On August 10, the company announced the launch of its initial public offering on the Shanghai Stock Exchange’s science and technology board. This marks the debut of the first humanoid robot stock in the mainland Chinese market and sets a new benchmark for secondary market pricing in the embodied intelligence sector.
Late on August 6, the company set its IPO price at ¥150.80 (approximately $22.35) per share, valuing the company at roughly ¥61 billion (about $9 billion). Shareholders are expected to complete their payments by August 12. The specific date for the stock’s debut on the market has not yet been announced.
An industry insider commented, “Considering the average premium on the Star Market, the company’s leading position, and the rapid growth of the robotics industry, it’s possible the company could reach a valuation of ¥100 billion (around $14.8 billion) after going public.”
In the past year, the company reported a net profit of ¥591 million after excluding non-recurring items, a significant turnaround from a loss of ¥18 million (approximately $2.7 million) the previous year. Its revenue surged to ¥1.7 billion (about $251.9 million) from ¥159 million (approximately $23.6 million) in 2022, representing a compound annual growth rate of around 227 percent.
However, maintaining such rapid growth may prove challenging. Its profit, after excluding non-recurring items, declined 48 percent to ¥50 million (roughly $7.4 million) in the first quarter of this year compared to the same period last year. Revenue increased by 69 percent to ¥423 million, yet this growth rate was considerably lower than the previous year’s figures.
An analyst from China Reform Securities explained that the decline in profit was mainly due to substantial investments in research and development, as well as brand promotion, aimed at capitalizing on the industry’s current growth window. While these short-term profit pressures are strategic moves, remaining capable of sustaining high revenue growth amidst rising costs will be crucial for investors to watch, the analyst added.
The listing is expected to stimulate the embodied intelligence sector, especially the humanoid robot supply chain, and create new valuation opportunities, industry insiders noted. They also pointed out that the broader tech industry has been rebounding steadily after a significant adjustment last month.
The artificial intelligence technology sector is currently undergoing valuation correction and adjustment, but the overall upward trend remains clear. Experts from multiple brokerages emphasized that the AI industry is likely to regain momentum within this year.











