Who has bet on Yushu Technology?

On August 5th, the A-share markets first stock of humanoid robots, Yushu Technology, will begin its preliminary inquiry, with online and offline subscriptions starting on August 10th. The public offering will comprise 40.4464 million shares, accounting for 10% of the total share capital post-issue, aiming to raise 4.202 billion yuan. From March 20th, when it was accepted by the Shanghai Stock Exchange, to June 1st, when it passed the review, it took only 73 days, setting the fastest IPO review record so far in 2026. Behind Yushu Technology stands an all-star lineup of institutional investors, including Meituan, Sequoia China, Xiaomi, Matrix Partners, Shenzhen Capital Group, Tencent, Alibaba, China Mobile, and the Beijing Robot Industry Development Investment Fund, representing a gathering of the current top players in Chinas equity investment market, from internet giants to top VC/PE firms, state-owned industrial funds to government-guided funds. Based on the estimated issuance valuation, several early-stage investors have already achieved returns of several dozens to even hundreds of times. Flipping through Yushu Technology's prospectus, its shareholder list resembles a hall of fame of Chinas hard technology investment circle. According to the backgrounds of the shareholders, they can be roughly divided into three major categories: internet giants and industrial capital, well-known VC/PE institutions, and state-owned and government-guided funds. The collective entry of internet giants deserves special attention. The robotics industry is a crucial area for internet companies to invest in AI and intelligent manufacturing. In Yushu Technology's shareholder list, internet behemoths like Meituan, Tencent, Alibaba, ByteDance, and Xiaomi all share the stage. In contrast to industrial capital, VC/PE institutions are more focused on technological pathways and long-term growth prospects. Sequoia China, Matrix Partners, JunWan Hongyi, Citic Securities, Shenzhen Capital Group, Xiangfeng Investment, and Source Code Capital are some of the most representative VC/PE institutional investors in Yushu. Regarding state-owned and government-guided funds, the Beijing Robot Industry Development Investment Fund leads with a 3.83% shareholding ratio among government-guided funds. Additionally, the China Internet Investment Fund, Zhongguancun Science City, Shanghai Science and Technology Innovation Fund, and Tianjin Computing Power Fund have collectively entered the market, forming a multi-level state-owned capital support system from national to provincial and municipal levels.