SIASUN(SZ:300024) Xin Lang Cai Jing·2025-07-29 08:36Core Insights - Yushu Technology has initiated its IPO guidance and launched its latest humanoid robot, Unitree R1, indicating a simultaneous acceleration in its commercialization and capitalization processes [1][2] Group 1: IPO and Market Impact - Yushu Technology has completed the IPO guidance registration with the China Securities Regulatory Commission, with Citic Securities as the advisory institution, from July to September 2025 [2] - The controlling shareholder, Wang Xingxing, holds 23.82% of the company's shares directly and controls an additional 10.94% through a partnership, totaling 34.76% [2] - The IPO is expected to broaden Yushu Technology's financing channels, injecting funds into R&D for high-torque density motors, lightweight materials, and intelligent algorithms [2] - Yushu's listing may replicate Tesla's effect on the electric vehicle market, shifting the focus from "concept speculation" to "performance realization," potentially squeezing smaller players and favoring "technology leaders" in the industry [2] - A successful IPO for Yushu Technology could enhance investment interest in the humanoid robot sector and promote industry chain collaboration, helping China maintain a competitive edge globally [2] Group 2: Product Launch and Strategy - On July 25, Yushu Technology officially launched the Unitree R1 humanoid robot, priced starting at 39,900 yuan, making it the company's most affordable bipedal robot [3] - The R1 features 26 joints, weighs approximately 25 kg, and integrates multimodal voice and image models, positioning itself as a "developer platform" rather than a "labor replacement" [3] - The pricing strategy aims to expand the ecosystem by lowering development barriers, targeting AI companies, educational institutions, and enthusiasts, with future profitability expected from software and services [3] - The R1's pricing reflects Yushu's capabilities in self-research and domestic substitution of core components, benefiting from China's manufacturing advantages in lightweight materials and battery integration [3] - The R1 may foster a "developer economy" in educational, research, and light industrial scenarios [3] Group 3: Product Portfolio and Recommendations - Yushu Technology has launched a series of quadruped robots, including XDog, Laikago, AlienGo, A1, Go1, B1, Go2, and B2, along with humanoid robots H1, G1, and R1 since 2023 [4] - The simultaneous acceleration of commercialization and capitalization in humanoid robots suggests a growing interest in companies that may enter Yushu's humanoid robot industry chain [4]