On October 12, UBTECH ROBOTICS fell 5.09% in regular trading, trading at HK$68.1 with turnover of HK$2.6 billion. The decline followed JPMorgan's downgrade of the stock from Overweight to Neutral, with its target price cut from HK$118 to HK$74, citing the company's discounted valuation relative to peers and a lack of proven platform pricing power among humanoid robot makers.
JPMorgan also forecast that the average selling price of humanoid robots could drop 56% by 2035, fueling concerns over industry pricing pressure. This broader sector sentiment dragged down other robotics-related names as well. Meanwhile, UBTECH had recently announced partnerships with Xiamen C&D and FAW-Volkswagen, and reported over 100% revenue growth in its latest interim results, but these positives did not offset the negative rating action.
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