Citigroup: If Ubtech's entire robot order is delivered this year, the company's revenue forecast may be raised by about 8%. Reiterate buy rating.

Citi claimed that UBTECH's humanoid robot orders have reached 400 million RMB, and if all orders are delivered this year, Citi's revenue forecast for UBTECH in 2025 is expected to be raised by approximately 8%. Note: UBTECH announced on Wednesday that it has secured a 250 million RMB humanoid robot order, with the main focus on the Walker S2 humanoid robot equipped with a self-contained hot-swappable battery system, which will start delivery later this year. Citigroup analysts, including Jamie Wang, stated in the report that the order is expected to include 250-300 humanoid robots, although management refused to disclose any details of the order. They reiterated their buy rating for UBTECH, with a target price of 121 HKD.