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

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

On March 20, the Shanghai Stock Exchange officially accepted Yu Shu Technology’s application for an IPO on the STAR Market. For this IPO, Yu Shu Technology plans to issue no less than 40.04 million new shares, aiming to raise 4.202 billion yuan, all of which will be invested in core areas such as intelligent robot modeling research and development and main body development.

By 2025, Yu Shu Technology expects operating revenue and net profit attributable to shareholders after non-recurring gains and losses to be 1.708 billion yuan and 600 million yuan, respectively, representing increases of 3.35 times and 6.74 times year-on-year. In the fourth quarter of 2025, operating revenue and net profit attributable to shareholders after non-recurring gains and losses are projected to be 541 million yuan and 169 million yuan, respectively, with quarter-on-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, a year-on-year increase of 93.15% and a quarter-on-quarter increase of 23.14%.

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 and concentrated growth in sales revenue for quadruped robots and humanoid robots in the second quarter of 2025, with year-on-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 moderated in the third quarter, with quadruped robots growing 1.67 times year-on-year, similar to the growth rate in the first quarter of the same year; during the same period, humanoid robots grew 7.33 times year-on-year, continuing the fast growth trend. In the fourth quarter of 2025, projected sales revenue for quadruped robots and humanoid robots are 206.68 million yuan and 281.45 million yuan, respectively, representing year-on-year increases of 1.44 times and 3.81 times, and close to the second quarter revenue figures. Although the growth rates of quadruped and humanoid robot revenues gradually moderated in the third and fourth quarters, they still maintained rapid year-on-year growth.