UBTech to Acquire Controlling Stake in Zhejiang Fenglong Electric for $228.1M as Industrial Humanoid Robot Orders Near $191.8M
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UBTech Robotics is acquiring a controlling stake in manufacturer Zhejiang Fenglong Electric for $228.1M to accelerate its humanoid robot industrialization. The move follows UBTech securing nearly $191.8M in industrial orders for its Walker S2 model, which has begun mass delivery.
Humanoid robotics company UBTech (09880.HK) announced on December 24 that it plans to acquire a 43% stake in Shenzhen-listed Zhejiang Fenglong Electric Co., Ltd. (002931.SZ) through a combination of share transfer and tender offer. The transaction involves 93.96 million shares at RMB 17.72(approx. 2.53 USD) per share, representing a roughly 10% discount to the stock’s pre-suspension price, with a total consideration of approximately RMB 1.665 billion (approx. 228.1 million USD).
UBTech, which listed in Hong Kong in December 2023, has made rapid progress in the commercialization of industrial humanoid robots. The company disclosed that it has already secured nearly RMB 1.4 billion (approx. 191.8 million USD) in industrial humanoid robot orders. Its flagship model, Walker S2, entered mass production and delivery in November 2025, with the first few hundred units deployed in automotive manufacturing and smart factory environments.
Current monthly production capacity exceeds 300 units, with full-year deliveries expected to surpass 500 units. UBTech plans to scale industrial humanoid robot capacity to 10,000 units annually by 2026.
Zhejiang Fenglong Electric specializes in garden machinery, engines, and automotive components. UBTech stated that the acquisition is intended to combine its robotics expertise with Fenglong’s precision manufacturing and supply-chain capabilities, accelerating the industrialization of humanoid robots.
Source : IPOzaozhidao
