Ubtech Robotics Corp Ltd received a filing notice from the China Securities Regulatory Commission (CSRC) for its H Share Full Circulation plan. The company will convert 5,453,931 domestic shares into tradable H-shares on the Hong Kong Stock Exchange. This move expands the company's tradable share base.
Ubtech’s Hong Kong-listed stock (9880.HK) surged as much as 17.9% in afternoon trading. This rally marks the company's largest daily percentage gain since April.
The company recently unveiled the UWorld U1 series of life-sized humanoid companion robots. This new product line targets domestic and elder-care markets. Ubtech has reportedly received over 13,000 pre-orders for the U1 series.