Yue Shu Technology (will list on the Sci-Tech Innovation Board on August 19, with an issue price of 150.80 yuan per share, corresponding to a post-issue market value of approximately 60.993 billion yuan, and a price-to-earnings ratio of 219.23 times, significantly higher than the industry average.

The company issued 40.4464 million shares, accounting for 10% of the total share capital after the issue, and is expected to raise about 6.099 billion yuan. The final winning rate for online issuance was only 0.01809759%, making it one of the most difficult new shares to win in the history of the Sci-Tech Innovation Board.

Looking at performance, Yue Shu Technology's revenue is expected to be about 1.7 billion yuan in 2025, and its net profit attributable to shareholders, excluding extraordinary items, is 591 million yuan. Calculating based on the post-issue market value, the static price-to-earnings ratio exceeds 100 times, indicating that the current valuation already includes high expectations for its future growth. Before, China Construction Securities estimated a market value of about 109 billion yuan based on a target price-to-sales ratio of 32 times for 2026; Guoxin Securities believes that the high valuation means the company needs to achieve significantly higher growth than the industry average in the coming years to justify the current pricing.

There is still a higher expectation for its long-term potential. Some industry insiders believe that as the humanoid robot industry enters an accelerated phase, Yue Shu Technology's market value may even reach 200 billion yuan after listing. As the first A-share stock in the humanoid robot sector, Yue Shu Technology's listing will also provide an important secondary market pricing benchmark for the embodied intelligence industry.