On the evening of August 6, "the first stock in humanoid robots" Zongye Technology Co., Ltd. disclosed the IPO issuance price and strategic placement results. Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. (DeepSeek) was allocated 933,399 shares, with an investment amount of approximately 141 million yuan at a price of 150.8 yuan per share. The shares will be locked for 36 months.

The announcement stated that the main strategic placement participants in this Zongye Technology offering include long-term investment institutions, large enterprises with strategic cooperation or long-term collaboration visions with the company, sub-companies of the Sci-Tech Innovation Board sponsor, as well as special asset management plans established by senior management and core employees of the company. Among them, DeepSeek, as a company with a strategic cooperative relationship with Zongye Technology, was allocated a number of shares accounting for 2.31% of the total issuance volume.

In addition to DeepSeek, Tencent's Shanghai Qishan Investment Co., Ltd. was allocated 903,290 shares, with an investment amount of approximately 136 million yuan. The lock-up period is 36 months from the date when Tencent Technology (Shanghai) Co., Ltd. first obtained shares in the issuer, and 12 months from the date of the company's initial public offering and listing. The later of the two dates shall prevail.

In terms of employee strategic placement, the Yuque Technology Employee No. 1 Asset Management Plan was allocated 1,356,100 shares, accounting for 3.35% of the total issuance volume, with a lock-up period of 12 months. The Yuque Technology Employee No. 2 Asset Management Plan was allocated 444,297 shares, accounting for 1.1% of the total issuance volume, with a lock-up period of 36 months. Among them, 159 core employees participated in the Employee No. 1 Asset Management Plan, and 12 senior managers and core employees participated in the Employee No. 2 Asset Management Plan.

According to the announcement, after the issuance, Zongye Technology's total capital will reach 404,464,340 shares. At a price of 150.8 yuan per share, the company's issuance market value is approximately 60.9 billion yuan. The expected total fundraising amount for this issuance is about 6.099 billion yuan, and the net proceeds after deducting issuance expenses are approximately 5.917 billion yuan.

The announcement also warns that the issue price corresponds to a 2025 diluted sales-to-price ratio of 35.89 times, which is higher than the average level of comparable companies in the same industry; the diluted price-to-earnings ratio calculated based on the lower of earnings before and after non-recurring gains and losses is 219.23 times, which is higher than the recent average static price-to-earnings ratio of the industry. Investors should pay attention to the risk of stock price fluctuations after listing.

As a benchmark case applying the pre-review mechanism, Zongye Technology's IPO was accepted on March 20, passed the review on June 1, and became effective on July 2, taking only over 100 days. The participation of institutions such as DeepSeek and Tencent in strategic placements also reflects the continued attention of the capital market to the embodied intelligence sector under the background of the integration of artificial intelligence and robotics industry.