Daily Investment Strategy
Daily focus ： Real-Time Quote
UBTECH (9880): expects revenue of RMB 2.001 billion in 2025, a year-on-year increase of 53.3%. Gross profit more than doubled to RMB 754 million, with the gross margin significantly improving from 28.7% to 37.7%. Although net loss narrowed from RMB 1.16 billion to RMB 790 million, the company remains in a high-investment phase and will need to raise funds through multiple rounds of new share placements in 2025 to maintain liquidity and support construction expenses for projects such as the Shenzhen headquarters. Humanoid robots are the core growth driver, with revenue in this segment surging approximately 22 times year-on-year to RMB 821 million, becoming the largest revenue source. Looking ahead to 2026, the company aims to increase shipments of the Walker S series to 5,000 units and focus on collecting millions of hours of real-device data to drive the development of "world models." While management expects gross margin to climb to 43%-45%, the company's R&D expenditure in the field of embodied intelligence will further increase to approximately 700 million RMB.
News of a US-Iran ceasefire resurfaces
US President Trump agreed to a two-week ceasefire, halting bombings and attacks on Iran. Trump stated that Iran's 10-point proposal was a viable basis for negotiations, and that Iran had agreed to open the Strait of Hormuz. Stimulated by this positive news of a two-week ceasefire agreement between the US and Iran, international oil prices plummeted. WTI crude oil futures fell more than 10% intraday, briefly dipping below $90 per barrel.
Hong Kong Stock Connect saw a net inflow of HK$19.828 billion on Thursday, with the Tracker Fund of Hong Kong (02800) experiencing the largest inflow at HK$8.55 billion, followed by the Hang Seng China Enterprises Fund (02828). China National Offshore Oil Corporation (00883) recorded the largest net outflow at HK$734 million, followed by Alibaba Group Holding Limited (09988).
Leung Kai Tong is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to https://apps.sfc.hk/publicregWeb/indi/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.
