Robot-Maker UBTech Tries for A-Share Foothold With Takeover of Auto Parts Firm
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UBTech Robotics Corp. Ltd. agreed to acquire a controlling stake in Shenzhen-listed Zhejiang Fenglong Electric Co. Ltd. for 1.665 billion yuan ($237 million), a strategic move to secure a listing platform on the Chinese mainland for the Hong Kong-traded humanoid robot manufacturer.
UBTech announced the deal late Wednesday, saying it would purchase 43% of Fenglong Electric’s shares at 17.72 yuan per share, a 10% discount to Fenglong’s closing price before its trading halt on Dec. 17. Fenglong’s stock jumped by the daily limit to 21.65 yuan when trading resumed on Thursday, valuing the company at 4.73 billion yuan.
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- 2023：
- Fenglong Electric reported a net loss of 7 million yuan.
- December 2023：
- UBTech went public in Hong Kong.
- 2024：
- Fenglong Electric posted a net profit of 4.6 million yuan.
- First nine months of 2025：
- Fenglong Electric posted a net profit of 21.5 million yuan.
- July 8, 2025：
- AgiBot announced it would acquire 60% of Swancor Advanced Materials Co. Ltd. (688585.SH).
- November 2025：
- UBTech insiders told Caixin that the company had plans to return to the A-share market.
- Nov. 15, 2025：
- Unitree Robotics completed its listing counseling.
- Before Dec. 17, 2025：
- Fenglong Electric’s closing price is recorded before a trading halt.
- Dec. 17, 2025：
- Fenglong Electric’s trading halted.
- Dec. 18, 2025：
- Fenglong Electric’s stock jumped by the daily limit to 21.65 yuan when trading resumed.
- Late Wednesday, Dec. 24, 2025：
- UBTech announced the deal and signed a share transfer agreement to purchase a 29.99% stake in Fenglong Electric.
- Dec. 23, 2025：
- Deep Robotics initiated its IPO counseling filing.
- Dec. 25, 2025：
- Deep Robotics completed a Pre-IPO funding round led by a national AI industry fund.
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