Unitree Robotics IPO Raises $850M at 219x P/E, Meituan Tops External Holdings

Unitree Robotics launches IPO at 150.80 yuan/share, raising ~6.1B yuan with a 219.23x P/E ratio. Meituan and Sequoia China emerge as largest external shareholders, while DJI missed out on potential gains.

Woofun AI reports that Unitree Robotics initiated its share subscription process on August 10, setting the issue price at 150.80 yuan per share. This valuation establishes a post-issuance market capitalization of approximately 60.993 billion yuan, with total proceeds nearing 6.1 billion yuan. The offering carries a P/E ratio of 219.23 times, significantly exceeding the industry average of 38.56 times. Meituan holds 9.65% of shares via subsidiaries, ranking as the largest external institutional shareholder, followed by Sequoia China with 7.11%.

Other notable holders include Matrix Partners (5.45%), Shunwei Capital (4.42%), and CITIC Securities (4.49%). Strategic placements include 933,400 shares to DeepSeek and 903,300 shares to Tencent's Shanghai Qishan Investment. CITIC Securities, acting as sole sponsor, will receive roughly 145 million yuan in fees and acquire 808,900 shares through follow-on investment. Unitree Robotics has issued a warning regarding the risk of stock price declines due to the elevated P/E ratio relative to industry peers. The deadline for settling subscription payments is August 12.