Core Viewpoint - Unitree Robotics, a civil robotics company, plans to submit its IPO application between October and December 2023, following the completion of its counseling record in July 2023 [1][2][5]. Group 1: IPO Plans and Company Background - Unitree Robotics will submit its IPO application to the stock exchange in Q4 2023, with operational data to be disclosed at that time [2]. - The company focuses on high-performance general-purpose quadrupedal and humanoid robots, having launched several models since its establishment in 2016 [5]. - The controlling shareholder, Wang Xingxing, holds 34.763% of the company's shares [5]. Group 2: Product Sales and Market Application - In 2024, sales of quadrupedal robots, humanoid robots, and components are expected to account for approximately 65%, 30%, and 5% of total sales, respectively [2]. - About 80% of quadrupedal robots are used in research, education, and consumer fields, while the remaining 20% are applied in industrial sectors [2]. Group 3: Industry Outlook and Trends - Analysts maintain a positive long-term outlook for humanoid robots, viewing them as natural carriers of artificial intelligence [7]. - The market for humanoid robots is expected to expand significantly, with increasing demand across various applications, including education, industrial manufacturing, and commercial operations [8]. - Recent industry events have showcased diverse applications of robots, indicating a growing interest and potential for commercialization [8].

Core Insights - The robotics sector has shown positive performance in the first half of 2025, with nearly 90% of companies achieving profitability [1][3] - Revenue for 120 companies in the robotics sector reached 288.83 billion yuan, a year-on-year increase of 13.81%, with a net profit of 21.62 billion yuan, also up by 13.72% [1] - The second quarter of 2025 saw revenues of 153.24 billion yuan, reflecting a year-on-year growth of 14.65%, and a net profit of 11.37 billion yuan, up by 6.80% [1] Segment Performance - The fastest profit growth was observed in the thermal components and brain-related segments, while the joint assembly, motor, screw, and reducer segments showed stable and substantial profit growth [3] - Seven companies, including Zhengyu Industrial and Daye Co., saw net profit growth rates exceeding 100% in the first half of 2025, with Zhengyu Industrial achieving a remarkable 1133.26% growth in Q2 [3] Profitability and Cost Management - The average gross margin for the robotics sector in H1 2025 was 21.94%, with a net margin of 7.48% and a decreasing expense ratio of 7.22% [4] - In Q2 2025, the gross margin improved to 22.19%, while the net margin slightly decreased to 7.42%, and the expense ratio fell to 6.65% [4] - Core component segments exhibited the strongest profitability, with gross margins reaching 22.54% and net margins at 9.31% [4] Technological Advancements - The pace of technological iteration in robotics has accelerated, with significant advancements in components such as motors and reducers [5] - New materials like PEEK are increasingly used in leading robotic products, enhancing energy efficiency [5] - Innovations in design have led to improved freedom of movement and load capacity in robotic arms, as well as enhanced sensing capabilities in dexterous hands [5][6] Commercialization and Order Growth - The commercialization of robotics has progressed rapidly, with a significant expansion in order volumes [7] - Major contracts include a billion-yuan order from China Mobile and a record-breaking procurement project by UBTECH [7] - The collaboration within the robotics supply chain has deepened, with notable order totals exceeding 100 million yuan for certain companies [7] Investment Analysis - The second half of 2025 should focus on new technology iterations and component market trends, particularly in the automotive and 3C sectors [8][9] - Key players such as Tesla, Huawei, and ByteDance are expected to maintain competitive advantages due to their control over demand scenarios and hardware supply chains [8] - Attention should be given to the supply chain dynamics of Tesla and Zhiyuan, as well as the technological advancements in dexterous hands and motors [9]

Core Insights - The company has completed a small batch trial production of certain robotic products from the US-based K-SCALE company as of August 2025, with future production plans dependent on market feedback [1] Company Developments - The company is actively engaging in the production of robotic products, indicating a strategic move towards automation and technology integration [1] - The completion of the small batch trial suggests that the company is in the process of evaluating the viability and market acceptance of these products [1] Market Considerations - Future production decisions will be influenced by market feedback, highlighting the importance of consumer response in the company's operational strategy [1]

09月02日，A股三大股指全线收跌，上证指数下跌0.45%，深证成指下跌2.14%，创业板指下跌2.85%。主流宽基指数中，科创100指数下跌3.34%，跌幅相对 居前。全市场仅有约1,250余只股票上涨。 | 证券名称 | 日涨跌幅 | 今年以来 涨跌幅 | | --- | --- | --- | | 北证50 | 0.40% | 51.75% | | 中证A50 | -0.14% | 10.61% | | 上证指数 | -0.45% | 15.11% | | 沪深300 | -0.74% | 14.12% | | 中证500 | -2.09% | 21.59% | | 科创20 | -2.13% | 34.31% | | 深证成指 | -2.14% | 20.54% | | 中证1000 | -2.50% | 22.76% | | 科创综指 | -2.71% | 41.60% | | 创业板指 | -2.85% | 34.12% | | 创业板50 | -2.87% | 38.29% | | 科创100 | -3.34% | 45.24% | | West and the a latter of FINA ...

