Unitree IPO Imminent | Hyperliquid Valuation 4 Times Higher Than IPO

TechFlow reports, August 16, according to CoinDesk, Chinese robotics manufacturer Unitree Robotics is set to list on the STAR Market, with an IPO priced at 150.80 yuan per share (approximately $22.37), valuing the company at approximately $9 billion. However, pre-IPO perpetual contract prices on crypto trading platform Hyperliquid reached $92-94, implying a valuation of approximately $38 billion, more than 4 times higher than the issue price.

Allium analysis indicates that this premium reflects high market expectations for Unitree; the company's revenue last year was $253 million, a year-on-year increase of 335%, with humanoid robot shipments exceeding 5,500 units. If the listing opening price deviates from the perpetual contract price, leveraged positions may face liquidation risk; analysts state that even if the opening price is twice the IPO price, it could still lead to approximately 33% of long positions being forcibly liquidated.