宇树科技IPO（首次公开募股）的时间，终于定了！ 官方确定的进程是这样的： 目前，公司正积极推进IPO的相关准备工作。 根据IPO计划，公司预计将在2025年10月至12月之间向证券交易所提交申报文件，届时公司的相关经营数据将会正式披露。 与此同时，在这份声明中，宇树科技以2024年为例，也简要介绍了产品的收入结构（PS：具体数据将以后续IPO申报文件为准）—— 四足机器人、人形机器人以及零部件产品的销售额分别约占65%、30%和5%。 其中，大约80%的四足机器人被应用于科研、教育和消费领域，其余20%则用于检测、消防等工业领域；人形机器人则完全用于科研、教育和消费领域。 这则消息可以说是在机器人圈子里掀起了不小的关注，正如网友所说： 这是机器人领域最受期待的IPO之一了。 IPO，加速进行时 其实在这次官宣之前，宇树科技今年在资本化的进程上已经有了不少且频繁的动作。 例如早在今年的5月28日，公司完成股份制改革，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"。 当时的这个举动已然被不少人视为是上市的前奏。 紧接着，在6月份之际，宇树科技的注册资本从288.9万元大幅增至3.64亿元，增幅达1 ...

金磊 闻乐 发自 凹非寺 量子位 | 公众号 QbitAI 宇树科技IPO （首次公开募股）的时间，终于定了！ 官方确定的进程是这样的： 目前，公司正积极推进IPO的相关准备工作。 根据IPO计划，公司预计 将在2025年10月至12月之间 向证券交易所提交申报文件，届时公司的相关经营数据将会正式披露。 与此同时，在这份声明中，宇树科技以2024年为例，也简要介绍了产品的 收入结构 （PS：具体数据将以后续IPO申报文件为准）—— 四足机器人、人形机器人以及零部件产品的销售额分别约占65%、30%和5%。 其中，大约80%的四足机器人被应用于科研、教育和消费领域，其余20%则用于检测、消防等工业领域； 人形机器人则完全用于科研、教育和消费领域。 这则消息可以说是在机器人圈子里掀起了不小的关注，正如网友所说： 这是机器人领域最受期待的IPO之一了。 IPO，加速进行时 其实在这次官宣之前，宇树科技今年在资本化的进程上已经有了不少且频繁的动作。 例如早在今年的5月28日，公司完成股份制改革，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"。 当时的这个举动已然被不少人视为是上市的前奏。 紧接着，在6月 ...

Group 1 - The core issue involves a patent infringement lawsuit filed by Hangzhou Luweimei Daily Chemical Co., Ltd. against Hangzhou Yushu Technology Co., Ltd., scheduled for trial on August 26, 2025, at the Hangzhou Intermediate People's Court [1][4]. - Luweimei was established in June 2005 with a registered capital of 550,000 yuan, focusing on internet sales of food, agricultural products, and daily necessities [2][3]. - Luweimei has applied for patents including "an electronic dog" and "a simultaneous interpretation intelligent system," with the former already authorized [2][3]. Group 2 - Yushu Technology, founded on August 26, 2016, has a registered capital of 364 million yuan and is primarily engaged in the research, production, and sales of high-performance robots and robotic arms [6][7]. - This is the first patent-related lawsuit faced by Yushu Technology, which has previously encountered two lawsuits, one of which was a non-compete dispute that was later withdrawn [4][5]. - Yushu Technology has initiated the process for its initial public offering (IPO), with CITIC Securities acting as the advisory institution, and the advisory agreement was signed on July 7, 2025 [6][7].

