After Yushu's listing, the stock continued to fall—how should its valuation be priced?
This run for Yushu Technology after going public is perfectly in line with the hype patterns of hard-tech stocks (688836.SH)
On its first day it surged to 1,100 yuan, and its market cap jumped past 400 billion—an explosion of capital driven by excitement around embodied intelligence. Add to that the lack of price up/down limits at the start of trading and a relatively small float, and once money pushed in, it shot straight up
From 1,100 yuan down to around 600, it looks like it was cut in half. But compared with the 150 yuan issue price, it’s still up threefold. This isn’t a collapse—it's the market squeezing out the emotional bubble and resetting the valuation anchor
The key controversy now is how to match valuation
▶️ Earnings have support, but the scenarios are somewhat narrow
In the first half of the year, revenue was 1.15 billion yuan and net profit was 270 million yuan—strong cash-generation ability. However, the main buyers right now are mostly research institutes and universities. Whether it can truly cross over into large-scale deployment in the industrial and consumer segments still needs verification
▶️ Valuation is high, and digestion depends on growth
Even if you calculate based on the market cap after the pullback, the P/E ratio is still several hundred times. What the market is pricing in is a premium for future imagination. If the growth rate of commercialization orders doesn’t keep up, it could take a very long time to digest an overvalued figure
🤔 Outlook and predictions
In the short term, the stock price will likely enter a period of consolidation and base-building, waiting for turnover among floating shares to be sufficient and for sentiment to return to rationality
In the medium term, watch two indicators:
First, whether it can win large-scale industrial orders from automakers or logistics giants. Second, whether it can leverage its extreme cost-control capabilities to undercut industry prices the way DJI did years ago—using scale effects to quickly close the gap with the overvaluation
For investors, squeezing out the bubble of first-day mania is a good thing. It’s safer to wait until the valuation falls into a safe range and you can clearly see the commercialization rollout rhythm before taking action
DYOR
#宇树科技 $UNITREE
This run for Yushu Technology after going public is perfectly in line with the hype patterns of hard-tech stocks (688836.SH)
On its first day it surged to 1,100 yuan, and its market cap jumped past 400 billion—an explosion of capital driven by excitement around embodied intelligence. Add to that the lack of price up/down limits at the start of trading and a relatively small float, and once money pushed in, it shot straight up
From 1,100 yuan down to around 600, it looks like it was cut in half. But compared with the 150 yuan issue price, it’s still up threefold. This isn’t a collapse—it's the market squeezing out the emotional bubble and resetting the valuation anchor
The key controversy now is how to match valuation
▶️ Earnings have support, but the scenarios are somewhat narrow
In the first half of the year, revenue was 1.15 billion yuan and net profit was 270 million yuan—strong cash-generation ability. However, the main buyers right now are mostly research institutes and universities. Whether it can truly cross over into large-scale deployment in the industrial and consumer segments still needs verification
▶️ Valuation is high, and digestion depends on growth
Even if you calculate based on the market cap after the pullback, the P/E ratio is still several hundred times. What the market is pricing in is a premium for future imagination. If the growth rate of commercialization orders doesn’t keep up, it could take a very long time to digest an overvalued figure
🤔 Outlook and predictions
In the short term, the stock price will likely enter a period of consolidation and base-building, waiting for turnover among floating shares to be sufficient and for sentiment to return to rationality
In the medium term, watch two indicators:
First, whether it can win large-scale industrial orders from automakers or logistics giants. Second, whether it can leverage its extreme cost-control capabilities to undercut industry prices the way DJI did years ago—using scale effects to quickly close the gap with the overvaluation
For investors, squeezing out the bubble of first-day mania is a good thing. It’s safer to wait until the valuation falls into a safe range and you can clearly see the commercialization rollout rhythm before taking action
DYOR
#宇树科技 $UNITREE
