Monday kicks off with three new stocks simultaneously opening for online subscription. The upcoming week is notably busy for the new stock market. On August 10 alone, three companies will debut their IPOs together: Unitree Technology, dubbed the "first stock" in humanoid robotics, along with Green Control Drive, a leading domestic supplier of electric drive systems for new energy commercial vehicles, and Shuangying Group, a specialized and innovative full-chain automotive seat manufacturer.
Unitree Technology has set its IPO issue price at 150.80 yuan per share, corresponding to a diluted price-to-earnings ratio of 219.23 times for 2025 based on the lower of net profit before and after non-recurring gains and losses. The company plans to publicly offer 40.4464 million shares, representing 10.00% of the total post-issuance share capital, with an expected total fundraising of approximately 6.099 billion yuan. After deducting issuance expenses, the net proceeds are estimated at around 5.917 billion yuan. Based on the issue price and the post-issuance total share capital of 404.4643 million shares, the issue market capitalization is roughly 60.993 billion yuan. A research report from Galaxy Securities suggests that the listing of Unitree Technology could provide a valuation anchor for humanoid robot companies in the market, potentially driving greater attention to the commercialization progress and performance delivery of such brands. According to IDC, China's humanoid robot shipments in 2025 reached 14,400 units, accounting for 84.7% of global shipments, with projections for this year exceeding 62,500 units. Roland Berger forecasts that under a baseline scenario, the global humanoid robot market could reach $300 billion by 2035 and surpass $4 trillion by 2050. As Unitree Technology prepares to list on the Science and Technology Innovation Board (STAR Market), several other embodied intelligence targets are also rushing to go public. Yuejiang Technology's ChiNext listing application has already passed review; Leju Intelligent is applying for a ChiNext listing and is currently under inquiry; Yunshenchu is applying for a STAR Market listing, also under inquiry; additionally, Zhiyuan Robot has officially initiated its Hong Kong listing process, following its earlier acquisition of a controlling stake in STAR Market-listed company Shangwei New Materials, which was widely interpreted by the industry as preparation for a "backdoor listing."
The ChiNext-listed company Green Control Drive has set its IPO issue price at 8.50 yuan per share, with a price-to-earnings ratio of 27.56 times. This is higher than the industry's recent one-month static average P/E ratio of 22.93 times, as published by the China Securities Index, but lower than the average static P/E ratio of 39.31 times (excluding extreme values) for A-share peer companies in 2025, based on the lower of attributable net profit before and after non-recurring items. The company is offering 68.3412 million shares, representing approximately 15.00% of the total post-issuance share capital, with an expected total fundraising of 580 million yuan. After deducting issuance expenses, the net proceeds are expected to be 515 million yuan. The online subscription limit is 9,500 shares, making the new stock participation threshold relatively low for retail investors.
The Beijing Stock Exchange-listed company Shuangying Group has set its IPO issue price at 11.13 yuan per share, with a P/E ratio of 12.99 times. Eligible investors with trading authorization for the Beijing Stock Exchange can participate in the online subscription, which requires full payment of subscription funds at the time of application.
Additionally, the STAR Market-listed company Gaoke Technology will open for subscription on August 14. The company is a leading domestic enterprise in precision fluid control, specializing in the research, development, production, and sales of key control components and related equipment in this field. It has established close partnerships with companies such as Luxshare Precision, Foxconn, AAC Technologies, CATL, BYD, and Jinko Energy. Gaoke Technology is publicly offering 24.9877 million shares, though the issue price has not yet been announced.
Comments