Unitree IPO: 219x PE

SG Visual Research 图解研报

$宇树科技-W(688836)$

Unitree went public.

Robots rang the bell.

Valuation went to space.

Issue PE: 219x.

Industry reference: 38.56x.

The funnier part?

2025 R&D expense: about RMB 145m.

LEGO, Bandai Namco and Mattel all spent far more on R&D.

So the market question is simple:

Is this the future of embodied AI,

or did a robot just walk into a toy-store joke?

For discussion only. Not investment advice.

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

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