Shenzhen-based UBTech Robotics, one of China’s leading humanoid robotics manufacturers, has announced plans to raise approximately HK$2.41 billion (US$307 million) via a share placement in Hong Kong. The move, revealed in a stock exchange filing on 18 July, represents another significant capital raise for the company since it went public late last year.
Share placement details and market response
According to the filing, UBTech will offer 30,155,450 new shares priced at HK$82 each—approximately 9 per cent lower than the previous closing price of HK$90.25 on 17 July. These new shares will account for approximately 6.39% of the company’s total enlarged share capital following the placement.
The firm stated that the funds raised will be used to support its ongoing business operations and expansion plans. This includes working capital, project investments, construction and renovation initiatives, as well as repayment of existing loans and interest.
UBTech shares fell by roughly 5.7 per cent to HK$85.10 on Tuesday following the announcement. The company has been active in securing capital since its debut on the Hong Kong Stock Exchange in 2023, raising nearly HK$2 billion over the past 12 months through additional funding rounds.
Growth trajectory and recent milestones
UBTech was established in 2012 and gained national recognition in 2016 when 500 of its Alpha robots performed at China’s Spring Festival gala. Over the years, it has attracted investment from major players such as Tencent Holdings, ICBC, and voice recognition firm iFlyTek in various fundraising rounds leading up to its initial public offering.
The company recently secured a major commercial win on 18 July, obtaining a 90.5 million yuan (US$12.6 million) contract to supply robotic equipment to MiYi (Shanghai) Automotive Technology. This contract is widely reported to be the largest single order in the global humanoid robotics sector to date. The delivery of the equipment is expected to commence in September.
In addition, UBTech unveiled a new robot last Thursday called Walker S2, which features the ability to autonomously replace its batteries. During a live demonstration, the robot was shown removing a depleted battery from its chest, placing it in a charger, inserting a fully charged replacement, and then continuing on its path without assistance.
Industry outlook and government support
The Chinese humanoid robotics sector has seen increasing support from both central and local governments. In February, the municipal government of Shenzhen, located in Guangdong Province, announced subsidies of up to 10 million yuan for robotics firms. Similarly, the city of Wuhan in Hubei province stated in June that eligible companies could receive up to 60 million yuan in financial support.
These policy initiatives reflect a broader push to promote the commercialisation of humanoid robots across China. Industry analysts noted that the recent pre-IPO filing by Hangzhou-based Unitree Robotics signals a shift in the sector “from laboratory to commercialisation,” as domestic firms prepare for wider market adoption.
