**: Venture Capital Exchange.
According to the latest disclosure of the Hong Kong Stock Exchange, on December 1, 2023, Shenzhen UBTECH Co., Ltd. (hereinafter referred to as UBTECH) passed the hearing of the Hong Kong Stock Exchange and will be listed on the main board of the Hong Kong Stock Exchange, officially becoming the "first share of humanoid robots", with Guotai Junan International as the sole sponsor.
Founded in 2012, UBTECH is one of the very few market participants in the global humanoid robot industry, and has taken the lead in realizing the commercialization of humanoid robots, and the company is committed to the design, production, commercialization, sales and marketing, and research and development of intelligent service robots and intelligent service robot solutions. In the process of listing, it also received investment from many well-known institutions, and Tencent and Qiming Venture Capital were its largest external institutional shareholders before the IPO.
The "first share of humanoid robots" successfully broke through
Focusing on the field of robotics for more than ten years, UBTECH is a scientific and technological innovation company that has developed and grown from Shenzhen. According to the prospectus, as of June 30, 2023, UBTECH has served more than 50 countries and regions around the world, has more than 900 enterprise customers, and has sold more than 760,000 robots.
At present, UBTECH focuses on the three major application scenarios of humanoid robots, including industrial manufacturing, commercial services and home companionship. Among them, intelligent manufacturing will become the first large-scale application field of humanoid robots, which will redefine workers in the AI era and free people from repetitive labor.
In 2023, UBTECH will develop the humanoid robot Walkers for industrial applications, and cooperate with a number of leading new energy vehicle companies to plan the application of humanoid robots in manufacturing scenarios in stages. The commercial service scenario is the fastest application market for humanoid robots, and UBTECH's first batch of humanoid robots Walker X has landed in NEOM New Future City in Saudi Arabia, becoming the first generation of large-scale humanoid robot citizens to provide intelligent services. The home landing scene is the most potential application market for humanoid robots.
In terms of financial data. From 2020 to 2022, UBTECH's revenue will be 74 billion yuan, 81.7 billion yuan, 100.8 billion yuan, with a compound annual growth rate of 167%。Among them, the growth of annual operating income during the reporting period is accelerating, and the year-on-year growth rate of revenue in 2022 compared with the previous year will be 234%。In addition, in the first half of this year, UBTECH's cumulative revenue in three and a half years has exceeded 2.8 billion yuan.
The contribution of the humanoid robot business to UBTECH's operating income continues to increase, contributing 7.24 million yuan in revenue in the first six months of 2023, a significant increase over the same period of the previous year. In 2022, the humanoid robot business contributed 51.84 million yuan in revenue, a year-on-year increase of more than three times, accounting for 5% of the company's overall revenue1%, a significant increase compared with 2020 and 2021. Thanks to the high technical barriers of humanoid robots, the humanoid robot-related business maintained a gross profit margin of more than 50% in both 2022 and the first six months of 2023.
During the reporting period, UBTECH's total R&D investment was nearly 1.6 billion yuan, and the average R&D expenditure accounted for 56% of the total revenue5%。As of June 30, 2023, UBTECH has 1,800 patents related to robotics and artificial intelligence, of which more than 380 are overseas patents.
There are many star institutions behind it
On November 2, the Ministry of Industry and Information Technology issued the "Guiding Opinions on the Innovation and Development of Humanoid Robots", proposing that humanoid robots integrate advanced technologies such as industrial intelligence, high-end manufacturing, and new materials, and are expected to become subversive products after computers, smart phones, and new energy vehicles. By 2025, China will initially establish a humanoid robot innovation system, and a number of key technologies such as "brain, cerebellum, and limbs" will make breakthroughs, and the whole machine products will reach the international advanced level and achieve mass production. By 2027, the technological innovation ability of humanoid robots will be significantly improved, a safe and reliable industrial chain system will be formed, an internationally competitive industrial ecology will be built, and the comprehensive strength will reach the world's advanced level.
Since its establishment, UBTECH has received investment from well-known institutions such as Tencent, Qiming Venture Capital, CDH Investment, Industrial and Commercial Bank of China, and Easyhome. Before the IPO, Tencent and Qiming Venture Capital held more than 5% of UBTECH's shares, making them the largest and second largest institutional investors.
Recently, Beijing Humanoid Robot Innovation Center has also been formally established, planning to carry out five key tasks such as the prototype of the general humanoid robot ontology and the general model of the humanoid robot, which is also the first provincial humanoid robot innovation center in the country, which is jointly held by Beijing Yizhuang Investment Holding and UBTECH, Xiaomi, and Beijing Jingcheng Electromechanical, and the legal representative is UBTECH CTO Xiong Youjun. As a "national team" of humanoid robots, UBTECH is expected to gain more development opportunities in terms of technical breakthrough and application expansion.
Editor-in-charge: Zhu Yumeng.
Proofreading: Wang Wei.
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