Yushu Technology Co., Ltd. has announced the official schedule for its STAR Market IPO online roadshow, set to take place on August 7 from 14:00 to 17:00, according to a company filing released on August 5.
Investors will be able to participate in the interactive Q&A session through two platforms: the Shanghai Stock Exchange Roadshow Center and China Securities Network. The roadshow panel includes company management and representatives from the lead underwriter, CITIC Securities, offering attendees the chance to inquire about business operations, robot development, fundraising utilization, and industry outlook. Complete prospectus materials are available on the Shanghai Stock Exchange's official website.
The issuance plan has been fully finalized, with the company planning to issue 4,044,434 new shares, representing 10% of the total post-issuance share capital. The distribution is divided into three channels: strategic placement, offline institutional bookbuilding, and online retail subscription. The initial strategic placement accounts for 20% of the total offering. After deducting the strategic portion, the initial offline issuance represents 80%, and the initial online issuance accounts for 20%. A clawback mechanism will be triggered based on subscription demand to adjust the allocation.
The complete timeline includes: offline institutional preliminary inquiry commenced on August 5; the online roadshow and issuance announcement scheduled for August 7; simultaneous online and offline new share subscription on August 10; and investors must complete full subscription payment by August 12. Retail investors participating in the IPO must have their STAR Market trading authorization activated in advance.
Yushu Technology Co., Ltd. is widely recognized as the first humanoid robot stock on the market and stands out as a rare profitable player in the sector. The company reported full-year 2025 revenue of 1.708 billion yuan, representing a substantial 335.36% year-on-year increase, while non-GAAP net profit surpassed 600 million yuan, an increase of over 674%. In the same year, the company achieved the world's highest humanoid robot shipments, with products sold to more than 40 countries globally, and overseas revenue consistently accounting for over 40% of total revenue.
The company's core product lines include quadruped robotic dogs and humanoid robots. Quadruped models are primarily used in industrial inspection, emergency rescue, and laboratory research, while humanoid robots serve commercial exhibitions and educational scenarios. By 2025, humanoid robot revenue had surpassed quadruped robot revenue, becoming the key growth driver.
The total IPO proceeds amount to 4.202 billion yuan, with over 80% allocated to research and development. The funds are primarily directed toward four major projects: embodied intelligence large model development, robot body iteration, new product development, and intelligent production base expansion. Upon completion, the expansion will significantly boost annual production capacity for both humanoid and quadruped robots, alleviating order delivery pressure.