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.

• 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.

• Operating loss narrowed by 17.2% to RMB439.1 million, and net loss decreased 18.5% to RMB440.0 million.

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

• Adjusted net loss (non-GAAP) was RMB367.8 million, and adjusted EBITDA (non-GAAP) was negative RMB323.1 million.

Financial highlights

• Revenue: RMB621.5 million (+27.5% YoY); gross profit: RMB217.3 million (+17.3% YoY).

• Operating loss: RMB439.1 million (improved from RMB530.4 million YoY); net loss: RMB440.0 million (improved from RMB539.8 million YoY).

• Adjusted net loss (non-GAAP): RMB367.8 million; adjusted EBITDA (non-GAAP): RMB323.1 million loss.

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

• Gearing ratio: 57.2%, down from 71.6% at year-end 2024.

Outlook and guidance

• Continued investment in R&D for embodied intelligent humanoid robots and AI, focusing on industrial and commercial applications.

• Plans to iterate large multimodal reasoning models and group intelligence technology for robots.

• Ongoing optimization of autonomous driving for L4 vehicles and expansion into new industrial scenarios.

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