What did We Learn from Our China Industrial Plant Tour? CITI'S TAKE On our industrial tour 24-26 Jun we met not only with UBTECH (9880.HK), but also with humanoid robot supply chain companies Orbbec (688322.SS), Wolong (600580.SS), and Bozhon (688097.SS), which cooperate with leading Chinese humanoid robot maker Zhiyuan Robot, or AgiBot (智元机器人). We also met with Rongtai (603119.SS), Shuanghuan (002472.SZ), and Hengli (601100.SS), which cooperate with the leading US NEV/humanoid robot maker. We summarize our ...

1Q25 takeaways: Fast product iterations with active R&D across the supply chain China Humanoid Robots 6 May 2025 | 7:05AM CST We follow closely comments from robot makers and supply chain names on their latest humanoid technology and products progress. From FY24/1Q25 earnings disclosures, an increasing amount of humanoid makers (EV/home appliance/industrial automation players/humanoid startups) and supply chain names have been putting strong emphasis on humanoid robot related R&D, reinforcing this future te ...