On August 10, Yushutech (688836.SH) launched its IPO on the STAR Market with a share price of 150.80 Yuan, issuing 40.4464 million shares and raising approximately 6.1 billion Yuan. The post-issue market capitalization is estimated at around 61 billion Yuan, corresponding to a diluted price-to-earnings ratio of 219.23 for 2025.
This IPO is significant due to its low estimated subscription rate of 0.02% to 0.03%, which is substantially lower than the 0.47% rate for Changxin Technology. Initial projections suggest that investors could see a profit exceeding 200,000 Yuan on the first day, with some estimates indicating a potential gain of about 350,000 Yuan based on average first-day increases for new STAR Market stocks.
Looking ahead, while some institutions have projected a valuation range of 30 billion to 45 billion Yuan, indicating a risk of share price decline, the current market sentiment remains optimistic. Yushutech's revenue is projected to reach 1.699 billion Yuan in 2025, with a net profit of 278 million Yuan, despite a forecasted 52.55% year-on-year decline in net profit for Q1 2026.
Editor's Note
Yushutech's IPO reflects the growing interest in humanoid robotics within the investment community. The elevated PE ratio indicates strong market expectations, despite potential short-term volatility in earnings. Investors should monitor the company's performance closely as it navigates its first year of mass production in the humanoid robot sector.
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