UBTech Ranks First Globally in Market Share but Loses 340 Million Yuan in Half a Year; Gap Between Orders and Deliveries Sparks Controversy

The article reviews UBTech's 2026 commercialization transition: in the first half of the year, revenue from full-size embodied intelligent humanoid robots surged 1445% year on year to 590 million yuan, giving it the top spot in the global humanoid robot market with a 24.8% revenue market share, but it posted a half-year loss of 340 million yuan, and its cash reserves fell from 4.888 billion yuan to 2.326 billion yuan. Orders for the U1 series exceed 13,361 units, while only 1,500 to 2,000 units can actually be delivered within the year; JPMorgan raised its 2030 global humanoid robot shipment forecast to 1.75 million units, but downgraded UBTech to Neutral and cut its target price from HK$118 to HK$74.