UBTECH ROBOTICS (09880) 2024 Annual Report: Revenue steadily increasing, humanoid Siasun Robot & Automation industrialization accelerating.

On the evening of March 30, 2025, UBTECH ROBOTICS (09880) released its 2024 annual performance report. The report shows that in 2024, UBTECH ROBOTICS achieved a total annual revenue of 1.305 billion yuan, a year-on-year increase of 23.7%. The company has achieved steady revenue growth for several years, with a total R&D investment of 478 million yuan, accounting for 36.6% of revenue, achieving a gross profit of 374 million yuan, a year-on-year increase of 12.4%, and narrowing losses by 8.3% compared to the previous year. Currently, the commercialization of humanoid Siasun Robot & Automation is still in the early stages of development. In 2025, "Embodied Intelligence" and "Intelligent Siasun Robot & Automation" were mentioned for the first time in the government work report. In the performance report, UBTECH ROBOTICS detailed the company's future strategies, highlighting the research and commercial application of embodied intelligence technology as a strategic focus. The report also emphasized the company's commitment to advancing humanoid Siasun Robot & Automation from industrial scenarios to households. UBTECH ROBOTICS sees humanoid Siasun Robot & Automation as the representative of new productive AI and deeply integrates into the national strategic blueprint as a technology pioneer, scenario definer, and ecosystem builder. According to the performance report, UBTECH ROBOTICS management unanimously believes that humanoid Siasun Robot & Automation, as the best carrier of artificial intelligence, is the ultimate form of embodied intelligence and a forward-looking area for developing new productive forces. UBTECH ROBOTICS has broken through group intelligent technology to advance humanoid Siasun Robot & Automation from standalone to group intelligence. The company's proprietary technology, such as BrainNet architecture and Internet-of-Human (IoH) for humanoid intelligence networking, has enabled multiple humanoid Siasun Robot & Automation to collaborate effectively in complex tasks. UBTECH ROBOTICS won the Leading Technology Award at the World Internet Conference for its key technologies in embodied intelligence developed in 2024. Furthermore, the report mentioned breakthroughs in various Siasun Robot & Automation technologies such as linear joint technology, third-generation humanoid dexterous hand with pressure detection, ROSA 2.0, position control, whole-body force control, reinforced learning full-stack motion control technology, and highly decoupled general dexterous operating software framework. As of December 31, 2024, UBTECH ROBOTICS held a total of 2,680 authorized patents, with over 500 new patents added compared to the previous year, and the invention patent ratio was 57.87%. UBTECH ROBOTICS Founder, Chairman, and CEO James Zhou stated that the application of humanoid Siasun Robot & Automation in the field of intelligent manufacturing has become a new high ground for global technological competition. UBTECH ROBOTICS industrial humanoid Siasun Robot & Automation has been used in the training of the most factories globally, competing in the same field as Tesla and FigureAI. The company must seize the window of industrialization, be the first to implement applications, not only to solve labor shortages but also to promote new industrialization and participate in global competition, reshaping the global manufacturing landscape. Previously, UBTECH ROBOTICS officials announced collaborations with well-known companies such as Dongfeng Liuzhou Motor, GEELY AUTO, FAW-Volkswagen Qingdao Branch, Audi FAW, BYD Company Limited, BAIC New Energy, Foxconn, and SF Express, making it the only company to announce collaborations with multiple automakers in the world.UBTECH ROBOTICS has also received orders for purchase. According to incomplete statistics, by 2025, Dongfeng Liuzhi Automotive will deploy 20 UBTECH ROBOTICS industrial humanoid Siasun Robot & Automation, and plans to complete the global first batch entry of humanoid Siasun Robot & Automation into automotive factories in the first half of the year. Easyhome New Retail Group Corporation plans to purchase and deploy 500 UBTECH ROBOTICS simulation humanoid Siasun Robot & Automation by the end of 2025, with plans to sell 10,000 units during the cooperation period. UBTECH ROBOTICS, in collaboration with the Beijing humanoid Siasun Robot & Automation Innovation Center, has released a full-size research and education humanoid Siasun Robot & Automation, the Tiangong Traveler, with a price of only 299,000 yuan. This product aims to reshape the humanoid Siasun Robot & Automation research and education ecosystem with a high cost-performance ratio, in a market where similar products (1.7-meter full-size research humanoid Siasun Robot & Automation) generally sell for over 500,000 yuan. According to UBTECH ROBOTICS officials, this year, industrial humanoid Siasun Robot & Automation, full-size research and education humanoid Siasun Robot & Automation Tiangong Traveler, and simulation humanoid Siasun Robot & Automation will achieve large-scale order deliveries.As a leading enterprise in the field of artificial intelligence and humanoid robots and automation in China, UBTECH ROBOTICS has become the focus of the capital market with its advantages in full-stack self-developed technology and forward-looking industrial application layout. Previously, UBTECH ROBOTICS was praised by Citibank for being the "next Tesla" and is currently valued at a level similar to Tesla's in the early stages of the emergence of new energy vehicles in 2010-2011 - at that time, Tesla Roadster had only delivered 1500 vehicles annually, but its market-to-sales ratio was as high as 24 to 25 times. On the previous day, international investment bank Morgan Stanley released a research report "Top 100 Humanoid Robots and Automation Companies: Mapping the Value Chain of Humanoid Robots and Automation Industry", where UBTECH ROBOTICS is the only Chinese humanoid robot and automation company included in the list, and considered to be one of the listed companies globally that is "closest to the pure concept of humanoid robots and automation". Since going public, UBTECH ROBOTICS has been covered by many brokerage firms including Changjiang, GF SEC, Guotai Junan Securities, Huatai, Haitong, Zheshang, Zhongtai, Northeast, Soochow, etc., and many brokerage reports have conducted in-depth research on UBTECH ROBOTICS. The consensus among brokerages is positive, all of them are related to the promising future of the humanoid robot and automation industry, along with recognition of UBTECH ROBOTICS' industry and corporate fundamentals, combined with the progress in the application of UBTECH ROBOTICS in vehicle factories announced for 2024.