Ubtech Robotics Corp (9880) H1 2025 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2025, rose 27.5% year-over-year to RMB621.5 million, driven by new consumer-level products and project deliveries.

• Operating loss narrowed by 17.2% to RMB439.1 million, and net loss decreased by 18.5% to RMB440.0 million compared to the same period in 2024.

• Gross profit increased 17.3% to RMB217.3 million, but gross margin declined to 35.0% from 38.0% due to lower margins in education smart robotics.

• Significant R&D and product launches across industrial, education, logistics, and consumer robotics, with strong international expansion and industry recognition.

Financial highlights

• Adjusted net loss (non-GAAP) was RMB367.8 million, slightly higher than RMB363.5 million in 2024.

• Adjusted EBITDA (non-GAAP) was negative RMB323.1 million, compared to negative RMB308.6 million a year earlier.

• Cash and cash equivalents stood at RMB1,157.4 million as of June 30, 2025.

• Gearing ratio improved to 57.2% from 71.6% at year-end 2024.

Outlook and guidance

• Continued focus on R&D and commercialization of embodied intelligent humanoid robots and AI technologies.

• Plans to enhance multimodal perception, group intelligence, and autonomous driving technologies for industrial and consumer applications.

• Expansion of product lines and international market presence, with new products expected in the second half of 2025.