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<Research> BofAS Cuts UBTECH (09880.HK) TP to HKD160, Reiterates Buy
Recommend 9 Positive 11 Negative 8 |
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BofAS published a research report stating that UBTECH (09880.HK) recorded a 69% YoY increase in revenue in 2H last year, 3% above the brokers forecast. Benefiting from a higher contribution from high-margin humanoid robotics business sales, gross margin expanded by 15.8 ppts YoY to 38.9%, above the brokers expectation of 30.5%. Net loss narrowed to RMB290 million, compared with a loss of RMB607 million in the same period of 2024, and was better than the brokers projected loss of RMB434 million. Taking into account UBTECHs performance in 2H last year, the broker raised its sales forecasts for 2026 and 2027 by 21% and 5%, respectively, and lifted its gross margin forecasts by 5 to 6 ppts. Net loss for 2026 is expected to narrow to RMB241 million. The broker cut the companys TP from HKD187 to HKD160 and reiterated its Buy rating. (sl/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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