Group 1 - The core point of the article is that Yushu Technology Co., Ltd. has completed its IPO counseling work, which is expected to be one of the most notable tech IPOs in recent years [1][3]. - The counseling was led by CITIC Securities with a team of 24 members, taking 132 days from the signing of the counseling agreement to completion [3]. - The counseling report indicates that the team assisted the company in refining its fundraising investment project plan to align with future development needs [6]. Group 2 - Yushu Technology is a well-known startup in the robotics sector, focusing on the research, production, and sales of high-performance quadruped robots for both consumer and industrial applications [8]. - The company was founded in 2016 by Wang Xingxing, who announced that the annual revenue has surpassed 1 billion yuan this year [8]. - As of the report date, the company has established a complete corporate governance system, meeting the requirements for listed companies, including the appointment of three independent directors and the formation of various committees [6]. Group 3 - Yushu Technology plans to submit its listing application documents to the stock exchange between October and December 2025, at which point relevant operational data will be disclosed [7].

Group 1: Market Overview - The US tech IPO market shows signs of recovery after a prolonged slump, but performance varies significantly among companies [1] - StubHub's IPO was disappointing, with its stock price dropping 21% from the IPO price of $23.50 to $18.46, marking three consecutive days of decline [1][2] - StubHub's market capitalization has decreased from $8.6 billion at IPO to $6.8 billion [2] Group 2: StubHub Financial Performance - StubHub's revenue grew by 10% year-on-year to $397.6 million in Q1, but net losses widened to $35.9 million compared to $29.7 million in the same period last year [2] - The CEO indicated that new transparent pricing regulations in the US will have a "one-time impact" on the company's finances [2] - The Federal Trade Commission (FTC) has filed a lawsuit against StubHub's competitor, Live Nation, raising concerns about regulatory scrutiny in the online ticketing industry [2] Group 3: Comparison with Other Companies - In contrast to StubHub, other recently listed companies like Klarna Group, Figma Inc, Circle, and Netskope have provided substantial returns to early investors [2] - Pattern Group, another new listing, saw its stock rise over 11% on its first day, closing at $15.63 with a market cap of approximately $2.5 billion [2] Group 4: Pattern Group Overview - Pattern Group raised $300 million in its IPO, with half of the funds going to investors [3] - The company, founded in 2013, is the second-largest Amazon seller in the US, providing sales optimization services across various e-commerce platforms [3] - In Q2, Pattern's revenue increased by 39% year-on-year to $598.2 million, with a net profit of $16.4 million, up from $11.3 million the previous year [3] - 94% of Pattern's revenue comes from sales on Amazon, indicating a significant dependency on the platform, which poses a potential risk if Amazon changes its policies [3]