Yushu Technology Raises Approximately 6.099 Billion Yuan in IPO, Valuation Reaches 60.993 Billion Yuan

On August 15, Yushu Technology's IPO on the STAR Market attracted market attention, with an initial public offering price of 150.80 yuan per share, expected to raise approximately 6.099 billion yuan, resulting in a total market capitalization of about 60.993 billion yuan post-issuance. As a member of the "Hangzhou Six Little Dragons," Yushu Technology is regarded as the first A-share company focused on humanoid robots. The company submitted its IPO application in March 2026 and successfully passed the review in June, setting the fastest review record since the STAR Market's pre-review mechanism was established. In the secondary market, Yushu Technology has become a popular target for new listings, with the online issuance lottery rate announced on August 12 being only 0.0181%, a historical low for the STAR Market, meaning only 1 in approximately 5,500 investors won a lottery. Based on the first-day price increase, the potential earnings from one lottery win (500 shares) could reach 200,000 to 300,000 yuan. The strategic placement lineup includes the National Social Security Fund, DeepSeek, and China National Petroleum Kunlun Capital, with DeepSeek allocated 933,400 shares, and the two parties will collaborate in areas such as general artificial intelligence and high-performance robotics. The company's core business covers humanoid and quadruped robots, with shipments reaching 5,900 units in the first half of 2026, capturing about 31% of the global market share, and the self-research and production rate of core components exceeding 90%. Early investor Yin Fangming invested 2 million yuan in 2016 for a 15% equity stake, and based on the issuance market value, his shares are worth approximately 1.685 billion yuan, yielding a return of over 840 times. Industry insiders believe that Yushu Technology's listing will provide the first secondary market valuation anchor for the embodied intelligent robot industry, promoting capital attention to the verification of commercialization capabilities, and it is expected that more robotics companies will enter the capital market in the future.

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