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DeepSeek Snaps Up 933K Shares in Humanoid Robot Maker's IPO

DeepSeek's Big Bet on Humanoid Robots

On the evening of August 6, Yushu Technology, often dubbed "the first stock in humanoid robots," finally unveiled its IPO pricing and strategic placement details. The move sent ripples through the investment community, especially with the revelation that DeepSeek—the AI research firm making waves in the tech world—had secured a significant stake.

Strategic Allocations: Who Got What?

According to the official announcement, Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. was allocated 933,399 shares at 150.8 yuan per share, totaling roughly 141 million yuan. These shares come with a 36-month lock-up period, signaling a long-term commitment from the AI heavyweight.

But DeepSeek wasn't alone in this strategic play. Tencent's Shanghai Qishan Investment Co., Ltd. also grabbed 903,290 shares, investing about 136 million yuan. Tencent's lock-up terms are a bit more complex: 36 months from when Tencent Technology (Shanghai) first acquired shares in the issuer, or 12 months from the IPO listing date—whichever comes later.

Employee participation was equally notable. The Yuque Technology Employee No. 1 Asset Management Plan took 1,356,100 shares (3.35% of the total issuance) with a 12-month lock-up, while the No. 2 Plan secured 444,297 shares (1.1%) with a 36-month lock-up. In total, 159 core employees joined the first plan, and 12 senior managers and core employees participated in the second.

Valuation and Fundraising: The Numbers Game

After the issuance, Yushu Technology's total capital will stand at 404,464,340 shares. At the offering price, the company's market value is approximately 60.9 billion yuan. The expected total fundraising is around 6.099 billion yuan, with net proceeds after expenses estimated at 5.917 billion yuan.

However, the announcement also carries a cautionary note. The issue price corresponds to a 2025 diluted sales-to-price ratio of 35.89 times—higher than the industry average. More strikingly, the diluted price-to-earnings ratio, calculated based on the lower of earnings before and after non-recurring gains and losses, is a whopping 219.23 times. That's well above the recent average static P/E ratio for the industry. Investors are warned to brace for potential stock price volatility post-listing.

A Fast-Track IPO and the Rise of Embodied AI

Yushu Technology's IPO journey has been remarkably swift. Accepted on March 20, it passed the review on June 1, and became effective on July 2—just over 100 days from start to finish. This fast-track process highlights the regulatory enthusiasm for innovative tech companies, particularly in the embodied intelligence sector.

The participation of DeepSeek and Tencent underscores the growing interest in AI and robotics integration. As the lines between artificial intelligence and physical automation blur, investors are betting big on companies that bridge the gap. DeepSeek's strategic placement, in particular, signals a vote of confidence in Yushu's future—and in the broader humanoid robot market.

Key Points

  • DeepSeek allocated 933,399 shares (2.31% of total issuance) at 150.8 yuan/share, investing ~141 million yuan.
  • Tencent's Qishan Investment secured 903,290 shares (~136 million yuan), with a dual lock-up period.
  • Employee plans took a combined 1.8 million shares, with varying lock-ups.
  • Post-IPO market value: ~60.9 billion yuan; total fundraising: ~6.099 billion yuan.
  • High valuation ratios (P/S 35.89x, P/E 219.23x) pose risks.
  • IPO process took just over 100 days, reflecting regulatory support for embodied AI.