9月2日，在社交媒体平台认证的宇树科技账号"Unitree"发布声明称，"公司正积极推进首次公开募股 （IPO）的筹备工作"，并表示"预计将于10月至12月间向证券交易所提交上市申请文件，届时相关运营 数据将正式披露。"中国证券报记者致电宇树科技，确认该消息为官方发布内容。 声明披露了宇树科技营收结构。公司表示，以2024年为例（具体数据以后续IPO备案文件披露的信息为 准）：四足机器人、人形机器人和零部件产品的销售额分别约占总销售额的65%、30%和5%。其中，约 80%的四足机器人应用于科研、教育和消费领域，其余20%应用于巡检、消防等工业领域；人形机器人 全部应用于科研、教育和消费领域。 今年5月，宇树科技公司名称由杭州宇树科技有限公司变更为杭州宇树科技股份有限公司。7月18日，中 国证监会网站信息显示，宇树科技已开启上市辅导，中信证券为辅导机构。按照辅导工作安排，中信证 券将在今年10月至12月对公司是否达到发行上市条件进行综合评估，协助公司按相关规定准备首次公开 发行股票并上市申请文件。 辅导备案报告显示，宇树科技控股股东、实际控制人为王兴兴，合计控制公司34.7630%股权。 天眼查数据显示，宇树 ...

Core Viewpoint - Yushu Technology positions itself as a "civilian robotics company" and plans to submit its listing application to the stock exchange between October and December 2025, with operational data to be disclosed at that time [1][2]. Sales Breakdown - In 2024, the sales revenue from quadruped robots, humanoid robots, and component products is expected to account for approximately 65%, 30%, and 5% respectively. About 80% of quadruped robots are used in research, education, and consumer fields, while the remaining 20% are utilized in industrial applications such as inspection and firefighting. Humanoid robots are entirely focused on research, education, and consumer applications [2][3]. Market Focus - Only 13% of Yushu's revenue comes from industrial applications, with the majority derived from research, education, and consumer scenarios, including interaction and performance [3]. Product Development - Yushu Technology recently teased a new humanoid robot, standing 1.8 meters tall and featuring 31 degrees of freedom. The latest humanoid robot, R1, was released on July 25, with a starting price of 39,900 yuan and 26 joints [4]. The company has also applied for a patent related to a digital twin-based robot motion control method, enhancing the robot's ability to adapt to stage environments for improved performance in dance and complex stage presentations [4]. Product Lines - The product lines of Yushu Technology are primarily divided into quadruped robots and humanoid robots. Quadruped robots, including the Go, A, and B series, are designed for various applications such as industrial inspection, security rescue, entertainment, and educational research [5]. Humanoid robots include the H series, aimed at industrial applications with high load and precision, and the G series, which emphasizes flexibility and versatility for commercial services and home assistance [7].

瑞财经 刘治颖 据常春藤投资公众号消息，近日，智能割草机器人企业常州来牟科技有限公司（以下简 称：来牟科技）宣布完成数千万元人民币A轮融资，本轮由常春藤资本独家领投，戈壁创投、六脉资 本、天际资本、九合创投、兴富资本等联合投资。 此前公司已完成多轮融资，投资方包括九坤创投、李泽湘教授创立的XbotPark基金和NBT Capital（耐必 信）。本轮融资将用于北美市场渠道拓展、加速新品研发迭代及产能提升。 来牟科技成立于2022年，是一家面向欧美市场的智能庭院机器人企业。其核心产品LYMOW One智能割 草机器人以履带底盘、RTK+AI视觉导航、双刀6000RPM电机等创新，可日割7000㎡草坪，Kickstarter 众筹超726万美元。其产品自5月28日独立站上线，目前累计销售额已达1亿元人民币。公司已与比亚迪 合作代工，日产能150台，产品正批量出口北美。 创始人兼CEO高望书，毕业于香港科技大学，拥有深厚的机器人研发背景，曾是云鲸智能联合创始人兼 CTO，在知名消费电子品牌SharkNinja担任研发总监期间，成功主导打造了年销量突破300万台的北美 市场第一扫地机器人产品。 ...

