Unitree Robotics (Ticker: 688836) is launching its STAR Market IPO—going all in or nah? Unitree Robotics is a rare gem in embodied intelligence with 'high growth, high gross margin, and already profitable' metrics: projected revenue of ¥1.708 billion in 2025, a year-on-year growth of 335.36%, and net profit (excluding non-recurring items) of ¥600 million; over 5,500 humanoid robots shipped. But with an issue price of ¥150.80 corresponding to a market cap of ~¥61 billion and a PE ratio of 219x, the market has already priced in high growth expectations. Strategy-wise, you can participate in the IPO, but avoid blindly chasing after it post-listing. Focus on verifying orders, model implementation, gross margin, and cash flow. Pre-market quotes from platforms like Hyperliquid shouldn’t be treated as formal valuation anchors.