A-share subscription | Yushu Technology (688836.SH) opens for subscription, with the company's humanoid Siasun Robot & Automation achieving the highest global shipment volume in 2025.

On August 10, Yushu Technology (688836.SH) began its subscription, with an issue price of 150.8 yuan per share and a subscription limit of 0.6 million shares, belonging to the Shanghai Stock Exchange, and CITIC SEC as its sponsoring institution. According to the prospectus, Yushu Technology is a world-renowned and internationally leading high-performance general-purpose Siasun Robot & Automation company, focusing on the research, production, and sales of high-performance general-purpose humanoid Siasun Robot & Automation, quadrupedal Siasun Robot & Automation, Siasun Robot & Automation components, and embodied intelligence models. The company has been the first in the global market to achieve the public sale and industry application of high-performance quadrupedal Siasun Robot & Automation, with recent global sales of high-performance general-purpose humanoid Siasun Robot & Automation and quadrupedal Siasun Robot & Automation maintaining a leading position. The company builds a Siasun Robot & Automation product ecosystem through technological innovation, and its humanoid and quadrupedal Siasun Robot & Automation are widely used by many renowned domestic and international universities, research institutions, technology companies, and global developers, especially gaining high recognition in overseas markets. With a leading global market share and continuous breakthroughs in technological innovation, the company has driven advances in the industry and the industrialization process of high-performance general-purpose Siasun Robot & Automation. The company places great emphasis on independent research and development and technological innovation. While continuously iterating on R&D, enhancing humanoid Siasun Robot & Automation and quadrupedal Siasun Robot & Automation core products, it has developed core model algorithms for embodied intelligence, reinforcement learning, motion control, and various intelligent systems, including heat management, energy management, motor drives, as well as core components like high-performance motors, reducers, dexterous hands, laser radars, and various sensors. Yushu Technology adheres to fully self-researched core technologies for general-purpose Siasun Robot & Automation, continually enriching its product matrix, leading innovation and large-scale implementation in the high-performance general-purpose Siasun Robot & Automation sector. It has secured major shares in the global markets for quadrupedal and humanoid Siasun Robot & Automation, particularly gaining high visibility and market share in overseas markets. During the reporting period, the company's total sales of quadrupedal Siasun Robot & Automation exceeded 33,000 units, establishing its advantageous position in the global quadrupedal Siasun Robot & Automation market. Furthermore, since launching its first self-developed humanoid Siasun Robot & Automation H1 in 2023 and the medium-sized humanoid Siasun Robot & Automation G1 in 2024, the sales of its humanoid Siasun Robot & Automation products have experienced rapid growth. By 2025, the shipment of humanoid Siasun Robot & Automation has surpassed 5,500 units (purely humanoid, excluding wheeled dual-arm Siasun Robot & Automation), ranking first globally in shipments, demonstrating the companys competitive advantage driven by its core self-research in the general-purpose Siasun Robot & Automation field. Since 2024, the companys motion control and cluster scheduling performance for humanoid Siasun Robot & Automation has steadily improved. Following the launch of fully-sized humanoid Siasun Robot & Automation automatic cluster performances in 2024, in early 2025, 16 H1 humanoid Siasun Robot & Automation participated in the CCTV Spring Festival Gala dance performance "Yang BOT" using an all-AI-driven clustering method. In March 2025, G1 humanoid Siasun Robot & Automation achieved electric-driven sideways flips in place, setting a new industry record. In May of the same year, G1 humanoid Siasun Robot & Automation became the only participating model in the "CMG World Siasun Robot & Automation League Series" mech fighting arena competition, opening up a new realm in global humanoid Siasun Robot & Automation combat sports. In August, at the first World Siasun Robot & Automation Games, H1 and G1 humanoid Siasun Robot & Automation performed excellently, with H1 winning first place in the 1,500-meter run, the 400-meter run, and the 4100 meter relay, while G1 won first place in the 100-meter obstacle race with a time of 33.71 seconds, amassing a total of 11 medals, the highest number of gold medals and total medals awarded to any company, fully showcasing the motion performance and reliability advantages of the company's products in high-dynamic tasks. By early 2026, the company once again set a technology benchmark for humanoid Siasun Robot & Automation with the fully autonomous cluster-controlled martial arts performance "Wu BOT," with 24 G1 and 1 H2 Siasun Robot & Automation demonstrating millisecond-level coordination in high-speed parkour and drunken boxing practice, breaking multiple global records in continuous trick flipping and parkour. Financially, in 2023, 2024, and 2025, Yushu Technologys operating revenues were approximately 159 million yuan, 393 million yuan, and 1.699 billion yuan respectively. During the same period, the net profits were approximately -11.1451 million yuan, 95.4747 million yuan, and 278 million yuan respectively.