IPO前夜，宇树为何要豪掷1亿拿下春晚？

Core Viewpoint - The 2026 Spring Festival Gala will feature the theme "Galloping Steeds, Unstoppable Momentum," with significant commercial value highlighted by record viewership and engagement metrics, making it an attractive platform for sponsors, particularly in the robotics sector [1][2]. Group 1: Viewership and Commercial Value - The 2025 Spring Festival Gala achieved a record viewership of 16.8 billion people across all media platforms, with a television share of 78.88%, the highest in nearly 12 years [1]. - The Gala is recognized as the world's highest-rated television event, making it a prime opportunity for companies seeking exposure [1]. Group 2: Sponsorship and Competition - Companies like Yushu Technology and Zhiyuan Innovation are competing for sponsorship, with Yushu reportedly bidding 100 million yuan, significantly higher than Zhiyuan's 60 million yuan offer [1][2]. - The presence of more intelligent and robotic companies at the Gala is anticipated, reflecting the growing interest in the robotics industry [1]. Group 3: Industry Context and Trends - 2025 is termed the year of commercialization for humanoid robots, with numerous companies entering the market and generating significant media attention [2]. - Yushu has been a frequent participant in the Gala, previously showcasing its robots in creative performances that blend technology with cultural elements [5]. Group 4: Marketing Strategy and IPO - Yushu's substantial bid for the Gala sponsorship is seen as a strategic move to enhance brand visibility and attract investor interest ahead of its IPO [4][12]. - The company is currently in its fourth round of financing, with notable investors including government funds and major tech firms like Tencent and Alibaba [12]. Group 5: Product Launch and Market Reception - Yushu launched its R1 humanoid robot, priced from 29,900 yuan, aimed at the consumer market, although initial sales have been underwhelming compared to its more established products [12][14]. - The rental market for Yushu's robots has seen fluctuations, with rental prices dropping significantly as the novelty wore off [14]. Group 6: Industry Challenges and Perceptions - The humanoid robotics sector faces skepticism, particularly following incidents involving other companies' robots, which have raised questions about the technology's reliability and marketing practices [17][21]. - Industry experts express concerns about the sustainability of the humanoid robot market, with some investors withdrawing due to perceived overvaluation and lack of genuine technological advancement [22][23].