Xin Lang Cai Jing·2025-12-28 11:59Core Viewpoint - Fenglong Co., Ltd. disclosed an announcement regarding abnormal stock trading fluctuations, emphasizing that Ubtech will not engage in a backdoor listing within the next three years [1][8]. Group 1: Stock Performance and Valuation - Fenglong Co., Ltd. experienced a cumulative stock price increase of 33.15% over three consecutive trading days, closing at 23.82 yuan per share on December 26, 2025, with a static P/E ratio of 1133.22 and a P/B ratio of 5.48 [1][8]. - The static P/E ratio for the specialized equipment manufacturing industry, as classified by the China Securities Association, is 39.53, with a P/B ratio of 3.68 [1][8]. Group 2: Acquisition Details - Ubtech announced plans to invest 1.665 billion yuan to acquire 9.395 million shares of Fenglong Co., representing 43% of the total share capital, thereby gaining control of the company [4][11]. - Following the completion of this transaction, the controlling shareholder of Fenglong Co. will change from Chengfeng Investment to Ubtech, with the actual controller changing to Ubtech's founder and chairman, Zhou Jian [4][11]. Group 3: Business Strategy and Future Plans - The acquisition is viewed as a strategic move by Ubtech to enhance its industry chain layout and strengthen its core competitiveness, positioning Fenglong as Ubtech's first subsidiary listed on the A-share market [4][11]. - Ubtech aims to leverage its technological advantages in humanoid robots and commercial experience, combined with Fenglong's manufacturing and supply chain capabilities, to deepen industry collaboration and promote the industrialization of humanoid robot technology [4][11]. Group 4: Recent Contracts and Orders - On December 28, Ubtech announced winning bids for two projects: the humanoid robot data collection center in Huizhou, valued at 59.62 million yuan, and the equipment procurement project for the embodied intelligence technology center in Hohhot, totaling over 130 million yuan [5][11]. - As of now, Ubtech's total order amount for humanoid robots in 2025 has approached 1.4 billion yuan, with the 1,000th unit of the Walker S2 model produced in December 2025, achieving an annual production capacity of 1,000 units [6][13].