超120亿元估值，宇树有望成科创板市值新龙头

Core Viewpoint - Yushu Technology has initiated the IPO counseling process, with a high probability of listing on the Sci-Tech Innovation Board (STAR Market) in A-shares, potentially becoming a new market leader with a valuation exceeding 12 billion yuan [2][3]. Group 1: IPO Process and Market Position - Yushu Technology is expected to utilize the newly introduced IPO pre-review mechanism on the STAR Market, which could expedite its listing process [8]. - The company has a strong backing from top-tier intermediaries, including CITIC Securities, which is a leading underwriter in the industry, and other reputable firms providing accounting and legal services [5][23][25]. - The company’s current valuation and profitability position it favorably compared to many other listed robotics firms, which often report losses [17]. Group 2: Financial Performance and Orders - Yushu Technology's revenue surpassed 1.75 billion yuan, with a net profit reaching 70 million yuan in 2024, indicating strong financial health [15][17]. - The company has secured approximately 30 new orders by July 2025, reflecting a year-on-year growth of over 50% in its order volume [19]. - Notable contracts include a significant procurement project from China Mobile worth 46.05 million yuan, marking a major milestone in the domestic humanoid robotics sector [19]. Group 3: Competitive Landscape and Challenges - Despite its success, Yushu Technology faces challenges such as declining rental prices for its robots and competition from major players like Huawei, which is actively developing its robotics business [20][21]. - The company’s rental prices have decreased from 10,000 yuan to around 3,000 yuan, indicating increased supply and market pressure [20]. - The presence of strong competitors in the robotics field could pose future challenges for Yushu Technology as the market evolves [20].