Ubtech Robotics Struggles to Convince Investors as Block Trade Overshadows Polaris AI Deal and Consumer Robot Launch

A block sale of 65,300 shares at HK$104.60 late Friday amplified selling pressure on Ubtech Robotics, dragging the Hong Kong-listed stock to a close of HK$102.20 — a 6.92% rout on the day. The transaction, worth HK$6.83 million and flagged by AASTOCKS at 11:09 local time, hit a market already in retreat. By the closing bell, the equity had brushed against its session low of HK$101.20, leaving the week’s loss in euro terms at 16.36% and the year-to-date decline at 21.32%. In euro terms, the Friday close of €11.41 stands 32.7% below the 52-week high of €16.95.

The block trade was not the only source of pressure. Short selling accounted for HK$55.1 million in volume, representing a 7.2% short interest ratio, while total turnover surpassed HK$630 million on nearly 15 million shares changing hands. The immediate technical picture is now defined by the HK$101.20 support level; a break below that would extend the bearish pattern, while a recovery back above the block-trade price of HK$104.60 would signal that buyers absorbed the offering better than Friday’s session suggested.

Yet the price action stands in stark contrast to a flurry of operational activity. Late May saw South Korean AI firm Polaris confirm a training partnership with Ubtech. Engineers from both sides worked on operating the Walker S2 humanoid and on SDK-based secondary development. Ubtech provided the development environment and coding files for robot control, while Polaris received training in core motion technologies including wrist control. Polaris is now evaluating whether the Walker S2 can be deployed in real production environments, with plans to build application models for Korea’s manufacturing industry using its own manufacturing units — Polaris Sewon, Polaris Uno and Polaris AI Pharma.

Should investors sell immediately? Or is it worth buying Ubtech Robotics?

On the consumer front, Ubtech unveiled the Walker C1, a full-sized service robot that performed waltz and ballet choreography alongside human dancers — a demonstration of precision motion, balance and coordination. The C1, designed for hotels, airports and convention centers, is the first hardware under the consumer brand UWORLD, announced by founder Zhou Jian on May 20. This marks a deliberate pivot away from pure factory deployments. Ubtech also secured a role as official humanoid partner of the China International Supply Chain Expo 2026.

Financially, the disconnect between newsflow and share price is even starker. Revenue for 2025 surged 53.3% to RMB2.001 billion, gross margin improved from 28.7% to 37.7%, and the net loss shrank 31.9% to RMB790 million. Management targets a gross margin of 40%–43% for 2026. The full-sized humanoid segment exploded from RMB35.6 million to RMB821 million — a 25-fold jump — with an order backlog of roughly RMB1.4 billion. Ubtech is planning to deliver 10,000 humanoids in 2026, up from 1,000 units in 2025 that placed it third behind AgiBot (5,168 units) and Unitree Robotics (4,200 units), according to Omdia.

Three capital raisings brought in HK$5.88 billion, and cash reserves stood at RMB4.9 billion at the start of the year. That financial cushion, combined with the annual general meeting’s approval on May 7 of a buyback program for up to 10% of H-shares, suggests the board considers the equity undervalued. Analysts concur: all 12 covering the stock rate it a buy, with a consensus price target of HK$158.63 (roughly €18.50), implying more than 50% upside from Friday’s close.

Catalysts in the near term include the delivery ramp, a logistics pilot with Germany’s Rossmann that could deliver the first firm orders outside China, and PMI data due June 3 for both Hong Kong and China. China’s official manufacturing PMI of 50.3 in April — barely above expansion territory — will be watched for signs of industrial momentum that could rekindle interest in automation plays. For now, however, the block trade has reset the technical tone, and investors will need to see whether Friday’s sell-off was a liquidity event or the start of a broader reassessment of the robot maker’s valuation.

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