business transformation and future collaborations [2] - UBTECH has no plans to change the main business of Fenglong or to undertake significant asset restructuring within the next 12 months, nor does it plan to pursue a backdoor listing through Fenglong within the next 36 months [2] Group 3 - The year 2025 is anticipated to be the "commercialization year" for humanoid robots, with companies striving to secure industry orders and achieve practical applications and mass production [3] - UBTECH's financial report indicates projected revenues of 1.305 billion yuan and 621 million yuan for 2024 and the first half of 2025, respectively, with net losses of 1.124 billion yuan and 414 million yuan [3] - Research and development expenses for UBTECH are expected to be 478 million yuan and 218 million yuan for 2024 and the first half of 2025, accounting for 36.6% and 35.1% of revenue, respectively [3]