Unitree Technology, hailed as the first humanoid robot stock on the A-share market, officially began trading on the STAR Market this morning. The opening price surged to 1,100 yuan per share, marking a 629.44% increase from its issue price and pushing the company's market valuation to an impressive 444.911 billion yuan.

This stellar debut also marks a rewarding moment for Unitree's backers. According to available data, the Meituan-affiliated entities stand as the largest external shareholders, holding a combined stake of approximately 35.1236 million shares through Hanhai Information, Chengdu Longzhu, and Galaxy Z. At the current opening price, these holdings represent a paper gain exceeding 33.3 billion yuan.

In addition, funds associated with Liang Wenfeng, including DeepSeek, High-Flyer Quant, and Nine Chapters Asset Management, secured roughly 1.1916 million shares through strategic placement and offline subscription, yielding a paper profit of more than 1.1 billion yuan. Meanwhile, Astrend IV, an affiliate of Shunwei Capital founded by Lei Jun, holds 16.106 million shares, translating to a paper gain exceeding 15.2 billion yuan.

In a twist of fate, DJI, the former employer of Unitree's founder Wang Xingxing, is facing a significant missed opportunity. Back in 2018, a DJI-affiliated fund planned to invest 10.1286 million yuan for roughly 17% of Unitree's shares. While the business registration was completed, the capital contribution was never paid in, and the investment was exited through a capital reduction process in 2019. If that investment had remained in place and been held to this day, its value at the opening price would have exceeded 25 billion yuan.