UBTech, a humanoid robot company based in China, has successfully debuted on the Hong Kong Stock Exchange today, a portfolio company of Qiming Venture Partners. The first humanoid robot company to list on the exchange, UBTech (SEHK:9880), was priced at HK$90.00 per share, valuing the company at HK$37.60 billion in market value.
As Panda Robot Youyou took the stage at the listing ceremony, he was able to present a mallet to Zhou Jian, Chairman, Executive Director, and CEO of UBTECH, and he received it. In a pioneering move, Zhou Jian and UBTECH's newest generation industrial humanoid robot Walker S, holding another mallet, jointly hit the ceremonial gong, a historic moment that symbolically ushered in a new era of human-robot collaboration. 
A leading institutional investor in UBTech, Qiming has been a key supporter since its exclusive investment in its Series A financing in 2015, and the successful listing in 2023 marks the eighth IPO for Qiming in its history.
As one of the smallest companies in the global market for humanoid robots, UBTech was established in March 2012. In addition to researching and developing humanoid robots, the company is also responsible for designing, producing, and commercializing smart service robot solutions. As a matter of fact, UBTech was one of the first companies to commercialize this technology while it was still in its infancy.
As of the first half of 2023, UBTech's R&D expenditures accounted for 56 percent of the company's total expenditures from 2020 to 2023.A percentage of 5% of the total revenue is expected to be collected. Currently, the company holds more than 1,800 registered patents related to robotics and artificial intelligence as of June 30, 2023, including more than 900 invention patents and more than 380 overseas patents.. The full-stack technology offered by UBTech combines robotic technologies (robotic motion planning and control technology and servo actuators) with artificial intelligence (computer vision and voice interaction technologies). In order to power a variety of robotics and artificial intelligence technologies (SLAM and autonomous technology, visual servo operation, and human-robot interaction), the self-developed Robot Operating System Application Framework (ROSA) must be used.
The full-stack technology offered by UBTech combines robotic technologies (robotic motion planning and control technology and servo actuators) with artificial intelligence (computer vision and voice interaction technologies). In order to power a variety of robotics and artificial intelligence technologies (SLAM and autonomous technology, visual servo operation, and human-robot interaction), the self-developed Robot Operating System Application Framework (ROSA) must be used.
With the use of advanced humanoid robot technologies, UBTech offers products and services spanning five different areas in AI education, smart logistics, wellness and elderly care, commercial services, and consumer robots, all of which utilize advanced humanoid robot technologies. On December 10, 2023, UBTech has served over 900 corporate clients, as well as over 760,000 units of robotic products over the course of its track record period, primarily in China, and over 50 other countries and regions worldwide.
"It's important for entrepreneurs in the field of hard and core technology to be able to strike a balance between what's technically possible and what the market wants". In my opinion, humanoid robots are a substantial and real market need that must be addressed in the near future. Whether it takes ten years or thirty years, we are committed to achieving our goals, regardless of how long it takes.As Zhou Jian put it, "Therefore, it is imperative that entrepreneurs collaborate with investors who share a similar vision and focus on creating long-term value for their organizations.". I believe that Qiming Venture Partners has made a worthy example of this in this regard
I believe that Qiming Venture Partners has made a worthy example of this in this regard
We are proud to have supported the journey to the IPO of UBTech. We have been impressed by Mr. Zhou's commitment to the humanoid robot industry and his entrepreneurial drive to overcome challenges from the start. Qiming Venture Partners' Founding Managing Partner Duane Kuang commented, "We are optimistic about the future of artificial intelligence and human-like robots, and we are bullish on Chinese entrepreneurs and companies that are willing to innovate and break new ground in these fields."
Qiming Venture Partners is a venture capital firm based in Beijing.
The Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, and Singapore that was established in 2006.
As of now, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with a total capital raised of $9.5 billion. Our company was founded in 1998, and since then, we have made a number of significant investments in companies in the Technology and Consumer (T&C) and Healthcare industries at a very early stage of development.
Over 530 fast-growing and innovative companies have been backed by our company since its inception. In the past two years, over 200 of our portfolio companies have achieved exits either through IPOs on the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means.. Additionally, there are over 70 companies in the portfolio that have achieved unicorn or super unicorn status as well. Our portfolio companies include Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, a number of the most influential firms in their respective fields today, such as Xiaomi, Meituan, Bilibili, Zhihu, Roborock. In addition to APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, UBTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, and Biren Technology are among many others.
Our portfolio companies include Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, a number of the most influential firms in their respective fields today, such as Xiaomi, Meituan, Bilibili, Zhihu, Roborock. In addition to APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, UBTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, and Biren Technology are among many others.
Qiming Venture Partners is the source of this information
The portfolio company Tuhu Car of Qiming Venture Partners, one of China's leading one-stop car service platforms, has successfully listed on the Hong Kong Stock Exchange.
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