Ubtech Robotics' stock fell 2.9% to HK$83, a day after the company's losses from a near 10% drop on Wednesday. The decline was attributed to sector-wide selling, triggered by the Unitree Robotics IPO earlier this week. The Shanghai exchange debut of the rival humanoid robotics firm has sent shockwaves through China's listed robotics universe, causing investors to shift their focus away from incumbent names like Ubtech. The company faces a packed corporate calendar, including a vote on bank financing arrangements, a proposed change in the use of previously raised proceeds, and a new H-share incentive scheme, all of which carry potential dilution risk.
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