Yushu Technology’s share price once dipped below 500 yuan per share, as investors who bought at the top stood on the peak of a high mountain and blew cold air.

Back then, it was a robot’s impressive backflip that won them over—thinking that was the future, worth staking real money on. But the future hadn’t arrived yet, and the account was halved before it did. The excitement ended, leaving only a string of shrinking numbers and a “wait a little longer” that couldn’t be spoken aloud.

But this round of drawdown didn’t really kill Yushu—it killed everyone’s overactive imagination that “tomorrow can be cashed in.” Capital markets always price the story first, and then come back around to demand answers from reality. And hard technology is precisely the least suited to being fast—it has to be debugged again and again, delivered batch after batch, and have costs driven down year after year. That process doesn’t win headlines, but only once it’s completed does the industry truly begin.

So it isn’t a bad thing for the bubble to burst. Once the “water” is squeezed out, mass production can finally speak; when valuations return to earth, the industry can truly start walking. The robot that falls in the noise today will, tomorrow, calmly enter factories—roll off the line, and get listed. Looking back over the past two decades, haven’t solar PV, power batteries, and new-energy vehicles all been first praised to the skies, then thrown into the mud, and finally climbed back out by production lines one by one?

As for the unrealized losses in the account—they are real, and they hurt. But robots will eventually enter factories and everyday life; this hasn’t become invalid just because a single falling K-line appeared.

What drops is the stock price, not the technology. Yushu and the robotics industry are still worth paying attention to!

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