Unitree Robotics' final issue price is set at 150.80 RMB/share. For the STAR Market, one lot equals 500 shares, requiring a payment of approximately 75,400 RMB. Meanwhile, the pre-market price for Unitree on Hyperliquid has already reached 85.4U. Based on the previous exchange rate, 85.4U is roughly equivalent to 576.45 RMB/share: ▫️ Theoretical price difference per share: approximately 424.98 RMB ▫️ Theoretical value of one lot: approximately 288,200 RMB ▫️ Payment cost for one lot: approximately 75,400 RMB ▫️ Theoretical profit per lot: approximately 212,800 RMB Converted to market cap: ▫️ Unitree's issuance market cap: approximately 61 billion RMB ▫️ Hyperliquid's 85.4U corresponding market cap: approximately 232.2 billion RMB ▫️ Compared to the issuance market cap, the pre-market price already reflects a premium of approximately 3.81x. Last time, the pre-market price for ChangXin ended up being relatively close to the final direction. This time, Unitree's pre-market premium is even more exaggerated, but of course, the difficulty of securing a lot is much higher. ChangXin issued 6.688 billion shares back then, while Unitree is only issuing 40.44 million shares this time. On one hand, we have the strongest emotional symbol in the robotics sector; on the other, an extremely low supply of issued shares. Looks like the A12 newcomers will be going all-in again. Also, check out @predictdotfun's prediction: "Unitree Robotics (宇树科技) IPO closing market cap higher than ___?" The market isn't just giving YES transaction prices; it's also reflecting the implied probabilities for different market cap levels: ▫️ Closing market cap >100 billion: YES ~98% ▫️ >120 billion: YES ~98% ▫️ >150 billion: YES ~95% ▫️ >180 billion: YES ~84% ▫️ >200 billion: YES ~71% ▫️ >250 billion: YES ~39% This market is super interesting. Between 100–150 billion, the market has essentially priced it as a high-probability event. The real divergence starts at 180 billion; 200 billion is where Predict's forecast market intersects with Hyperliquid's pre-market anchor point. This is also where the market begins seriously debating whether the high valuation can be realized. Personally, I think YES below 150 billion still has a relatively thick safety cushion. Given the current pre-market valuation of approximately 232.2 billion, there’s clearly still a significant expectation gap below 150 billion. Pre-market prices don’t equal the actual trading price after listing, and prediction market prices will also fluctuate. Just my personal observations, not investment advice. DYOR.