UBS is optimistic about MINTH GROUP's robotics business layout, raising the target price to 45.5 yuan

UBS published a research report stating that MINTH GROUP (00425.HK) has signed a framework agreement with Leaderdrive to establish a joint venture in the United States, engaging in the design, manufacturing, and commercialization of humanoid robot joint modules in North America. According to the agreement, MINTH's California company is expected to hold a 60% stake in the joint venture. MINTH believes that the gradual localization of core component supply is crucial for the sustainable development of its humanoid robot business in the North American market.

Due to MINTH's progress in humanoid robots and AI server liquid cooling business exceeding the bank's previous expectations, UBS has raised its profit forecasts for 2026 to 2030 by 1% to 3%, and increased its mid-term profit growth rate forecast from 7% to 8%. The bank has raised its target price from HKD 40.2 to HKD 45.5, maintaining a "Buy" rating