Unitree IPO: 219x PE
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.
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