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Shanghai Stock Exchange technology board where Unitree's IPO set a record retail oversubscription level for tech listings.
No evidence-backed relationships are recorded.
Eight months after a failed engine reignition destroyed its first attempt, LandSpace landed Zhuque-3's stainless-steel first stage in Gansu. The fix cycle is the story, not the milestone.
Perspective Coverage
3 publishersReality
The Hangzhou maker sold about a tenth of itself for roughly $900mn, with retail demand covering the offer more than 8,000 times. Most of what it ships is still quadrupeds.
Reality
Unitree is pricing at roughly 36 times revenue while Shein seeks under one times. China's primary market is re-rating sectors wholesale, not picking companies.
Reality
A roughly $9bn valuation on $253m of revenue, actual profits and 5,500 humanoids shipped. The 8,000x retail oversubscription hints at what buyers will actually pay.
Reality
Retail investors bid more than 5,000 times the shares on offer. The prospectus underneath shows adjusted quarterly profit down 52.55% and robot hands that still cannot work a full shift.
Reality