HomeChinaQiming Venture Partners' Portfolio Company UBTech Listed on Hong Kong Stock Exchange

Qiming Venture Partners’ Portfolio Company UBTech Listed on Hong Kong Stock Exchange

Qiming Venture Partners

Qiming Venture Partners‘ portfolio company UBTech, a humanoid robot leader in China, debuted on the Hong Kong Stock Exchange today.

UBTech (SEHK:9880)’s issue price was HK$90.00 per share, valuing it at HK$37.60 billion.

Established in March 2012 and led by Zhou Jian, Chairman, Executive Director, and CEO, UBTech is dedicated to the research and development of humanoid robots, and design, production, and commercialization of smart service robot solutions. Leveraging advanced humanoid robot technologies, the company offers products and services across five main areas in AI education, smart logistics, smart wellness and elderly care, commercial services, and consumer-level robots. UBTech’s full-stack technology combines robotic technologies (robotic motion planning and control technology and servo actuators) and AI technologies (computer vision and voice interaction technologies), powering a range of integrated robotic and AI technologies (SLAM and autonomous technology, visual servo operation, and human-robot interaction), controlled through the self-developed Robot Operating System Application Framework (ROSA). As of December 10, 2023, UBTech has served a broad customer base primarily in China and over 50 other countries and regions globally, with more than 900 corporate clients and over 760,000 units of robotic products sold during its track record period.

The company holds over 1,800 registered robotic and AI-related patents as of June 30, 2023, including more than 900 invention patents and over 380 overseas patents.

As an early institutional investor in UBTech, Qiming has been a key supporter since exclusively investing in its Series A financing in 2015. Founded in 2006, Qiming Venture Partners is a China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong in China and Singapore. Since its debut, the firm has backed over 530 innovative companies. Over 200 of its portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status. Many of its portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology, among many others.

VCWire

29/12/2023