Unitree Technology's Shanghai STAR Market IPO, priced at 150.80 yuan per share and valuing the company at about 60.99 billion yuan, remained in focus after preliminary offline placement results showed broader participation by bank-affiliated wealth-management products. Unitree said six wealth-management companies, including units of Everbright, Ningbo Bank, China Merchants Bank, China Post, China Minsheng Bank and Nanjing Bank, secured preliminary allocations across 53 products totaling 140,000 shares, worth more than 21.1277 million yuan. The company had already disclosed exceptionally strong retail demand, with a final online winning rate of 0.01809759% after a clawback from the offline tranche and a final offline placement ratio of 0.03341824%. The offer price implies a post-listing market capitalization of about 60.993 billion yuan and a 2025 post-issue price-to-earnings ratio of 219 times, while gross proceeds from the IPO are about 6.1 billion yuan. Jianyin International had previously projected a 2026 target price-to-sales multiple of 32 times, corresponding to a valuation of 109 billion yuan.