Ubtech Robotics Corp Ltd (9880.HK) received a filing notice from the China Securities Regulatory Commission. The notice confirms the filing 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.
The company's stock surged as much as 17.9% in afternoon trading. This marks the largest daily percentage gain for the stock since April. The rally indicates investor confidence in increased liquidity and growth prospects.
Ubtech recently unveiled its UWorld U1 series of life-sized humanoid companion robots. This product line targets domestic and elder-care settings. The series has already received over 13,000 pre-orders.