Ubtech Robotics (9880.HK) shares surged as much as 17.9% in afternoon trading. This rally marks the company's largest daily percentage gain since April.
The China Securities Regulatory Commission (CSRC) confirmed the filing for Ubtech’s 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 corporate action expands the company's tradable share base to improve market liquidity.
Market sentiment also followed the unveiling of the UWorld U1 series of life-sized humanoid companion robots. This new product line targets domestic and elder-care settings. The company has already secured over 13,000 pre-orders for the U1 series.