Serenity: Unitree Robotics' IPO May Boost Robotics Sector Valuation, Supply Chain Firms Like Leader Harmonic Drive to Benefit

Unitree’s pre-IPO perpetual contract on Trade.xyz has surged past $74, hitting a new all-time high. The contract is now priced at $74.66, marking a more than 6% gain in the past 24 hours. Earlier reports confirmed that Unitree set its IPO offering price at RMB 150.80 per share, approximately RMB 104 higher than the prior estimated IPO price.

According to Bloomberg, Alphabet (GOOG), the parent company of Google, is seeking to raise up to $25 billion through a bond issuance.

Goldman Sachs’ TMT team said both SanDisk and Western Digital fell in after-hours trading, despite posting strong quarterly results. The market focus was not on the quarterly figures themselves, but on the fact that buyer expectations were already elevated ahead of the earnings release. SanDisk beat consensus estimates on revenue, gross margin and earnings per share (EPS), but its third-quarter revenue guidance was slightly below market expectations, while its EPS guidance was roughly in line. Against the backdrop of a notable prior run-up in share prices, the earnings results triggered some profit-taking. More positive factors: SanDisk has secured multi-year customer supply agreements covering over 50% of its planned bit production for fiscal 2027 and 65% for fiscal 2028, with price floors to support NAND pricing visibility and share repurchases. Western Digital also exceeded expectations on revenue, margin and EPS, and its third-quarter revenue and margin guidance was above market estimates, yet its share price still declined. Goldman Sachs noted that given already high expectations for HDD prices and margins, the company’s guidance failed to meaningfully lift market expectations further. The market also expressed concerns that storage capacity shipment growth could slow as the company advances expansion of its 40TB ePMR products and HAMR certification. Goldman Sachs summed up the after-hours performance as "beating earnings estimates, but still falling short of elevated expectations". The fundamentals of NAND and HDD remain supportive, but market expectations are already at a high level.

According to Al Arabiya TV, Oman and Iran will soon issue a joint statement on the Hormuz Strait transit corridor. (Jinshi)

Unitree has set its IPO price at 150.8 yuan per share. The pre-IPO perpetual contract for Unitree on Trade.xyz is currently priced at $74.62, equivalent to approximately 503.7 yuan, translating to a post-listing market capitalization of around $301.8 billion, or roughly 2.037 trillion yuan. Based on the IPO price of 150.8 yuan per share, a 3.34x return on new share subscriptions is expected after trading opens. Unitree’s STAR Market IPO plans to issue around 40.45 million shares, representing 10% of its total share capital post-listing. Each share is priced at 150.8 yuan, with each new share lot consisting of 500 shares; the estimated subscription payment per successful lot is around 75,000 yuan. Calculated based on Trade.xyz’s pricing, the opening price is projected to deliver a 3.34x return, with each 500-share lot valued at 252,000 yuan, resulting in a profit of approximately 176,000 yuan after deducting the subscription payment.

Alphabet Inc. (GOOG), the parent company of Google, has launched a 10-tranche U.S. dollar investment-grade bond offering.