Ubtech Robotics Corp (9880) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2026, surged 104.2% year-over-year to RMB1,269.1 million, driven by rapid adoption of full-size embodied intelligent humanoid robots.

• Gross profit rose 160.9% year-over-year to RMB566.9 million, with gross margin improving to 44.7% from 35.0% last year.

• Loss for the period narrowed by 23.0% year-over-year to RMB338.8 million, reflecting improved operational leverage.

• Major acquisition of Zhejiang Fenglong Electric expanded business scope to garden machinery, automotive, and hydraulic components.

Financial highlights

• Operating loss decreased 36.4% year-over-year to RMB279.1 million.

• Adjusted EBITDA (non-GAAP) improved to negative RMB174.1 million from negative RMB321.8 million year-over-year.

• R&D expenses increased 38.9% to RMB303.1 million, but as a percentage of revenue fell to 23.9%.

• Selling and administrative expenses as a percentage of revenue dropped significantly due to revenue growth.

• Cash and cash equivalents stood at RMB2,325.6 million as of June 30, 2026.

Outlook and guidance

• Focus on advancing embodied intelligence technology, expanding humanoid robot applications across industrial, commercial, educational, and home scenarios.

• Continued investment in R&D, platformization, and developer ecosystem to drive large-scale commercialization.

• Plans to enhance multi-modal perception, large model technology, and end-to-end motion control.