Tesla(US:TSLA) Robot猎场备忘录·2025-09-05 00:02Core Viewpoint - After securing a $1 billion strategic financing, UBTECH Robotics has received a new order worth 250 million yuan for humanoid robots, indicating positive momentum for the company [2][3]. Group 1: Recent Developments - UBTECH announced a procurement contract for humanoid robot products and solutions worth 250 million yuan, primarily for the Walker S2 industrial humanoid robot, with delivery set to begin this year [2]. - This order follows a previous contract with Meiyi (Shanghai) Automotive Technology Co., amounting to 90.51 million yuan, marking UBTECH's second significant order and setting a record for the largest order in the global humanoid robot sector [3]. - The Walker series has secured nearly 400 million yuan in contracts to date, including approximately 50 million yuan delivered in the first half of the year [6]. Group 2: Financial Insights - UBTECH's stock price has seen a decline from a peak of 328 HKD to 103.4 HKD as of September 3, with a current market capitalization of approximately 48.8 billion HKD [9]. - The company has completed five rounds of financing since its IPO, raising a total of about 4.538 billion HKD (approximately 4.146 billion yuan) [9]. Group 3: Market Position and Competition - UBTECH has established partnerships with several major automotive and logistics companies, including Dongfeng Liuzhou Motor, Geely, and SF Express, but its humanoid robot products are still in the proof-of-concept stage [10]. - The company faces competition from other humanoid robot startups, such as Yuzhu Technology and Zhiyuan Robotics, which have reported significant revenue and delivery growth [13]. Group 4: Technological Capabilities - As one of the earliest entrants in the humanoid robot market, UBTECH possesses comprehensive technical capabilities, including self-developed technologies like BrainNet 2.0 and Co-Agent for autonomous and collaborative operations [14]. - However, the company has yet to establish a supply chain price advantage, with the Walker S series priced above 900,000 yuan per unit, making it the most expensive humanoid robot in China [13]. Group 5: Future Outlook - UBTECH aims to deliver 500 industrial humanoid robots by the end of 2025, with revised shipment forecasts indicating potential deliveries of 2,000 to 3,000 units next year [7]. - The recent strategic partnership with Infini Capital for $1 billion in funding is expected to enhance UBTECH's market presence and support its expansion into the Middle East [9].