Unitree Technology has officially listed on Shanghai's STAR Market, drawing participation from several high-profile investment institutions. Entities linked to Liang Wenfeng — DeepSeek, High-Flyer Quant and JZ Asset Management — were allocated about 1.1916 million shares in total through strategic placement and offline subscription (institutional IPO bidding). Based on the opening price, the combined holdings were showing paper gains of more than 1.1 billion yuan. The debut highlights strong demand for sought-after technology listings on China's sci-tech board, where early institutional allocations can translate into large mark-to-market gains once trading begins.