Unitree's IPO market cap of 60.9 billion yuan, Liang Wenfeng invested.

Unitree Technology recently announced its strategic placement results. Nine investors participated, receiving 8,089,286 shares, approximately 20% of the total offering. Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Company (DeepSeek), Tencent, CNPC, China Southern Power Grid, and others are among the strategic investors.

Among them, DeepSeek received 933,399 strategic placement shares of Unitree Technology, accounting for 2.31% of the IPO strategic placement, worth over 140 million yuan, with a 36-month lock-up. Tencent's Shanghai Qishan Investment Co., Ltd., China Petroleum Group Kunlun Capital, and China Southern Power Grid Industry-Finance Holding Group each obtained 903,290 shares worth approximately 136 million yuan. These enterprises are "large enterprises or their subsidiaries with strategic cooperation or long-term cooperation vision with the issuer's business."

DeepSeek and Unitree Technology also signed a procurement agreement to integrate DeepSeek's AI models with Unitree's technologies in mechanical engineering, motion control, and embodied intelligence.

According to the announcement, Unitree Technology's IPO on the STAR Market is priced at 150.80 yuan/share. Based on post-issuance total share capital, the market cap is 60.993 billion yuan. Before the offering, founder Wang Xingxing held 33.3583% of shares, giving him a net worth of 20.35 billion yuan.

The offering totals 40,446,434 shares, 10% of the post-issuance capital. The P/E ratio is 219.23 times, with expected total funds raised of about 6.099 billion yuan; after deducting issuance expenses (excl. VAT) of 182 million yuan, net proceeds are expected to be 5.917 billion yuan, exceeding the previously planned 4.202 billion yuan.

Proceeds will be used for intelligent robot model R&D, robot body R&D, new intelligent robot product development, and intelligent robot manufacturing base construction.

The strategic investors introduced have the basis for in-depth R&D with the issuer. Bringing in leading large-model companies can focus on AI large models and embodied intelligence R&D, integrating technical strengths to enhance robots' understanding and generalization in complex scenarios, and jointly advance general artificial intelligence.

The prospectus shows that from 2023 to 2025, Unitree's revenue was 159 million, 393 million, and 1.699 billion yuan respectively; net profit attributable to parent was -11.1451 million, 94.5018 million, and 278 million yuan. In the capital-intensive high-performance general robot industry, it is one of the few globally to achieve scaled sales and profitability.

In Q1 2026, Unitree's revenue was 423 million yuan, year-on-year growth slowed to 68.49% from 332.64%; non-GAAP net profit fell to 40.2536 million yuan from 84.8365 million yuan a year earlier, a decline of 52.55%.

Unitree expects H1 2026 revenue of 1.052-1.128 billion yuan, up 35.62%-45.41%. Due to rising R&D expenses, net profit after non-recurring items is expected at 236-283 million yuan, down 21.97%-6.43% year-on-year, a significant narrowing from Q1's decline.

Seller's Home Comments

DeepSeek's strategic investment in Unitree signals accelerated integration of AI large models and embodied intelligence. Cross-border sellers can focus on potential blockbuster opportunities in humanoid robot supply chains. It is advisable to research related components and smart hardware categories early, differentiate product selection, and seize the technology dividend window.

Source: E-commerce Pai
Original link: https://www.pai.com.cn/p/01kzcw1f7cv8pavgba918jkrqe