Group 1 - The lawsuit between Hangzhou Luweimei Daily Chemical Co., Ltd. and Hangzhou Yushu Technology Co., Ltd. regarding the infringement of invention patent rights is set to be heard on August 26, 2025, at the Hangzhou Intermediate People's Court [1] - Luweimei was established in June 2005 with a registered capital of 550,000 yuan, and its business scope includes internet sales of food, agricultural products, and daily necessities [1] - Luweimei has applied for patents including "an electronic dog" and "a simultaneous interpretation system for meetings," with the "electronic dog" patent already authorized [1] Group 2 - Yushu Technology focuses on the independent research, development, production, and sales of high-performance quadruped/humanoid robots and dexterous robotic arms, having launched several series of quadruped robot products [1] - This is the first time Yushu Technology has faced a lawsuit related to invention patents, although it has encountered two lawsuits in total, with the first being a non-compete dispute that was later withdrawn [1]

近日，宇树科技启动IPO 辅导，并发布最新款人形机器人Unitree R1，标志着其商业化与资本化进程正 同步加速。 投资要点： 根据中国证监会官网显示，宇树科技有限公司已于2025 年7 月18 日完成首次公开发行股票并上市的辅 导备案登记，由中信证券担任辅导机构，辅导时间2025 年7 月-9 月。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，王兴兴直接持有公司23.8216%股权，并通过上海宇翼企业管理咨询合 伙企业（有限合伙）控制公司10.9414%股权，合计控制公司34.7630%股权。IPO 有望进一步拓宽宇树 科技的融资渠道，为高扭矩密度电机、轻量化材料、智能算法等研发注入资金。宇树作为标杆企业上 市，或将复制特斯拉对新能源车的带动效应，推动市场从"概念炒作"转向"业绩兑现"逻辑，宇树科技上 市后资金优势将挤压中小玩家，行业或将向"技术领先者"倾斜。对中国人形机器人行业而言，宇树科技 若成功上市将提升投资热度、进一步促进产业链协同，助力中国在全球竞争中保持领先。 7 月25 日，宇树科技正式发布第三款人形机器人Unitree R1，售价3.99 万元起，是当前宇树科技价格最 低的双足 ...

Core Viewpoint - The article discusses the upcoming IPO of Yushu Technology, a leading humanoid robotics company in China, founded by Wang Xingxing, highlighting the growing trend of embodied intelligence companies preparing for public offerings [2][3][5]. Company Overview - Yushu Technology, founded by Wang Xingxing, is recognized as a prominent player in the humanoid robotics sector, with a significant investor base poised to benefit from the company's IPO [4][38]. - The company has evolved from a small team to a workforce of approximately 1,000 employees, achieving annual revenues exceeding 1 billion RMB [21][15]. Founder Background - Wang Xingxing, born in Ningbo, Zhejiang, developed a passion for robotics during his university years, leading to the creation of innovative robotic products [8][12]. - His entrepreneurial journey began after leaving DJI to establish Yushu Technology, which has since launched several notable robotic products [14][16]. Funding Journey - Yushu Technology's early funding was challenging, with initial rejections from venture capitalists due to its early-stage status [23][24]. - The company secured its first significant investment in 2016, followed by multiple funding rounds, including a notable B++ round that valued the company at 8 billion RMB [30][32][35]. Market Trends - The article notes a surge in IPO activities among robotics companies, with Yushu Technology and other firms like Zhiyuan Robotics preparing for public offerings [39][42]. - The robotics sector is experiencing a competitive financing landscape, with several companies completing substantial funding rounds to support their growth [45][46]. Future Outlook - The anticipated IPO of Yushu Technology is seen as a critical milestone, with the potential to reshape the landscape of embodied intelligence in the market [48][49]. - The article emphasizes the urgency for companies in the robotics sector to go public as a means of survival and growth in a rapidly evolving industry [47][48].

