Latest news with #UBTechRobotics
South China Morning Post
3 days ago
- Business
- South China Morning Post
Beijing's E-Town offers subsidies to robot buyers as China embraces humanoids
A hi-tech area in Beijing will host a shopping festival for robots, where buyers can receive up to 250,000 yuan (US$34,700) in subsidies when purchasing robots from some of the country's leading manufacturers of the advanced technology. The event, which runs through August 17, will cover products from leading Chinese brands such as Unitree Robotics and UBTech Robotics, according to a Sunday post from the administrative body of Beijing Economic-Technological Development Area, also known as E-Town, a state-backed hub for hi-tech manufacturing in southeastern Beijing. The festival marks the launch of a new shop specialising in robot purchases and maintenance, which is scheduled to open on Friday in the E-Town area. Besides Unitree and UBTech, the shop will also feature Tien Kung, a humanoid machine from the Beijing Humanoid Robot Innovation Centre, backed by UBTech and Xiaomi, and SenseRobot Go, a Go-playing robot from artificial intelligence giant SenseTime. Corporate clients who purchase products worth 5 million yuan at the shop would be eligible for a subsidy of 250,000 yuan. Individual buyers at the store can save 1,500 yuan if the order is over 10,000 yuan. Beijing's E-Town is hosting a robot shopping festival until August 17, offering subsidies of up to 250,000 yuan for purchasing robots. Photo: Handout Online shoppers also qualify for discounts. one of China's largest online marketplaces, which is headquartered in E-Town, has launched a dedicated channel for the shopping festival, offering more than 680 robot models from 63 brands including EngineAI, whose PM01 performed the world's first robot frontflip in February , and Limx Dynamics, backed by and Alibaba Group Holding. Alibaba owns the Post.
Bloomberg
28-07-2025
- Bloomberg
Boxing, Backflipping Robots Rule at China's Biggest AI Summit
From lumbering six-foot machines to nimble back-flipping dogs, robots lorded over China's most important annual AI conference in Shanghai this week. Thousands turned up to gawk at the antics of a bewildering array of droids at work: dispensing popcorn and drinks (messily), peeling eggs, sparring in a boxing ring, playing mahjong or just wandering around the cavernous exhibition hall. The more popular robots were the creations of Unitree, UBTech Robotics Corp. and Agibot, who've built up some name-recognition among the hundreds of startups and big tech firms vying to produce the world's most advanced humanoid androids. The scores of machines on display were the most visible symbol yet of China's surprisingly rapid ascent in a key arena of artificial intelligence. Hangzhou-based Unitree teased an entry-level $6,000 droid and ByteDance Ltd. posted a video of its Mini hanging up a shirt just days before the World Artificial Intelligence Conference kicked off over the weekend.
South China Morning Post
25-07-2025
- Business
- South China Morning Post
China's Unitree debuts US$5,900 humanoid robot in race to make cheaper products
Unitree Robotics, which is gearing up for an initial public offering (IPO), unveiled its R1 humanoid model priced from 39,999 yuan (US$5,900), making it affordable for individual developers and consumers. Advertisement Marketed as 'born for sport', the R1 was seen doing a cartwheel, walking on its 'hands', throwing a punch, lying down then standing up, and running down a hill, according to a video posted on Chinese social media on Friday. The machine weighs 25 kilograms and features 26 joints. The company has not disclosed other details. The R1 is the cheapest humanoid robot from the Hangzhou, Zhejiang province-based unicorn. Two earlier models, the G1 which stands 130cm tall and weighs 35kg, and the H1 at 180cm and weighing 47kg, start at 99,000 yuan and 650,000 yuan, respectively. These prices are cheaper than offerings from Chinese rivals. In March, Hong Kong-listed UBTech Robotics released a life-size humanoid robot for research purposes, priced at 299,000 yuan. Shenzhen-based EngineAI's PM01 model , released in December, was on sale for 88,000 yuan as of the end of March, but it is only 138cm tall. Unitree Robotics said its R1 was 'born for sport'. Photo: Handout
South China Morning Post
24-07-2025
- Business
- South China Morning Post
SenseTime, Mengniu join UBTech in wave of Chinese firms tapping capital markets
Chinese companies are stepping up their fundraising activities to shore up liquidity and manage refinancing needs as market sentiment shows signs of recovery in the second half of the year. Advertisement On Thursday, artificial intelligence firm SenseTime unveiled an agreement to raise HK$2.5 billion (US$318 million) through a share subscription, and dairy giant Mengniu Dairy said it would generate 3.5 billion yuan (US$489 million) through a bond issuance. Those plans came to light a day after UBTech Robotics divulged a HK$2.4 billion share placement plan. The financing moves come amid strong momentum in Hong Kong's equity market . Initial public offerings in the city surged 695 per cent year on year in the first half to US$14.1 billion, making it the world's largest IPO market during the period, according to a report released by bourse operator Hong Kong Exchanges and Clearing (HKEX) on Wednesday. 'Investor sentiment has improved markedly,' despite complicated geopolitical tensions, HKEX said, noting that both international institutions and retail investors had shown strong demand for new offerings. Equity fundraising was particularly active in the consumer sector and the technology, media and telecommunications sector, with firms in AI, healthcare and fast-moving consumer goods raising substantial capital to fuel expansion, it said. SenseTime said its conditional subscription agreement with unnamed investors would involve 1.67 billion new shares priced at HK$1.50 apiece, representing a 6.25 per cent discount to its last closing price. The proceeds were expected to support the firm's business development and general corporate use, including ongoing investment in AI infrastructure and research into generative models, as well as new areas such as robotics and digital finance, it said. Advertisement Mengniu, one of China's largest dairy producers, said it would issue two tranches of yuan-denominated bonds: a 2 billion yuan bond maturing in 2030 with a 2 per cent coupon, and a 1.5 billion yuan bond maturing in 2035 with a 2.3 per cent coupon. The company said the proceeds would be used for refinancing existing debt, with an equivalent amount to be allocated to eligible green and social-responsibility projects under its sustainable-financing framework.
South China Morning Post
22-07-2025
- Business
- South China Morning Post
China's UBTech Robotics eyes US$307 million in Hong Kong share placement
Shenzhen-based UBTech Robotics, China's top maker of humanoid robots, plans to raise about HK$2.41 billion (US$307 million) through a share placement in Hong Kong, according to a filing on Tuesday. The company, which became the first robotics maker on the Hong Kong stock exchange in 2023, is offering 30,155,450 new shares at HK$82 per share, representing a discount of about 9 per cent to the closing price of HK$90.25 on Monday. The new shares would represent around 6.39 per cent of the company's enlarged issued share capital after the placement, it said. UBTech planned to use the proceeds for business operations and development, including working capital, investments, project construction and renovation, as well as for repayment of loans and interest, according to the filing. Since its listing at the end of 2023, the company has carried out a series of follow-on fundraisings, including nearly HK$2 billion in the past 12 months. UBTech shares dropped by about 5.6 per cent to HK$85.15 on Tuesday morning.
