Unitree Technology concept stocks surge across the board, Jinfeng Technology hits the daily limit, Wolong Electric Drive approaches the daily limit.

(Source: Caixin)

On March 20, the Shanghai Stock Exchange officially accepted Yu Shu Technology’s Sci-Tech Innovation Board IPO application. For this IPO, Yu Shu Technology plans to issue no less than 40.0464 million new shares, aiming to raise 4.202 billion yuan, all of which will be invested in core areas such as intelligent robot model development and main body research.

On March 23, Yu Shu Technology concept stocks surged across the board, with Jinfeng Technology (600143.SH) and Zhongda Lide (002896.SZ) hitting the daily limit, Wolong Electric Drive (600580.SH) approaching the limit, and Changsheng Bearing (300718.SZ) rising over 8%.

On March 20, the Shanghai Stock Exchange officially accepted Yu Shu Technology’s Sci-Tech Innovation Board IPO application. For this IPO, Yu Shu Technology plans to issue no less than 40.0464 million new shares, aiming to raise 4.202 billion yuan, all of which will be invested in core areas such as intelligent robot model development and main body research.

By 2025, Yu Shu Technology expects operating revenue and net profit attributable to parent (excluding non-recurring gains and losses) to be 1.708 billion yuan and 600 million yuan, respectively, representing year-over-year growth of 3.35 times and 6.74 times. In the fourth quarter of 2025, operating revenue and net profit attributable to parent are projected to be 541 million yuan and 169 million yuan, respectively, with quarter-over-quarter growth of 38.16% and 33.24%. The company’s annual performance is expected to maintain a strong growth trend. As of the end of December 2025, the company’s order backlog was 282 million yuan, up 93.15% year-over-year and 23.14% quarter-over-quarter.

In its reply letter, Yu Shu Technology stated that in the first half of 2025, benefiting from the rapid nationwide increase in brand awareness, the company’s product orders experienced quick growth in the short term. Additionally, the increase in orders affected delivery cycles, leading to a rapid surge in sales revenue for quadruped robots and humanoid robots in the second quarter of 2025, with year-over-year growth rates of 3.90 times and 19.58 times, respectively.

In the second half of 2025, as market enthusiasm waned, the rapid growth trend of quadruped and humanoid robots resumed in the third quarter. Quadruped robots grew 1.67 times year-over-year, similar to the growth rate in the first quarter of the same year; during the same period, humanoid robots increased 7.33 times, continuing a fast growth trend. In the fourth quarter of 2025, projected sales revenue for quadruped robots and humanoid robots are 206.6789 million yuan and 281.4498 million yuan, respectively, representing year-over-year increases of 1.44 times and 3.81 times, and are close to the revenue figures in the second quarter. Although the growth rates of revenue for quadruped and humanoid robots gradually slowed in the third and fourth quarters, they still maintained rapid year-over-year growth.