Core Viewpoint - The article discusses the listing guidance for Hangzhou Yushu Technology Co., Ltd., indicating its preparation for an initial public offering (IPO) with the assistance of CITIC Securities as the guiding institution [2][4]. Company Overview - Hangzhou Yushu Technology Co., Ltd. was established on August 26, 2016, with a registered capital of 364.017906 million yuan [3][7]. - The company is primarily engaged in the manufacturing of computer, communication, and other electronic equipment, as well as general equipment manufacturing [3][7]. - The actual controller of the company is Wang Xingxing, who holds 23.8216% of the shares directly and controls an additional 10.9414% through a partnership, totaling 34.7630% [6][8]. Listing Guidance Details - The guidance agreement was signed on July 7, 2025, with CITIC Securities as the guiding institution, alongside Beijing Deheng Law Firm and Rongcheng Accounting Firm [4][5]. - The guidance process includes comprehensive training on legal knowledge and responsibilities related to public company operations, scheduled from July to September 2025 [5][8]. Financial Performance - Yushu Technology has reported annual revenues exceeding 1 billion yuan, maintaining profitability since 2020 [11][14]. - The company has completed 10 rounds of financing, with notable investors including Meituan, Sequoia China, and Tencent, achieving a pre-investment valuation of over 10 billion yuan [15][16]. Product and Market Position - Yushu Technology specializes in the research, development, production, and sales of high-performance quadruped and humanoid robots, having launched several product lines [12]. - In 2023, the company captured 69.75% of the global market share for quadruped robotic dogs and is recognized as the leading supplier of humanoid robots [13].

Core Viewpoint - Yuzhu Technology is officially preparing for its IPO, marking a significant milestone in its nine-year entrepreneurial journey, with a valuation exceeding 10 billion RMB and a strong backing from notable investors like Meituan, Tencent, and Alibaba [2][8][42]. Group 1: Company Overview - Yuzhu Technology was established on August 26, 2016, with a registered capital of 364.017906 million RMB [7]. - The company is primarily engaged in the manufacturing of computer, communication, and other electronic equipment [7]. - The actual controller and major shareholder, Wang Xingxing, holds 23.82% of the shares directly and controls a total of 34.76% through a partnership platform [5][7]. Group 2: Financial Performance - Yuzhu Technology has achieved annual revenue exceeding 1 billion RMB and has maintained profitability since 2020 [8]. - The company has completed 10 rounds of financing, with its latest valuation surpassing 12 billion RMB [42]. Group 3: IPO Preparation - Yuzhu Technology has filed for IPO guidance with the Zhejiang Securities Regulatory Bureau, indicating a formal step towards listing on the A-share market [3][4]. - The company aims to complete a comprehensive evaluation by October 2025, preparing the necessary documents for the IPO application [6][12]. Group 4: Market Position and Products - Yuzhu Technology has captured nearly 70% of the global quadruped robot market, showcasing its strong competitive edge [27]. - The company gained significant public attention with the launch of its humanoid robot H1, priced at 90,000 USD (approximately 650,000 RMB), making it accessible for many research institutions [30][41]. Group 5: Industry Trends - The field of embodied intelligence has seen a surge in investment opportunities, with 141 financing events reported by July 2025, compared to only 77 in the previous year [49][50]. - The market is currently witnessing a shift from technology exploration to industrial application, indicating a growing confidence among investors in the embodied intelligence sector [58].

