As IPO activity among robotics industry chain companies accelerates, Shoucheng Holdings (697.HK)’s earlier investment layout around embodied intelligence and the robotics sector is entering a new stage of capital-market pricing and industrial value validation. On May 18, information from the Shanghai Stock Exchange showed that Unitree Robotics’ application for an initial public offering has entered the review process. Meanwhile, operating data disclosed in the STAR Market IPO materials of Hangzhou Yunshenchu Technology Co., Ltd. (DEEP Robotics) further signaled an acceleration in the commercialization of the robotics industry.
According to the prospectus, DEEP Robotics recorded revenue of RMB340 million in 2025, representing significant growth from RMB103 million in 2024. Its cumulative research and development investment over the past three years accounted for 31.52% of cumulative revenue over the same period. In 2025, net profit attributable to shareholders of the parent company reached RMB28.684 million, compared with a net loss of RMB13.30 million in 2024, marking a return to profitability. These figures indicate that some robotics companies are gradually moving from technology research and development and use-case exploration toward revenue expansion and profit improvement.
For Shoucheng Holdings, the IPO progress of leading robotics companies such as Unitree Robotics and DEEP Robotics means that its earlier industrial investments in embodied intelligence and robotics are moving from primary-market deployment into the stage of capital-market pricing and value validation. Public information shows that, through the industrial funds it manages, Shoucheng Holdings has invested more than RMB2 billion cumulatively across the broader robotics industry chain, covering more than 20 companies, including Unitree Robotics, Noetix Robotics, Galbot, DEEP Robotics, Booster Robotics and Galaxea. As related companies file for listing or enter the review process, revenue scale, R&D intensity, profit inflection points and industrialization capabilities are beginning to be quantified, making the valuation benchmarks for Shoucheng Holdings’ relevant assets clearer.
Overall, the acceptance of Unitree Robotics’ IPO application and the improvement in DEEP Robotics’ operating data provide clearer phased validation for Shoucheng Holdings’ robotics industry investments. As investee companies successively enter the stages of capital-market review and operating delivery, the value of Shoucheng Holdings’ robotics industry chain layout is expected to become more apparent and generate sustained incremental contributions in investment returns, cross-scenario synergies and industrial operation capabilities.