Market Overview - On September 2, the A-share market saw a total of 55 stocks hitting the daily limit up, with 44 stocks remaining after excluding 11 ST stocks, resulting in a limit-up rate of 57.29% [1] Top Gainers - The stock with the highest limit-up order volume was Gongxiao Daji, with 1,098,200 hands, followed by Shanzi Gaoke (986,000 hands), Baiyin Youse (779,600 hands), and Zhaoxin Shares (501,000 hands) [2] - In terms of limit-up order funds, 16 stocks had order amounts exceeding 100 million yuan, with Tianpu Shares, Top Group, and Julun Intelligent leading at 1.06 billion yuan, 457 million yuan, and 398 million yuan respectively [2][3] Sector Highlights Robotics Sector - Multiple stocks in the robotics sector hit the limit up, including Top Group, Zhejiang Rongtai, Longxi Shares, Lushan New Materials, and Tail Shares [4] - Top Group is actively developing robotic body structure components and sensors, while Zhejiang Rongtai is expanding its humanoid robot product capacity [4] Precious Metals Sector - Baiyin Youse and Xibu Gold both saw limit-up, with Baiyin Youse producing 11,773 kg of gold in the first half of the year, a 73.31% increase year-on-year, and 270.54 tons of silver, a 20.49% increase [5][6] Industrial Machinery Sector - Stocks such as Huadong CNC and Qinchuan Machine Tool also hit the limit up, with Huadong CNC focusing on the R&D and production of CNC machine tools [7] Institutional Activity - Liou Shares saw a net buy of over 200 million yuan from institutions, with the top three net buying stocks being Julun Intelligent, Changchun Gaoxin, and Gongxiao Daji [8][9]

官宣启动IPO辅导近两个月后，宇树科技再透露最新上市动态。 9月2日，宇树科技在社交媒体上发帖称，预计将在10月至12月期间向证券交易所提交上市申请文件，届 时公司的相关运营数据将正式披露。 根据证监会网站7月18日消息，宇树科技已在浙江证监局办理辅导备案，并披露了首次公开发行股票并 上市辅导备案报告，保荐券商为中信证券。辅导备案报告显示，宇树科技成立日期为2016年8月26日， 注册资本3.64亿元，法定代表人为王兴兴。 若顺利实现IPO，谁将与王兴兴共享资本盛宴？ 深圳华强7月下旬回应称，该公司与宇树科技已建立合作关系，目前相关业务正处于推进阶段，规模有 待进一步提升。 此外，中际旭创也曾在互动平台回应称，公司未直接持有宇树科技股份，其参投的基金持有该公司部分 股份。 还有一些公司"搭上"宇树科技后，股价一度录得较大涨幅。2月下旬，宝通科技盘中股价一度涨近 18%。彼时，宝通科技常务副总裁陈希等拜访了宇树科技，双方就机器人在工业场景的应用展开深入交 流。 （文章来源：第一财经） 作为人形机器人赛道的明星企业，宇树科技获得多家知名投资机构的青睐。天眼查数据显示，2017年至 今，该公司已完成多轮融资。6月下 ...

Market Overview - A total of 44 stocks hit the daily limit up, while 40 stocks faced limit down, resulting in a sealing rate of 52% [1] - The market experienced fluctuations throughout the day, with the ChiNext index leading the decline [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.87 trillion yuan, an increase of 125 billion yuan compared to the previous trading day [1] - The Shanghai Composite Index fell by 0.45%, the Shenzhen Component Index dropped by 2.14%, and the ChiNext Index decreased by 2.85% [1] Stock Performance Analysis - The advancement rate for consecutive limit-up stocks decreased to 28.57%, with Tianpu Co., Ltd. achieving an 8-day limit-up streak [3] - Stocks such as Zhaoxin Co., Ltd. and Dexin Technology also showed notable performances with 4 and 3 consecutive limit-ups, respectively [3] - Low-priced stocks have gained attention, with Zhaoxin Co., Ltd. and Shanzi Gaoke both performing well [3][16] Sector Highlights - The banking, precious metals, robotics, and oil sectors showed the most significant gains, while sectors like CPO, cross-border payments, PCB, and semiconductors faced declines [1] - The photovoltaic industry saw a rebound due to rising prices of polysilicon, with major companies adjusting their prices upwards [5][24] - The solid-state battery sector remained active, driven by recent capital movements and production benefits [5][18] Gold and Precious Metals - Gold futures reached a historical high, exceeding $3,557.1 per ounce, influenced by expectations of interest rate cuts by the Federal Reserve [6][22] - Precious metals continued to lead the gains in the non-ferrous sector, with stocks like Western Gold and Silver Holdings achieving consecutive limit-ups [6][23] Robotics and AI - The industrial mother machine concept gained traction following the release of a high-quality standard system construction plan [7][20] - Tesla's emphasis on its Optimus robot project has heightened interest in the robotics sector, with several stocks experiencing significant gains [7][13] Solid-State Battery Developments - Recent capital operations in the solid-state battery sector have intensified, with companies like Huayu Automotive announcing acquisitions [18] Conclusion - The market is currently characterized by volatility, with various sectors experiencing mixed performances. The focus on low-priced stocks and emerging technologies like robotics and solid-state batteries indicates potential investment opportunities in these areas [1][5][7][18]