UBTECH Robotics优必选

About

China's pioneering humanoid robotics company founded by Zhou Jian (周剑) in 2012, with 12+ years of development history. The 'first humanoid robot stock' globally (HK-listed Dec 29, 2023). Full-stack technology from servo actuators (1M+ units produced) to AI. Walker series deployed in automotive factories (BYD, NIO, Zeekr) for quality inspection, logistics, and data collection. Alpha educational robots performed at 2016 CCTV Spring Festival Gala (540 robots, Guinness World Record).

Shenzhen, Guangdong · Founded 2012 · Company website

Why in the Index

China's only listed humanoid robotics pure-play. The Walker S1 and Tien Kung humanoids are in industrial deployment trials with several Chinese OEMs.

PAI exposure of 95% reflects the share of trailing-twelve-month revenue attributed to Physical AI activities. See methodology §4 for inclusion criteria and §6 for how PAI exposure scales the weight.

Key Physical AI activities

• Walker S2 · Bipedal humanoid · 2025Latest industrial humanoid with world-first hot-swappable self-charging (3-min swap), Co-Agent multi-robot coordination AI
• Walker S1 · Bipedal humanoid · 2024Industrial humanoid deployed at Geely auto factory — mm-level non-destructive inspection with >99% accuracy
• Walker S · Bipedal humanoid · 2024Industrial humanoid deployed in BYD, NIO, Zeekr automotive factories for assembly line trials
• Walker X · Bipedal humanoid · 2021Commercial-grade bipedal humanoid, first commercialized in 2022
• Walker C · Bipedal humanoid · 2023Commercial service humanoid for reception and guidance
• Alpha 1S · Small humanoid · 2013Educational/consumer small humanoid robot — 540 performed at 2016 Spring Festival Gala (Guinness World Record)
• Cruzr S2 · Wheeled humanoid · 2024Wheeled humanoid for commercial service scenarios
• Uworld · humanoid
• Walker C1 · humanoid

Key partnerships

• Geely Auto (吉利汽车)
• BYD (比亚迪)
• NIO (蔚来)
• Zeekr (极氪)
• Dongfeng Liuqi (东风柳汽)
• Tianqi Automation (天奇自动化)

Key investors

• 无极资本Infini Capital

Milestones

• 2012-03—Company founded in Shenzhen by Zhou Jian
• 2013-01—Released Alpha 1S — first consumer small humanoid robot
• 2016-02—540 Alpha robots performed at CCTV Spring Festival Gala (Guinness World Record)
• 2018-01—Released first-generation Walker humanoid robot
• 2023-12—Listed on Hong Kong Stock Exchange (9880.HK) — 'first humanoid robot stock'. Robot performed listing ceremony gong strike
• 2024-01—Walker S deployed in NIO, BYD, Zeekr automotive factories for assembly line trials
• 2025-01—Released Walker S2 with world-first hot-swappable self-charging system
• 2025-09—Received ¥250M order from a major domestic enterprise
• 2025-11—¥159M order from Zigong data collection center
• 2025-11—¥264M order from Guangxi data collection & testing center
• 2025-12—Full-year Walker series orders exceeded ¥1.3B (>¥1.4B total)
• 2025-12—~1,000 humanoid robots shipped — ranked #3 globally

Competitive position

Global #3 in 2025 shipments (~1,000 units). Orders >¥14B in 2025 — highest in industry. Predates current humanoid boom by a decade. Proprietary servo actuators (claimed 1M+ units produced). Accumulated significant losses (2.4B RMB cumulative 2020-2022) but maintains strong government and educational market relationships. Self-developed BrainNet AI system integrates cloud Super Brain + onboard Smart Cerebellum. Claims world's largest factory real-environment humanoid robot dataset. Industrial capacity target: 5,000 units/year in 2026, 10,000 in 2027. Multi-generation Walker evolution (Walker → Walker X → Walker S → Walker S2). Competitive positioning challenged by newer entrants (Unitree, AgiBot) with lower cost structures.

Recent activity