Core Viewpoint - Hangzhou Yushu Technology Co., Ltd. has officially initiated its IPO counseling process, with CITIC Securities as the counseling institution, marking a significant step towards its public listing [1][3]. Company Overview - Hangzhou Yushu Technology was established on August 26, 2016, with a registered capital of 364 million yuan, and is classified under the C39 category of computer, communication, and other electronic equipment manufacturing [2][3]. - The controlling shareholder and actual controller of the company is Wang Xingxing, who directly holds 23.8216% of the shares and controls an additional 10.9414% through Shanghai Yuyi Enterprise Management Consulting Partnership, totaling 34.7630% [2][3]. IPO Counseling Process - The counseling agreement was signed on July 7, 2025, and the counseling will include comprehensive training on legal knowledge related to IPOs, ensuring that participants understand their responsibilities as a public company [2][3]. - The counseling institution will conduct a comprehensive assessment in October 2025 to determine if Yushu Technology meets the conditions for issuing and listing its shares [3]. Recent Developments - On June 18, 2025, Yushu Technology completed a capital increase from 2.889 million yuan to 364 million yuan, representing a 125-fold increase [4][5]. - The company has undergone a name change from Hangzhou Yushu Technology Co., Ltd. to Hangzhou Yushu Technology Co., Ltd. to align with its IPO preparations [3][4]. Financial Performance - Yushu Technology focuses on the research, development, production, and sales of high-performance quadruped and humanoid robots, achieving annual revenues exceeding 1 billion yuan [6]. - The company holds a 69.75% market share in global quadruped robot sales and ranks first in humanoid robot shipments as of 2023 [6]. - Yushu Technology has completed 10 rounds of financing, with notable investors including Meituan, Sequoia China, and Tencent, and its pre-IPO valuation exceeds 10 billion yuan [6][7].

Core Viewpoint - Yushu Technology is set to launch its IPO in 2025, aiming to submit its listing application to either the A-share main board or the Sci-Tech Innovation Board within the year, highlighting its growth and market potential in the robotics industry [1]. Group 1: Company Overview - Founded in 2016 by Wang Xingxing, Yushu Technology has developed core technologies for quadruped robots since 2013, with its XDog model causing a stir in the industry due to its low cost and high performance [2]. - The company has launched several successful products over the years, including the Laikago quadruped robot in 2017, the Aliengo in 2019, and the Go1 consumer robot in 2021, which broke market norms with a price point of around 10,000 yuan [2]. - Yushu has achieved 100% localization of core components, with its self-developed high-torque density motors costing only one-third of similar international products and its harmonic reducers being 60% cheaper than Japanese brands [2]. - The company has filed over 280 domestic and international patents, with 210 granted, establishing a strong technological moat in areas such as robot motion control algorithms and multi-modal perception systems [2]. Group 2: Valuation and Financial Performance - Prior to the IPO, Yushu Technology completed multiple rounds of strategic financing, with a post-investment valuation reaching 12 billion yuan after a C-round financing led by major industry players like China Mobile, Tencent, and Alibaba [3]. - The company has been profitable for four consecutive years, with revenues of 200 million yuan and a net profit of 10 million yuan in 2023, projected to grow to 400 million yuan in revenue and 70 million yuan in net profit in 2024, and expected to exceed 200 million yuan in net profit in 2025 [3]. - Yushu's profitability is notable in the generally loss-making robotics industry, supporting a 150% increase in its valuation compared to 2023 [3]. Group 3: Industry Landscape - The global robotics industry is transitioning from industrial automation to general-purpose humanoid robots, with the Chinese Ministry of Industry and Information Technology identifying humanoid robots as "disruptive products" [4]. - Market research predicts a compound annual growth rate of 33% for the domestic robotic dog market from 2024 to 2030, with the humanoid robot market expected to exceed 1 trillion yuan by 2030 [4]. - Yushu Technology differentiates itself from competitors like Tesla by adopting a "hardware cost reduction + consumer market penetration" strategy, rapidly capturing the C-end market through products like Go1 and G1 [4]. - The G1 robot has a daily rental price in the secondary leasing market reaching thousands of yuan, with orders scheduled until the fourth quarter of 2025 [4]. Group 4: Future Prospects and IPO Plans - Yushu Technology plans to use the funds raised from the IPO for the construction of an intelligent training center for humanoid robots, expansion of production capacity at its Lingang factory, and the establishment of global R&D centers [5]. - Based on a projected net profit of 200 million yuan in 2025, the company's valuation post-IPO could exceed 16 billion yuan, with some optimistic estimates reaching 30 billion yuan due to industry growth expectations [5]. - The timing of the IPO coincides with favorable policy changes in the Sci-Tech Innovation Board, which supports the listing of unprofitable tech companies, further enhancing Yushu's "hard tech" label [5].